Earlier, PE firms such as Goldman Sachs and Indigo Partners had evinced interest in the Indian aviation market.
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
The secret behind Singh's success was that he mostly set about undoing all the mistakes made by the Marans, points out Anjuli Bhargava.
IndiGo's size should be compared with global carriers, and not other domestic airlines, chief executive officer Pieter Elbers said on Tuesday, adding that such benchmarking will help India transform its airports into aviation hubs. Elbers flagged the tendency to scrutinise domestic competition, assess fares on domestic routes, and determine if they are high. "But if we want to build some hubs, we should have a broader look," he said during a panel discussion at a convention organised by All India Management Association (AIMA).
Each region in India has its own culinary narrative that speaks through its distinct dishes. Each cuisine packs within itself, textures, layers, ideas and historical nuggets so that all of Indian food cannot be pigeonholed together to say that there is one Indian cuisine. A fascinating extract from Sonal Ved's Whose Samosa Is It Anyway?.
Some airline sources, however, fear it will reduce overall yields
While the number of operational airports in the country will rise to 131, other smaller towns too are seeing a surge in connectivity.
SpiceJet, on the verge of a shutdown two years ago, is now looking at joining a burgeoning global league of low-cost long-haul airlines by providing a Rs 30,000 to-and-fro fare to western European destinations. Chairman and managing director Ajay Singh elaborates.
SpiceJet has cut costs to turnaround the carrier in a year's time.
Long-haul low-cost carriers like Scoot and AirAsia X offer a similar configuration.
The Indian aviation sector is on the cusp of a change as airlines look to induct a record number of aircraft. This, analysts said, will put the sector on a growth runway, though keeping it viable for only long-term investors. According to Vinit Bolinjkar, head of research at Ventura Securities, expectations of strong air traffic, coupled with low penetration, is the prime reason for a solid long-term outlook.
The Cabinet has cleared a Bill to set up a government-owned development finance institution (DFI) with initial paid-up capital of Rs 20,000 crore so that it can leverage around Rs 3 trillion from the markets in a few years to provide long-term funds to infrastructure projects as well as for development needs of the country. To put it in perspective, Rs 3 trillion constitutes slightly less than 3 per cent of the Rs 111 trillion to be spent on over 7,000 projects in the National Infrastructure Pipeline from 2019-20 to 2024-25. Besides, the government will give Rs 5,000 crore as grant to the institution, Finance Minister Nirmala Sitharaman on Tuesday told the media after the Cabinet meeting.
From croissants to Galouti kebabs and Medu vada, Indian carriers, both low-cost and full-service, are revising their in-flight menus to offer passengers a differentiated fare as competition is heating up amid the boom in air travel with the waning of Covid-19. On Monday, Air India, which was taken over by the Tata Group on January 27, unveiled its new domestic in-flight menu comprising gourmet meals, new appetizers, desserts, and local dishes. Air India's economy class passengers would now be served dishes such as Mushroom cheese omelette, Dry jeera aloo wedges, and Garlic tossed spinach and corn for breakfast, and Vegetable biryani, Malabar chicken curry, and mixed vegetable poriyal for lunch.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
After a 59-year wait, an ancient trade route across a 150-year-old bridge is open near the India-China border in Uttarakhand.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
While there is no concrete proposal as of now, possible options include raising funds through securitisation of ticket levy and reduction in number of subsidised seats on routes with higher demand.
SpiceJet, IndiGo, Jet Airways, Alliance Air, and Turbo Aviation are among the operators that have bagged the routes in the third round.
Vistara started allowing passengers to book an extra seat from Tuesday. IndiGo and SpiceJet, too, are in the final stages of designing such a product to be sold as an add-on.
A day after budget carrier SpiceJet announced fares starting at Rs 499 across its domestic network, Jet Airways too jumped on the bandwagon rolling out Rs 500 fares for the economy class on its domestic flights for a limited period.
In the fifth part of this series on North East Indian fashion designers, Sanjukta Dutta tells how she redefined Assam's traditional attire Mekhela Chador with her prolific sense of fashion and creativity.
Anshuman Magazine of CBRE discusses effective leadership, millenials, Trump's America and his core business -- the real estate market -- with Nivedita Mookerji.
The Taliban have stopped all imports and exports with India after entering Kabul and taking over the country on Sunday. Ajay Sahai, Director General (DG) of Federation of Indian Export Organisation (FIEO) told ANI that currently, the Taliban has stopped the movement of cargo through the transit routes of Pakistan, thereby stopping imports from the country.
The load factor of six major domestic airlines--IndiGo, SpiceJet, Air India, GoAir, Vistara and AirAsia India -- stood between 70 per cent and 64.9 per cent in January.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
'Whether it's a morning walk, an evening swim or an afternoon workout in the gym, just get moving.'
CAT is worth a watch, recommends Deepa Gahlot.
Trekking is a truly transformative experience. Let me tell you why.
Many argue that the airline could achieve its full potential if Nusli Wadia were to run it the way he does Britannia.
Key stimuli of the government's relief package will be a tax break on jet fuel, waiver of parking and landing charges at airports for the next six months and deferment of payment to oil companies by three months.
However, while the capacity void in the domestic market has been filled, a vacuum still remains in international connectivity, especially on the India-Europe and onwards route, which was well connected by Jet Airways via the Boeing 777, Airbus A330 aircraft and its hubs in Paris and Amsterdam.
Race Across America -- which spans a little over 3,000 miles, from the west coast of the US to its east -- is often called the toughest race in the world. Indian cyclists are now returning multiple finishes at RAAM including podium positions within age categories, discovers Shyam G Menon.
Air India, SpiceJet, IndiGo and AirAsia India ready to fill in the gap.
Modi's 'UDAN' project faces fund crunch as too many airlines have come on board
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
Jet Airways, SpiceJet and Vistara also operated all women crew flights, though on their domestic network.
The airfares are already 15 per cent higher than last season and due to this shortage it will go higher, said Sharat Dhall, COO of Yatra.com.
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