A large group of high-profile personalities from corporate India on Saturday left for Lahore on a chartered aircraft of the Indian Airlines to watch the third one-day international match between India and Pakistan on Sunday.
The search for the missing person started early morning on Wednesday with the help of divers and four drones, rescuers have given up hope of finding the missing person alive, MyRepublica newspaper reported.
Wadia Group-owned Go First Airways' (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts. On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday's intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece. Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent higher, respectively, following the development, which was announced post market hours on Tuesday.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
International and Indian airlines are refusing to refund cash and giving credit that can be used later.
After allowing FDI by foreign carriers in their Indian counterparts, the government has put in place provisions to prevent Indian airlines from being controlled and managed by the foreign investor.
The AFI official said that Air India refused to carry three poles measuring 5m each to be used by the two athletes, on the ground of some "technical issues" concerning prescribed length of the items.
Family members of a flight attendant who was brutally killed allegedly by a housekeeping staffer of her building in Mumbai, have taken possession of her body and left for their native place in Chhattisgarh, while the accused was remanded to police custody till September 8 by a court on Tuesday, an official said.
Air India has given more time to pilots to accept the revised compensation structure, which has been opposed by two pilot unions, according to a source. The decision to provide more time to pilots who are yet to sign the new contracts also comes days after Air India organised a town hall meeting with many pilots to discuss their concerns. The source said the airline has given time till the end of this week for signing the new contracts apparently due to requests from people who had not earlier accepted the revised compensation structure.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
Two unions representing Air India pilots have asked members not to accept the revised compensation and employment offer, calling the company's proposals "unfair labour practices." They said any coercion on pilots to sign the offer would lead to industrial unrest. The Tata group airline announced on Monday a new salary structure for pilots and cabin crew.
Painting a gloomy picture, the International Air Transport Association (IATA) on Friday said the Indian aviation industry is estimated to suffer a collective loss of $1.5 billion in 2009, with Air India accounting for most of it.
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
Angira wraps a shoot... Aahana salutes the jawans... Sonal takes a walk in Texas...
Air India said it has also written to the Shiv Sena communicating the decision to cancel the ticket. Shiv Sena Secretary Anil Desai said that he has asked Gaikwad to change his travel plans as the party doesn't want the tensions to escalate.
Looks like the good folks at the ministry of civil aviation have requested our airports and airlines to play Indian music at airports and during flights as part of its culture promotion initiative.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
The Directorate General of Civil Aviation (DGCA) on Tuesday made it mandatory for major airports to provide free automated buggies within their terminal to senior citizens, expectant mothers and the physically-challenged.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
While IndiGo carried 16.82 lakh passengers, a 59.4 per cent share of the total domestic market, SpiceJet flew 3.91 lakh passengers, which is 13.8 per cent share of the total market, the DGCA data noted.
The nine-member team is enquiring with the airlines' staff and concerned authorities in Pokhara to understand details of the ATR-72 aircraft crash.
The announcement came as Prime Minister Pushpa Kamal Dahal 'Prachanda' called an emergency meeting of the council of ministers following the crash.
Rising crude oil prices and muted passenger traffic in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24) have raised concerns about the profitability of listed aviation players. These two concerns have caused the stock of InterGlobe Aviation (IndiGo), the largest player in the sector, to slip by 11 per cent since its highs at the end of July. Nuvama Research expects yields to cool down in the near term due to seasonality, rising crude oil prices, and higher capacity.
Returning home after a five-day high-profile state visit to China, Maldives President Mohamed Muizzu on Saturday struck a defiant note saying that his country may be small but 'doesn't give them the license to bully us'.
Reeling under the pressure of two catastrophic aviation tragedies, Malaysia Airlines is mulling a name change and restructuring of routes in a bid to repair its reputation, a media report has said.
According to Boeing, India would need 1,940 single-aisle planes worth $220 billion and 350 wide-body aircraft valued at $100 billion.
The government has initiated the process for inviting financial bids for the sale of national carrier Air India and the deal is likely to conclude by September, sources said. Salt-to-software conglomerate Tata Group was among the "multiple" entities that had put in preliminary bids for buying loss-making Air India in December last year. The sources said that after analysing the preliminary bids, eligible bidders were given access to the Virtual Data Room (VDR) of Air India, following which investors' queries were answered.
Several changes have been carried out in the existing rules or Civil Aviation Requirements, including one which clearly states that a passenger airline 'shall not enter into an agreement with a foreign investing institution or a foreign airline, which may give such foreign investing institution or foreign airlines or others on behalf of them, the right to control the management of the domestic operator.'
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
Travel companies are opting for Thai Airways, Singapore Airlines, Sri Lankan Airlines and Air India for holiday-makers.
Domestic airlines may increase foreign flight frequencies
International Mohammed Sarwar scored a brace of goals in the Pakistan team's 5-1 win over the Indian sailors.
In November alone, year-on-year growth in flight bookings for the season was almost 40 per cent, said Ranjeet Oak, senior vice-president (flights), MakeMyTrip, a leading Indian online travel agency.
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
On a busy corporate route like Delhi-Mumbai, hand luggage fare can be cheaper by at least Rs 500-Rs 800.
The city's Chhatrapati Shivaji Maharaj International Airport (CSMIA) has decide to once again consolidate its flight operations to one terminal -- T2 -- from April 21 amid the rising number of Covid-19 cases in the city.
Days after low-cost carrier AirAsia announced it would launch its India operations by the end of the year, IndiGo Airlines President Aditya Ghosh, 38, tells Sudipto Dey in an interaction why his airline is not one that should be worried.
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