The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
Major global aviation and defence consortium, European Aviation, Defence and Space company will invest in an engineering centre in India to develop aviation software and aircraft designs for its planes and other systems.
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines after the high court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman's assets in India. Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya's lawyers. At a virtual hearing, July 26 was set as the date for final arguments for and against granting a bankruptcy order against the 65-year-old Mallya after the banks accused him of trying to "kick matters into the long grass" and called on the "bankruptcy petition to be brought to its inevitable end".
'The levy proposed to be charged on air tickets for regional connectivity fund would marginally increase cost.'
The labour ministry has made public a list of 60 officers -- essentially labour commissioners in 20 regions across the country -- along with their e-mail address and contact numbers. They will deal with distress calls from workers who are working under the 'central sphere'.
Jet Airways, IndiGo and GoAir achieved operating profits of Rs 122.6 crore (Rs 1.22 billion), Rs 795.8 crore (Rs 7.95 billion) and Rs 85.1 crore (Rs 851 million) respectively during the same period, Minister of State for Civil Aviation K C Venugopal said in reply to a question.
SpiceJet had bet its fortunes heavily on the new version of the 737 of which it has 13 planes in its fleet and another 193 aircraft on order
The upgraded Mirage 2000 fighter aircraft will be installed with India-made multi-function displays under an Indo-French partnership, as part of a programme to enhance the operational life of multi-role fighters by around 20 years.
The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
Etihad, Emirates and Qatar Airways have combined hired more than 100 Indian pilots in the last six months.
In Mumbai, jet fuel will cost Rs 72,830.64 per kl from tomorrow as against Rs 68,103.26 per kl at present.
The value of the ace investor's personal holdings rose by just 2%.
The first to take off will be Air Pegasus, promoted by Bengaluru-based ground-handling firm Deccor Aviation.
The downturn in the aviation industry has not discouraged real estate companies, flying academies and large industrial houses from India eyeing private airport development.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said on Monday.
While IndiGo had 11.8 per cent of all the international seats to and fro India in the last week of August, Air India's seat share was 11.4 per cent. Emirates came third with 8.1 per cent, and rest of the airlines constituted 68 per cent of the seat share.
Despite the increase, at Rs 64.32 per litre ATF costs less than petrol and diesel.
Airlines are now pushing up fares and hopes to improve margins over the next three months to make up for the poor September quarter, even if it leads to a slight fall in their passenger load factor.
Aditya Ghosh, with no prior aviation background or MBA degree, managed not only to become the CEO of an airline but even piloted it to the top with almost half of the market.
This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1. Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.
Young professionals who lost their jobs tell Rediff.com's Divya Nair how they reclaimed their lives.
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
The Federation of Indian Airlines had challenged the aviation regulator's decision this week to issue an operating permit to AirAsia India.
The price of aviation turbine fuel, or jet fuel, in Delhi was hiked by Rs 2,797.41 per kilolitre (kl), or 4.5 per cent, to Rs 65,005.59, according to Indian Oil Corp, the nation's largest oil firm.
HC asks DGCA not to de-register SpiceJet planes till April 6.
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
Government to ask airlines to educate flyers. 'It will be an exhaustive charter which will tell the passenger about all their rights, like whether they are eligible for a refund when there is a delay in flight, what to do in case of a flight delay and other in-flight etiquette.'
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
'Sholay wallah kahani hai: 'Gabbar Singh aayega, Gabbar Singh aayega.' 'But what is inside Gabbar Singh nobody knows.'
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
In their new venture, Tata SIA Airlines Ltd, Tata Sons would hold 51 per cent stake and Singapore Airlines 49 per cent.
India has received nearly Rs 30,000 crore worth of FDI in the private sector insurance firms since 2015, when the government had increased FDI limit from 26 per cent to 49 per cent. Investment under the automatic route does not require prior approval from the government.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
AirAsia India, which started operations on June 12 2014, had a market share of 6.2 per cent of the domestic traffic in April.
State-run oil companies on Wednesday raised prices of aviation turbine fuel, or ATF, for the third time in a month, this time by about 6.7 per cent, in step with international rates, which are firming up.
We are going to deliver 36 aircraft. If the government of India wants more aircraft, we will be pleased to deliver, he said.
PM to take a call on reopening places of worship on Saturday; state governments empowered to take a call on malls and wedding halls; domestic flights expected to resume on May 18, with Air India being first off the blocks.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
Swedish defence major Saab has offered to manufacture its fifth generation Gripen fighter aircraft in New Delhi with technology transfer to India.
The average fares of all airlines are almost linear.
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