Estimating that AI's total losses this fiscal would mount to $800 million in 12 months ending March 31, consultancy firm Centre for Asia Pacific Aviation has said that the airline would require at least $1 billion for rebuilding it self.
In his PIL, Sharma alleged discrepancies in the fighter jet deal with France and sought stay on it.
According to sources in the aviation ministry, only State-owned Air India and private carrier AirAsia India have agreed to pay the surcharge.
Ajit Singh says the govt does not intend to regulate fares but in the larger public interest, transparency is required.
Several companies and technology heavyweights including Microsoft, Oracle and Salesforce are working to create a digital vaccination passport or health passport app in the hope that governments and airlines will require travellers to upload details of their Covid-19 tests and immunisation. The vaccine passport will effectively create digital credentials that could be the key to attending crowded events or even visiting countries.
Five Rafale fighter aircraft arrived in India from France on July 29 and have started extensive training within 24 hours of touching down in the country. The French-origin fighter aircraft are part of the 17 Golden Arrows squadron of the Indian Air Force.
On June 30, the department had rejected the sole bid of Rs 1.09 crore offered by the United Arab Emirates-based aviation support firm Alna Aero Distributional Finance Holdings, against a reserve price of Rs 152 crore
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
Seeking an interim stay of the high court's verdict, the plea filed through lawyer C K Sasi said that it has challenged the 'arbitrary and illegal action' of the Airports Authority of India in attempting to prefer a particular private concessionaire, Adani Enterprises Ltd, for the operation, management and development of Thiruvananthapuram International Airport.
They shouted slogans against the signboard when the airport is named after Chhatrapati Shivaji Maharaj.
If you aren't living under a rock, it would be hard to miss reading or hearing about the Boeing 737 MAX aircraft being grounded by over 50 nations. For those who are in the dark or still confused about the entire episode, here's a simple FAQ on the issue and what's happening around the world.
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
Will space tourism with a niche market of serving only the uber-rich ever be profitable, asks Kumar Abishek.
The prime minister must clear his stand on the Rafale deal after Hollande's remarks, he said.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
The government and the ruling Bharatiya Janata Party have dismissed the Pegasus Project reports as concocted and evidence-less.
Earlier in the day, Jet Airways faced operational disruptions across major airports when IOC refused to refuel its planes without clearing the outstanding amount.
India took the first step towards legalising drones by officially publishing draft rules for drone operations in the Official Gazette on Friday. The rules, termed The Unmanned Aircraft System Rules, 2020, are open for public consultation for 30 days.
The Centre for Asia-Pacific Aviation also expects India's airlines to post a combined loss of a whopping $1.4 billion, with Air India likely to be the 'worst performer' to report a loss of almost the entire amount of $1.3 billion.
Talks gain ground of strategic stake sale to foreign investor.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
IndiGo said operations of the ATR fleet would be handled by an independent team that would be responsible for in-flight services, dispatch and control, and revenue.
The first batch of four Rafale aircraft will arrive in India by May 2020.
A source said that the lenders have proposed to change the management of the beleaguered air carrier as they feel it is not possible to run the company with present management.
The price of aviation turbine fuel, or jet fuel, in Delhi was hiked by Rs 1,039.1 per kilolitre, or 1.7 per cent, to Rs 62,208.18, according to Indian Oil Corp, the nation's largest oil firm.
The civil aviation ministry granted the traffic rights to Deccan Aviation, in which Kingfisher Airlines merged in 2007, to operate services to London and other global destinations. The airline, which has already firmed up plans to launch its Bangalore-London (Heathrow) flight from the first week of September, would be starting its international services on the rights granted to Deccan Aviation on the India-UK sector.
The Congress chief also described Defence Minister Nirmala Sitharaman's 3-day trip to France as part of a 'huge cover-up' by the government.
Beijing views the India-based Dalai Lama, the spiritual leader of the Tibetan people, as a separatist trying to split the Himalayan region from China.
Civil Aviation Minister Praful Patel said that he will try to help the airlines in every possible way.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
While the Union Cabinet had in November last year approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7. The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On Wednesday, the government said this deadline is further being extended up to July 31.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
"We are waiting for any input from any quarter," Civil Aviation Secretary R N Choubey said, adding, "We have not received anything so far".
Commerce Minister Kamal Nath on Friday announced that jet fuel supplies to long-distance flights of international carriers would be treated as exports.
Finance Minister P Chidambaram has supported Civil Aviation Minister Ajit Singh's suggestion on doing away with a rule that bars Indian carriers from flying abroad unless they complete five years of service and own a 20-aircraft fleet.
NITI Aayog wants the prime minister's flagship initiative should focus on labour-intensive sectors and policies that impede their growth to get special attention.
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
Promoters of SpiceJet do not have funds to bail out the airlines of dire consequences.
All covers have a war exclusion clause. For cargo, shipping, and aviation industries, war schemes are available.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
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