"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
With respect to the cancelled flights, customers can opt for a full refund or alternative travel dates free of cost.
Faking software knowledge, ability to work on a package or even experience in a firm are par the course for many. Pradeep Soundararajan explains why it spells trouble.
Naresh Goyal only gave an undertaking not to sell any of his 51% stake in return for raising working capital debt from PNB.
About half of the students, who have been affected by the war, have taken admission to universities in other countries.
As part of cost reduction efforts, the full service carrier has asked its employees, including pilots, to take steep pay cuts
Air India is aiming to improve its financials by pruning loss-making flights, improving fleet use, increasing web sales and selling & leasing back 14 Boeing 787s by March-end, top airline executives said on Monday.
The Wadia group-owned airline is building a new management team and putting in place strategies for efficient operations. Leading the change is Cornelis Vrieswijk, the airline's new chief executive officer.
While we navigate the challenges posed by the current industry environment, our focus and attention remains on safety and operational reliability, said chief executive Vinay Dube.
Kingfisher Airlines, National Aviation Company of India Limited -- the state-owned company that runs Air India -- and Indigo could face additional cost pressures, with reinsurance rates expected to harden following the accident involving the Air France aircraft that was flying from Rio de Janeiro to Paris with 228 passengers on board.
IndiGo has confirmed the delivery of the next set of 25 ATR-72 jets and will be inducting around 10 planes by the end of this calendar year, making it the largest regional fleet operator in the country.
Chief executive Giorgio de Roni explains to Business Standard the merit of GoAir's cautious approach.
Sources aware of the development said as part of the project, the airline had signed an agreement with Reliance Industries Ltd, which would extend quality control services at its coastal terminals for ATF imported by the airline.
The airline will be inducting large number of A321s this year which will be largely used on international routes and high density domestic routes.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
Provisioning for bad investments, finance costs shoot up in FY14.
Value-carrier JetLite, formerly full-service airline Air Sahara, which was bought by Naresh Goyal last year, will offer a voluntary separation scheme to 750 employees who have been with the airline for one year or below, Chief Operating Office Rajiv Gupta confirmed on Friday.
A bench headed by Chief Justice N V Ramana took note of the submissions of senior advocate Harish Salve that SpiceJet would try to resolve the issue with the Swiss firm. "Senior counsel Harish Salve sought three weeks' time for trying to resolve the matter and Mr K V Vishwanathan (appearing for the Swiss firm) also agreed to the adjournment. "Meanwhile, the high court order is stayed for three weeks," the bench, also comprising justices A S Bopanna and Hima Kohli, ordered.
On a full year basis, the airline made a loss of Rs 934.8 crore. The company has incurred a net loss during the current and previous year and, the its current liabilities exceeded its current assets
Air India announced up to 50 per cent reduction in monthly allowances of its employees, who have a gross monthly salary of more than Rs 25,000.
India will require 1,740 planes over the next 20 years.
At least 20 to 30 departures are being cancelled daily from metros and key airports including Ahmedabad, Bengaluru and Hyderabad.
Lessor market sources said with the fuel prices remaining high, IndiGo would get better rates for the fuel-efficient A320neos.
IndiGo's ascent is not without its risks, however.
The national carrier's market share has declined from a near-monopoly to 16.6 per cent as of September 2014.
Airline's auditor attributes profit to changes in accounting system; GoAir says full disclosure made and auditor's note is unqualified
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
The winning bid attracted over 99 per cent votes, with lenders overwhelmingly voting for a revival instead of recovery through liquidation.
The government has initiated the process for inviting financial bids for the sale of national carrier Air India and the deal is likely to conclude by September, sources said. Salt-to-software conglomerate Tata Group was among the "multiple" entities that had put in preliminary bids for buying loss-making Air India in December last year. The sources said that after analysing the preliminary bids, eligible bidders were given access to the Virtual Data Room (VDR) of Air India, following which investors' queries were answered.
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
The 16-hour flight will be the first direct one from India to the US west coast.
The warning had come after SpiceJet's dues to AAI (including interest at 12 per cent) exceeded Rs 300 crore (Rs 3 billion) this month -- from Rs 230 crore (Rs 2.3 billion) early December last year.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
They say better late than never. For the Tatas, the original owners of Air India, bringing back the airline to its fold is worth the wait even if the attempt to privatise the bleeding national carrier by successive governments has taken over two decades. While many airlines have come and gone from the Indian skies since the time when the first move was made to privatise Air India to date, the salt-to-software conglomerate has never let the love affair with aviation, more so with Air India that its former chairman Jehangir Ratanji Dadabhoy Tata (JRD) had, to go off the radar. It is said that Tata group executives used to complain in private that JRD -- the pioneer of the Indian aviation industry -- spent more time worrying about Air India than the Tata group when he was heading both the entities.
The government is of the view that some of the companies are in danger of facing huge losses
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for $37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing. Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India. In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, "The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered into a share purchase agreement."
The airline owes lakhs of rupees to passengers and its vendors.
Indian Railway Catering and Tourism Corporation (IRCTC), the Indian Railways' wholly-owned listed subsidiary, is eyeing partnerships to offset recurring costs incurred in train operations, which is part of its two-year-old diversification from core catering and ticketing businesses. To this end, it is courting public sector undertakings such as Bharat Heavy Electricals (BHEL) and others to create a special purpose vehicle for the routes for which IRCTC has bid. The Railway ministry opened bids for public private partnerships in passenger train operations in July 2021 and received bids to operate 29 pairs of trains with around 40 modern rakes that would entail an investment of Rs 7,200 crore.
Low-cost carriers (LCCs) like Air Asia and Ryan Air are among the best because they are frugal, have flexibility in operations and certain standardisation of aircraft and operations.
