Aviation watchdog DGCA will conduct a special audit of grounded airline Go First's facilities in the national capital and Mumbai from July 4 to 6 before approving the revival plan for resumption of flights, according to a senior official. Cash-strapped Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process. Meanwhile, a senior executive at the airline expressed hope of resuming ticket sales -- which was paused by DGCA following the grounding of the carrier -- from July 7 or July 8 and subsequent relaunch of the operations from middle of next month.
Consumption-related stocks, such as hotels, and quick service restaurants (QSRs), have been hitting the ball out of the park ahead. On the other hand, the Miss World Pageant scheduled for later this year in New Delhi, too, could provide some tailwind to these stocks, especially hotels and aviation. However, analysts suggest investors put their best foot forward and buy these counters only on a decline given the recent rally and economic headwinds.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
Jet Airways CEO-designate Sanjiv Kapoor on Monday said the new management does not want to be "in a rush" to restart operations while asserting that the airline will be unique and different. The ownership transfer of the airline under the insolvency resolution plan is facing hurdles over differences between the winning bidder and lenders. "We don't want to be in a rush," Kapoor said.
International oil and gas giant Royal Dutch Shell is all set to foray into distribution of Aviation Turbine Fuel, fuel for airplanes.
The government on Wednesday directed online travel aggregators to process pending refunds related to air ticket bookings during the coronavirus lockdown period by the third week of November. In the wake of the coronavirus pandemic, there was a nationwide lockdown for varying periods starting from March 25, 2020, and scheduled commercial flight services were also suspended for a certain period. On Wednesday, the consumer affairs ministry held a meeting with online travel aggregators to discuss issues prejudicial to consumer interest in the travel sector.
As two more bodies were recovered from the accident site on Tuesday, the total number of confirmed dead has climbed to 71, Nepal Army spokesperson Narayan Siwal said.
In another tweet, the PMO said Modi chaired a high-level meeting to review the ongoing efforts to contain the spread of coronavirus.
As per the current policy, 100 per cent foreign investment is allowed in scheduled air transport service, domestic scheduled passenger airlines and regional air transport
Tata Group-owned Air India will buy 250 aircraft, including 40 wide-body planes, from Airbus as the airline expands its fleet and operations. This is the first time in more than 17 years that Air India has placed an aircraft order. It is also the first order placed by the carrier under the ownership of Tata Group. On Tuesday, Tata Sons chairman N Chandrasekaran said Air India has signed a letter of intent to acquire 250 aircraft from Airbus.
The United Kingdom government on Tuesday said that though the air traffic control 'technical issue' that led to the severe disruption of hundreds of flights and left thousands of passengers stranded has been resolved, routes will continue to be affected for some days as airlines scramble to recover from the domino effect on their schedules.
From a surge in airfares to rattled aircraft lessors to thousands of employees staring at uncertainty, it has been a month of continued turbulence since cash-strapped Go First suspended flights from May 3. As the government and other stakeholders hope that Go First restarts operations at the earliest, plans are being worked out for the budget airline's revival. A section of Go First staff are optimistic about restarting of operations, another section are pessimistic about the airline's future course considering what had happened to erstwhile Kingfisher Airlines and Jet Airways, according to employees who spoke to PTI.
Nepalese rescuers resumed their search on Monday for four persons still missing after a passenger plane with 72 people, including five Indians, crashed into a river gorge while landing at the newly-opened airport in the resort city of Pokhara, killing at least 68 people onboard.
The outage comes as a result of the failure of the Notice to Air Missions system, which alerts pilots and other personnel about airborne issues and other delays at airports across the country.
The nine-member team is enquiring with the airlines' staff and concerned authorities in Pokhara to understand details of the ATR-72 aircraft crash.
The woman said she was constrained to approach the court because Air India and the DGCA failed to treat her with care and responsibility after the incident.
"The experience was incredibly enriching, significantly bolstering my confidence in our country's indigenous capabilities, and leaving me with a renewed sense of pride and optimism about our national potential," he said.
The flight was operating from Delhi to Doha in Qatar and was diverted to Karachi in Pakistan.
Valhalla is undoubtedly enriched by the presence of Unnikrishnan Gangadharan Kartha. He would have already convened the 'fall in' and regaled his friends with tales of the distant land that they once inhabited.
Jet's air operator certificate will lapse on May 19.
In recent times, there have been various incidents of unruly passengers onboard domestic and international flights.
The government has cut the windfall profit tax on crude oil produced in the country while the levy on exports of diesel and ATF has been hiked, an official notification said. The tax, levied in the form of special additional excise duty or SAED, on domestically produced crude oil was reduced to Rs 6,700 per tonne from Rs 7,100 a tonne. SAED on the export of diesel was increased to Rs 6 per litre from Rs 5.50 a litre and on jet fuel or ATF to Rs 4 per litre from Rs 2, the notification said.
The Board for Reconstruction of Public Sector Enterprises wants to examine the grave financial problems of Air India, but neither the Civil Aviation Ministry nor the national carrier has responded to the BRPSE offer.
The proposal is awaiting final policy sanction from the home ministry.
Arvind Jadhav, a senior IAS officer and the current CMD of Air India, was sent back to parent Karnataka cadre.
The government on Monday decided to immediately dispatch search and rescue teams of the National Disaster Response Force, medical teams and relief material to earthquake-hit Turkey following Prime Minister Narendra Modi's instructions to offer all possible assistance to the country.
A three-member technical team of the FAA carried out the second round of audit of the Directorate General of Civil Aviation to check whether corrective steps have been taken to resolve 33 deficiencies the US agency had highlighted during the first round in September.
'This kind of a last minute order creates immense problems for airlines.'
Civil Aviation ministry has cancelled approval to the controversial private airport project at Aranmula in the Pathanamthitta district of Kerala.
The airline had reported a net loss of Rs 321.5 crore or Rs 3.21 billion in the same period a year ago.
A helicopter carrying pilgrims from Guptkashi to Kedarnath crashed on Tuesday amid poor visibility and seven people on board are feared dead.
'People will say a lot of things -- ignore the noise.'
The Nepalese citizen was handed over to security agencies on arrival at the airport in New Delhi.
Plans to rake in Rs 900 crore from marketing engineering, cargo & training services.
Analysts say this is a reflection of the high debt that most aviation companies have on their books. "Aviation companies are unable to pay their dues because they are into losses.
The incident which took place on Friday came close on the heels of two mid-air urinating incidents on the international flights of Tata Group-run private carrier Air India late last year.
National Aviation Company India Ltd, which runs Air India, is likely to receive government approval for its second equity infusion of Rs 1,200 crore (Rs 12 billion) by next week.
The BSE Midcap and the S&P BSE Smallcap indices outperformed to gain 0.6% and 1.1%, respectively
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
President Ram Nath Kovind addressed the nation on the eve of India's 75th Independence Day. Here's the text of what he said:
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