'I would not suggest buying these stocks in the dip, as the upside in profit is dented without a safety net for a rainy day.'
Sundays are generally quiet days for air travel, but this Sunday was a tad different. There was quite an excitement at Gate 28 of Mumbai airport's Terminal 1 as Akasa Air, India's newest airline, prepared to take to the skies on Day 1. With a new fuel-efficient Boeing 737 Max aircraft and soft cushioned seats equipped with USB ports, Akasa Air hopes to bring freshness to the flying experience.
Scheduled international passenger flights have remained suspended since March 23, 2020 in the wake of the pandemic and they will now restart from Sunday.
The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
Als0 looking to make its staff accountable for delay in operations
Anjuli Bhargava finds out that an astonishing number of relatives of DGCA officials over the years are and have been employed in the airline industry.
Civil aviation ministry to monitor flash sales and discount schemes: Source
In its report tabled in Parliament, the national auditor said the Dassault Aviation and the MBDA proposed in September 2015 to discharge 30 per cent of their offset obligations by offering high technology to the Defence Research and Development Organisation (DRDO), but the two firms are yet to do it.
Domestic airlines may increase foreign flight frequencies
Siva Prasad Nanduri, chief business officer, TeamLease Digital, outlines the skills that will help you get a job in 2023.
'Indian aviation cannot resume without at least three major airports being functional. If Delhi, Mumbai, Bengaluru, and Kolkata are shut, there is little chance that airlines will start flying even if the government gives the go-ahead.'
'During our recent rescue flights, the protective equipment being provided to the flight crew has been failing with an alarming frequency or has been plagued with other issues'
The move if implemented, will be a temporary measure to protect both consumers and airlines. A section of airline executives and experts, however, warned that any intervention in pricing would be counterproductive.
Airlines have to deal with high operating costs - fuel, taxation, airport charges - in a very competitive environment.
The 'context' of the launch of GSAT-15 highlights that India has much ground to cover in the transponder arena while in satellite navigation arena ISRO's progress has been satisfactory, says Ajey Lele.
In absolute numbers, India had only 211 start-ups compared to 970 in the US.
Hit by the third wave of the COVID-19 pandemic and soaring fuel prices, airlines are flying towards record losses with a likely loss of a whopping Rs 20,000 crore for the full fiscal year, warns a report. The airlines are flying towards their steepest-ever net loss of over Rs 20,000 crore this fiscal, which will be 44 per cent more than Rs 13,853 crore they bled last fiscal, Crisil said in a report. This will push back the industry's recovery beyond fiscal 2023, the report based on three large listed airlines--Indigo, Spicejet, and Air India--which together command 75 per cent of the domestic traffic, warned.
United States aerospace major Boeing on Thursday said it received approval from the country's government to offer its F-15EX multi-role combat jet to the Indian Air Force.
The government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally. A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
The government on Wednesday scrapped a week-old tax on the export of petrol and cut windfall taxes on overseas shipment of diesel and ATF as well as the one imposed on domestically produced crude oil after global oil prices fell. While the Rs 6 a litre export duty on petrol was scrapped, the tax on the export of diesel and jet fuel (ATF) was cut by Rs 2 per litre each to Rs 11 and Rs 4 respectively, government notifications showed. The tax on domestically produced crude was also cut to Rs 17,000 per tonne from Rs 23,250, a move that will benefit producers like ONGC and Vedanta Ltd.
With Fujian, China's third and most advanced aircraft carrier, having started sea trials last week, the PLA needed at least 200 qualified carrier-based fighter jet pilots to operate 130 ship-borne aircraft.
The carrier planned to bring in a plane a month from March to build a fleet of at least 10 jets by the end of the year.
'It was Parrikar's sharp insights into finance and international systems that stood out when India --at his suggestion -- decided to procure the Rafale combat jets from France.'
A bench of Chief Justice N V Ramana and Justice Manmohan issued notice to Civil Aviation Ministry, DGCA and others and sought their response by October 30.
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
The US is set for a geographically limited 5G rollout this Christmas, after a bumper $81 billion spectrum auction earlier this year. Just as the rollout date nears, the US Federal Aviation Administration (FAA) has sounded alarm bells over potentially fatal consequences of 5G interference on aircraft. Similar consequences could apply in India, where 5G spectrum auction is scheduled in January 2022, with the rollout beginning later next year (though reports suggest impending delays).
The IAC would serve to bolster India's position in the Indian Ocean Region (IOR) and its quest for a blue water Navy
A 1,000 kg handwoven khadi tricolour, the largest in the country, was unfurled atop a high mountain overlooking the Leh valley on Saturday to commemorate Gandhi Jayanti and the 75th anniversary of India's Independence.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
Swedish defence major Saab has unveiled its next generation fighter aircraft, Gripen E, which the company said is being offered to the country under the 'Make in India' initiative with transfer of technology.
There were nearly 4,000 cabin crew with Jet when the airline was grounded; every fifth remains without a job to date. One cabin crew member with 10 years of experience has been forced to take up a teaching job; some have branched out into small businesses. Aviation jobs were scarce even before the Covid-19 pandemic arrived on Indian shores in early 2020. The situation has been exacerbated since.
BJP leader Subramanian Swamy on Friday moved the Delhi High Court seeking an order restraining the Centre from granting any approval to AirAsia for its operations in India.
The 15 ministers were sworn in on Sunday for the expanded Gehlot cabinet, fulfilling a key demand of former deputy chief minister Sachin Pilot whose rebellion last year shook the state's Congress government.
The consortium of UAE-based businessman Murari Lal Jalan and London's Kalrock Capital -- which has won the bid to revive Jet Airways -- on Monday said it expects to start operating the airline by the summer of 2021.
'Everyone knows that you including your son won't be able to spend all the wealth that you have earned then why not at least pay the salaries of your employees,' the letter said.
The Cabinet on Wednesday approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi. The Cabinet "has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/ products of technical textiles with a budgetary outlay of Rs 10,683 crore," Textiles Minister Piyush Goyal told reporters.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
