The Chennai office of Registrar of Companies sent the notice to the second-largest no-frills private carrier last month.
Air India has readied a new revival plan that would see the national carrier turning around in 2-3 year, says AI chariman Arvind Jadhav.
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
AI Express operates 195 weekly flights, mostly from Kerala.
After domestic private air-carriers, Jet Airways and Kingfisher launched their all-economy services to tap low-cost travellers, state-run Air India may now enter the no-frill segment in the domestic sector to beat the downturn in the aviation industry.
Air fares in India are either too low or very high and this has not gone well with the regulator.
The move if implemented, will be a temporary measure to protect both consumers and airlines. A section of airline executives and experts, however, warned that any intervention in pricing would be counterproductive.
Confronted with spiralling aviation turbine fuel prices, which account for half an airline's operating costs in India, several low-cost and full-service carriers will go for a steep increase in fares that could vary from 5 to 20 per cent, from June 20. Today's announcement comes three weeks after fares were raised 8 to 10 per cent following a rise in ATF prices (which increased 18 per cent last month).
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
Low-cost airline IndiGo on Tuesday said it has no plans to take on-board an overseas partner to expand its business.
After Air India and Jet slashed ticket prices, low-cost carriers respond with 5-20 per cent cuts; likely to spur air travel market's sluggish growth.
A day after withdrawal of low fares by some major airlines, Jet Airways and its low-cost subsidiary JetLite have introduced Rs 300 and Re 1 as basic fares respectively under 30-day advance purchase scheme.
We live in hope that India and its airlines might finally grow up, notes Anuli Bhargava.
The four 78-seater Q400s would connect Hyderabad with 12 Tier-II and Tier-III destinations.
The airline is currently operating on the Delhi-Dubai, Mumbai-Dubai, Delhi-Singapore and Mumbai-Muscat routes.
As per information available with the Corporate Affairs Ministry, the new company was incorporated on November 5 with a total paid up capital of Rs 500,000 and has been registered in New Delhi.
In the preceding quarter, the airline had posted a profit of Rs 9.64 crore supported by non-passenger revenues.
His visit to India followed a few cancelled plans since he took office in July 2019 due to the coronavirus pandemic crisis, with the two leaders holding several virtual talks and eventually meeting in person on the sidelines of the COP26 climate summit in Glasgow last November.
National flag carrier Air India has raised $500 million (nearly Rs 2,250 crore) from ABN AMRO-led banking consortium to make pre-delivery payment to US-based aircraft manufacturer Boeing Company.
Aviation Working Group (AWG), a global aviation leasing body comprising major planemakers and lessors, on Monday further downgraded India as lessors have not been able to repossess their planes from Go First more than four months after the airline filed for insolvency. The leasing cost stands as a prominent expense for Indian airlines. With AWG's downgrade, it is likely that lessors will increase the aircraft leasing rates for Indian carriers.
Last week, the carrier had asked about 60 pilots who had resigned to leave after serving only half the six-month notice period.
SpiceJet, the low-cost air carrier, on Thursday got its shareholders' approval to issue additional equity shares to promoter Kalanithi Maran, who in turn will infuse Rs 130 crore (Rs 1.3 billion) into the airline. Maran's equity holding would go up from 38 per cent to 43 per cent of the company's shares.
Dutta was president of United Airlines, where he worked for nearly twenty years. He also served as the president of Air Sahara for two years. Moreover, he was an advisor to the restructuring of both Air Canada and US Airways.
IndiGo's share sale will raise the company's retained earnings to Rs 2,680 crore.
Though a formal purchase agreement with Boeing is yet to be signed, SpiceJet's order size could be of 40-50 planes, a source familiar with the development said. At list price, a 737 Max aircraft is valued at about $100 million (Rs 620 crore).
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
Singing a different tune than its foreign partners, Bajaj Auto on Friday said it will launch a four-wheeler commercial vehicle in mid-2012 from the ultra-low cost car (ULC) platform, which was originally planned to roll out a car with Franco-Japanese alliance Renault-Nissan.
In a bid to restructure its top hierarchy, Air India plans to hire some senior executives, including a Chief Strategy Officer and a Chief Operating Officer for its low-cost international arm Air India Express, airline sources said on Tuesday.
Low-cost air carrier SpiceJet is looking at ways to raise around $75 million (Rs 335 crore). The airline has given the mandate to IDFC-SSKI for raising funds through preferential allotment of shares and strategic sale. "IDFC-SSKI is working on it and the money will be raised through both preferential allotment of shares and strategic sale," said a Mumbai-based investment banker, who is associated in this deal.
Maran had clinched a deal in June to acquire a 37.7 per cent stake in the airline for about Rs 750 crore (Rs 7.5 billion) from American investor Wilbur Ross, his investment companies and the Kansagara family-promoted Royal Holding Services Ltd.
A resurgent SpiceJet is spreading its wings and Vistara is set to challenge Jet on long-haul routes in the coming years.
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.
MRTPC has suspected cartelisation amongst low-cost fliers over fixing of air fairs. It has called for a probe into the matter.
Air Deccan, India's first low-cost airline that made flying affordable for the middle class, is relaunching its operations from December 23.
Concerned over the deteriorating condition of SpiceJet, aviation regulator DGCA on Friday withdrew 186 of its slots and asked it to clear salary dues of all its employees in the next ten days.
Continuing its focus on low cost model of operations, private carrier Jet Airways will shift 45 flights to its no-frill service brand Jet Airways Konnect by October.
Airlines say ATF fuel prices in India are 40 per cent higher than in countries such as Singapore. Jharkhand, Chhattisgarh and Maharashtra
Domestic air traffic in April this year consisted 10.99 million passengers as compared to 11.51 million passengers in the same month last year, signifying a fall of around 4.5 per cent,
SpiceJet would see a capital infusion of Rs 1,500 crore.
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