Foton Motor plans to manufacture and sell buses and trucks here.
According to analysts, the Indian aviation industry has come out of blues and this is the right time to enter the sector as it may see a complete turnaround on account of consolidation in the industry and the increased demand due to pick-up in the business activity.
Unveiling its plans to expand fleet size to 50 aircraft by year-end, low-cost airline SpiceJet on Wednesday said it will start flights to six new foreign destinations, including Afghanistan, China and Hong Kong, by October-end.
A Srinagar-bound SpiceJet aircraft with 186 passengers on board landed under emergency conditions in New Delhi on Monday after Air Traffic Control learnt that it had suffered a tyre burst while taking off and asked it to return
A Srinagar-bound SpiceJet aircraft with 186 passengers on board landed under emergency conditions in New Delhi on Monday after Air Traffic Control learnt that it had suffered a tyre burst while taking off and asked it to return
The airline not to be put on cash and carry mode
The airlines were penalised for 'concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.'
Expanding its network in northern India, budget airlines Spicejet on Thursday launched its six-day a week service to Jammu and Srinagar.
In the absence of a chief executive officer, Delhi-based low-cost carrier SpiceJet has decided to set up a three-member management committee to take all company decisions, especially in the light of the recently-signed agreement with US-based investor Wilbur Ross.
Typically, the airline sells 40,000 seats a day.
SpiceJet Ltd., an Indian budget airline, will likely to sell a foreign currency convertible bond worth $90 million by early September to raise money for more plane purchases, a company executive said Wednesday.
After doing so to Kingfisher Airlines, the Directorate General of Civil Aviation has issued showcause notices to carriers IndiGo and SpiceJet for having allegedly cancelled flights without informing passengers.
Airline says it is in comfortable situation.
As the competition between new airlines to attract passengers becomes increasingly cut-throat, damage caused to a plane by a toppled step-ladder has become the bone of contention between the two carriers.
Some lessors have even taken the airline to court.
Terming SpiceJet's offer of rupee one fare across its domestic network as "predatory" and a "malpractice", aviation regulator DGCA on Tuesday came down heavily on the no-frill carrier and asked it to stop such pricing immediately.
We have cleared all dues to our employees, says Ajay Singh
Meanwhile, the Directorate General of Civil Aviation has also ordered an engineering audit of the airline after the carrier is said to have found it difficult to provide equipment to operate some flights.
A sudden downpour in Delhi caught citizens off guard and caused heavy waterlogging and traffic jams on Tuesday while Mumbai breathed a sigh of relief as showers stopped a day after heavy rain brought the metropolis to its knees.
Competition promotes innovation in the business model, creating sustainable value.
The company's shareholders recently okayed a move to raise Maran's stake from 38 per cent to 43 per cent.
Under new Chairman Ajay Singh, the airline has cut routes - its capacity is down a third since last year - and costs.
For the Rs 599 offer, taxes and other fees and charges, barring fuel surcharge, would be additional, but the Rs 1,999 offer is all-inclusive
A SpiceJet aircraft with 179 people on board was today grounded after a foreign traveler claimed that there was a bomb inside the plane, forcing authorities to evacuate all the Delhi-bound passengers. However, after a thorough search of the plane, authorities at the Tribhuvan International Airport in Kathmandu said that it was a hoax.
Debt laden SpiceJet has to pay Rs 1,230 crore toward dues.
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SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
The safety and security of citizens is primary for the government, he said.
Only two no-frill carriers, IndiGo and SpiceJet, have applied for permission for more flights from the DGCA this season than they did last year, official sources said, adding that other airlines have scaled down the number of flights they wish to operate this year.
The American investment bank also upgraded the stocks of both these companies to 'buy' from 'underperform', saying improving industry trends such as signs of ticket price hikes and reduced capacity will improve profitability.
According to a separate stock exchange filing by the company, Kalanithi Maran and Kal Airways have increased their holding in SpiceJet to 52.14 per cent.
The airline reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
Spice Jet to start a series of daily flights from Coimbatore to Delhi, Mumbai and Hyderabad, will lauch services to Port Blair, Pune in October.
Other airlines are expected to follow suit.
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.
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.
Sanjiv Kapoor questions the rival's change in strategy and claims of full load.
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.
We are only 9-10 months into the turnaround exercise: Maran
