SpiceJet promoter Kalanithi Maran would need to invest at least Rs 1,500 crore (Rs 15 billion) almost immediately to stabilise the airline.
Indian airline SpiceJet Ltd said on Thursday that its billionaire owner, Kalanithi Maran has proposed to transfer majority ownership in the ailing carrier to co-founder Ajay Singh.
Cops said that 'whatever has been alleged by his (Kanhaiya's) friend, in our inquiry hasn't been found to be true'.
Indigo, Air India, Spicejet, GoAir, Jet Airways and Vistara put Diwakar Reddy under no fly list.
No reason was cited for rescheduling of the meeting.
Ajay Singh would infuse Rs 1,500 cr in SpiceJet.
Vistara has fine-tuned strategies to tap the elite class and Jet Airways may lose out on market share in times to come.
The additional stake will cost the promoters Rs 312 crore (Rs 3.12 billion).
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
Domestic air traffic grew by over 18 per cent last month compared to October last year as Air India's passenger load factor overshot that of IndiGo which had the largest number of flight cancellations, official data showed on Monday.
About 350 Boeing 737 Max 8 are currently in service with airlines around the world, with thousands more on order. Boeing insists it has no reason to pull the popular aircraft from the skies.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
About 350 Boeing 737 Max 8 are currently in service with airlines around the world, with thousands more on order. Boeing insists it has no reason to pull the popular aircraft from the skies.
Majority of India's international routes have been captured by foreign airlines.
7,000 unemployed pilots in India but airlines continue to bet on expats
Modi's 'UDAN' project faces fund crunch as too many airlines have come on board
Finalisation of the date for joining the elite club will be decided only by Air India, Star Alliance vice-president for corporate office, Christian Klick, told reporters here during a media interaction.
Govt's decision to allow in-flight Wi-Fi doesn't take off with budget airlines, full-service carriers enthused
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
Airlines are now pushing up fares and hopes to improve margins over the next three months to make up for the poor September quarter, even if it leads to a slight fall in their passenger load factor.
Fliers may have to shell out more with the government mulling to impose a two per cent cess on air tickets
To make space for the extra row, Vistara has opted for the smartLav concept offered by Airbus
Ebix had signed the agreement last year to acquire Gurugram-based Yatra Online for an enterprise value of $338 million (about Rs 2,327 crore) in an all-stock deal. The deal was supposed to conclude in the October-December quarter after regulatory approvals but went through several extensions, according to regulatory filings with the US Securities and Exchange Commission.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
The first set of routes that it will launch internationally will be the routes that can be flown by its existing aircraft, the A320s, which will be routes within three, three-and-a-half hours of India
Miscommunication with the ATC is said to have caused the near-miss. DGCA probe underway.
The passenger has been taken into custody for questioning.
From limousine pick-ups to on-board chefs, Asia's premium airlines are investing hundreds of millions of dollars on luxury services.
Rains made the job more challenging as it was making the ground soft, the AIESL CEO said.
"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."
Indigo continued its market leadership ferrying 5.77 million passengers in the month, followed by rival Spicejet with 1.86 million, and Air India carrying 1.55 million passengers. Goair, AirAsia India and Vistara transported 1.33 million, 7.72 lakh and 6.48 lakh passengers, respectively.
MPs will, however, continue to enjoy facilities like being served tea, coffee and water for free at airports, have free access to the terminal building and enjoy reserved lounge facilities at international and domestic terminals
'We should have calmed down the child. We will do an internal analysis on that.'
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
With passengers flying Indian skies getting more and more unruly, day by day, airlines are forced to stock rope and handcuffs on board and use them as they did the other day on a Dubai-Delhi flight.
Till high school, his medium of learning was Marathi. Later, he completed his doctorate under Neil Armstrong's guidance. He has travelled to close to 50 countries, sold $350 billion worth of aircraft. Anjuli Bhargava meets Boeing SVP Dinesh Keskar.
Former Air India executive director Jitender Bhargava comes out with a book detailing what went wrong with the national carrier. According to him, India does not have a civil aviation policy, and that's just the beginning.
FAA had downgraded India's safety ranking from category-II from -I after an audit revealed deficiencies in regulatory oversight.
The Delhi-based airline currently has 13 Airbus A320 aircraft in the fleet and it plans to take another seven (A320 Neo) planes by June 2018.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
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