Facing flak following frequent flight disruptions over the past three days, national carrier Air India on Tuesday said it was facing shortage of pilots and was trying to overcome the situation by recruiting them from abroad. "It is not as if the airline did not take necessary action. But the growth of the aviation sector has been so explosive that the airline is facing shortage and is taking in expatriate pilots," AI chairman and managing director V Thulasidas said.
The government was also working on a package to promote connectivity and airports in the North Eastern states
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
LSG Sky Chefs is the sole independent international airline caterer in India and has a presence at the old airports of Hyderabad and Bangalore. It is building facilities at Hyderabad and Bangalore to replace the existing ones.
Domestic air passenger traffic touched 1.25 crore in January this year, an increase of 96 per cent compared to the year-ago period, according to rating agency Icra. However, it said the traffic remained around 2 per cent lower compared to the pre-Covid levels -- January 2020. The traffic stood at 64 lakh in January last year. Icra is maintaining a negative outlook on the Indian aviation industry, reflecting the view that the financial performance of Indian airlines is likely to remain under pressure in the near term, even though the recovery in domestic passenger traffic has been healthy.
The pre-Budget document on health of the economy stated that telecom, power, coal, ports, civil aviation and roads have shown signs of recovery in 2009-10.
With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up the order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.
Small aircraft operators want better infra at regional airports.
Air passenger traffic is expected to grow at a slower rate during financial year 2008 as compared to 2007, according to management consultant E&Y's annual report for 2008 on the Indian aviation sector. The report said that total passenger traffic would reach 118.5 million by the end of financial year 2008, a mere 23 per cent increase over the previous year. In comparison, passenger traffic in 2007 showed a growth of more than 31 per cent.
The biggest let down for India's aviation sector has been the failure of the government to privatise Air India, says Anjuli Bhargava.
Facing the heat of the financial crisis that has hit the aviation sector, state-owned Air India on Thursday said it is considering a plan to give 3-5 years leave without pay to about 15,000 of its staff.
Airbus hasn't bagged orders from India in the last two years, but country head Kiran Rao is bullish on opportunities.
Malaysia's budget airline AirAsia, which is eyeing more routes to India, China and Singapore, has said the country's aviation sector must be open to competition to ensure passenger growth. \n
Aircraft manufacturer Boeing is reducing its forecast of the Indian market by half beyond 2012 as a result of the slowdown in the aviation sector.
'If the business doesn't recover in next 6-10 months, there might be situation where there would be some lay-offs...That may be required for survival and to ensure livelihood to millions of people.'
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
Travel portals have also increased their ad spends by anywhere between 20 and 50 per cent and have added value packages and special holiday discounts.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
The website would also add space for passenger grievances and the grievances would then be taken up with appropriate authorities, APAI president D Sudhakar Reddy and vice president Milan Zatakia said.
Shares of SpiceJet on Wednesday rose by over 19 per cent even as aviation regulator asked the no-frills carrier to immediately stop its offer of one-rupee fares across its domestic network.
If all 102 grounded planes could fly, there will theoretically be 400 more Delhi-Mumbai flights every day.
Entry-level obstacles came in the way of stepping up British investments in India but efforts of united progressive alliance government to further liberalise foreign direct investment, particularly in telecom, insurance and civil aviation sectors wer
Jet already has $300 mn of ECB.
First investment by the group in aviation; deal size may be less than Rs 100 crore.
In a letter to Air India Chairman and Managing Director Rajiv Bansal, the ICPA said, "In the press conference by Honourable Minister Shri Hardeep Singh Puri dated 16th July 2020, you had stated 'we are in negotiation with the pilots', which is far from reality." "It was not a negotiation, but the 'diktat' of the MoCA (ministry of civil aviation) which was conveyed to us. We would also like to place on record that the so-called negotiation was 'not harmonious' in any aspect," the Indian Commercial Pilots' Association (ICPA) noted.
As the global aviation sector slowly recuperates from the aftermath of 9/11 terrorist attack and the SARS menace, competition between traditional rivals Airbus and Boeing is hotting up. Take the Rediff Business
Steven S Reinemund, Chairman and CEO, Pepsi, said though there were bottlenecks, India had the best managerial talent and was comparable with any other developed country.
'This is a huge step in promoting the 'Make in India' mission as this bio-fuel would be produced from Tree Borne Oils sourced from tribal areas and farmers.'
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
Rising fuel prices, intense competition and inability to pass on spiralling expenses have been negatively impacting the domestic airlines.
