Tata Group-owned AirAsia India, which is in the process of being merged with Air India Express, has taken short-term loans worth Rs 630 crore during the last six months to deal with cash crunch. AirAsia India has been making losses since its first commercial flight on June 12, 2014. Its net loss increased by 42 per cent to Rs 2,178 crore in FY22.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
Executives from India's leading airlines are conducting internal meetings to devise alternative routes for their international flights that currently pass through Pakistani airspace.
After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
The threats via microblogging platform X came a day after three international flights originating from Mumbai received bomb threats, causing trouble to hundreds of passengers and airline crew.
"A passenger, who had a COVID-positive certificate dated September 2, travelled on Air India Express' Jaipur-Dubai flight on September 4. A similar incident had happened with a passenger on one of the airline's other Dubai flights previously," said one of the officials.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
Amid continuing uncertainty over the fate of the national carrier, an official said there is also need for funds to restart operations of 12 grounded narrow-body planes.
The move will help to reduce Air India's distribution cost by 60 per cent
Families of victims of the Air India plane crash have hired a US law firm to explore legal options, seeking answers and accountability.
The development comes as relations between the two countries showed marked improvement following the four-day military conflict between Pakistan and India in May.
An official expressed hope that the DNA profiling all the victims will be completed by either Tuesday evening or Wednesday morning.
A total of 17 pilots of Air India, IndiGo and Vistara died due to COVID-19 in May when the country saw the peak of the coronavirus pandemic's second wave, sources said on Thursday.
With the planned ceremony not going ahead in the UK, a formal announcement on the renaming of the trophy is scheduled for June 19, on the eve of the series-opener at Leeds.
President Droupadi Murmu undertook a sortie in a Rafale fighter jet from the Air Force Station in Ambala. This follows a previous sortie in a Sukhoi-30 MKI fighter aircraft in April 2023.
Indian airports' push to become global hubs will depend on reducing passenger leakage to rival airports abroad, scaling up direct long-haul connectivity, and offering transfer experiences that are faster, smoother, and more attractive than those of regional competitors, said panellists at the Business Standard Infrastructure Summit on Thursday.
Her team scour platforms and trains, looking out for vulnerable children accompanied by adults who look or behave suspiciously or whose presence makes the child uncomfortable. They also look out for children travelling alone. 'We watch, listen and talk. All this is done tactfully and sensitively because we are dealing with young children.'
Falling jet fuel prices and a revival in domestic traffic growth offer the new CMD a once in a lifetime opportunity.
India Post has suspended all mail operations to the US due to a lack of clarity regarding new customs regulations imposed by the US Customs Department. The suspension affects all categories of mail, including letters, documents, and gift items.
British Airways, Lufthansa, Etihad and Singapore Airlines are scouting for an Indian partner that meets the net worth criterion
No-frills carrier IndiGo has expressed interest to buy Air India
Sources in the know said the government would initiate talks with businesses, including Tatas, shortly for divesting its stake in the national carrier.
In a statement after a meeting between Trump and Pakistan Army chief Asim Munir at the White House on Wednesday, the Inter-Services Public Relations -- the media wing of the Pakistan Army -- said they also discussed joint counterterrorism efforts.
United States President Donald Trump reiterated the claims of having to do 'something' about Greenland, saying that if US doesn't take any action, Russia and China would spring in and that Washington, DC does not want to have them as neighbours.
Maharashtra Chief Minister Devendra Fadnavis announced plans for a vast underground tunnel network in Mumbai to ease traffic congestion, describing it as a 'Paatal Lok,' a parallel road system. The tunnel grid will cover the city in multiple directions, complementing existing arterial routes and Metro corridors. Several tunnel projects are under construction, including Thane-Borivali and Mulund-Goregaon, to improve east-west connectivity. An integrated Mumbai One app has been launched to enable a common ticket for various modes of transport.
UN chief Antonio Guterres, US President Donald Trump, his Russian counterpart Vladimir Putin and Canadian Prime Minister Mark Carney were among scores of world leaders who offered condolences to the people of India in wake of the tragic plane crash in Ahmedabad on Thursday.
Praying for those affected by the aircraft accident in Kozhikode, said Indian cricket team captain Virat Kohli
Rajesh Patel, 57, said he collected nearly 70 tolas of gold ornaments, which would be priceless for the victims' kin, Rs 50,000 and a few US dollars from the scene of the deadly aviation tragedy and handed them over to the police.
Air India, which operates 72 weekly flights from various cities to Dubai, and IndiGo cancelled their services on Wednesday.
While Road Transport Minister Nitin Gadkari has been dropped, the panel now has four ministers - Shah, Finance Minister Nirmala Sitharaman, Commerce and Railway Minister Piyush Goyal and Civil Aviation Minister Hardeep Singh Puri.
The Noida International Airport (NIA), being developed as a greenfield aviation hub in Jewar, Gautam Buddh Nagar, is on track to begin operations by the end of this year.
In the past few days, more than 40 flights operated by the Indian carriers have received bomb threats which later turned out to be hoaxes.
A London-bound Air India plane carrying 242 passengers and crew crashed in a residential area moments after taking off from the Ahmedabad airport on Thursday afternoon. Many people are feared killed.
"All efforts are being made to help passengers. A formal enquiry will be conducted by Aircraft Accident Investigation Bureau," the minister said on Twitter.
Indian automotive industry leader Sunjay Kapur, chairman of Sona Comstar, passed away suddenly on Thursday. He was 53.
Karnataka Governor Thaawarchand Gehlot was on Thursday denied boarding on an Air India subsidiary AIX Connect flight over alleged 'delay' in reporting.
Two other MBBS students and three relatives of doctors are missing, she said.
Tata Sons is all set to acquire a residual stake of 16.33 per cent in AirAsia India from its joint venture (JV) partner AirAsia Berhad for $19 million (or Rs 142 crore) by early next year. The valuation is in accordance with the previous transaction under which AirAsia Berhad had sold its 32.6 per cent stake, said a banking source. Tata Group had increased its stake in AirAsia India at a valuation of $115 million.
