French investigative journal Mediapart has made fresh claims that alleged bogus invoices were used that enabled French aircraft maker Dassault Aviation to pay at least 7.5 million euros in secret commissions to a middleman to help it secure the Rafale deal with India.
Notwithstanding the sweltering heat engulfing major cities, travellers can find solace in the steady airfares to popular summer destinations like Srinagar, Bagdogra, and Kochi. According to airline executives, capacity increases and moderate demand have kept spot airfares from scorching cities like Delhi on a par with the same period last year.
The Directorate General of Civil Aviation (DGCA) on Tuesday suspended Air India's Boeing simulator facility in Mumbai after finding certain alleged lapses during a spot check, a DGCA official said. The pilots, who were scheduled to undergo refresher courses at the Mumbai facility, will now not be able to do so.
Like Air India, there have been recent cyber attacks on some major airlines, including one in Canada, and a global airlines alliance
The Maharashtra government has become the owner of iconic Air India building with the Union government approving transfer of the asset on Thursday. The Maharashtra government bought the Air India building at Nariman Point in Mumbai for Rs 1,601 crore. "GoI has approved transfer of Air India building, Mumbai of AI Assets Holding Company Ltd (AIAHL) to Government of Maharashtra (GoM) at consideration of Rs.1601 cr. GoM has agreed to waive dues of Rs. 298.42 cr, which would have been otherwise payable by AIAHL to GoM for this transaction," DIPAM secretary Tuhin Kanta Pandey said in a post on X.
The country's largest airline IndiGo has decided to place an order for another 10 A320 neo family aircraft. These planes will be in addition to the nearly 1,000 planes already ordered by the carrier. The latest decision comes little over two months after IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus, which was one of the largest-ever aircraft purchases by an airline.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
Top companies have grabbed a bigger pie of their sectors in the pandemic period, leading to a further rise in market concentration in many industries as measured by the Herfindahl-Hirschman Index (HHI). The HHI score, which indicates competitive intensity in an industry (or a lack of it), reached a new high in FY21 as bigger firms raised their revenue market shares either organically or through mergers and acquisitions. A higher HHI score indicates a rise in market concentration in favour of a few firms while a lower score means that the industry's revenue is more evenly divided among many companies
Big and small domestic IT firms are busy positioning themselves to snap up the $8 billion market opportunity that the aerospace sector has created.
It was not a smooth sailing for the Indian aviation industry in 2012 as it saw the grounding of Kingfisher Airlines and financial trouble hitting Air India and other carriers besides a prestigious $500 million airport upgrade contract bagged by a leading Indian infra firm being terminated by the Maldives government.
The court will take cognisance of the chargesheet on August 6. At present, Rai is in judicial custody.
From the retail pack, Future Group firm Pantaloon Retail surged 32.61 per cent to Rs 209, while Provogue India gained 17.83 per cent to Rs 18.90 on the BSE.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
The first hurdle is how long Jet Airways can enjoy rights over its parking slots at various airports.
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).
Jet fuel prices are likely to be reduced by Rs 2,000 per kilolitre from December 1 in line with fall in international oil prices.
In their pre-budget expectations, they also asked the government to assess the option of developing unused airstrips located in various parts of the country to boost air connectivity.
The National Company Law Appellate Tribunal (NCLAT) on Monday upheld an NCLT order allowing crisis-hit Go First's voluntary insolvency resolution proceedings. A two-member NCLAT bench asked several aircraft lessors of Go First opposing insolvency, to approach National Company Law Tribunal (NCLT) for any remedy. "The order dated May 10, 2023 allowing insolvency is upheld," said the NCLAT bench headed by Chairperson Justice Ashok Bhushan.
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
Private carrier Air India on Tuesday unveiled its new collection of uniforms, designed by Manish Malhotra, for its cabin and cockpit crew. The new uniforms will be introduced in a phased manner over the next few months, starting with the entry of service of Air India's first Airbus A350 aircraft, the company said in a statement. "Air India's crew uniforms are amongst the world's most storied in aviation history, and we firmly believe that Manish Malhotra's innovative ensemble will script an exciting new chapter for Air India's future narrative," said Campbell Wilson, chief executive officer and managing director at Air India.
