We are only 9-10 months into the turnaround exercise: Maran
Teenaged Indian Grandmaster D Gukesh shot into sole lead after defeating Firouzja Alireza of France in the 13th and penultimate round of Candidates' Chess tournament in Toronto on Saturday, his quest for the extraordinary placing him on the cusp of becoming the youngest ever World Championship contender.
No-frills airline SpiceJet on Wednesday launched yet another round of limited-period low fare offers to fill its seats for travel between July and September when air travel generally slumps.
The move comes within days of Indian Railways announcing an increase in fares from January 21.
Spicejet has consolidated its base fare by including fuel surcharge in it.
The civil aviation ministry appears supportive of SpiceJet because it does not want another airline to fail. The real test now will be the capacity of the airline's chairman, Kalanithi Maran, to raise funds. And he needs to do this quickly.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
To turnaround, the airline bets on heavily-discounted tickets and new overseas routes.
In 2017 only the Jeju-Seoul Gimpo route (with over 64,991 flights) and Melbourne-Sydney (54,519 departures and arrivals) were busier than Mumbai-Delhi.
The airline has already commenced the sale of tickets for the new destination, which will be the ninth international sector to be served by carrier, SpiceJet said.
If all 102 grounded planes could fly, there will theoretically be 400 more Delhi-Mumbai flights every day.
The state-run carrier will shortly invite bids to replace its fleet of 11 ATR-42s and Bombardier CRJ planes with newer fuel-efficient turbo prop planes to improve its operating result.
SpiceJet has reported profit in Q1, it is trying its best to improve efficiencies in FY16.
It is imperative that the government first decides who should assume ownership of running Air India.
Owing to another rise in jet fuel prices this month, airlines, such as Spice Jet, have decided to hike the fuel surcharge levied by them on tickets by Rs 150 for short haul sectors (less than 750 kms) and by Rs 350 for long haul sectors (more than 750 kms).The fuel surcharge for short haul routes now stands at Rs 1,950 while for long haul sectors it is Rs 2,350.
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.
Shares of SpiceJet surged over 17 per cent on Monday after ace investor Rakesh Jhunjhunwala's Rare Enterprises picked up 75 lakh shares of the company for more than Rs 13 crore (Rs 130 million) through open market.
Competition promotes innovation in the business model, creating sustainable value.
According to sector estimates, it takes at least six months to develop a route.
Fuel costs, interest and lease rentals increased but an increase in other income (Rs 11 crore) and non-operating income (Rs 28 crore) helped the airline to boost revenue and contain losses.
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.
With a contrarian approach to the Indian market, Mills has reconfigured SpiceJet and eked out its first profit in five quarters. His plan is not without risks.
Ajay Singh is trying hard to turnaround SpiceJet.
Despite a bleak operating environment, Jet Airways and SpiceJet have flown into the black. The turnaround may have more to do with their embattled rivals than anything else.
Ministry sources say investors are looking at pumping in around Rs 1,100 crore
The aviation authority is concerned about financial health of Air India, Spicejet and Jet Airways.
Sanjiv Kapoor questions the rival's change in strategy and claims of full load.
At the height of its troubles and desperate to mop up cash to fly the next day, SpiceJet was offering ridiculously high deposit incentives to travel agents and online portals -- incentives it could ill afford.
Under new Chairman Ajay Singh, the airline has cut routes - its capacity is down a third since last year - and costs.
Budget carrier SpiceJet on Friday triggered off a price war in the aviation industry announcing one-way discounted fares starting Rs 1,999 for travel between September and December this year, prompting IndiGo to follow with a similar offer soon after.
The airline reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
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SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
We have cleared all dues to our employees, says Ajay Singh
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).
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.
As per the current policy, 100 per cent foreign investment is allowed in scheduled air transport service, domestic scheduled passenger airlines and regional air transport
Earlier, PE firms such as Goldman Sachs and Indigo Partners had evinced interest in the Indian aviation market.
The secret behind Singh's success was that he mostly set about undoing all the mistakes made by the Marans, points out Anjuli Bhargava.
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?.
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