The government is of the view that some of the companies are in danger of facing huge losses
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.
The airline owes lakhs of rupees to passengers and its vendors.
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."
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.
Budget carrier IndiGo has assured its employees that it will not make any deduction in their salaries or leaves due to the suspension of domestic flights till March 31. The government's decision to suspend domestic flight would come into effect from midnight Tuesday, as part of larger efforts to curb spreading of coronavirus infections.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
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.
The airline will fly the A320s between the Tier-II and Tier-III cities.
Air travel will now become a little expensive as the government has decided to increase the lower limit on airfares by five per cent amid rising aviation turbine fuel (ATF) prices, Civil Aviation Minister Hardeep Singh Puri on Friday. The upper limit on airfares will remain as it is for now. Just a month back, the Centre had increased the lower and upper limits on domestic airfares by 10-30 per cent due to rising ATF prices. While announcing resumption of scheduled domestic flights in May last year, the aviation ministry had placed limits on airfares through seven bands classified on the basis of flight duration.
The airline has been defaulting on salaries for some time, making partial payments in some cases or not paying at all, as it continues to lose money mainly in domestic routes where it can't raise fares facing competition from low-cost airlines.
Singapore Airlines has given new brand names to two carriers it controls - SilkAir (short-haul) and Scoot (low-cost, long-haul.
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.
The carrier planned to bring in a plane a month from March to build a fleet of at least 10 jets by the end of the year.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
'Earlier, when they were selling tickets at Rs 1,000, a family of five could travel by flight.' 'When it comes to realistic pricing and the price becomes Rs 5,000, a family of five will have shell out Rs 25,000.' 'How many will be able to afford that?' 'You will see people switching back to train travel which is more realistic.'
Jet Airways' cabin crew and ground staff have challenged the Jalan Kalrock consortium's resolution plan, which was approved by the National Company Law Tribunal (NCLT) in June, flagging concerns about pending salaries and retirement benefits. In their petition filed before the National Company Law Appellate Tribunal (NCLAT), the Jet Airways Cabin Crew Association and Bhartiya Kamgar Sena have submitted that dues of all workmen of the airline were not included as part of the Corporate Insolvency Resolution Process (CIRP) cost. In June, NCLT approved Jalan Kalrock Consortium's resolution plan for Jet Airways, which remains grounded for more than two years now.
IndiGo's share sale will raise the company's retained earnings to Rs 2,680 crore.
There were many who had reposed faith in the Narendra Modi government for expeditious action but are today beginning to feel disillusioned, notes Jitender Bhargava.
The proposal is awaiting final policy sanction from the home ministry.
Signs of financial stress were visible when the airline reported a loss of Rs 10.40 billion.
Vistara has poor load factors currently, it needs to bring down fares a bit to improve flight occupancy.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
IndiGo said operations of the ATR fleet would be handled by an independent team that would be responsible for in-flight services, dispatch and control, and revenue.
The airline is gearing up to come out with an initial public offer.
SpiceJet board is likely to pass a resolution within three days after the court order.
By 2023, Vistara's hangars will house a total of 70 aircraft, up from the current 42.
A senior first officer with Jet Airways shares her plight.
A passenger called Himadri Barman tested positive on Tuesday, and Nagendra Singh tested positive on Wednesday, said the director of Netaji Subhash Chandra Bose International Airport.
DGCA has told the airline that only "air worthy" aircraft, which are completely fit for flying, should be used in operations.
The government also said it will hold consultations with the airlines to explore the possibility of curbing the menace of charging exorbitant airfares during emergency situations.
SpiceJet has cut costs to turnaround the carrier in a year's time.
An unprecedented decision to form a ministerial-level committee was driven by fears of witch-hunt by investigating agencies.
Vistara is trying to be leaner and meaner, while staying focused on the original brand promise; it aims to be profitable by FY21. Arindam Majumder reports.
Despite the gains from Jet's closure, in 2018 and 2019, the airline continued to make losses in many quarters for a variety of reasons, including some mistakes like taking on Jet's aircraft, which were not in great shape and had business class configuration, a gamble that did not work for SpiceJet.
Jazeera Airways started flying to India 18 months ago, servicing Ahmadabad, Delhi, Hyderabad, Kochi and Mumbai.
We have cleared all dues to our employees, says Ajay Singh
The airline has failed to address fliers' fears and has been opaque about the allegations of tax and financial fraud, giving rise to apprehension that Jet Airways may be headed the Kingfisher way.
It was supposed to be a happy journey to London, one that the Imam family had been planning for the past two months. Everything was set - except the visa, which did not arrive in time for one of its members. "Visa was the villain...As a consequence, half of the family of four will be in London today and the other half at home in India and the US, respectively," Sanjar Imam, director of travel firm Panache World, wrote in a Facebook post on Sunday.
