The consortium of UAE-based businessman Murari Lal Jalan and London's Kalrock Capital -- which has won the bid to revive Jet Airways -- on Monday said it expects to start operating the airline by the summer of 2021.
The bench of Chief Justice N V Ramana and Justice Pradeep Nandrajog issued notices to the Centre, Foreign Investment Promotion Board and Commerce and Civil Aviation ministries and sought their responses by October 30.
Ever since its inception in 1996, Bengaluru has been playing host to Asia's biggest air show.
Gaikwad booked a seat on flight AI 806 from Mumbai to Delhi for Wednesday earlier on Tuesday through his staff which was promptly cancelled by the airline. This was followed by another attempt to book a seat on AI 551 from Hyderabad to Delhi, again for on Wednesday, which was cancelled, too.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
The government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally. A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
Sixteen aircraft will be delivered in a flyaway condition by the Airbus Defence and Space of Spain within 48 months of signing the contract while the remaining 40 planes will be manufactured in India, according to the defence ministry.
Defence Ministry says the report is being verified, maintaining that neither Indian nor French government had any say in the decision.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
The government on Wednesday scrapped a week-old tax on the export of petrol and cut windfall taxes on overseas shipment of diesel and ATF as well as the one imposed on domestically produced crude oil after global oil prices fell. While the Rs 6 a litre export duty on petrol was scrapped, the tax on the export of diesel and jet fuel (ATF) was cut by Rs 2 per litre each to Rs 11 and Rs 4 respectively, government notifications showed. The tax on domestically produced crude was also cut to Rs 17,000 per tonne from Rs 23,250, a move that will benefit producers like ONGC and Vedanta Ltd.
'I've always wanted to be a pilot; setting records is the icing on the cake.'
French government said French companies have the full freedom to select Indian firms for the deal.
'I am seven months into the job, but it feels like seven years.'
The Congress on Monday sought a thorough probe in the Rafale defence deal and demanded answers from Prime Minister Narendra Modi, after a French media report claimed that 1.1 million (Rs 9.5 crore) was paid to a "middleman" by the aircraft manufacturer.
A loss of revenue from liquor sales will have to be compensated through increased landing and parking charges on airlines, which, in turn, will pass on the cost to flyers.
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
We are going to deliver 36 aircraft. If the government of India wants more aircraft, we will be pleased to deliver, he said.
The government is also planning to replace the current ageing Air India One or Boeing 747 with Boeing 777s. Arup Roychoudhury and Archis Mohan report.
The two countries also asked all nations to stop cross-border movement of terrorists and asserted that a decisive collective response from the international community without 'double standards and selectivity' was required to combat the threat of terrorism.
Chandrayaan-3's success is a must for India's space ambitions; we can't afford to lose out. And for realising our space dreams, the Indian private sector must be encouraged because if we lose this race, the moon, Mars, and mineral-rich asteroids will already be crowded before we reach there.
In March 2020, soon after the cessation of airline operations globally and domestic flights within India, many in the aviation sector had written Delhi-headquartered low-fare airline SpiceJet's obituary well before that of most of its rivals. Unlike IndiGo, GoAir (now rechristened Go First), Vistara and even AirAsia India, SpiceJet did not have founders or backers with deep pockets. Although it is the only other listed carrier in India besides IndiGo, it was considered the weakest and the least likely to survive the pandemic. But chairman and managing director Ajay Singh surprised everyone by not only surviving but taking the lead on many fronts. Within a few weeks of the scheduled flight stoppage, SpiceJet was doing as many charter flights as it could get hold of.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
Days after it faced nationwide anti-government protests against its stringent zero-Covid policy, China in a major shift of its coronavirus response policies has announced that it will scrap quarantine for international travellers from January 8 as it reopens its borders and comes out of international isolation after nearly three years.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
United Breweries says sales could fall by 40% following court ban.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
LPG customers of Bharat Petroleum Corporation Limited (BPCL) will continue to get cooking gas subsidy post-privatisation of the nation's second-biggest fuel retailers, Oil Minister Dharmendra Pradhan said on Friday. "Subsidy on LPG is paid to consumers directly and not to any company. So the ownership of the company that sells LPG is not of any material consequence," Pradhan told PTI. The government gives 12 cooking gas (LPG) cylinders of 14.2-kg each to households in a year at a subsidised rate.
Rituparna Chakraborty, co-founder and EVP, TeamLease Services explains which sectors will contribute to India's growth story.
The minister said it was important to have a flag carrier.
Surjewala said shocking revelations have brought out lies of Sitharaman about the award of Rs 30,000 crore 'defence offset contract' to Reliance Defence as part of this deal.
'I will be happy when Indians will get to see a plane made by an Indian taking to the skies.'
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Airlines sought a limited period concession of the standing rule of slot allocation, which mandates that firms must operate at least 80 per cent of their allocated slots.
It is eyeing the transportation and infrastructure modernisation opportunity in the country, expected to attract $500 billion in investment over the next five years.
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
IIP for November 2015 and CPI for December 2015 will be announced today.
There are about 400 unused airports and airstrips across the country.
