The Forbes magazine had adjudged Maran as the 38th richest man in India, with a net worth of $2.3 billion (as of September).
Subash Chandra's Indian Cricket League can breathe a sigh of relief.
Cash-strapped SpiceJet has cancelled over 1,800 flights across the country for the current month, in signs of mounting troubles for the budget airline.
'The larger story of systematic destruction, which can and has been quantified, goes mysteriously missing from any political and/or public discourse about the ongoing devastation in the Ghats,' notes Prem Panicker.
There could be rejig at top level at SpiceJet.
The airline management has now sought a meeting with civil aviation minister Ashok Gajapathi Raju to present the airline's plan.
Spice Communications, a company that offers GSM services in Punjab and Karnataka through its Spice Telecom brand, intends to raise Rs 520 crore (Rs 5.20 billion) through its initial public offering (IPO).
A revamped Air India under the Tata Group will be a real challenge while new airline Akasa Air will be a far less competitive force for the next two-three years, IndiGo CEO Ronojoy Dutta said on Wednesday. Akasa Air, which is backed by former IndiGo president Aditya Ghosh, ace investor Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dube, got the no-objection certificate (NOC) from the Ministry of Civil Aviation on Monday.
The prospective owners of Indian low-cost carrier SpiceJet Ltd plan to cut the airline's fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said.
Indian budget airline SpiceJet has agreed to buy around 40 Boeing 737 passenger jets worth over $4 billion at list prices as it seeks to modernize its fleet and climb out of the red, industry sources said on Tuesday.
SpiceJet has cut capacity by reducing its fleet to 35 Boeing 737 aircraft from 42 in December.
Spicejet has sought extention from the Airports Authority of India over payment schedule.
While fares on the Delhi-Mumbai route have risen 45 per cent, Delhi-Bengaluru and Mumbai-Bengaluru tickets are priced 57 per cent and 42.5 per cent higher, respectively.
The department of telecommunications has raised questions about the merger between Idea Cellular and Spice Telecom violating key clauses on intra-circle merger and mobile licence conditions.
The CEOs met late last month to discuss the agreement. Industry experts said one advantage would be the fact that GoAir was looking at increasing its fleet to 20 aircraft by 2011. "If SpiceJet acquires the airline, it will gain access to slots for the aircraft orders which it can sell," said an industry expert. Selling order slots has emerged as a lucrative revenue stream for several Indian airlines that are feeling the pinch of falling passenger traffic.
Aditya Birla group firm Idea Cellular on Monday made an open offer to the shareholders of Spice Communications for acquiring additional 20 per cent stake in the telecom services provider for about Rs 1,066.63 crore (Rs 10.66 billion).
Retail inflation eased to an 11-month low of 4.83 per cent in April as prices of some kitchen items declined though overall food basket firmed up marginally, according to a government data released on Monday. The Consumer Price Index (CPI)-based retail inflation was 4.85 per cent in March. It was 4.7 per cent in April 2023.
Low-cost carrier SpiceJet Airlines, promoted by a group of investors led by the Kansagra family and Delhi-based Ajay Singh, is working on a plan to start international operations next year, making it the third private Indian carrier after Jet Airways and Kingfisher to fly overseas.
The car was expected to have a price tag of Rs 10 lakh and launch was slated for this June.
Low-cost carrier SpiceJet will receive about $65 million within a week as the second tranche of investment by US private equity firm WL Ross and Co and by Goldman Sachs.
Telecom to Telekom Malaysia in an attempt to complete the merger, sources involved in the negotiations said, declining to be identified. The group has hired Enam Financial as adviser to the transaction. Investment banking sources said the lawyers from both the parties are now busy structuring the deal so that the acquisition meets all the regulatory norms of the country and the Birlas retain control over Idea Cellular.
Civil Aviation Minister Ajit Singh inaugurated the 5-day long event.
Key shareholders of low-cost airline SpiceJet have rejected an offer by the Reliance ADA Group to pick up a 51 per cent stake in the airline for Rs 40-45 per share. The offer was made last week.
Indian sweet, snack, and restaurant chain group Bikanervala, with revenues of over Rs 3,000 crore, is working towards an initial public offering (IPO) for its food company in the next three years. Before that, it could also bring in private equity (PE) investors. The low-profile Aggarwal family-owned group company, Bikanervala Foods (which also sells under the brand name Bikano), operates in the snack business.
Looking for party starters for New Year?
BK Modi-promoted group registers company 10 days before the deadline
Qatar Airways might infuse $200 million in debt and equity in SpiceJet.
Mallya recently acquired 26 percent stake in the country's largest budget airline, Air Deccan.
It will be like Ghar ka Swad Davos mein for the PM.
Birla group firm Idea Cellular Ltd and Modis-owned Spice Telecom on Friday dared the government to allocate spectrum to those mobile operators who submitted applications after them.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
SpiceJet is in talks with aircraft makers for a jet deal.
'A campaign that goes beyond caste, creed and religion.' 'This is a campaign that aims to end hunger in society'
Chief Operating Officer, Sanjiv Kapoor will be leaving the company effective October 31, 2015 after two years with the organisation.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
'Since there is no photo-op, or quick fix solutions, politicians do not want to address climate change. It is very unfashionable.'
Indian airline SpiceJet Ltd said on Thursday that its billionaire owner, Kalanithi Maran has proposed to transfer majority ownership in the ailing carrier to co-founder Ajay Singh.
Stocks of SpiceJet on Friday surged nearly 10 per cent after the company returned to original promoter Ajay Singh for its revival in a multi-layered deal worth up to Rs 1,500 crore (Rs 15 billion).
'The more educated a young person is, the higher the chances of him or her remaining unemployed.'
