In a bid to provide a competitive package for destinations to India, Cyprus Airways is looking at tie-ups with private Indian airlines like Jet and Sahara, for flights to Colombo.\n\n\n\n
As part of marketing initiatives in domestic aviation, Air Sahara has announced four more schemes to attract passengers, offering them four economy class tickets at Rs 24,000 and six tickets at Rs 33,000.
Contrary to speculation that it was seeking to revise downward the value of Air Sahara, Jet Airways' move to make part payment till the pendency of other issues demonstrated its strong desire to acquire the rival airline.
Air Sahara on Monday said it would launch a non-stop service between Delhi and Chicago in agreement with a global carrier and another to London by September-October this year.
The first to take off will be Air Pegasus, promoted by Bengaluru-based ground-handling firm Deccor Aviation.
According to the annual report, Ronojoy Dutta's remuneration package includes a gross annual salary of $1.27 million, which would be payable in rupees. Also, he is entitled for a commitment bonus payout. In FY20, he received a remuneration of Rs 11.4 crore in his role as CEO and whole-time director.
Jet had bought Sahara Airlines from the Sahara group in April 2007 for Rs 1,450 crore after an arbitration award. It paid Rs 900 crore and agreed to pay the balance in four instalments. In March 2008, the income-tax department demanded tax dues of Rs 107 crore from Sahara India Airlines. Jet decided this should come from Sahara as it pertained to the period before the acquisition.
Ending the monopoly of government-owned airlines to fly abroad, the DGCA has initiated the process of allowing private carriers to launch overseas services by asking them to file their schedules and fares for operating to Colombo.
The airfare hike will come into effect from October 14.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
Taking a hard line against plying of polluting diesel vehicles within the airport, the Delhi government has warned airline companies, including public sector Indian and private carriers Jet and Sahara, to convert their vehicles to CNG or face action
Air Sahara on Thursday announced that it would launch its international operations between April and July and change its colour to orange, white, green and blue from Friday.
The government is taking the first steps towards opening of the Gulf region to private airlines -- by setting a high-level committee under the aegis of the aviation ministry -- to examine the contentious issue.
An airline's birth is a result of passion and enterprise, often not without its challenges and ordeals. And, Tata-run airlines are no exception
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
Stressful work schedules and limited growth opportunities are taking a toll on a large number of senior professionals in airlines.
Force India co-owner Vijay Mallya has rejected speculation about his Formula One team's finances, saying they will be racing for years to come.
Air Sahara is recruiting Flight Pursers and Air Hostesses for their domestic and international sectors.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
Old-timers say Jet boss Naresh Goyal, although still razor sharp, doesn't have the same energy he once did and this reflects in his 'baby'.
Dutta was president of United Airlines, where he worked for nearly twenty years. He also served as the president of Air Sahara for two years. Moreover, he was an advisor to the restructuring of both Air Canada and US Airways.
An overriding ambition to rule the domestic skies prevented Jet Airways from becoming a strong and formidable player in the international market. The Sahara buy added to the complexity of its operations and a dilution of what the airline stood for, says Anjuli Bhargava.
Unless Naresh Goyal pulls the proverbial rabbit out of his hat or reveals an unexpected ace of spades, the airline he built from scratch - many refer to it as "his baby" - may slip out of his grasp, says Anjuli Bhargava.
American Airlines, the world's largest airline, on Friday, signed a code-share agreement with Air Sahara for its daily nonstop service between Chicago O'Hare International Airport and New Delhi
India's latest airline will now fly in a swirl of blue. Four months after being taken over by Jet, the erstwhile Air Sahara in its new avatar as JetLite is already showing signs of perking up while readying its new livery.
