He is the first high-profile person who has deposed before the ED in this case.
Are faulty design, hurried construction and private ownership to be blamed for the incidents of airport roofs crashing?
Taxes on ATF in India are among world's highest, and are seen as key reason for mounting losses of airlines.
The Delhi high court on Wednesday agreed with the contention of Akasa Air that the DGCA is not completely barred from taking action against pilots who violate the terms of their employment agreements. However, the court did not grant any immediate relief to Akasa Air which sought direction to the DGCA and Union Ministry of Civil Aviation to take action against its pilots who have resigned without serving the notice period, saying it will first decide the issue of jurisdiction raised by the aviation sector regulator. Justice Manmeet Pritam Singh Arora said since the Directorate General of Aviation (DGCA) has contended it has no jurisdiction to consider a representation made by the airline against the defaulting pilots under the extant law as it was a contractual dispute, the court will have to first decide the issue of jurisdiction before passing any other direction.
Godrej Aerospace is a tier-1 manufacturer of precision and hi-tech aerospace components, assemblies, and systems, executing global projects that serve the defence, space, and aviation sectors.
As per the current policy, 100 per cent foreign investment is allowed in scheduled air transport service, domestic scheduled passenger airlines and regional air transport
'We are getting to understand the mind of this generation.' 'Minor tweaks are being made to ease the process as we go along.'
Civil Aviation Minister Ashok Gajapthy Raju remained unfazed on Wednesday saying his exemption from frisking at airports should not be taken as a threat to security.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
NSG 'Sky Marshals' travel alone or in pairs on-board Indian airlines aircraft like normal passengers but they have a concealed weapon and some specialised gadgets to combat hijackers and rescue passengers in case such an incident takes place.
The Directorate General of Civil Aviation (DGCA) on Tuesday suspended Air India's Boeing simulator facility in Mumbai after finding certain alleged lapses during a spot check, a DGCA official said. The pilots, who were scheduled to undergo refresher courses at the Mumbai facility, will now not be able to do so.
Any reduction in the customs duty on smartphone parts in the forthcoming budget will harm India's developing component ecosystem, discourage investment, increase imports, and make local firms uncompetitive, potentially resulting in job losses, think tank GTRI said on Tuesday. India's smartphone industry is a 'Make in India' success story, with 2023-24 production reaching $49.2 billion and exports at $15.6 billion, making smartphones the fourth-largest export after diesel, aviation fuel, and polished diamonds.
The GST rate is 5 per cent and 12 per cent on economy and business class tickets, respectively
Apple's ambitious strategy to expand iPhone exports, shift more production from China to India at a faster pace, and grow its domestic market hits a Trump-sized roadblock.
Making a strong case for approval of their proposed airline JV, Tatas and Singapore Airlines have said that the venture would create significant job opportunities in India and would boost the country's image as an international investment destination.
Modi stressed the need to enhance aviation infrastructure capacity to meet the rising demand for air travel.
'IndiGo's position in this argument will depend on whether it has registered '6e' as a trademark.'
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 presence of an engine maintenance, repair, and overhaul (MRO) facility in India could have prevented Go First airline from going "belly up", as sending engines abroad for servicing is not an efficient way to operate a carrier, Piyush Srivastava, senior economic advisor, Ministry of Civil Aviation, said in a statement on Tuesday. On May 3, Go First suspended its flights and filed for insolvency, squarely blaming engine manufacturer Pratt & Whitney (PW) for its cash crunch. The airline claimed that about half of its 54 aircraft were grounded on May 3 due to a delay in the supply of engines by the US-based company. PW has denied the charges.
InterGlobe Aviation, the operator of India's leading airline IndiGo, delivered a better than expected performance across most parameters in Q2FY24. The company posted its fourth consecutive quarter of net profit of Rs 188 crore. It had reported a loss of Rs 1,583 crore in the same quarter a year ago.
The Civil Aviation Ministry is looking to increase air seat entitlement to Dubai by 20%.
'Invest only in stocks of those companies that deliver on earnings and there is earnings visibility too for the next few quarters.'
According to CAPA, partial abolition of the 5/20 rule was a serious compromise.
"Last time I stood, I was not allowed to speak. The ruling party paid a very heavy price for throttling the voice of one MP," she said, referring to her suspension in the last session.
The department of personnel and training has asked the Union Public Service Commission to recruit such specialists through "lateral entry" mode in 12 government departments/ministries, he said.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
Given all the risks in the world today, including the political instability, economic uncertainty, public health emergence and terrorism, there is not much buffer to absorb a significant change for the worse in the operating environment
Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons. Asthana is a former top official of the Central Bureau of Investigation (CBI). In a notice to the stock exchanges, Religare said that while the company and Asthana were weighing the options of dealing with the letter of refusal by the RBI, it was also busy in preparing for the "herculean task" of making ready multiple applications to regulators.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
The domestic aviation industry is expected to report a net loss of Rs 25,000-26,000 crore this fiscal with elevated jet fuel prices and fare caps continuing to pose a major challenge for the airlines' profitability, domestic rating agency ICRA Ltd said on Thursday. The domestic airlines, however, are likely to post a reduced net loss of Rs 14,000-16,000 crore in the next financial year on the back of a "notable recovery" in air passenger traffic and lower level of debt, ICRA said. The ratings agency also estimates that the industry will require an additional funding in the range of Rs 20,000-22,000 crore during FY22-FY24.
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
Finance Minister Nirmala Sitharaman in his Budget speech said that India's FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.
'The regional market has been brought to life. This is a big development in India's aviation sector,' says Civil Aviation Minister Jayant Sinha.
Pawan Hans could command a valuation of 8-10 times earnings.
Airfares on major domestic routes such as Kolkata-Bagdogra, Delhi-Bengaluru, and Delhi-Mumbai have witnessed an increase of up to 12.7 per cent year-on-year (Y-o-Y) in May this year, according to data by Thomas Cook (India) and SOTC Travel. The recent increase in aviation turbine fuel prices, rupee depreciation, reduction of flights by key players, and grounding of planes due to engine supply issues have contributed to the rise in airfares, said aviation industry experts. However, the data also shows that summer airfares on key routes such as Delhi-Leh and Delhi-Kolkata have significantly decreased due to the introduction of new flights.
The commercial flight operations of Rakesh Jhunjhunwala-backed Akasa Air will be launched in July instead of June. "As we get closer to the airline launch date, we can now confirm refined estimates on our timelines. "We expect our first aircraft delivery by early June 2022, with the intention to start commercial operations in July 2022," Vinay Dube, CEO, Akasa Air, told PTI.
'People will say a lot of things -- ignore the noise.'
Airline systems across airports, which were impacted due to a global IT outage on Friday, have started working normally, and all issues are likely to be resolved by noon on Saturday, Civil Aviation Minister K Rammohan Naidu said. The ministry is constantly monitoring the operations at airports and airlines to ensure travel readjustments and refunds are taken care of, he added.
Go First chief executive officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline's staff, seeking their support for revival. While Khona said the company had taken all steps for the airline's revival, Lal put forward the view it would have to raise funds. Employee engagement took place a day after the National Company Law Tribunal (NCLT) admitted the airline's insolvency plea on Wednesday and ordered a moratorium on recoveries.
President Mohamed Muizzu, known for his pro-China stance, has thanked India for enabling the resumption of medical evacuation services with civilian aviation personnel from India.
