The government was also working on a package to promote connectivity and airports in the North Eastern states
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
Rising fuel costs have grounded the high-flying ambitions of India's carriers and have sent their stocks into a tailspin.
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.
Kingfisher Airlines will be the Official Umpire Partner for the Indian Premier League and will also sponsor all third umpire decisions during the 59 action packed games in the Twenty20 tournament beginning next month.
The airline operates nearly 950 weekly flights on 28 destinations within and outside of Saudi Arabia.
Even if you assume a higher return fare of Rs 40,000, the yield will still be lower than the costs.
Airlines in the UAE are expecting a huge rush since nearly a million amnesty seekers, including many Indians, are likely to leave the country before the September two deadline.
According to a senior state Crime Investigation Department official, those passengers included at least 60 from Gujarat, who have already reached their respective native places in the state.
Gul is the sixth individual to have been designated as a terrorist by the Centre in the last fortnight.
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.
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.
A day after notifying a policy measure to allow foreign airlines pick up 49 per cent stake in Indian carriers, the government today said the aviation industry was in an upbeat mood as it was expecting a positive response to the move.
The nine-member team is enquiring with the airlines' staff and concerned authorities in Pokhara to understand details of the ATR-72 aircraft crash.
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.
Malaysia Airlines flies to Delhi, Bangalore, Chennai, Mumbai, Hyderabad and Kochi.
A day after FIPB cleared the Tata-Singapore Airlines' (SIA) airline venture, Tata group Chairman Emeritus Ratan Tata and SIA chief Goh Choon Phong on Friday met Civil Aviation Minister Ajit Singh exuding confidence of launching flights by May-June next year.
The announcement came as Prime Minister Pushpa Kamal Dahal 'Prachanda' called an emergency meeting of the council of ministers following the crash.
IndiGo was set up in 2006 by businessman Rahul Bhatia and Rakesh Gangwal, a former CEO for US Airways Group.
India has pulled out of the World Cadet Chess Championship scheduled to be held in Egypt from October 14 to 23 in view of the situation in Gaza
IndiGo, India's largest airline, is in talks to raise fresh funds as a second wave of pandemic has led to collapse in travel demand. The airline may look to raise Rs 3,500-4,000 crore. On Monday, only 97,761 passengers flew. With flyers cancelling bookings, airlines had to put aside flights and operated only 1,306 of them.
American Airlines on Wednesday launched its new telephonic ticket reservation facility - Del Express Service - for passengers flying from India.
He said most of the passengers on the chartered plane that returned from France were from districts of Banaskantha, Patan, Mehsana and Anand.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
J R D Tata and Air India... Mrigank Warrier explores one of India's eternal love stories.
On May 1, SpiceJet's Mumbai-Durgapur flight encountered severe turbulence during its descent phase, injuring 14 passengers and three cabin crew members.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
