No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents' grouping TAAI said on Wednesday.
Indigo has zero competition on 61.2 per cent of its 838 domestic routes.
Aiming at attracting Indian travellers to major global and domestic destinations, foreign and Indian carriers are vying with each other by offering discounted tickets.
Tata group-owned Air India plans to hire expat pilots for its Boeing 777 planes as the airline is facing a shortage of pilots amid plans to expand its fleet as well as international operations, according to sources. The carrier is looking to rope in around 100 pilots for the wide-body Boeing 777 fleet and has approached various agencies that provide expat flight crew to airlines, the sources told PTI. The loss-making Air India, which was under government ownership for nearly seven decades till the Tata group took over in January 2022, had stopped hiring expat pilots many years ago to save costs.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
The total amount of penal interests charged from the defaulting parties stood at about Rs 115 crore.
The Centre on Tuesday urged the Supreme Court not to hear this week the pleas on the vexed legal question of whether a husband should enjoy immunity from prosecution for the offence of rape if he forces his wife, who is not a minor, to have sex.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
However, Federation of Indian Airlines will continue to function and its other members are not pulling the plug yet, industry sources said.
Domestic air traffic logged 14.35 per cent growth in November as compared to the corresponding period last year propelled by the festive season rush.
The bulk of Indian carriers flying to Dubai are low-cost carriers, which include IndiGo, Air India Express, and SpiceJet.
Changes being driven by Etihad, says a source, after a V-P quits
Airlines have to deal with high operating costs - fuel, taxation, airport charges - in a very competitive environment.
Qatar Airways is keen to buy equity in IndiGo if the Indian carrier offers 49 per cent stake to it, a top official has said as he sought the opening up of the Indian aviation market for established airline companies.
Sanjiv Kapoor questions the rival's change in strategy and claims of full load.
Currently, Vistara has more than 22 planes and operates around 850 flights every week.
Ninety years later, BA counts the country as its second-biggest overseas market after the US.
Tata Group-owned AirAsia India, which is in the process of being merged with Air India Express, has taken short-term loans worth Rs 630 crore during the last six months to deal with cash crunch. AirAsia India has been making losses since its first commercial flight on June 12, 2014. Its net loss increased by 42 per cent to Rs 2,178 crore in FY22.
Given that debt is a major problem for most airlines, investors with a medium-term horizon should look at them.
The move comes when Kingfisher remains the only listed airline in India to have made losses in the third quarter of the current financial year.
US-based UPS on Thursday opened its first store in Mumbai. This is the first store outside North America.
The sources said that during the boarding, the male passenger behaved in an unruly manner and touched the female cabin crew member inappropriately.
Sahara group on Wednesday said the sale of its airline to Jet Airways for $500 million was not a "distress deal but a profitable exit" from the business that did not hold promise and future in the short to medium term.
Global financial services giant Citigroup has identified Jet Airways, Indraprastha Gas, Gokaldas Exports and Abhishek Industries as potential targets for leveraged buyouts by smaller companies looking for a presence in India, while acknowledging that
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
Team India sponsorship will not be affected due to the takeover of the Sahara airline by competitor Jet Airways
After hearing Kingfisher's plea, the COMPAT observed that the CCI had acted beyond its scope in the matter and set aside the penalty.
The losses are primarily because the venture operated only for 18 days in June, with only two flights.
Volumes are up over 20 per cent y-o-y in January-April.
The airlines in India are expected to add around 370 aircraft worth Rs 150,000 crore (Rs 1.5 trillion) to their fleet by FY17, according to a study by Assocham.
The Indian cricket squad arrived in Chennai on Monday for Sunday's crucial group B match of the World Cup against the West Indies.
The GST rate is 5 per cent and 12 per cent on economy and business class tickets, respectively
An interview with Landor's executive creative director Peter Knapp.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Experts said the risks associated with the Indian Experts say that aviation sector would keep investors away from airline stocks.
The Wadia-group promoted private carrier GoAir's Chief Executive Officer (CEO) Edgardo Badiali, is believed to have has resigned from his post.
Ruling out the sale of Sahara TV following the takeover of its airline business by rival Jet Airways, a top Sahara group official on Tuesday said the company's entertainment wing was looking forward to expanding operations, with the launch of a new H
Airfares of most major airlines will go up by Rs 150 per sector from Friday, as the carriers plan to levy a traffic congestion surcharge.
There is no doubt that India is a large growth market in the long term. But there are major problems related to aviation turbine fuel (ATF), ATC, infrastructure, shortage of pilots and so on. Taking all of this into account, I would call our approach one of maintaining long-term sustainability - a step-wise, organised growth with a focus on efficiency, says Edgardo Badiali.
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