'I now see rates rising again, particularly after recent losses - especially the January wildfires in Los Angeles.'
Demand for the Christmas period is expected to rise further in the coming days.
Following a significant power outage, operations at the London Heathrow (LHR) have been suspended till 2359 hours (local time) on March 21 (05.30 am March 22, IST).
Police said they had received a complaint from one Ravindra Singh, a pilot with SAR Aviation Service Private Limited, who alleged that his firm's helicopter was stolen. Singh claimed that the chopper was taken away in parts in a truck by some people in May. He claimed that he was assaulted when he confronted those people.
Tata Motors reported a consolidated net profit of Rs 17,483 crore (adjusted for exceptional gains and losses) for Q4FY24, surpassing TCS' consolidated net earnings of Rs 12,434 crore. For the automotive major, this marked a 213.7 per cent year-on-year increase in the bottom line, from Rs 5,573.8 crore a year ago. In contrast, India's biggest IT firm saw a more modest Y-o-Y growth of 9.1 per cent in net profit, from Rs 11,392 crore.
Any reduction in the customs duty on smartphone parts in the forthcoming budget will harm India's developing component ecosystem, discourage investment, increase imports, and make local firms uncompetitive, potentially resulting in job losses, think tank GTRI said on Tuesday. India's smartphone industry is a 'Make in India' success story, with 2023-24 production reaching $49.2 billion and exports at $15.6 billion, making smartphones the fourth-largest export after diesel, aviation fuel, and polished diamonds.
China has announced a 7.2 percent increase in its national defence budget, bringing the total to USD 249 billion for the year. This rise comes amidst China's ongoing efforts to modernize its armed forces, including the development of new warships and fighter jets. The budget increase, exceeding last year's 7.2 percent rise, reflects China's commitment to bolstering its military capabilities. Chinese Premier Li Qiang emphasized the importance of the Communist Party's leadership in guiding the military, with President Xi Jinping at the helm of the Central Military Commission. China's defence spending is now three times that of India's and is viewed by critics as a sign of the country's growing military ambitions.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
After the mid-air collision over the Potomac river in Washington, DC, authorities said that they no longer expect to find any survivors, and efforts have shifted to a recovery mission, according to DC Fire and EMS Chief John Donnelly, according to a report by CNN.
Both new and completed project values as of December 2024 remain below pre-pandemic levels seen in 2019.
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
Pakistan plans to procure 40 jets of advanced Chinese stealth fighter J-35, which, if materialised, will mark the first export of China's latest jet. The sale would mark Beijing's first export of fifth-generation jets to a foreign ally and is expected to recalibrate regional dynamics, particularly in relation to Pakistan's rival India. The acquisition of new aircraft was pursued despite the serious economic crisis faced by Pakistan. China has helped Pakistan to jointly develop and operate the J-17 Thunder fighter jet, the mainstay of the PAF. China has delivered four advanced naval frigates to the Pakistan Navy in the last few years to enable it to play a bigger role along with its navy in the Indian Ocean and Arabian Sea.
Private carrier Air India on Monday announced placing an order to purchase 100 more Airbus aircraft, comprising 10 wide-body A350 and 90 narrow-body A320 family aircraft including A321neo.
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
In the months to come, the skies above promise to be a captivating theatre of action, where helicopters play starring roles, ferrying leaders, and echoing the pulse of democracy.
The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned Oil and Natural Gas Corporation (ONGC) and exports of fuels done by companies like Reliance Industries Ltd.
Indigo has zero competition on 61.2 per cent of its 838 domestic routes.
Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons. Asthana is a former top official of the Central Bureau of Investigation (CBI). In a notice to the stock exchanges, Religare said that while the company and Asthana were weighing the options of dealing with the letter of refusal by the RBI, it was also busy in preparing for the "herculean task" of making ready multiple applications to regulators.
In little over a year, Air India and IndiGo have announced plans to purchase up to 170 wide-body planes as they bet on ambitious expansion and efforts also continue to make India a global aviation hub. Also, the two carriers' orders usher in European aircraft maker Airbus into the country's wide-body space, which has traditionally been dominated by US major Boeing. If narrow-body aircraft orders of Air India, IndiGo and Akasa Air are added to the list, the order book is well over 1,200 planes and that too in less than 14 months or since February 2023.
