The warning had come after SpiceJet's dues to AAI (including interest at 12 per cent) exceeded Rs 300 crore (Rs 3 billion) this month -- from Rs 230 crore (Rs 2.3 billion) early December last year.
In a fresh trouble for the budget carrier SpiceJet, aircraft lessors have approached the aviation regulator DGCA, seeking its permission to repossess 11 Boeing planes of the airline, even as its revival plan is under review of the Civil Aviation Ministry.
The airline pitches its product and service, keeps silent about price in a new campaign as it looks to win over young business travelers.
Zara co-founder Amancio Ortega has toppled Bill Gates to become the world's richest person four times. A peek into the life of the 81 year old even Jeff Bezos can't keep up with!
SpiceJet strts trimming workforce.
Jet Airways chairman Naresh Goyal discusses the airline's entry into the United States.
The Indian aviation sector is on the cusp of a change as airlines look to induct a record number of aircraft. This, analysts said, will put the sector on a growth runway, though keeping it viable for only long-term investors. According to Vinit Bolinjkar, head of research at Ventura Securities, expectations of strong air traffic, coupled with low penetration, is the prime reason for a solid long-term outlook.
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
During the Diwali week (November 10-16), airfares on major routes across the country have surged by up to 44 per cent.
The airline has promised refunds within 10 days, but there is a rush
The airline re-built the flight schedule and refunded passengers.
Over 250 eminent citizens, including former judges and ambassadors, have written to the President and Chief Justice of India calling for strong action against online news portal NewsClick, which is alleged to have received dubious funds from American billionaire Neville Roy Singham to spread Chinese propaganda.
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.
Budget carrier SpiceJet on Friday triggered off a price war in the aviation industry announcing one-way discounted fares starting Rs 1,999 for travel between September and December this year, prompting IndiGo to follow with a similar offer soon after.
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.
'The other airlines will be concerned about Jet Airways'
British-Pakistani billionaire businessman Shahzada Dawood and his son Suleman were also on the sub, the BBC reported on Tuesday.
The airline reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
SpiceJet has cut costs to turnaround the carrier in a year's time.
The task I had undertaken was by no stretch of imagination an easy one, says Ajay Singh.
IndiGo's ascent is not without its risks, however.
Tata Group-owned Air India, under its new chief executive officer and managing director Campbell Wilson, is optimising its domestic strategy under which the carrier is "densifying" its presence on metro-to-metro routes and exiting from unviable ones, Business Standard has learnt. Wilson took charge on July 25. Air India has increased its flights on metro-to-metro routes such as Delhi-Mumbai, Delhi-Bengaluru, Mumbai-Chennai, Mumbai-Bengaluru, and Hyderabad-Mumbai between June and November this year.
In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
Jet Airways founder Naresh Goyal and few others have been booked by the Enforcement Directorate in a money laundering case even as the agency is conducting searches at his premises, officials said on Thursday. They said a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act after taking cognisance of a recent Mumbai Police FIR filed against him.
Goyal was questioned by the Serious Fraud Investigation Office on Thursday in Mumbai in connection with allegations of some financial irregularities.
The aircraft was called back to the parking bay at the time of taxiing.
However, the tender criteria demands that an entity must be eligible to conduct Beyond Visual Line of Sight operations in order to become eligible. Currently, no drone companies are eligible to do BVLOS operations, reports Arindam Majumder.
Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
IndiGo has confirmed the delivery of the next set of 25 ATR-72 jets and will be inducting around 10 planes by the end of this calendar year, making it the largest regional fleet operator in the country.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
The recent spate of technical glitches in aircraft has prompted the Directorate General of Civil Aviation (DGCA) to issue an order on July 18, making aircraft maintenance engineers (AMEs) with category B1/B2 licences the final authorities in certifying planes. This has put the spotlight on the availability of such personnel. According to the order, airlines were resorting to frequent one-off authorisation by the Category A certifying staff at transit stations, which is not in line with existing regulatory provisions.
Ekta Mohanani Kamra, travel enthusiast and founder, Hop & Bop, lists places and activities to add to your monsoon bucket list.
The large carnivore got completely wiped out from India due to their use for coursing, sport hunting, over-hunting and habitat loss.
In a bid to incentivise its staff and improve their performance, Air India may soon offer them employee stock options (ESOPs). The erstwhile national carrier, which was acquired by the salt-to-steel conglomerate Tata Group last year, will be the second company in the Group to have an ESOP policy. Tata Motors is the other Group company with an ESOP policy, which was implemented in 2018.
When the Tatas re-boarded Air India on January 27 last year, the price of aviation turbine fuel was at over Rs 80,000 per kilolitre. Rupee was trading at around Rs 74 to a US dollar. The Omicron variant of Covid-19 was in prevalence - barely a week earlier, India had reported over 340,000 cases on a single day. Seven-day home quarantine of international travellers was the norm.
Over 600 slots at three major airports - Heathrow, Dubai and New York's JFK International - could be at stake.
Hitting back at Mayawati who wants him to be put in a "mental asylum", WikiLeaks founder Julian Assange on Tuesday said that the Uttar Pradesh Chief Minister needed to take up her case with the United States if she has a problem with the contents of American diplomatic cables that painted her as an "egomaniac."
'The airline business is very dynamic. If you are unable to keep up and lead, you end up last.' 'This is what has happened to Jet.'
Vistara started allowing passengers to book an extra seat from Tuesday. IndiGo and SpiceJet, too, are in the final stages of designing such a product to be sold as an add-on.