State oil firms on Wednesday raised jet fuel (aviation turbine fuel) price by 5 per cent in line with the spike in international oil prices, which have touched a record $71 US a barrel.
There are 394 unserved and 16 under-served airports in the country.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Tata Group-owned Air India has placed an order for 840 planes with Airbus and Boeing, including the option to acquire 370 aircraft, with a senior airline official on Thursday saying the order is a "landmark moment" in the Indian aviation history. The announcement by Air India's Chief Commercial and Transformation Officer Nipun Aggarwal comes a day after the airline said it has placed a firm order for 470 aircraft -- 250 from Airbus and 220 from Boeing. In a LinkedIn post, Aggarwal said the airline is humbled by the excitement generated across the world by the airline's aircraft order.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Maharashtra government on Wednesday decided to acquire the iconic Air India building at Nariman Point in Mumbai for Rs 1,601 crore. The decision was taken at a meeting of the state cabinet in Mumbai. The meeting, chaired by Chief Minister Eknath Shinde, also decided to waive off around Rs 250 crore unrealised income and interest on the property, an official said.
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The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
The Directorate General of Civil Aviation (DGCA) suspended the licences of 92 pilots in 2022 for violating safety norms, which was more than double the 2021 figure. The number of scheduled flights (domestic and international) in India increased by 32.74 per cent to 1.3 million in 2022, according to data from aviation analytics firm Cirium. A DGCA official stated that the minimum period of licence suspension in 2022 was one month and the maximum was three years.
Jet Airways and Kingfisher Airlines may move towards a second round of mergers and acquisitions as smaller low-cost airlines and other rivals, hurt by rising fuel prices, seek an exit from the business to cut losses, an industry expert said. State-run oil firms have hiked jet fuel (aviation turbine fuel) prices by 18.5 per cent in line with rising international crude oil prices.
Akasa Air has reduced its service on 10 routes and stopped operating flights on eight others since the exodus of pilots began in early July. The airline's flights per week reduced from 945 in June to 754 in October, according to aviation analytics firm Cirium's data, which has been reviewed by Business Standard. The airline currently operates flights on 34 routes. Between June and October, Akasa Air ceased operations on the following: Ahmedabad-Kochi, Ahmedabad-Hyderabad, Ahmedabad-Pune, Bengaluru-Hyderabad, Bengaluru-Chennai, Kochi-Hyderabad, Goa-Lucknow, and Goa-Hyderabad.
An airlines industry body has sought reduction in customs and excise duties on aviation turbine fuel and allowing private firms to supply it to bring down prices.
A European cargo airline has moved the National Company Law Tribunal seeking expeditious acquisition of three Jet Airways B777-300 aircraft. The application is by a Malta-based Ace Aviation VIII Limited, which emerged as a successful bidder in the auction of three Boeing 777-300ER aircraft. The firm is part of a Belgium-based cargo airline and its application will be heard on Wednesday.
Public sector oil firms have cut aviation turbine fuel (jet fuel) prices by up to Rs 745 per kilolitre or 1.85 per cent in wake of falling international prices.\n
Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 6,854.25, or 5.79 per cent, in the national capital to Rs 111,344.92 per kl from Rs 118,199.17, according to a price notification of state-owned fuel retailers.
The negotiations on cost and techno-commercial details relating to India's proposed procurement of 26 Rafale-M fighter jets and three Scorpene submarines from France are not yet concluded, sources said on Tuesday.
The estimated investment for the facility, which will undertake domestic and international projects, would be $100 million.
Improving economy and investment in Indian carriers and hotels by global companies is likely to lead to hiring for aviation and hospitality sectors witnessing up to 40 per cent growth in 2015, according to experts.
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