This was the biggest IPO in the Indian market since Infratel's.
Currently, there are related party transactions in four areas -- real estate leased to IGAL, simulator training facilities, General Sales Agreements (GSAs) for limited foreign markets and crew accommodation at Accor Hotels, the IGE statement said. Citing unaudited numbers for 2018-19, the statement said the related party transactions in the four areas accounted for Rs 150.12 crore or 0.53 per cent of IGAL's consolidated turnover.
Saturday's mid-air engine failure on Indigo flight prompts scrutiny.
Nearly 200 of the 789 aircraft of Indian carriers are expected to be grounded by the end of March due to ongoing supply chain issues, according to the report released on Monday by CAPA India. At present, 161-166 aircraft are grounded. "More aircraft will be on the ground than expected due to serious supply chain issues, which were supposed to improve but actually deteriorated," it noted.
Budget carrier IndiGo has assured its employees that it will not make any deduction in their salaries or leaves due to the suspension of domestic flights till March 31. The government's decision to suspend domestic flight would come into effect from midnight Tuesday, as part of larger efforts to curb spreading of coronavirus infections.
The decision comes hours after an A320 neo aircraft of IndiGo suffered engine failure mid-air and made an emergency landing at Ahmedabad airport.
The fresh bout of trouble has forced IndiGo to ground aircraft periodically since July, and on August 20, the number of grounded aircraft touched nine
The India meteorological department (IMD) on Wednesday evening issued a red alert for Mumbai and its neighbouring districts, predicting "extremely heavy rainfall".
IndiGo on Monday said it will refund all customer credit shells, which were created when flights were cancelled due to the coronavirus lockdown earlier this year, by January 31, 2021. The airline in a statement said it has already processed close to Rs 1,000 crore of refunds, which is approximately 90 per cent of the total amount it owed to its customers.
Because of strong headwinds on Delhi-Istanbul route for the last two days, the low-cost carrier has been unable to take most of the check-in luggage in the same aircraft along with passengers, said an airline spokesperson.
"In a civilised society fisticuffs have to be condemned ...action has to be taken," Raju told reporters.
Major no-frill carrier IndiGo expects to continue its profit-making streak this financial year too, as it plans to increase frequencies on select international routes soon.
Airfares on major domestic routes such as Kolkata-Bagdogra, Delhi-Bengaluru, and Delhi-Mumbai have witnessed an increase of up to 12.7 per cent year-on-year (Y-o-Y) in May this year, according to data by Thomas Cook (India) and SOTC Travel. The recent increase in aviation turbine fuel prices, rupee depreciation, reduction of flights by key players, and grounding of planes due to engine supply issues have contributed to the rise in airfares, said aviation industry experts. However, the data also shows that summer airfares on key routes such as Delhi-Leh and Delhi-Kolkata have significantly decreased due to the introduction of new flights.
IndiGo has about 40 per cent market share, more than double that of Air India's 14.8 per cent.
IndiGo will seek board approval for Dutta's appointment soon. Till then, promoter Rahul Bhatia will continue to act as interim CEO.
To govern effectively, to legislate successfully, Modi must reach out to the Opposition. As long as he does not and he is showing no signs that he accepts the reality, the drift his fans are anguishing over will remain, cautions Aakar Patel.
The DGCA cracked the whip after an IndiGo flight bound for Lucknow returned to Ahmedabad within 40 minutes of its getting airborne due to a mid-air engine failure.
The airline is trying to save on wage costs by cutting the normal notice period of six months by about half for pilots who have already resigned.
IndiGo confirmed the incident but said the aircraft did not face any technical issue in the past.
Industries such as aviation and hospitality have many silos within them and Aionos, the joint venture between Interglobe Enterprises (IGE) and Assago Group, is an attempt to bridge them and boost efficiencies using artificial intelligence (AI) solutions, Rahul Bhatia told Business Standard on Tuesday. Bhatia, the Group Managing Director of IGE, serves as the majority shareholder in India's largest airline, IndiGo. Additionally, IGE operates 21 hotels under the Ibis brand and runs a logistics company called Movin.
Jayanti Soni and her family return each year to Bhinmal, when they can, to celebrate Diwali in her family home.
At present, IndiGo operates over 17 flights between India and the Gulf
Once the coronavirus lockdown is over in India and commercial passenger flights are permitted again, IndiGo will deep clean its aircraft more frequently, stop in-flight meal service for a brief period and will fill a maximum 50 per cent capacity in airport buses, the airline's CEO Ronojoy Dutta said on Friday. "In situations like these, companies do not manage to growth or profitability but to liquidity. That means our singular focus is on cash flow. We are examining all our fixed costs and looking for ways to minimise them," he said.
Indigo, the largest player in the domestic aviation space, cannot afford to ignore new entrant Vistara.
Rakesh Gangwal had raised concerns that various RPTs involving Bhatia's InterGlobe Enterprises Group were executed without seeking the audit committee's approval and without seeking competitive bids from third parties.
Airfares have nearly doubled in a matter of days on routes hit by the cancellation of 200 weekly flights linking Mumbai airport to 12 cities. The fares have soared as high as 193 per cent following a recent government order to cancel flights to ease "persistent congestion" that was causing delays. Aside from the reduction in flights on 12 routes, two destinations - Hubli and Jabalpur - have lost connectivity with Mumbai since last week, according to aviation analytics firm Cirium's data reviewed
Move aimed at giving more headroom to foreign investors.
French aviation watchdog BEA said vertical separation between the two aircraft 'was zero feet' while the least horizontal separation between the two planes was reduced to just 0.6 NM.
Since the company's senior management was privy to the price-sensitive information of Ghosh's resignation, Sebi wanted to check whether the information was disseminated properly to bourses
The airline with a 66-aircraft fleet said on Monday that it would be inducting 16 planes this year and the remaining 12 by 2014.
He said that the Sri Lankan authorities have arrested more of their associates but it won't be right to reveal any more details on them as the investigation is going on.
The other three airlines that have been probed in this matter are SpiceJet, GoAir and Air India
"The return fare on economy class to most European capitals from Mumbai are close to 50,000 plus. If an LCC can offer direct connectivity for a basic fare of 25,000 with additional top ups for meals, baggage and blankets, which further takes the fare to, say, 35,000, it is still a value deal."
Bihar Police on Wednesday arrested a person in connection with Indigo station manager Rupesh Kumar Singh's murder, which it claimed to be the outcome of a road rage.
An integrated team of 200 staff crunches data to minimise disruption for 149 planes, but airport infrastructure poses a challenge
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
The bookings of tickets under the four-day "festive sale" offer have begun from Monday for the travel period from September 18, 2018 to March 30, 2019, IndiGo said.
Flight operations at Chhatrapati Shivaji Maharaj International Airport were suspended twice for a brief period due to inclement weather and low visibility, a source said.
IndiGo's situation points to a deeper malaise where skill shortage can challenge India's status as the fastest-growing aviation market, say experts.
