Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
This was the biggest IPO in the Indian market since Infratel's.
Air India must tighten costs to comes out of the red or it wil perish in no time, says experts.
RM took stock of progress in production of the fighter jets whose delivery to India will begin in September next year.
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
'Their dharma propels them to pay their workers; otherwise, they know the boys would starve.' 'At the same time they will not allow their business to suffer,' observes Dr Sudhir Bisht.
After a long spell of losses, national carrier Air India recorded a net profit of Rs 14.6 crore (Rs 146 million) in last December, driven by a healthy growth in both passenger and cargo revenue.
Bids to be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. Transfer of control to the buyer to be effected by June-end.
The national carrier's market share has declined from a near-monopoly to 16.6 per cent as of September 2014.
Several companies and technology heavyweights including Microsoft, Oracle and Salesforce are working to create a digital vaccination passport or health passport app in the hope that governments and airlines will require travellers to upload details of their Covid-19 tests and immunisation. The vaccine passport will effectively create digital credentials that could be the key to attending crowded events or even visiting countries.
Mere shuffling of resources or cosmetic changes to prove a point would be counterproductive in the long run, observes Commodore Venugoptal Menon (retd).
An expat pilot with Jet Airways hurled "racist" comments at and assaulted a woman and also abused a physically challenged person on a flight, cricketer Harbhajan Singh claimed.
These ambitious projects are littered with every possible acronyms and include proposed road links, air connectivity plans, electricity grids and special economic zones on coasts, says Subhomoy Bhattacharjee.
The CVC had asked the CBI to probe the 'irregularities in the tendering process and award of contract and undue benefit caused to the SAP/IBM'.
The Prime Minister will be releasing separate brochures for these sectors along with a general brochure.
As and when Jet Airways applies for slots, these would be allocated among all airlines according to guidelines, without any claim of historicity in favour of any airline. Slots would be given to Jet only from the available remaining pool.
Rahul has singled out Anil Ambani several times for winning the Rafale defence contract from the Narendra Modi government, alleging favouritism and corruption.
Airlines tell Arindam Majumder and Aneesh Phadnis they are forced to look at expats due to a lack of commanders, a position that requires experience.
The first to take off will be Air Pegasus, promoted by Bengaluru-based ground-handling firm Deccor Aviation.
About railways sector, the Survey said that it is facing stiff competition from other modes of transportation and the government is initiating various transformative measures to keep railways on track.
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
Enormous debt isn't the only thing afflicting Air India. Its work culture is an equal culprit in its downfall.
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines after the high court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman's assets in India. Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya's lawyers. At a virtual hearing, July 26 was set as the date for final arguments for and against granting a bankruptcy order against the 65-year-old Mallya after the banks accused him of trying to "kick matters into the long grass" and called on the "bankruptcy petition to be brought to its inevitable end".
With 262 planes, IndiGo operated over 1,500 daily flights prior to March 24 but is now operating around 350 scheduled flights a day, which is putting a pressure on its finances.
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
There has been, a nominal increase in the aircraft maintenance cost.
The 30-share Sensex is down 359 points at 26,378 and the Nifty has dropped 78 points to trade at 7,883
SBI is the lead lender to Jet Airways, which has a debt burden of more than Rs 8,000 crore.
The Commerce Ministry earlier this week commissioned a study to assess the impact of free trade agreement with South Korea, with which India had a trade deficit of about $9 billion in 2012-13.
Despite the increase, at Rs 64.32 per litre ATF costs less than petrol and diesel.
As corporate India prepares to put its house in order, the transition raises concerns
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
Godrej and some other firms are frustrated at what they say is the slow execution of projects and lack of government support, which are hampering India's efforts to compete with China and Russia as a cheaper option for launching satellites.
It's a post-truth world for multinational brands and businesses too.
Dairies, milk plants, grocery shops, chemists and petrol pumps, ATMs, e-commerce services of essential items like food and medicines will remain open, he said.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
It is imperative that the government first decides who should assume ownership of running Air India.
After allowing FDI by foreign carriers in their Indian counterparts, the government has put in place provisions to prevent Indian airlines from being controlled and managed by the foreign investor.
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