The airline's board decides to issue warrants to promoters on a preferential basis
SpiceJet says tickets in three day sale will be 75 per cent lower than last minute purchase fares.
In a much-needed relief to cash-strapped airlines, this is the second straight monthly reduction in rates and the biggest single cut ever.
Indian Airlines on Tuesday announced a hike of Rs 200 on air fare with immediate effect on all international sectors and domestic routes leading to international destination in view of continuing trend of increase in fuel prices.
While the automobile industry outrightly said no to Chidambaram's plea, the aviation sector largely remained non-committal.
The directive came at a meeting DGCA chief E K Bharat Bhushan held with senior officials of private airlines, following complaints that exorbitant spot-fares being charged by the carriers in the wake of cancellation of Air India flights because of the ongoing pilots' strike.
Air Turbine Fuel cost in India constitutes nearly 40 per cent of the ticket cost against 25 per cent in other countries.
The complaint was lodged by Mumbai-based Express Industry Council of India, which represented major express courier and cargo companies such as DTDC, Aramex India, Blue Dart, DHL Express, GATI and First Flight.
Air India Express and AirAsia India have moved to a unified reservation system, whereby passengers can make bookings for both airlines through an integrated website. The move is part of the ongoing process of merging AirAsia India with Air India Express. The combined entity will focus on leisure-oriented and price-sensitive markets.
Ajit Singh says the govt does not intend to regulate fares but in the larger public interest, transparency is required.
India 's airline sector is expected to report losses of $1bn for the year ended last month - double that of a year earlier, according to the head of one of the country's biggest airlines. Naresh Goyal, founder and chairman of Jet Airways, said he expected high costs and fierce price wars to prompt more consolidation in the industry and Jet was ready to seize the opportunity to acquire rivals in India and overseas.
InterGlobe Aviation, the operator of India's leading airline IndiGo, delivered a better than expected performance across most parameters in Q2FY24. The company posted its fourth consecutive quarter of net profit of Rs 188 crore. It had reported a loss of Rs 1,583 crore in the same quarter a year ago.
'This trend will continue as long as the bull run continues.'
The cost of non-subsidised LPG -- the one that consumers buy after exhausting their quota of 12 bottles of 14.2-kg at below market price -- has been cut by Rs 100.5 to Rs 637.
The inactivity of Go First may help other airlines in India's competitive market as it had a 7.8 per cent market share.
IndiGo's size should be compared with global carriers, and not other domestic airlines, chief executive officer Pieter Elbers said on Tuesday, adding that such benchmarking will help India transform its airports into aviation hubs. Elbers flagged the tendency to scrutinise domestic competition, assess fares on domestic routes, and determine if they are high. "But if we want to build some hubs, we should have a broader look," he said during a panel discussion at a convention organised by All India Management Association (AIMA).
An airline's birth is a result of passion and enterprise, often not without its challenges and ordeals. And, Tata-run airlines are no exception
Rainbow-themed badge adorns US training facility
That's a surprise since his protege Praful Patel has shouted down requests this week
Airline losses have more to do with their business models than the price of aviation fuel.
Airlines will report losses in FY16 but 35% less Y-o-Y
The carrier's total income rose over 28 per cent to Rs 8,229.4 crore in the three months ended December 2018.
Airlines have hiked their fares substantially for Down Under.
Public sector banks were allotted 11,63,30,639 shares in the company on conversion on March 31, 2011.
The largest domestic carrier IndiGo is set to renew the insurance cover for its fleet this month, Air India and budget airline GoAir's insurance renewal is due for October, while that of Jet Airways is due in next January.
'The quality of a leader should be such that even if the leader is not there, the institution carries on.'
The Indian aviation sector is on the cusp of a change as airlines look to induct a record number of aircraft. This, analysts said, will put the sector on a growth runway, though keeping it viable for only long-term investors. According to Vinit Bolinjkar, head of research at Ventura Securities, expectations of strong air traffic, coupled with low penetration, is the prime reason for a solid long-term outlook.
Quoting global financial indexes, IATA said global airlines, including those from Asia, showed an upward trend since late September with European airlines' shares experiencing the strongest rise, up 55 per cent.
Though prices of airline tickets have risen over the previous two quarters, this hasn't dampened customers' spirits.
'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.'
While higher fuel costs and irrational pricing are key concerns, infusion of funds to retire debt is crucial if Kingfisher Airlines has to improve its financials.
While higher fuel costs and irrational pricing are key concerns, infusion of funds to retire debt is crucial if Kingfisher Airlines has to improve its financials.
This is the first time domestic players have announced steep cuts.
To fill seats, airlines have resorted to fare wars following the adverse impact on ticket sales, reports Arindam Majumder.
At Rs 919 crore, InterGlobe Aviation, the parent firm of low-cost airline IndiGo, posted its best-ever fourth quarterly net profit in the January-to-March quarter (Q4) of financial year 2022-23 (FY23). The bottom-line, however, was lower than the Street's expectations where estimates ranged from Rs 1,160 crore to Rs 2,180 crore. On the bourses, shares of IndiGo have added just 30 paise (0.01 per cent) since the announcement of the Q4-FY23 results on May 18.
The market valuation of InterGlobe Aviation, the parent of IndiGo, reached Rs 1 lakh crore mark on Wednesday and became the first airline to achieve this milestone. On Wednesday, the stock rallied 3.55 per cent to settle at Rs 2,619.85 apiece on the BSE. In intra-day trade, shares of the company jumped 4.12 per cent to hit its 52-week high of Rs 2,634.25.
Life of air passengers was different in the 1970s.
Airlines say they have accepted the directive, though many feel this would give away competitive information on the number of seats at each price point, which could have an adverse impact on business.
Anticipating a weak demand in the traditionally lean January-March period, most domestic airlines on Tuesday reduced fares massively after no-frills carrier SpiceJet announced a steep 50 per cent discount on base fares and fuel surcharges across sectors.
