Earlier this year, Mallya's UB Group had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore (Rs 5.5 billion). The Group has now scaled up its stake in the budget airline to 46 per cent by buying shares in an open offer.
Its revenue during the period grew by 65 per cent to touch Rs 9,458 crore (Rs 94.58 billion), as against Rs 5,718 crore (Rs 57.18 billion) during FY12.
A look at the Kalanithi Maran-controlled airline's place in the domestic aviation sector
It and Vistara both book slots here; former also likely to launch Mumbai flights from early 2015.
Jet Airways expects to return to profit in the next 18 months, following implementation of a new route network and fleet strategy and cost optimisation measures.
JetLite was created in 2007, following the takeover of Air Sahara in April 2007.
Major domestic airlines on Wednesday said they were considering imposing a fuel surcharge and hiking air fares following the announcement of a Rs 1,600/kl rise in jet fuel prices from midnight on Wednesday.
The airline has said it isn't worried about competition in the domestic market, thanks to its spread across three passenger segments
Lower taxes on ATF on international routes certainly help in making operations more viable.
IndiGo will add Nagpur to its flight map from October 20 with daily flight to Mumbai and Kolkata.
For debt-laden Jet Airways, bitter foe Tata may turn into timely saviour.
Amid reports of a possible stake sale, low-cost airline SpiceJet on Friday said it is exploring all options to mop up funds to overcome the cash crunch.
One thing is certain: The part-Goan, part-Malayali group CEO of Air Asia is not your usual boardroom CEO, and he cultivates the maverick businessman image, buying race car teams and football clubs and taking off-beat bets with his mentor and now buddy Richard Branson of Virgin.
A large number of passengers, almost 2,000 of them, were stranded due to cancellation of flights owing to bad weather, on Thursday protested at the Leh airport.
The company has charted out a three step process in achieving the target
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.
Total revenue dropped to Rs 5,406 crore in the first quarter of the current financial year from Rs 5,508 crore in the same period a year ago
A regulator has to ensure that fares have transparency.
Central Industrial Security Force chief OP Singh briefed Union Home Minister Rajnath Singh on the heightened arrangements at airports, ports and other vital installations guarded by the central force.
Low-cost carrier SpiceJet Ltd on Friday said it expects to resolve settlement disputes with its lessors shortly.
Though a formal purchase agreement with Boeing is yet to be signed, SpiceJet's order size could be of 40-50 planes, a source familiar with the development said. At list price, a 737 Max aircraft is valued at about $100 million (Rs 620 crore).
The government is ready to support Air India, but wants the airline to improve its performance.
Serbia has become one of the transit points for Indians heading to Canada and the US. Canada requires passengers from India to take an RT-PCR test from a third country, while the US wants them to spend 14 days outside of India. As a result, many students are taking the Serbia route to Canada, and the US.
Seaplanes are fixed-wing aircraft that can take off and land on both water and airfields.
Airline now financially more stable but still in the doldrums as the operating environment remains tough.
'It goes without saying that Air India has now no imaginable reason to exist.'
Pilots represented by union Vereinigung Cockpit were holding a strike at Munich airport, Lufthansa's second biggest airport after Frankfurt, from 0800-1600 GMT on Wednesday.
SpiceJet's original promoter is closer to taking the management reins.
These companies have survived bankruptcies.
Old-timers say Jet boss Naresh Goyal, although still razor sharp, doesn't have the same energy he once did and this reflects in his 'baby'.
In December 2010, the price of the fuel in Delhi was Rs 45,240 a kilolitre.
It will focus on the under-utilised airports instead of offering services in main hubs such as Mumbai and Delhi.
'Airlines are free to fix the ticket rates after taking into consideration various factors.'
Mittu Chandilya has criticised the proposed credit-based policy for international flight.
The $100 billion Tata group conglomerate is a major beneficiary of the decision to open up aviation in India.
The response to the sale has been overwhelming.
Low cost airline Air Deccan has filed an application with SEBI for entering the capital market.
Air Arabia said it has been granted rights to fly daily to Mumbai from the middle of next month.
SpiceJet has cut the size of its fleet to 22-24 Boeing planes from 35 and will keep it this way for few months.
