The domestic aviation industry is expected to report a net loss of Rs 25,000-26,000 crore this fiscal with elevated jet fuel prices and fare caps continuing to pose a major challenge for the airlines' profitability, domestic rating agency ICRA Ltd said on Thursday. The domestic airlines, however, are likely to post a reduced net loss of Rs 14,000-16,000 crore in the next financial year on the back of a "notable recovery" in air passenger traffic and lower level of debt, ICRA said. The ratings agency also estimates that the industry will require an additional funding in the range of Rs 20,000-22,000 crore during FY22-FY24.
The facility, which will manufacture nicotine and nicotine salts, will conform to stringent US and EU pharmacopoeia standards that define purity levels at 99.2 per cent for nicotine meant for pharmaceutical products. ITC will leverage the institutional capabilities of its century-old leaf tobacco business for this. ITC's cigarettes business saw disruptions across the value chain with the onset of the Covid-19 pandemic. The company mentioned in its annual report that with easing of restrictions and improvement in mobility from September 2020 onwards, the business recovered progressively over the remainder of the year to reach nearly pre-Covid levels towards the close of the year.
Encouraged by a steady recovery seen in the first two weeks of February, hospitality firms expect the business hotels in metros including Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad that have been lagging the leisure hotels in terms of revenue per available room (RevPar) to catch up in the coming months. Huge pent-up demand for MICE (meetings, incentives, conference and exhibitions) as companies slowly return to hosting physical events coupled with easing of the recently announced restrictions on international travel, will also help in getting closer to pre-Covid levels of revenue, they said. The Omicron wave that peaked in January had derailed the strong month-on-month recovery seen by the hotels since August.
Rating agencies Crisil and Icra on Monday revised down their India growth projections for the current fiscal and the second quarter mainly due to the ripple effect of slowdown in global growth and mixed crop output. Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23. "We have revised down our forecast for real gross domestic product growth to 7 per cent for fiscal 2023 from 7.3 per cent, primarily because of the slowdown in global growth that has started to impact our exports and industrial activity.
Goa, Kerala, Maldives and Dubai are among the popular destinations.
Indian and global airlines such as SpiceJet, Emirates, Virgin Atlantic among others too are marketing Covid-19 insurance products to attract passengers.
Personal accident cover should be purchased by everyone, irrespective of age, occupation or health condition, as one does not know when an accident could occur, causing hardship to the family.
'Given the worries about sluggish growth, rising interest rates and likely volatility, it's quite logical to infer that the SIP route could be the preferred way of investing.'
Here are some of the best places in Europe to chill out and get your groove back -- slowly, leisurely and enjoyably.
The depreciation in rupee may pose a problem for students who have taken loans from Indian lenders.
In December, over 1.7 million people have checked in over the weekends.
Vistara has filed for slots at the Delhi airport and is also training pilots as it prepares for operations. The Delhi-London flight is being planned from mid-August, while services to Paris and Franfkurt would be launched later.
Domestic air passenger traffic was back to the growth trajectory in June amid the falling number of COVID-19 cases in the country with around three million passengers flying on local routes in the previous month as against around two million in May, a report said on Tuesday. Though there is some recovery observed in June, stress on demand continues, driven largely by the second wave of the pandemic, limiting travel to only necessary travel, credit rating agency ICRA said in its report. On a sequential basis, domestic passenger traffic was up 41-42 per cent in June over May.
Tourist arrival growth down to 1.9% over poor marketing and terror threats. Airlines, too, have been forced to reroute following airspace closure. UK and Australia advised their citizens from travelling to Srinagar following the Pulwama attack.
From weddings to red carpet outings, the 27-year-old has given us ample of fashion goals sporting different hues of the sunny colour.
Hotels are using a combination of platforms to reach out to the guests. These include online travel agents among others. hotels in India are offering guests an option to pay now and stay later.
The second wave of the coronavirus pandemic is likely to delay recovery in air passenger traffic with an 80-85 per cent growth year-on-year this fiscal against the earlier estimate of 130-135 per cent, ratings agency ICRA said on Monday. The domestic passenger traffic, which witnessed a steady ramp-up after resumption of airport operations since May 25 last year and reached 64 per cent of the previous year levels in February, has again suffered a setback, the ratings agency said in a report. The spike in coronavirus infections towards March-end and April has resulted in several state governments implementing fresh restrictions, resulting in a marginal 0.7 per cent de-growth sequentially in traffic in March.
In a bid to capitalise on the new found interest of leisure travellers from India for China, Thiruvananthapuram-based destination management firm Great India Tour Company has lined up special tour packages to China.
By 2023, Vistara's hangars will house a total of 70 aircraft, up from the current 42.
India is ready, after battling the pandemic for two years, to travel once again.
Paris is a place brimming with history, irony and a bit of discontent.
Injury due to self-cleaning of ears with Q-tips or sharp objects like pencils, pins, forceps also contribute to hearing loss, warns Dr Aditi Sinha.
The Doha-based airline operates across 145 business and leisure destinations spanning over the Middle East, Asia Pacific, Africa, North America and South America with a fleet of 139 aircraft.
Amit Jain from Indore tells us how he stays motivated to work from home.
Sixty-seven per cent of Indian leisure travellers prefer to travel by air rather than rail or road.
'We are not organising any large celebrations on New Year's Eve to avoid last-minute changes in guidelines.'
The addition of eight new services would take the total number of flights operated by the IndiGo to 633
Adani group on Tuesday said it has taken over the management of Mumbai International airport from the GVK group. The group last August had announced that it would acquire GVK Group's stake in Mumbai airport. Adani group will have 74 per cent stake in Mumbai's Chhatrapati Shivaji Maharaj International Airport, post the stake purchase transaction, with 50.5 per cent being bought from GVK group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, it had said.
The outbreak of COVID-19 has adversely impacted the occupancy levels at hotels across 11 major cities, resulting in a decline of up to 29 per cent in revenue per available room (RevPAR) during January-March this year, according to JLL India. While occupancy level fell in a range of 5-17 percentage points, the RevPAR was down 13-29 per cent across 11 cities -- Ahmedabad, Bengaluru, Chennai, Delhi, Goa, Gurugram, Hyderabad, Jaipur, Mumbai, Pune and Kolkata.
The Oberoi Rajvilas of Jaipur, The Oberoi Udaivilas of Udaipur and the Oberoi Amarvilas of Agra have been ranked as the first, second and third best, respectively, among Asian hotels in the Travel Plus Leisure awards, The Oberoi Group said in a statement.
Mahindra Holidays & Resorts plans to have close to 5,300 rooms in the next 3- 4 years from the current 3,700 rooms.
In 2015, 130,000 Indians visited Turkey.
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
Internet facility, better and comfortable seating and catering arrangements will be provided in the specially designed coaches.
Cleartrip acquired Saudi travel firm Flyin last July and it provides bilingual ground support service and itineraries for inbound tourists.
'Every actor has a vehicle to convey a gamut of emotions.' 'My next film, Kun Faya Kun, doesn't have a single body shot.'
A recent survey observed how Indians spent more time on their phones while travelling.
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