Airlines have opposed the rules that make it compulsory for them to pay compensation to passengers in case a flight is delayed by more than four hours
Cash-strapped domestic airlines have asked the government to declare the civil aviation sector as 'core infrastructure' and rationalise taxes and duties on jet fuel, equipment, services and other items.
IOC encashed the bank guarantee Kingfisher had given for buying aviation turbine fuel or ATF for its fleet of 75 aircraft, 10 days ago, industry sources said. As on April 20, the private air-carrier owed IOC about Rs 160 crore (Rs 1.6 billion) in fuel bills. It sent a cheque of this amount to IOC but the cheque bounced, forcing IOC to encash the bank guarantee.
Petrofed, a body representing both public and private sector companies like Indian Oil Corp and Reliance Industries, has written to the government seeking inclusion of crude oil, petrol, diesel, aviation turbine fuel and natural gas in the goods and services tax that is likely to come into effect from next year.
'The simultaneous fire from so many guns rained down on the enemy and pulverised them, a sight I can never forget till my last breath.'
Higher economic growth and affordability will help Indian aviation firms register strong growth.
While we navigate the challenges posed by the current industry environment, our focus and attention remains on safety and operational reliability, said chief executive Vinay Dube.
Jet fuel or ATF prices in Delhi were slashed to Rs 30,288 per kilolitre, effective Saturday midnight, an official of Indian Oil Corp, the nation's largest fuel retailer, said. But for the 3.3 per cent increase in rates on January 16, jet fuel prices have been reduced for the ninth time on Saturday since September 1, 2008 when international crude oil prices started to decline.
The Indian aviation industry faced a paradoxical situation in 2011 suffering huge losses in the face of a burgeoning domestic air traffic, as it battled high fuel costs and fierce competition while looking up to the government for help.
IndiGo's co-founder and interim CEO Rahul Bhatia said profitability was significantly impacted by costs pressure from the increases in fuel price and the depreciation of rupee as well as competitive fare environment.
Jet fuel or ATF prices were on Thursday were cut by a steep 4.5 per cent, the first reduction in rates in six months.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
The aviation turbine fuel (ATF) prices have been raised by Rs 2,750 per kilolitre effective midnight tonight, Indian Oil Corporation (IOC).
Analysts expect holiday fares to inch up further closer to the travel dates, but airlines may still not be able to fully recover higher costs as fuel costs remain elevated
Airbus claims the new aircraft is 15 per cent more fuel efficient than the exiting versions of A320
Virtually ruling out any bail-out, the government on Saturday asked private airlines to withdraw their call for suspending flights on August 18 and warned them of "appropriate action" if flight schedules are disrupted.
Jet Airways made a stand-alone profit of Rs 87.5 crore (Rs 875 million).
Air travel is going to be dearer as major airlines have decided to raise the fares by at least 10 per cent besides increasing the fuel surcharge. The move by Air India, Jet Airways, Spicejet and Kingfisher comes in view of rise in prices of aviation turbine fuel by over nine per cent in line with the increase in international crude oil rates.
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.
Kardassis, who quit the airline in 2013, will advise Goyal and senior management on cost-saving and productivity improvement
The Delhi government has requested airlines to come up with a detailed note on how decrease in sales tax on aviation turbine fuel (ATF) will lead to higher offtake of fuel from Delhi airport, before taking any measure for reduction in taxes. Airlines have been repeatedly making representations to the state government asking for a reduction in sales tax on ATF from the current 20 per cent to 4 per cent.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15 per cent.
A parliamentary panel on Friday recommended for fixing of an upper limit for the economy class airfares to curb the "exorbitant" air fares during the peak tourist seasons.
Air fares to go up as ATF price is hiked by 8.2%.
That's a surprise since his protege Praful Patel has shouted down requests this week
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.
Speaking to reporters after inaugurating a Rs 50-crore (Rs 500-million) aviation turbine fuel pipeline of Indian Oil Corporation from Manali to Chennai, the minister said: "Air India will not sack employees but financial and organisational restructuring is on the cards."
State-run oil firms on Saturday hiked jet fuel (aviation turbine fuel) prices by 18.5 per cent in step with rising international oil prices.The ATF price charged from airplanes has been raised to Rs 69,227.08 per kilolitre (kl) in Delhi from midnight on Saturday, an Indian Oil Corp, the nation's largest retailer, said.
Some of the key fighter jet acquisitions over the years and the combat capabilities they possess that made India's airmen a force to reckon with are.
India lost around 38.5 thousand hectares of tropical forest in the last decade. Nearly 14 per cent of the country's tree cover! It is one thing for Modi to announce that India will reach a net-zero level of emissions in 2070. But if it is serious, it needs to start today, points out Ramesh Menon.
Rather than minimising competition, the airlines competed head-on in several routes and tried at one time to grab the market share at the price of profitability. The study, sponsored by Observer Research Foundation, asks government to ensure a level playing field by providing various tax reductions and concessions.
Experts say carriers will start making money on higher ticket prices, but jet fuel costs may act as a dampener
Reaching a consensus might also get tougher, as already seen with issues like inclusion of natural gas in GST and imposition of a sugar cess, both central proposals being resisted.
After two months of price cuts, the state-run oil companies on Friday hiked aviation turbine fuel (ATF) price by a steep 6.5 per cent in step with hardening international rates.
UDAN demonstrates that good policy-making can fulfill important public requirements without requiring budgetary support, says MoS for civil aviation Jayant Sinha.
The Union Cabinet is likely to take up the airline industry's concerns over high taxes on jet fuel and airport charges at its next meeting and a Group of Ministers (GoM) may be set up to focus on ATF pricing.
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