'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
No major relief for airlines from the Budget.
Observing that the Indian aviation industry was passing through a 'fragile and delicate moment', he said some airlines could go bust in the coming few months if 'structural changes are not carried out expeditiously'. As many as 25 carriers worldwide have folded up operations in the past several months due to huge losses, the latest being Italian national carrier Alitalia, leading to over 100,000 jobs in the aviation sector being lost.
Empty middle seat, no duty-free shopping to be new normal till WHO all-clear.
The airline industry remained largely undecided on the exact quantum of increase in fares following the hike in ATF prices. Industry sources, however, said the prices might increase by Rs 150 for short haul routes and Rs 300 for long haul routes.
Boeing India president says with the rising prices of aviation fuel, the airlines do not have any option but to increase the fares.
On the high costs facing the Indian airline industry, Goyal said the factors included a depreciating rupee against the dollar, escalating jet fuel prices, high taxes and rising infrastructure costs.
Facing headwinds due to pilot exits, Akasa Air on Friday said it had approached the Delhi high court seeking interpretation and clarification with respect to mandatory notice period requirements for pilots and that the move was not against the DGCA or the civil aviation ministry. Akasa Air, which started flying in August last year, has initiated legal action against a "small set of pilots" who left the carrier without serving their notice periods that led to cancellation of many flights. In a statement, the airline said it sought relief from the Delhi high court to stop the unethical and illegal practice by this set of pilots.
Indian airlines on Wednesday filled aviation turbine fuel (ATF) into the tanks of their aircraft at Rs 68,000 a kilolitre. Around the same time, ATF sold at $1,037.8 (Rs 41,500) a kilolitre at the Singapore airport -- full 39 per cent below Indian prices.
Bharatiya Janata Party's National Democratic Alliance partners have got five cabinet ministerial berths in the third term of Prime Minister Narendra Modi, as against none in the outgoing government, given the party's dependence on allies for a majority in the Lok Sabha.
Civil Aviation Minister Praful Patel on Friday said the airline industry in India has grown by 400 per cent in a short span of about six-and-a-half years.
In the previous decade, the government, with Praful Patel as the civil aviation minister, saw the introduction of an irrational 5/20 policy.
Jalan-Kalrock Consortium, the winning bidder for bankrupt Jet Airways, on Monday said aviation regulator DGCA has renewed the airline's air operator certificate. Cash-strapped Jet Airways stopped flying from April 17, 2019. The Air Operator Certificate (AOC) was re-issued on May 20, 2022. However, since the airline did not start operations, AOC expired on May 19, 2023.
On the issue of allowing domestic carriers to fly overseas before their completing 5 years of domestic operations, the document does not mention anything.
In its report, the International Air Transport Association said that in 2009 intra-Asia-Pacific travellers numbered 647 million compared to 638 million who travelled within North America, including domestic markets.
The Industry Ministry is in favour of allowing foreign airlines to invest in domestic carriers, saying it would help the cash-crunch industry to raise equity, an issue that does not find support among many Indian airlines.
The task force, to be headed by Finance Minister Nirmala Sitharaman, will look at measures to limit economic hardship caused by the Covid-19 pandemic, he said in his address to the nation.
They say better late than never. For the Tatas, the original owners of Air India, bringing back the airline to its fold is worth the wait even if the attempt to privatise the bleeding national carrier by successive governments has taken over two decades. While many airlines have come and gone from the Indian skies since the time when the first move was made to privatise Air India to date, the salt-to-software conglomerate has never let the love affair with aviation, more so with Air India that its former chairman Jehangir Ratanji Dadabhoy Tata (JRD) had, to go off the radar. It is said that Tata group executives used to complain in private that JRD -- the pioneer of the Indian aviation industry -- spent more time worrying about Air India than the Tata group when he was heading both the entities.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
India's fuel consumption slumped by over 66 per cent in the first week of April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
The intellectual vacuum that the government is often accused of is more than evident in the policy draft.
Wadia group-owned no-frills airline GoAir on Monday announced that its managing director Jeh Wadia has stepped down from the position. The airline, however, said that Wadia will continue as a promoter. It also announced the appointment of aviation industry veteran Ben Baldanza as vice chairman at the carrier. Baldanza has been an advisor to the company since 2018 and director since 2019.
The CISF, tasked with providing security at airports, has also ordered a court of inquiry into the incident.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
Kaushik Khona's second innings at GoAir will be more challenging than the first. Globally, the aviation industry is in deep distress because of the pandemic, reports Aneesh Phadnis.
India witnessed the highest increase in airfares among the 10 top aviation markets in the Asia-Pacific and West Asia collectively across both domestic and international flights Q4 2019 and Q4 2022 in nominal terms, according to research by Hong Kong-based Airports Council International (ACI). India, where fares went up by 41 per cent, was followed by the UAE (34 per cent), Singapore (30 (per cent) and Australia (23 per cent). The study, which was undertaken in collaboration with Flare Aviation Consulting, examined around 36,000 routes in the top 10 aviation markets in Asia-Pacific and West Asia.
Aviation companies are set to get a major relief from high aviation turbine fuel prices. Following a steep decline in crude oil prices, oil marketing companies are looking to cut ATF prices by 5-6 per cent, or Rs 2,000-2,500 a kl across various cities beginning Thursday, said industry sources.
Taxes on ATF in India are among world's highest, and are seen as key reason for mounting losses of airlines.
Aircraft maker Airbus on Thursday announced awarding a contract to Indian company Dynamatic Technologies for manufacturing all the doors for its next-generation narrow body A220 planes, giving a boost to the 'Make in India' initiative. While financial details were not disclosed, Civil Aviation Minister Jyotiraditya Scindia said it is one of the single-largest export contracts for an Indian aerospace manufacturing company and emphasised that the country is becoming a destination for aircraft component manufacturing activities.
The airport security market, which comprises segments like security, disaster response, identification, manning and cyber security is currently growing at a compounded annual growth rate of about 25 per cent, according to a study titled 'India Homeland Security Market: An Emerging Opportunity'.
Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
'Candidates will receive hands-on training in drone piloting, maintenance, data analysis, and regulatory compliance.'
The phenomenon of fog is largely Delhi-centric. 'Airlines may think that we only have conditions of extreme fog on a few days every year, and spending a pilot's time and the airline's money on training can add up to its expenses.' 'So, they may prefer holding it for a few days.'
