The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
We live in hope that India and its airlines might finally grow up, notes Anuli Bhargava.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
Following the entry of Tata-SIA and AirAsia into the Indian aviation market, the domestic aviation industry is seeing increased interest from private entities.
Vistara is likely to offer 148 seats in a three-class configuration in its Airbus A320s, industry sources said.
AirAsia India, which is using the training facilities of its parent airline AirAsia in Malaysia, plans to set up similar facilities in India in the coming years, airline sources said.
This is the first time that AirAsia chief has raised concerns about the dual airline strategy of the Tata group, his partner.
TCS has acquired Singapore Airlines' 51 per cent stake in Aviation Software Development Consultancy India Ltd for Rs 14.02 crore.
Vistara has fine-tuned strategies to tap the elite class and Jet Airways may lose out on market share in times to come.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
Minister of State for Civil Aviation Jayant Sinha emphasised that the brand name has both sentimental and economical value.
Market estimates suggest the airline has already totted up Rs 1,800 crore of losses in FY20, and FY21 is expected to see losses in the region of Rs 2,500 crore to Rs 3,000 crore Many in the sector say that Vistara lacks the light-footedness of the airlines with which it competes, reports Anjuli Bhargava.
Paving the way for launch of its flights, Tata-Singapore Airlines joint venture airline Vistara was on Monday granted flying permit by aviation regulator DGCA, almost nine months after it applied for the licence.
Indian airlines currently are required to have a minimum fleet of five aircraft and five years of operational experience for starting international services.
Vistara launched first flight from Hyderabad to New Delhi on Sunday.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15 per cent.
Finance Minister P Chidambaram has supported Civil Aviation Minister Ajit Singh's suggestion on doing away with a rule that bars Indian carriers from flying abroad unless they complete five years of service and own a 20-aircraft fleet.
The first Airbus A-320 aircraft of Tata-SIA joint venture Vistara airline, painted with its logo and livery, landed at the IGI Airport in New Delhi on Wednesday, taking the carrier a step closer to its launch.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
The government has initiated the process for inviting financial bids for the sale of national carrier Air India and the deal is likely to conclude by September, sources said. Salt-to-software conglomerate Tata Group was among the "multiple" entities that had put in preliminary bids for buying loss-making Air India in December last year. The sources said that after analysing the preliminary bids, eligible bidders were given access to the Virtual Data Room (VDR) of Air India, following which investors' queries were answered.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
The civil aviation ministry received 20 applications and it granted NOCs to sixteen companies between 2009 till now
Vistara will operate from its base Delhi and fly to Mumbai, Bengaluru, Hyderabad, Goa, Chandigarh, Srinagar, Jammu and Patna in the first year as per its plan submitted to DGCA while applying for the AOP.
It and Vistara both book slots here; former also likely to launch Mumbai flights from early 2015.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
Vistara has a three-class configuration with business, premium economy and economy cabins.
Chief Operating Officer, Sanjiv Kapoor will be leaving the company effective October 31, 2015 after two years with the organisation.
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.
The DGCA official who wrongly assigned the code of Antonov AN-32 -- an aircraft used by the IAF -- to the SpiceJet aircraft has been suspended, report Arindam Majumder and Aneesh Phadnis.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
Apart from the Adani group, the Tata group, the Hinduja group, Indigo and a New York-based fund, Interups, are expected to submit EoIs.
In a move which could affect the Jet-Etihad deal or start-up carriers like Tata-SIA or AirAsia India, DGCA has made it clear that foreign airlines or investors would not have the right to control the management of an Indian carrier.
Six months into his new role, Vishal Wanchoo, president and chief executive officer, GE, South Asia, speaks to Jyoti Mukul about how its horizontal business lines of additives and digital are playing across its verticals.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
The government was also working on a package to promote connectivity and airports in the North Eastern states
Even a rump Air India could not hope to get away with the shoddy service and scrappy fare for which I paid nearly two lakh, complains Sunanda K Datta-Ray.