Reigning champions City are also involved in a separate independent hearing into the club's alleged breaches of Premier League financial regulations which began in September, with a verdict expected some time before the end of the current season.
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.
No-frills airline IndiGo on Monday announced placing a firm order for 500 A320 family planes with European aviation major Airbus at the Paris Air Show. This is the largest ever aircraft order placed by any airline with Airbus, IndiGo said in a statement. Financial details of the order were not disclosed.
Airfares on major domestic routes such as Kolkata-Bagdogra, Delhi-Bengaluru, and Delhi-Mumbai have witnessed an increase of up to 12.7 per cent year-on-year (Y-o-Y) in May this year, according to data by Thomas Cook (India) and SOTC Travel. The recent increase in aviation turbine fuel prices, rupee depreciation, reduction of flights by key players, and grounding of planes due to engine supply issues have contributed to the rise in airfares, said aviation industry experts. However, the data also shows that summer airfares on key routes such as Delhi-Leh and Delhi-Kolkata have significantly decreased due to the introduction of new flights.
Airline systems across airports, which were impacted due to a global IT outage on Friday, have started working normally, and all issues are likely to be resolved by noon on Saturday, Civil Aviation Minister K Rammohan Naidu said. The ministry is constantly monitoring the operations at airports and airlines to ensure travel readjustments and refunds are taken care of, he added.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
Jaipur airport SHO Ral Lal said the ASI called for a female colleague for the security check, but the argument escalated and the SpiceJet employee slapped him.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
According to CAPA, partial abolition of the 5/20 rule was a serious compromise.
Being touted as a competitor to the country's busiest Delhi airport -- which handles approximately 1,200 flights a day -- the Noida airport was expected to start flight operations by the end of this year. But supply-chain disruption, caused by pandemic and subsequent global upheaval, has hit the pace of construction at the airport which is coming up in the Jewar area of UP's Gautam Budh Nagar, some 75-km from the Delhi airport.
'As the markets are expected to remain jittery in the near term, we advise investors to use this opportunity to enter quality largecaps from a long-term perspective.'
Among executives who have been approached are former president and CEO of IndiGo Aditya Ghosh, Wolfgang Prock Schauer, current president and Chief Operating Officer at IndiGo and Sanjay Kumar, Chief Strategy and Revenue Officer of IndiGo.
Air India (AI)'s rise could be at the expense of three "super-connector" hubs - Doha in Qatar, and Dubai and Abu Dhabi in the UAE - as the Indian passenger would any day prefer direct flights of their national airline that is providing excellent on-time service, Arved von zur Muehlen, chief commercial officer of Saudia Airlines, said on Thursday.
A new report by aviation intelligence firm OAG and UBM Aviation, reveals a striking contrast of opportunities and challenges in two of the world's fastest-growing travel markets.
Airfares have nearly doubled in a matter of days on routes hit by the cancellation of 200 weekly flights linking Mumbai airport to 12 cities. The fares have soared as high as 193 per cent following a recent government order to cancel flights to ease "persistent congestion" that was causing delays. Aside from the reduction in flights on 12 routes, two destinations - Hubli and Jabalpur - have lost connectivity with Mumbai since last week, according to aviation analytics firm Cirium's data reviewed
The presence of the private sector at a prestigious military training institution is an important acknowledgement of its growing capabilities in designing and manufacturing cutting edge aerospace and defence equipment, reports Ajai Shukla.
The international cargo operations of two major carriers - IndiGo and Air India Group (Air India and Vistara) - are experiencing opposite trajectories despite both the airlines significantly expanding their international flight offerings over the past year. During the fourth quarter of 2023-24, IndiGo's international non-passenger cargo business declined to 6,848 tonnes. This is an 18.2 per cent year-on-year (Y-o-Y) decrease, according to data from the Directorate General of Civil Aviation (DGCA)
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
'We have informed the government multiple times that the situation in the US and India are different.' 'Here, there will be a 500 MHz gap in the frequencies which will safely allow aviation without interference.'
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