Defying high court orders, oil PSU executives on Wednesday stopped work forcing stoppage of natural gas supplies to industries on the nation's main trunk pipeline but aviation services and fuel supplies continued to be normal.
Jet fuel or ATF price on Tuesday was hiked by a steep 8.5 per cent - the second increase in a month, while commercial cooking gas rate was cut by Rs 100 per cylinder in line with divergent trends in international benchmarks. Aviation turbine fuel (ATF) price was increased by 7,728.38 per kilolitre, or 8.5 per cent, in the national capital to Rs 98,508.26 per kl, according to a price notification of state-owned fuel retailers. Rates, which vary from state to state depending on the incidence of local sales tax or VAT, have been increased on firming up of global rates that followed four months of decline.
GoAir recently introduced return zero fare tickets under 'GoHappy Fares' plan, while low-cost arm of Air India, Air India Express offered domestic travellers a fare of Rs 99 plus taxes. Air Deccan, which has been taken over by Kingfisher Airlines and Spicejet are already in the race offering such sops. For AI Express, which has been primarily operating on international routes, this is an effort to reach out to the domestic market.
Speaking to Business Standard, Jet Executive Director Saroj Datta said: "SpiceJet and JetLite are an absolute fit in so far as their business models are concerned."
The United Kingdom government on Tuesday said that though the air traffic control 'technical issue' that led to the severe disruption of hundreds of flights and left thousands of passengers stranded has been resolved, routes will continue to be affected for some days as airlines scramble to recover from the domino effect on their schedules.
In recent days, there have been complaints from passengers about long queues and waiting hours at the airport.
The rupee has touched a five-year high, crossing the Rs 47 mark. The average value of the currency against the dollar during September was almost 14 per cent lower than in April. More than a third of an airline's costs are dollar denominated. Major heads of expenditure include aircraft ownership, maintenance and spares costs. Also included are international training and a certain chunk of sales and distribution costs.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
'I am seven months into the job, but it feels like seven years.'
Civil Aviation ministry has cancelled approval to the controversial private airport project at Aranmula in the Pathanamthitta district of Kerala.
The airline had told its pilots on Wednesday that they will not be paid salaries for April and May, adding that those who have been operating cargo flights will get paid for the number of hours flown.
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
Modi made the comments in his address after inaugurating the 14th edition of Aero India at the Yalahanka Air Force station complex on the outskirts of Bengaluru.
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
The much-awaited merger between Air-India and Indian is expected to be cleared by the Union Cabinet by end of February, with the committee of secretaries submitting its recommendations to the Group of Ministers.
Sixteen aircraft will be delivered in a flyaway condition by the Airbus Defence and Space of Spain within 48 months of signing the contract while the remaining 40 planes will be manufactured in India, according to the defence ministry.
Dressed in colourful attire, members of the Lok Sabha and the Rajya Sabha on Tuesday got their group photograph clicked in the old Parliament building, hours before legislative proceedings shift to the new Parliament House.
India also went on an overdrive in expanding its military engagement with like-minded countries in its neighbourhood and beyond in the face of China's relentless attempts to become a regional hegemon and establish its primacy in South Asia.
Falling demand compels domestic carriers to slash capacity by 10 per cent.
Adani Group on Thursday said it has formed a 50:50 joint venture with Japanese conglomerate Kowa Group for sale of green hydrogen in Japan, Taiwan and Hawaii markets. Billionaire Gautam Adani-led conglomerate is investing up to $50 billion over the next 10 years in setting up a fully integrated green hydrogen ecosystem in India. This includes the production of 1 million tonne of green hydrogen in the initial phase which will be ramped up to 3 million tonne later.
There is no doubt that India is a large growth market in the long term. But there are major problems related to aviation turbine fuel (ATF), ATC, infrastructure, shortage of pilots and so on. Taking all of this into account, I would call our approach one of maintaining long-term sustainability - a step-wise, organised growth with a focus on efficiency, says Edgardo Badiali.
Needless to say, Kingfisher is planning to deploy all foreign cabin crew on its US flights.
Capa lauded govt's efforts in rescuing SpiceJet.
Iraq war to hurt Indian airline industry.With war clouds looming large over Iraq, the Indian airline industry is bracing itself against an increase in insurance premium and an additional burden of an estimated 25 per cent hike in ATF.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
The race is on to build a car that gets 100 mpg. The purse? A $25 million prize -- and a piece of history.
A total of 17 pilots of Air India, IndiGo and Vistara died due to COVID-19 in May when the country saw the peak of the coronavirus pandemic's second wave, sources said on Thursday.
The government on Friday cut the windfall profit tax on locally produced crude oil in line with a fall in international rates, and reduced the levy on export of diesel and jet fuel (ATF). At the fifth fortnightly review, the government reduced tax on domestically-produced crude oil to Rs 10,500 per tonne from Rs 13,300 per tonne. The levy on the export of diesel was reduced to Rs 10 per litre from Rs 13.5. Also, the tax on Aviation Turbine Fuel (ATF) exports was cut to Rs 5 a litre from Rs 9 with effect from September 17, according to a finance ministry notification issued late Friday night.
Within two weeks of many airlines deciding to roll back salary cuts encouraged by a steady increase in traffic flow, a second wave of coronavirus along with rules of compulsory RT-PCR test has hit forward bookings. The fears of last summer, when the pandemic had overturned all the wisdom of airline boardrooms, have returned to haunt the aviation industry. According to an official in the Ministry of Civil Aviation, flight occupancy is down to 60 per cent from 70 per cent in the first week of March. Airline lobby group IATA estimates that low cost airlines need to fly at 80 per cent occupancy to be profitable.
Air India's handling of an incident in which an inebriated male flier allegedly urinated on a woman co-passenger suggests an urgent need for stricter rules to deal with unruly passengers, according to legal and aviation experts.
Air Deccan, the country's second largest airline, on Friday announced it has signed a deal with two European banks to raise $100 million (Rs 450 crore) to help ensure its financial stability and insulate it from the "turbulence" in the domestic aviat
US Exim Bank has agreed to extend guarantee for up to 85 per cent of the $7.2 billion (Rs 33,500 crore) loan that Air India requires for replenishing its fleet with 68 new aircraft from Boeing Co.
In a meeting with stakeholders last week, the authority mooted setting up a Special Purpose Vehicle along with airlines and state-owned oil marketing companies to develop common infrastructure to import ATF, among others, at Chennai and Kolkata airports. While AAI and OMCs will hold 76 per cent in the proposed SPV, the airlines will participate in the remaining 24 per cent equity.
Air India has been a subject of its passengers' ire this week as more than half of its flights have been delayed, primarily because of an old crew rostering system. Due to the existing system, the airline has not been able to handle the disruption created by cyclone 'Biparjoy' on India's western coast. The sudden grounding of two planes also added to the carrier's woes.
On a full year basis, the airline made a loss of Rs 934.8 crore. The company has incurred a net loss during the current and previous year and, the its current liabilities exceeded its current assets
From the 30-share pack, Asian Paints, Reliance Industries Limited, Bajaj Finance, Mahindra & Mahindra, Indusind Bank, Bajaj Finserv, Maruti Suzuki, HDFC Bank and UltraTech Cement were the major gainers, jumping up to 5.56 per cent.
