India's second largest budget carrier SpiceJet, which reported a record Rs 1,003 crore (Rs 10.03 billion) net loss last fiscal, may soon receive the much-needed capital infusion as talks with an overseas investor have reached "very advanced stages".
While jet fuel price was increased by Rs 2, subsidised LPG price has been hiked by Rs 4.50 per 14.2-kg cylinder. Non-subsidised LPG to cost Rs 93 more.
The airline requires these pilots for the wide-body Boeing 777s.
State-owned oil firms on Tuesday hiked jet fuel by 5.5 per cent in sync with rise in global rates.
Public sector oil firms on Thursday raised aviation turbine fuel (jet fuel) prices by up to 2 per cent, the second increase in three months.
Officials differ, say firm should first fly regional.
But demand has shown signs of pick up in the last 10 days of April after the government allowed resumption of economic activity beyond the urban municipal limit.
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
The revised structure will help to keep airfares down, when airlines already face a triple challenge of rising crude oil prices, rupee depreciation and constrained airport capacity.
The revised policy, which has come into effect since last week, means passengers who are looking to skip the long queues at airports will have to shell out a fee for it. For IndiGo, the lowest seat fees is Rs 100 while for SpiceJet it is Rs 99.
In a tweet, the IAF welcomed the "new bird" into its arsenal.
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
In what is seen as a significant move, the DAP featured measures to reduce delay in procurement of essential items by the three services as it proposed a new enabling provision to acquire them through capital budget under a simplified procedure in a time-bound manner.
The average age should be around 35 years, the sources said, adding those older should be shifted to ground operations.
Major no-frill carrier IndiGo expects to continue its profit-making streak this financial year too, as it plans to increase frequencies on select international routes soon.
Days after its recent downgrade by the US aviation regulator, DGCA has set up two dedicated technical teams for surprise inspections on the aircraft of foreign airlines and charter firms and carry out extensive safety checks.
The firm, which aims to double sourcing from India, is looking at partnerships with institutions such as the IITs
About 20 per cent of India's manufacturing firms in sectors like engineering, textiles and aviation are not able to produce quality products due to obsolete machinery and technology, according to a study by industry body Assocham.
This is the second straight increase in jet fuel rates in as many months.
Travel bubbles, also called travel bridges or green corridors, do away with the waiting period for travellers from certain countries. They are reciprocal in nature, meaning flyers from both countries will enjoy similar benefits.
The hike comes on back of over 12 per cent hike on June 15. ATF price on that day were raised by Rs 3,949 to Rs 36,252 per kilolitre in Delhi.
The increment percentages have dropped by 1-2 per cent across levels compared to last year.
"A global settlement was reached between the French tax authorities and Reliance Flag, a telecom company, in a tax dispute pertaining to the period 2008-2012," the French embassy said in a statement.
US aviation major Lockheed Martin, in the race to sell 126 F-16 jets to the air force, is in talks with Indian firms like HAL and the Tata group for the outsourcing of aircraft components, a company official said on Tuesday.
The biggest let down for India's aviation sector has been the failure of the government to privatise Air India, says Anjuli Bhargava.
He will be the first former Chief Justice of India to be nominated to Rajya Sabha. Former Chief Justice Ranganath Misra was also a Rajya Sabha member but he was elected on a Congress party ticket.
Minister of State for Civil Aviation Jayant Sinha emphasised that the brand name has both sentimental and economical value.
Air Chief Marshal B S Dhanoa said that no country in the world is facing the kind of grave threat that India is confronted with.
Crisis-hit SpiceJet may get the first round of its much-needed fund infusion in the next two days, while more may come in a month's time as part of an estimated $200 million investment plan, sources said on Thursday.
Sobha Puravankara is yet to explain to the safety lapses found by the DGCA.
In a move which could affect the Jet-Etihad deal or start-up carriers like Tata-SIA or AirAsia India, DGCA has made it clear that foreign airlines or investors would not have the right to control the management of an Indian carrier.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
Ghosh, 43, will be reporting to 25-year-old Ritesh Agarwal, who founded OYO with a single hotel in 2013.
'Airlines will be asked to submit a detailed plan on the viability of the location.'
In a major relief to cash-strapped airlines, jet fuel (ATF) prices were today reduced by a massive 5 per cent, the steepest reduction in rates since February 2010.
Based on the Skytrax ranking for 2018, IndiGo is number two among the best low-cost carriers in Asia, behind rival AirAsia.
The jet fuel rate will go up by Rs 104 per kilolitre in Delhi to Rs 32,303, an IOC official said. The increase comes on the back of a 1.8 per cent hike in rates on May 16. On May 1, state-run oil firms marginally reduced the price by one per cent, which had brought the rates in Delhi down to Rs 31,614.51 per kl. In Mumbai, home to the nation's busiest airport, the rate will go up from Rs 33,138 per kl to Rs 33,261 per kl.
The aviation turbine fuel (ATF) prices have been raised by Rs 2,750 per kilolitre effective midnight tonight, Indian Oil Corporation (IOC).
Sadhguru Jaggi Vasudev believes we should have 1.2 billion Gods and Goddesses. It is, he says, the surefire way to reduce conflict in India. A fascinating interview with the maverick guru.
