The minister said airlines must reciprocate the government's gesture to help the aviation industry, which has been been going through rough weather this year. State-run oil companies on Monday slashed jet fuel prices by over 11 per cent. ATF in Delhi was cut by Rs 4,208.37 to Rs 32,691.28 per kilolitre.
An Indian man travelling from New York to Delhi in an American Airlines flight has been apprehended at the Delhi airport for allegedly urinating on his co-passenger, official sources said Monday.
Around 200 pilots of Go First, the cash-strapped airline that suspended operations on May 2, have joined Air India. As many as 75 of them started training with the Tata-owned airline on Monday. As Go First tries to salvage its operations, it has announced additional pay or retention allowance of Rs 100,000 and Rs 50,000 for captains and first officers, respectively, with effect from June 1.
Frankfinn Aviation Services Pvt Ltd on Thursday said it will start a low-cost airline by 2009
Go First chief executive officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline's staff, seeking their support for revival. While Khona said the company had taken all steps for the airline's revival, Lal put forward the view it would have to raise funds. Employee engagement took place a day after the National Company Law Tribunal (NCLT) admitted the airline's insolvency plea on Wednesday and ordered a moratorium on recoveries.
Full-service airlines on Thursday demanded that the government should regulate prices and suggested that higher entry barriers for new players could be a way out of the present financial cauldron.
Divestment-bound Air India's pilot unions have rejected the paltry five per cent rollback in their salary cuts and warned of "industrial action" if there is no "substantial" reversal in their paycuts. In a joint letter to Air India chairman and managing director Rajiv Bansal on Thursday, the Indian Pilots' Guild (IPG) and the Indian Commercial Pilots Association (ICPA) said, "(The) pittance in the form of a five per cent decrease in the current wage cut is an outright insult, its sting magnified in light of our unwavering support and trust in this company." They said this "generosity" amounts to a reduction of about 3 per cent in the current gross pay cut for pilots. In April, Air India had reduced its pilots' salary by up to 70 per cent to partially offset the impact of the coronavirus pandemic on its finances.
A proposal to permit foreign airlines to pick up stake in domestic carriers is among the several measures being considered by the government to help the Indian aviation industry overcome the financial crunch.
Vistara appoints Vinod Kannan as chief strategy officer; plans to launch its maiden international flight to Colombo in May
The airline has reported 5th straight quarter of net losses for the July-September period, at Rs 310 crore
Only a 5-year-old airline with 20 planes is allowed to fly abroad.
rediffGURU Krishna Kumar offers expert advice on how you can polish your skills and perform better at work.
India witnessed the highest increase in airfares among the 10 top aviation markets in the Asia-Pacific and West Asia collectively across both domestic and international flights Q4 2019 and Q4 2022 in nominal terms, according to research by Hong Kong-based Airports Council International (ACI). India, where fares went up by 41 per cent, was followed by the UAE (34 per cent), Singapore (30 (per cent) and Australia (23 per cent). The study, which was undertaken in collaboration with Flare Aviation Consulting, examined around 36,000 routes in the top 10 aviation markets in Asia-Pacific and West Asia.
The Industry Ministry is in favour of allowing foreign airlines to invest in domestic carriers, saying it would help the cash-crunch industry to raise equity, an issue that does not find support among many Indian airlines.
The biggest let down for India's aviation sector has been the failure of the government to privatise Air India, says Anjuli Bhargava.
Scheduled international passenger flights have remained suspended since March 23, 2020 in the wake of the pandemic and they will now restart from Sunday.
As per the present policy, foreign carriers are not allowed to pick stake in Indian airlines. However, the government allows FDI up to 100 per cent in other areas of the aviation sector, like developing of greenfield airports or in cargo and maintenance, repair and overhaul facilities.
The government is likely to take a final decision on allowing foreign airlines to pick up stakes in Indian carriers in a 'couple of weeks', with the Union civil aviation ministry proposing a 24 per cent cap as against 26 per cent recommended by the industry ministry.
The government is keeping its options open.
State governments in Punjab, Gujarat, Maharashtra and Jammu & Kashmir are on high alert and have come up with contingency plans to ensure the security of residents in case of a war.
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
Going 'long' is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. "With the Nifty50 surging to new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out.
The sooner the airlines get their act together, the better.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
Air India on Monday announced a new compensation structure for its pilots and cabin crew, with a guaranteed flying allowance of 40 hours per month for both categories of staff. While the flying allowance has been doubled for pilots, it has been introduced for flight attendants as part of the new compensation structure. Pilots will earn an additional amount as a reward based on the number of years of service with the airline and get an allowance while undergoing training for command or conversion to another aircraft type.
The rupee has touched a five-year high, crossing the Rs 47 mark. The average value of the currency against the dollar during September was almost 14 per cent lower than in April. More than a third of an airline's costs are dollar denominated. Major heads of expenditure include aircraft ownership, maintenance and spares costs. Also included are international training and a certain chunk of sales and distribution costs.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
Indian airline Go First is considering legal action against Pratt and Whitney (PW) for failing to provide compensation after March 2020 for planes grounded due to engine supply delays, sources said on Thursday. About 90 per cent of the airline's fleet of aircraft uses PW engines. About 24 of the airline's 55 planes are grounded due to delays in engine supply by PW.
The government was also working on a package to promote connectivity and airports in the North Eastern states
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
Foreign airlines can now pick up 49 per cent stake in India's domestic carriers, a step that is expected to give a boost to cash-strapped aviation industry.
India 's airline sector is expected to report losses of $1bn for the year ended last month - double that of a year earlier, according to the head of one of the country's biggest airlines. Naresh Goyal, founder and chairman of Jet Airways, said he expected high costs and fierce price wars to prompt more consolidation in the industry and Jet was ready to seize the opportunity to acquire rivals in India and overseas.
Govt may grant infrastructure status to the aviation industry to enable it to access finances at cheaper rates
Travel agents in India on Monday demanded of 16 airlines that they reinstate commission following a Directorate General of Civil Aviation (DGCA) order to restore the system of paying travel agents a commission, a senior industry official said.
This was a joke narrated by Civil Aviation Minister Ajit Singh when he reiterated his 'personal' view on privatising Air India.
The apex association of courier companies in India on Tuesday strongly contested the claims by the three major domestic airlines on baggage charges for on-board couriers.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Reeling under the pressure of two catastrophic aviation tragedies, Malaysia Airlines is mulling a name change and restructuring of routes in a bid to repair its reputation, a media report has said.
