However, the meeting of the company's board of directors, through video conferencing, started at 1.30 pm and ended only at 11.50 pm on Tuesday, according to a filing made to BSE at 12.51 am on Wednesday. In the 2024 December quarter, the airline, which had been facing multiple headwinds, raised Rs 3,000 crore from qualified institutional investors.
Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment.
Singapore Airlines' deal with Tata Sons (Tata) will inject a further SGD 360 million ($267 million) into Air India. It will give SIA a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with Vistara Airlines. The November 2022 deal between Singapore Airlines and Tata Sons to further inject $267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report. This agreement is still subject to regulatory approval. SIA in the statement said, "The merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India.
SpiceJet has reported profit in Q1, it is trying its best to improve efficiencies in FY16.
Satyagraha album starts on a promising note but its culmination isn't as thumping as one would expected, writes Joginder Tuteja.
The US Open has said it regrets that French player Alize Cornet was given a warning for removing her shirt during a match following complaints that the decision was sexist.
'The conventional view is that it's the women who are being provocative and drawing attention to themselves. Has anyone considered the alternative view?' asks Kanika Datta.
Experts expect a net loss of Rs 26.7 billion for IndiGo and Rs 10.1 billion for SpiceJet in Q1FY21 driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs.
The United States Tennis Association (USTA) said on Sunday it would undertake a review of its communication policies after a string of umpiring controversies at the U.S. Open.
Issues of sexism, officiating double standards and adverse playing conditions have dominated the 50th anniversary of the U.S. Open, raising uncomfortable questions and prompting authorities to promise a review of existing policies.
If oil prices continue as they are and we can cut costs, we'll be able to break even in the next financial quarter, says Singh.
SpiceJet has cut capacity by reducing its fleet to 35 Boeing 737 aircraft from 42 in December.
The company has charted out a three step process in achieving the target
Despite having started at least a decade later than Jet Airways, IndiGo accounts for the lion's share in the domestic market
Satyagraha attempts to speak about important issues but ends up over-simplifying them.
Some lessors have even taken the airline to court.
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