The Delhi-based airline currently has 13 Airbus A320 aircraft in the fleet and it plans to take another seven (A320 Neo) planes by June 2018.
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
Stock market investments are always said to involve risks and people who made big fortunes often made headlines as scamsters, leading to Dalal Street always being looked at with suspicion, but Rakesh Jhunjhunwala was broadly an exception. Jhunjhunwala, a partner at RARE Enterprises, who rose to amass a $5.8 billion fortune and earn the tag of the country's biggest individual investor, leaves behind a relatively cleaner slate, as was seen in the most common description for him -- 'India's own Warren Buffett'. Unlike names like Harshad Mehta and Ketan Parekh, whose rise in fortunes in post-liberalised India was tainted with scam links, the newest 'Big Bull' in the more-regulated market had lesser baggage on this front.
A senior DGCA official said 23,403 departures per week have been finalised, covering 103 airports, which is 1.2 per cent higher than the 23,117 operated during the previous winter schedule.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
'The world over, everybody is asking for the same medicines, same APIs, same KSMs.' 'However, there is just one supplier -- China -- for the entire world.'
The airline has proposed to raise authorised share capital to Rs 2,200 crore. This would comprise Rs 680 crore of equity capital and Rs 1,520 crore of preference share capital.
To make space for the extra row, Vistara has opted for the smartLav concept offered by Airbus
IndiGo will seek board approval for Dutta's appointment soon. Till then, promoter Rahul Bhatia will continue to act as interim CEO.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
The Competition Commission of India (CCI) on Tuesday said that the proposed additional stake buy in United Breweries (UB) by Dutch major Heineken does not raise any competition concerns, effectively clearing the deal. In its order, the CCI said, "It is submitted that the proposed transaction does not give rise to competition concerns regardless of delineation of the relevant market for the purpose of this filing." UB is the country's largest beer company, while Heineken is the world's second-largest brewer after Anheuser-Busch (AB) InBev.
United States aerospace major Boeing on Thursday said it received approval from the country's government to offer its F-15EX multi-role combat jet to the Indian Air Force.
Vistara launched first flight from Hyderabad to New Delhi on Sunday.
While the automobile industry outrightly said no to Chidambaram's plea, the aviation sector largely remained non-committal.
Tony Tyler, director general and chief executive officer of the International Air Transport Association, a global industry trade body, says the European Union-Emission Trading Scheme is a regional programme, which cannot be imposed on the rest of ther world.
Jet Airways -- which has been flying for 25 years - on Friday described reports that the airline cannot fly beyond 60 days as "incorrect and malicious" as well as denied any talks of stake sale.
These airports are those at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur and Trichy.
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.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
Domestic air traffic clocked slowest growth in 4 years on high fares and flight cancellations.
'Indian aviation is having a lesser number of aircraft.' 'Besides the Boeing 737 MAX, you have the A320Neos which Indigo is currently grappling with because of a lack of pilots.' 'This has led to cancellation (of flights) and therefore the prices of air tickets are on the higher side this season although generally in March ticket prices are on the lower side.'
Sri Lankans were on the edge on Tuesday as they waited whether embattled Gotabaya Rajapaksa will honour his offer to resign as president, amid signs that key members of the erstwhile powerful ruling family were attempting to flee in the face of massive public anger against them for mishandling the economy that has bankrupt the country.
At risk of entrenched rough times are sectors like hospitality and those with discretionary spends.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
The operations at the country's second busiest airport had witnessed heavy disruptions on Wednesday as rains crippled the city.
Despite adding no new aircraft, Jet Airways saw more departures during the year, it flew more people, and achieved a higher load
These companies have survived bankruptcies.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
Ajit Singh represented a bridge between a constituency that represented a more traditional era in politics and a modern, forward-looking, India, remembers Aditi Phadnis.
The secret behind Singh's success was that he mostly set about undoing all the mistakes made by the Marans, points out Anjuli Bhargava.
Several videos emerged on social media in which teary-eyed students urged the Indian authorities to make arrangements for their return.
Majority of India's international routes have been captured by foreign airlines.
"By the time this fiscal year ends and then next one starts and unless someone does a harakiri in lowering their fare, we see a good scenario beginning April onwards," Boeing India president Dinesh Keskar told PTI in an interview.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
India's Rs 4.5-trillion fast-moving consumer goods (FMCG) sector was one of the first to bounce back from the lockdown induced blues, reporting a year-on-year (YoY) growth in the October-December quarter last year. That said, the overall consumption figures continue to remain depressed. The FMCG market, which includes daily consumables like branded atta, hand sanitizers, edible oils, shampoos, razors, and so on, recorded 7.3 per cent value growth during the period, while the smartphone market grew by 21 per cent.
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
Signs of financial stress were visible when the airline reported a loss of Rs 10.40 billion.
An overriding ambition to rule the domestic skies prevented Jet Airways from becoming a strong and formidable player in the international market. The Sahara buy added to the complexity of its operations and a dilution of what the airline stood for, says Anjuli Bhargava.
The airlines were penalised for 'concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.'
However, any progress on the deal depends upon Goyal giving up control of the company.
