Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
The double-decker plane, flight QF32 bound for Sydney from Singapore, was carrying 433 passengers and 26 crew when it ran into trouble shortly after take-off and had to return to the city-state's Changi Airport leaving a trail of smoke
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The airline, which posted an annual loss of Rs 191 crore (Rs 1.91 billion) for the past financial year, has been looking to raise funds for months.
The government on Tuesday confirmed that a French court has ordered the freezing of certain Indian assets in Paris on a petition by Britain's Cairn Energy, which is seeking to recover $1.72 billion from New Delhi after winning an arbitration against retro tax. Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy. "Yes sir, an order has been passed by a French Court freezing certain Indian government properties in the case pertaining to Cairn Energy," he said.
Cairn Energy and Air India have jointly asked a New York federal court to stay further proceedings in the British firm's US lawsuit targeting the airline for enforcement of a $1.2-billion arbitral award. The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI. The British company had won an international arbitration award against levy of such taxes and sought to take over Air India assets when the government refused to honour the award and pay it $1.2 billion-plus interest and penalty.
The A350 XWB is a family of mid-sized wide-body airliners designed to enhance fuel, operating costs and environmental efficiencies during medium-to-long haul airline operations.
However, this was subject to conditions like substantial ownership and effective control of the airline being vested in Indian nationals.
These airports with all the modern amenities make travel a memorable experience for passengers.
The launch marks the first time that Kingfisher Airlines is adding destinations from South East Asia to its international route network.
The NCP leader said that he will be happy to cooperate with the ED so that the agency understands the "complexities" of the aviation sector.
At a time when airline across the world is hit due to slowdown and Air India is facing its worst-ever crisis, Kingfisher Airlines announced the launch of flights on eight international routes before the year-end.
Amid reports of sighting of more debris by a Russian search team, divers on Tuesday recovered two more bodies from choppy waters in the JavaSea, though there was still no trace of the crucial black box of the crashed AirAsia aircraft that crashed nine days ago.
The main sectors that receive the maximum foreign inflows include services, computer software and hardware, telecommunications, trading, construction, automobile, and power.
The airline with a 66-aircraft fleet said on Monday that it would be inducting 16 planes this year and the remaining 12 by 2014.
The reduced fare offer is also available for travel on partner airline Etihad Airways flights
Malaysia's low cost carrier Air Asia and Singapore-based Tiger Airways have been locked in a war of words, with heads of both the companies taking digs at each other in public over alleged racist remarks by the Malaysian carrier's ethnic Indian chief.
During the first phase of the Vande Bharat mission, Air India and its subsidiary Air India Express are scheduled to operate a total 64 flights between May 7 and May 14 to bring 14,800 Indians from 12 countries on a payment basis.
AirAsia Indonesia allegedly violated standard procedures which resulted in the pilots of the airline's doomed plane not receiving a required weather report before takeoff, a media report has said citing leaked official documents.
Along with the pilots, 434 cabin crew too have evaded the mandatory breath analyser test, which is to be taken both before and after operating a flight
It is our only chance of avoiding a repeat of our catastrophic second wave, asserts Naushad Forbes.
Singapore's Changi Airport which has been ranked as the world's best airport over the years will open its fourth terminal in 2017.
'I will not bog down with the setbacks. I am going to republish the book. All the copyrights rest with me,' former executive director of Air India Jitendra Bhargave tells Tinesh Bhasin about Praful Patel's pressure to withdraw his book.
Air India-Singapore Airport Terminal Services, the ground handling arm of the state-owned carrier, will hire 90 per cent of its workforce on contract to start operations at the new terminal of the Delhi airport, according to a senior Air India official. AISATS is a 50:50 profit sharing joint venture between AI and the Singapore-based company. The airline selected SATS as its partner in September 2008.
Engineers of the Indian Airlines threatened to launch an agitation against the proposed JV between IA and Singapore International Airlines for maintenance, repair and overhauling of aircraft, including those of foreign airlines in India.
In a significant development, Singapore International Airlines and domestic flag carrier Indian Airlines have joined hands to explore the formation of a joint venture for maintenance, repair and overhauling of aircraft
No-frills carrier SpiceJet is in active discussions with Singapore-based budget carrier Tigerair for a possible stake sale even as they are set to sign a code share agreement soon, sources said.
The new airline will leverage business class seats to improve yield per passenger and fly only to big cities.
The flight with 149 passengers on board was escorted back by Dutch F-16 fighter planes after a few passengers "displayed behaviour of concern".
The right mix of imagination and love for cooking can take you places, literally!
State-run Air India has withdrawn its 10 direct flights to international destinations in the last three years due to poor passenger load.
Another reason working in Air India's favour now is the government's plan to clean up part of the airline's burgeoning debt from its books - a major deterrent for investors when it attempted divestment the previous time.
Air India's website, which went down two days ago after the airline offered a special fare of Rs 100, was apparently blocked by a few sites in India and abroad for a considerable time.
Air India buyer has to take over interest-bearing debt of Rs 16,500 crore a large portion of which is aircraft related, meaning they are backed by aircraft value
With oil prices in a free fall, the airline is looking at regaining some of its lost share.
Lohani orders staff to ensure maintenance and cleanliness of hi-lift catering trucks
About 2000 travel agents across the country are not selling the airline's tickets in protest against the decision not to pay any commission.
Following recent govt moves, seizures shoot up in Nepal and Bangladesh
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
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