The company, which in the previous quarter announced former Capgemini top executive Thierry Delaporte as its new chief executive officer and managing director, is looking at improving its performance in coming quarters.
Singapore Airlines' deal with Tata Sons (Tata) will inject a further SGD 360 million ($267 million) into Air India. It will give SIA a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with Vistara Airlines. The November 2022 deal between Singapore Airlines and Tata Sons to further inject $267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report. This agreement is still subject to regulatory approval. SIA in the statement said, "The merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India.
Aircraft lease rentals are fixed costs and account for around 15 per cent of an airline's expense and since these are paid in dollars are also subject to currency fluctuations.
He was conferred with the Shaurya Chakra in August for averting a possible mid-air accident after his Tejas light combat aircraft suffered a major technical glitch last year.
While Indian telecom czar Sunil Mittal's Bharti did not share deal details, UK Business Secretary Alok Sharma said his government and Bharti Global, will provide $500 million each.
Air India pilot unions IPG and ICPA on Monday sought Civil Aviation Minister Hardeep Singh Puri's intervention on the wage cut issue and also requested for an "urgent" meeting with him on several other issues. "In our meetings in September, you had given us an assurance to look into our grievances positively. "While other airlines are rolling back the austerity pay cuts for their pilots, the wage cut for Air India pilots further increased from October.
An ONGC helicopter carrying nine persons including two pilots, on Tuesday fell into the sea while attempting to land on a company's rig in the Arabian Sea, the company said, adding that six persons have so far been rescued.
'Whatever you work towards, be dedicated, do your best. Never go to bed thinking I could have put in more effort'
In its report tabled in Parliament, the national auditor said the Dassault Aviation and the MBDA proposed in September 2015 to discharge 30 per cent of their offset obligations by offering high technology to the Defence Research and Development Organisation (DRDO), but the two firms are yet to do it.
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
'It was Parrikar's sharp insights into finance and international systems that stood out when India --at his suggestion -- decided to procure the Rafale combat jets from France.'
The Indian Navy has decided that the twin-seat Rafale will not be disqualified on the basis of its inability to operate from an aircraft carrier.
Paramount Airways, whose operations have been affected by a dispute over leasing of three aircraft, on Thursday offered to pay $5.25 million within six months to the UK-based lessor in the Supreme Court.
French companies have invested more than $1 billion per year in India.
Thanks to a $5.7 billion deal with Facebook, a Rs 53,125 crore rights issue and more stake sale to companies such as Saudi Aramco, the target is likely to be achieved by December.
Jet fuel prices on Monday were hiked by a steep 5.3 per cent - the tenth straight increase this year -- to an all-time high, in line with a surge in global energy prices. The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 6,188.25 per kilolitre, or 5.29 per cent, to Rs 1,23,039.71 per kl (Rs 123 per litre) in the national capital, according to a price notification of state-owned fuel retailers. This is the 10th straight increase in jet fuel prices this year.
On Thursday, he broke a record which had been held by former Chhattisgarh chief minister Raman Singh.
Finance Minister Pranab Mukherjee had proposed to introduce a service tax of five per cent on hotel room charges and three per cent on air-conditioned restaurants that serve liquor.
IndiGo promoter Rakesh Gangwal has written a letter to markets regulator Sebi flagging governance issues at the company and has accused fellow co-founder Rahul Bhatia and his firms of indulging in questionable related-party transactions.
The 101 Squadron is the second IAF squadron to be equipped with the Rafale fighter jets. In September last year, the Rafale aircraft were inducted into the 17 'Golden Arrows' Squadron.
While there were concerns about the security aspect of drones, top government officials were of the view that restricting the drone industry would stifle a sunrise sector which holds significant promise for future, reports Arindam Majumder.
The three state-owned oil companies have decided to defer snapping fuel supplies to Air India. The airline owes the three firms over Rs 5,000 crore in past fuel bills.
'This is a huge step in promoting the 'Make in India' mission as this bio-fuel would be produced from Tree Borne Oils sourced from tribal areas and farmers.'
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
Godrej and some other firms are frustrated at what they say is the slow execution of projects and lack of government support, which are hampering India's efforts to compete with China and Russia as a cheaper option for launching satellites.
Empty middle seat, no duty-free shopping to be new normal till WHO all-clear.
Rakesh Gangwal had raised concerns that various RPTs involving Bhatia's InterGlobe Enterprises Group were executed without seeking the audit committee's approval and without seeking competitive bids from third parties.
Siva Prasad Nanduri, chief business officer, TeamLease Digital, outlines the skills that will help you get a job in 2023.
This will be the largest claim in the aviation sector for Indian insurers in the last three years
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
IndiGo has confirmed the delivery of the next set of 25 ATR-72 jets and will be inducting around 10 planes by the end of this calendar year, making it the largest regional fleet operator in the country.
The job market saw an uptrend in the March quarter (Q1), with job interviews increasing 13.71 per cent quarter-on-quarter (QoQ) to over 30 million, according to Apna.co, India's largest jobs and professional networking platform. It recorded a 42 per cent QoQ growth in its employer base. As a result of the second wave of Covid-19 last year, sectors such as healthcare, delivery, and e-commerce were booming while others had fairly low employment.
The Cabinet on Wednesday approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi. The Cabinet "has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/ products of technical textiles with a budgetary outlay of Rs 10,683 crore," Textiles Minister Piyush Goyal told reporters.
The feud between Gangwal and Bhatia came into the public after the former, in July, wrote to markets regulator Sebi seeking its intervention to address alleged corporate governance lapses at the company.
The move comes when Kingfisher remains the only listed airline in India to have made losses in the third quarter of the current financial year.
The Union Cabinet on Tuesday gave its approval for private participation in the construction of international airport in Bangalore.
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
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