In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Rakesh Jhunjhunwala-backed new airline Akasa is in talks with US aerospace company Boeing for buying up to 100 737 Max aircraft. Former Jet Airways CEO Vinay Dube and his family members are promoters while ex-IndiGo president Aditya Ghosh is a board member of the airline. The airline is in negotiation with Boeing and has reached out to the government to recertify the aircraft which has been grounded since 2018 after two crashes killing 349 persons, according to sources in the know.
Government officials say a shareholding structure has been mandated to discourage non-serious bidders from accessing Air India's data room
The much-awaited offer is also seen as a test case for revival of big-ticket sales in the primary market.
Out of the total amount, Rs 17,359.77 crore is aircraft loan, while Rs 31,517.04 crore is working capital loan.
Engine snag forces IndiGo to ground 7 new aircraft
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
The place, a melting pot of people from the world of art and culture for decades, had downed its shutters on March 20 this year after the West Bengal government imposed a lockdown.
While most of these commanders quit the airline for better prospects, some of them also parted ways due to the work culture
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
For Jet's revival, Mr Jalan should be on the scene long enough for everyone to get to know him, appreciate his skills, and not vanish into thin air within a matter of months or even weeks, observes Anjuli Bhargava.
IndiGo's president and director Aditya Ghosh apologised for the incident and said stern action was taken against an airline staff for manhandling the passenger.
Country's largest airline has set up a centralised unit to minimise disruptions.
Civil Aviation Minister Ashok Gajapathi Raju has sought an independent probe by the Directorate General of Civil Aviation after a video surfaced on Tuesday showing an IndiGo ground staff brawling with passenger Rajeev Katiyal at the Delhi airport last month.
Days after low-cost carrier AirAsia announced it would launch its India operations by the end of the year, IndiGo Airlines President Aditya Ghosh, 38, tells Sudipto Dey in an interaction why his airline is not one that should be worried.
The fare will be cheaper as it will be capped at Rs 2,500 per passenger.
The mid-and small-cap segments at the bourses have outperformed their larger peers thus far in fiscal 2023-24 (FY24). While the S&P BSE Small-cap index has surged around 5.7 per cent in FY24, the S&P BSE Midcap index has gained 4 per cent during this period. In comparison, the S&P BSE Sensex has moved up around 2.2 per cent.
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.
Some years ago, Rakesh Gangwal reportedly said his relationship with Rahul Bhatia evolved in an amazing friendship, which he termed 'blind trust'. The question is whether that is under scrutiny now.
This is a setback for the divestment process of Air India as no other Indian airline has the capability to fund the process
Some airlines, says Anjuli Bhargava, are convinced there's a conspiracy to malign them.
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
DGCA rules require pilots to service a six-month notice.
An integrated team of 200 staff crunches data to minimise disruption for 149 planes, but airport infrastructure poses a challenge
Many across Corporate India seem to have taken a leaf out of Modi's endorsement of healthy living through yoga.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
If your flight is cancelled or delayed or you miss one, a travel insurance policy can cover the costs at such times and help you book a new one.
7,000 unemployed pilots in India but airlines continue to bet on expats
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
SpiceJet promoter Kalanithi Maran would need to invest at least Rs 1,500 crore (Rs 15 billion) almost immediately to stabilise the airline.
IndiGo's ascent is not without its risks, however.
The international operations of Air India seem to be the main attraction for IndiGo, which has also flagged concerns about some foreign overseas airlines being allowed "disproportionate access" to the Indian market.
'I wasn't getting the roles I wanted to play and the respect I thought I deserved as a senior actor, so I cut myself off from the industry for a while and moved to the US.'
The lower quarterly profit was mainly due to rise in fuel costs, foreign exchange loss and lower yield
Would all the planes standing around in the floodwaters able to fly out this weekend, if the waters recede? Or would they need to go for a health check-up?
Air India said it has also written to the Shiv Sena communicating the decision to cancel the ticket. Shiv Sena Secretary Anil Desai said that he has asked Gaikwad to change his travel plans as the party doesn't want the tensions to escalate.
Analysts question negative net worth because of dividend payout ahead of IPO.
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