With the Bangalore airport announcing stiff user developmental fee on domestic passengers, low-cost carriers -- JetLite, SpiceJet and Simplifly Deccan (formerly Air Deccan) -- have decided to drastically cut their flight schedules to the city and other new airports like Hyderabad.
GMR Hyderabad International Airport Ltd, the consortium operating the new Hyderabad airport, has offered to halve ground-handling charges even as the civil aviation ministry allowed the domestic carriers to undertake their ground-handling till January 1, 2009. This will give the two sides enough time to resolve the contentious issue, which almost jeopardised the opening of the new airport and forced a postponement once.
Domestic airports across the country are bursting at the seams. And new ones are stuck.
Maharashtra SEZ act yet to be notified.
Mallya is understood to be in the UK after he left India on March 2.
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FIRs have been registered against top officials of the aviation ministry, GVK Ltd and police department on a complaint that Mumbai International Airport Ltd (MIAL) received undue benefit to the tune of hundreds of crores of rupees from the government.
The matter relates to cheques issued by Kingfisher to GMR Hyderabad International Airport.
Rivals say the concessions would benefit AirAsia alone.
On April 20, the court had convicted Mallya and others in connection with bouncing of two cheques of Rs 50 lakh each under relevant sections of Negotiable Instruments Act
The UPA Government is trying to push through the second wave of airport privatisation before the elections and the controversial elements of this process threaten to harm the sector.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
SGI Commex contended that though it had won the bid, it is yet to receive a communication from the department to this effect and unless it gets such a letter, it will not be in a position to pay the dues claimed by MIAL
D B Realty's share price went up by nearly 10 per cent to close at Rs 125.20 on BSE.
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
The future certainly looks good for Bangalore.
A Special Court for Economic Offences has ordered summons to be issued against him over dues from his Kingfisher Airlines to the I-T Dept.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
A ministry spokesperson said he wasn't aware of the development.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
Some airlines, says Anjuli Bhargava, are convinced there's a conspiracy to malign them.
Sixteen deaths in rain and flood-related incidents have been reported from western Maharashtra in the last seven days, while the toll in Karnataka rose to five since Sunday.
Billionaire Gautam Adani's embattled conglomerate said its balance sheet is "very healthy" and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the conglomerate despite a share rout triggered by a damning report by a US short-seller. Group CFO Jugeshinder (Robbie) Singh in an earnings call said the group is confident of its internal controls, compliance and corporate governance. Separately, it released a compendium of group companies to highlight that it has adequate cash reserves and has ability to refinance debt.
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
A lookout notice has been issued against industrialist Yash Birla in connection with a cheating case registered against his firm Birla Power Solutions, police said.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
The 16-hour flight will be the first direct one from India to the US west coast.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
GVK Skycity's 20-million sq ft commercial space will be bigger than that in BKC; bids invited for first phase.
'I did a small role in Masoom.' 'Do you remember the scene where an old man brings Jugal Hansraj to Naseer's house?' 'I put on the full make-up of an old man and stood in front of Shekhar.' 'He had no choice but to take me.'
The agency is carrying out searches at eight locations in Delhi, Noida, Lucknow and Mumbai in this regard.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
Further relaxation in aircraft capacity deployment coupled with festive season air travel demand helped recovery in the domestic traffic with passenger volume seeing 22 per cent sequential growth in the previous month, ratings agency ICRA said on Wednesday. ICRA also said that the November domestic passenger traffic was close to 50 per cent of the domestic air travel demand in November 2019. The recovery in international passenger traffic, however, is likely to further get delayed in the wake of fresh travel curbs by select countries following the detection of a new virus strain in the UK, it said.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
The airline is also looking at cities in the northeast.
The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers. Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales.
The events of September 24 have not only earned the country a whole lot of interest but also showed the world how a lot more can be accomplished with a shoestring budget.
'Cyrus was always very different. He would think before acting.'
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