Rahul Bhatia, a promoter of the company, has been appointed as the interim CEO.
Oyo has recently undergone large-scale corporate restructuring, setting up several subsidiaries and bifurcating operations globally.
The founders of IndiGo may have thought it's time to go for a rejig of the top leadership team which can take care of the growing demands of an airline that has grown much bigger than they could have ever imagined, says Shyamal Majumdar.
Ghosh, 43, will be reporting to 25-year-old Ritesh Agarwal, who founded OYO with a single hotel in 2013.
Ghosh said the Tata Trusts Cancer Care Initiative is one of the largest health care programmes in the world
'You want to be a team that wins the game irrespective of which stadium you are playing in and what the weather conditions may be on that day,' says the outgoing president of IndiGo as he looks back on his eventful tenure.
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
New airline Akasa Air on Thursday took delivery of the first 737 Max aircraft from Boeing in Seattle, USA, a statement said.
New airline Akasa Air on Friday said it will launch commercial flight operations on August 7 by operating its first service on Mumbai-Ahmedabad route using Boeing 737 Max aircraft. In a statement, the carrier said it has opened ticket sales on 28 weekly flights it will be operating on Mumbai-Ahmedabad route from August 7, as well as on 28 weekly flights it will operating on Bengaluru-Kochi route from August 13. The carrier will launch commercial operations with two 737 Max aircraft. Boeing has delivered one Max plane and the second one's delivery is scheduled to take place later this month.
New airline Akasa Air on Monday said it is on track to receive its first Boeing 737 Max plane by mid-June and launch commercial operations by July. The airline on Monday released the photographs of its first Max plane from the Boeing production facility in the USA's Portland as it gets ready for delivery. "The airline recently reaffirmed its commitment of being on track to receive its first aircraft in India by mid-June and launch commercial operations in India by July 2022," its statement mentioned.
The commercial flight operations of Rakesh Jhunjhunwala-backed Akasa Air will be launched in July instead of June. "As we get closer to the airline launch date, we can now confirm refined estimates on our timelines. "We expect our first aircraft delivery by early June 2022, with the intention to start commercial operations in July 2022," Vinay Dube, CEO, Akasa Air, told PTI.
Ace stock market investor Rakesh Jhunjhunwala, often referred to as India's own Warren Buffet, passed away at the age of 62.
Indian aviation regulator DGCA has barred 90 SpiceJet pilots from operating the Boeing 737 Max aircraft after finding them not properly trained. "For the moment, we have barred these pilots from flying the Max and they have to retrain successfully for flying the aircraft," DGCA chief Arun Kumar said in a statement. He also said that the regulator will take "strict action against those found responsible for the lapse."
'For the moment, we have barred these pilots from flying the Max and they have to retrain successfully for flying the aircraft,' DGCA chief Arun Kumar said in a statement.
The country needs 100 million jobs in the formal sector in the next decade to take advantage of its demographic dividend. Also, it should get into the global supply chain to generate many of those by negotiating trade deals effectively, industry players and experts have said. "We need something like 100 million jobs in the next 10 years, which means that the non-agriculture sector has to generate 14 per cent job growth every year," said Aditya Ghosh, co-founder of Akasa Airlines, at the Global Economic Policy Summit organised by the CII.
A revamped Air India under the Tata Group will be a real challenge while new airline Akasa Air will be a far less competitive force for the next two-three years, IndiGo CEO Ronojoy Dutta said on Wednesday. Akasa Air, which is backed by former IndiGo president Aditya Ghosh, ace investor Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dube, got the no-objection certificate (NOC) from the Ministry of Civil Aviation on Monday.
The order, valued at 'nearly $9 billion at list prices', was signed at Dubai Air Show 2021 on Tuesday.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
Among executives who have been approached are former president and CEO of IndiGo Aditya Ghosh, Wolfgang Prock Schauer, current president and Chief Operating Officer at IndiGo and Sanjay Kumar, Chief Strategy and Revenue Officer of IndiGo.
In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
Since the company's senior management was privy to the price-sensitive information of Ghosh's resignation, Sebi wanted to check whether the information was disseminated properly to bourses
Veterans in the travel industry, a well-known corporate lawyer, and a marquee US-based hedge fund have backed the upcoming low-cost airline Akasa Air. Founded by former Jet Airways chief executive officer (CEO) Vinay Dube, the venture counts ace stock trader and investor Rakesh Jhunjhunwala as its biggest financial backer with an investment of around Rs 300 crore. A person with knowledge of the development said most of the people were well known to Jhunjhunwala and Dube, who approached them during the conception stage.
Rakesh Jhunjhunwala-backed new airline Akasa is in talks with US aerospace company Boeing for buying up to 100 737 Max aircraft. Former Jet Airways CEO Vinay Dube and his family members are promoters while ex-IndiGo president Aditya Ghosh is a board member of the airline. The airline is in negotiation with Boeing and has reached out to the government to recertify the aircraft which has been grounded since 2018 after two crashes killing 349 persons, according to sources in the know.
Currently, the company is present in over 259 Indian cities, with over 8,700 buildings (hotels and homes) and more than 173,000 rooms.
The aviation ministry is not in the business of regulating tariffs, says its president Aditya Ghosh.
The airline's entry may trigger charges for every extra service such as baggage and seat selection.
Mittu Chandilya wants to bring a new meaning to flying for Indians.
Major no-frill carrier IndiGo expects to continue its profit-making streak this financial year too, as it plans to increase frequencies on select international routes soon.
Bansals of e-commerce company Flipkart and Aditya Ghosh of low-cost carrier Indigo have made into Fortune's young achievers list for their initiatives in creating job opportunities.
Low-cost airline IndiGo on Tuesday said it has no plans to take on-board an overseas partner to expand its business.
A signature cocktail of on-time performance, clean aircraft and good on-board service has helped India's youngest airline become the largest.
No-frills carrier IndiGo Airlines on Friday said it will increase frequencies on the domestic and international routes this summer as it adds nine aircraft to its fleet by the year end.
The place, a melting pot of people from the world of art and culture for decades, had downed its shutters on March 20 this year after the West Bengal government imposed a lockdown.
Largest low-cost airline posted an 18 per cent growth in net profits.
The airline is currently operating on the Delhi-Dubai, Mumbai-Dubai, Delhi-Singapore and Mumbai-Muscat routes.
Budget carrier IndiGo announced special family fares which offer discount up to 25 per cent for a family of four or more travelling together on a single PNR across its domestic network.
The flights between Dubai and New Delhi will begin in September and those connecting Mumbai a month later.
Aditya Ghosh, with no prior aviation background or MBA degree, managed not only to become the CEO of an airline but even piloted it to the top with almost half of the market.
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