In Mumbai, jet fuel costs Rs 71,940.36 per kl as against Rs 73,306.89 per kl previously, IOC said.
The sector requires proper implementation of policies, coupled with reasonable taxes and improved basic infrastructure.
Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
The DGCA order came in the wake of members of the Parliament raising the issue in Parliament on Thursday and asking the government to act.
In a bid to slash costs, Air India has hedged 10,000 barrels of jet fuel for its aircraft this month, four weeks after its Board gave a nod to the move.
'The levy proposed to be charged on air tickets for regional connectivity fund would marginally increase cost.'
Scindia claimed Tharoor is "lost in his esoteric world of thesaurus", and for him "data mining of selective press articles from the internet qualifies as "research".
Major travel agents have threatened to stop selling domestic and international air tickets until airlines agreed to restore commissions that they had said they would scrap starting October 1, citing higher costs and slower growth.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Rising crude oil prices and muted passenger traffic in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24) have raised concerns about the profitability of listed aviation players. These two concerns have caused the stock of InterGlobe Aviation (IndiGo), the largest player in the sector, to slip by 11 per cent since its highs at the end of July. Nuvama Research expects yields to cool down in the near term due to seasonality, rising crude oil prices, and higher capacity.
Each aircraft will cost about $50 million and the purchase is being funded by the US-based Exim Bank. The airline operates 143 flights a week from Indian cities to 12 destinations in the Far East and West Asian countries. In its fourth year of operation, the international budget carrier now has 11 fully owned aircraft, while seven are on lease, which will expire in 2010.
The overall responsibility of the low-cost carrier, Air India Express, would be that of Joint Managing Director Vishwapati Trivedi, with P P Singh being appointed its Chief Operating Officer. Both of them would be based in Delhi, sources said.
Low cost start-up carrier IndiGo is set to take off in August and the carrier aims to break even within 18 months of its flights being operational.
But its sales pitch will remain muted till India opens up more seats on the route
Low-cost carrier Deccan and Vijay Mallya-led Kingfisher Airlines on Wednesday decided to merge and create a single corporate entity to cut down operational costs and accelerate their journey to profitability.
On the issue of unionism, he said that problems at hand were not being duly dealt with.
AI Express operates 195 weekly flights, mostly from Kerala.
The lower quarterly profit was mainly due to rise in fuel costs, foreign exchange loss and lower yield
With the FIPB giving approval to the Tata-Singapore Airlines joint venture to start a full-service carrier, Tata Group Chairman Emeritus Ratan Tata on Friday met Commerce and Industry Minister Anand Sharma.
Mallya's airline is the second domestic carrier to have received DGFT approval for ATF import after budget carrier SpiceJet.
The apex court asked the government to get back by March 9 about the policy.
The airline is also looking at cities in the northeast.
Hundreds of pilots are staring at a long wait to get the job of their dreams after completing the course, the cost of which runs to Rs 1 crore.
At the height of its troubles and desperate to mop up cash to fly the next day, SpiceJet was offering ridiculously high deposit incentives to travel agents and online portals -- incentives it could ill afford.
Air India will be saving $150 million over 15 years by mounting advanced General Electric engines GE90-115B on its 27 Boeing 777-300ERs aircraft.
State-run Air-India will lease 14 Boeing aircraft to launch a no-frills airline that will slash passengers' fares by 25 per cent, an airline official said.\n\n\n\n
Long-haul low-cost carriers like Scoot and AirAsia X offer a similar configuration.
To reduce those not even meeting variable costs to 19% of network by March, from 38% five months ago.
The sooner the airlines get their act together, the better.
Phee Teik Yeoh, the recently anointed chief executive officer of the airline, speaks to Business Standard on his aim of changing the rule of the game in the aviation sector by redefining service and operational experience for travellers accustomed to mere functionality.
Management and leadership changes, in addition to synchronising operations between all its airlines, are showing visible results for Air India. Data from the Directorate General of Civil Aviation (DGCA) show that there has been a marked improvement in key operational parameters of Air India after the Tata group took complete control of the national airline in January. One of the most dramatic improvements has been noticed in Air India's passenger load factor (PLF) - a crucial metric of capacity utilisation of an airline's fleet that shows how many seats it has been able to fill on every flight.
All major airlines in the country are likely to hike the fuel surcharge by Rs 100 with effect from September 5, raising the total surcharge to Rs 750.
Jet fuel (ATF) prices have been hiked by a steep 6.9 per cent, taking the rates to lifetime high of Rs 75,031 per kilolitre.
High taxes on the jet fuel, which goes up as high as 40 per cent in some states, coupled with higher airport charges in the form of user development and airport development fee, which have cascading effect on the air fares, have had a negative impact on the domestic passenger demand in India.
The outer structure of Navi Mumbai International Airport's first terminal building is almost ready. Exactly behind the under-construction building, stands a partially demolished hill. Executives from the airport company are now hopeful the hill will be flattened by mid-January, paving the way for the first commercial take-off by December next year.
Some have welcomed this shift in the government's stance.
Air India will restore salaries that were cut in the wake of the coronavirus pandemic from September 1, according to a communication. The loss-making airline, which was taken over by Tatas in January this year, has also decided to revise crew layover allowances and meal arrangements from September 1. In the communication to the employees, Air India CEO and managing director Campbell Wilson said the airline "will be restoring the salary reduction for all employees with effect from September 1, 2022."
The international operations of Air India seem to be the main attraction for IndiGo, which has also flagged concerns about some foreign overseas airlines being allowed "disproportionate access" to the Indian market.
