Thanks to a big payout by the group's cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group's listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22. Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.
Cheering the move, shares of Jet opened the day on a bullish note and further jumped 7.26 per cent to Rs 414.70 on the Bombay Stock Exchange.
A comparison shows that for Delhi to Mumbai air travel, the lowest airfare price is in the range of Rs 2,755, while the surged price for second-AC comes at Rs 4,104, a 42 per cent increase from the current train fares
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
Green light likely for services on underserved routes between regular airports
UDAN demonstrates that good policy-making can fulfill important public requirements without requiring budgetary support, says MoS for civil aviation Jayant Sinha.
The government must send out a clear signal that leadership positions at regulatory bodies are not a preserve of retired government officials, argues A K Bhattacharya.
After attacking the Jet-Etihad deal, Janata Party President Subramanian Swamy on Wednesday trained his guns on the Air Asia proposal to set up an Indian carrier, saying the FIPB clearance to it was "not legally valid".
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
A look at the Kalanithi Maran-controlled airline's place in the domestic aviation sector
If all goes well, from December, drones can be used for purpose like mapping, surveying and photography, which till now was illegal due to absence of any guidelines.
"I want to clarify one thing that the BJP is not going to take the support of Kanda," he told reporters in Chandigarh.
We live in hope that India and its airlines might finally grow up, notes Anuli Bhargava.
no flight will depart or arrive at the Kolkata airport between 9.30 pm of May 3 and 6 pm of May 4
DGCA had earlier directed all airlines not to charge anything extra from passengers from Srinagar and Jammu.
"We are waiting for any input from any quarter," Civil Aviation Secretary R N Choubey said, adding, "We have not received anything so far".
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
The flight from Dubai with 190 people, including a six-member crew, overshot the tabletop runway during landing at the Kozhikode airport in heavy rain on Friday, killing 18 people, including both the pilots.
The European Commission will propose scrapping tariffs on jet fuel imports starting January 1, an official said on Friday.
Civil aviation ministry to monitor flash sales and discount schemes: Source
The airlines were penalised for 'concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.'
Alliance Air, which is the largest regional airline, is currently operating 77 daily flights compared to 126 last year.
The Indian Air Force will induct the indigenous HTT 40 basic trainers in "large numbers", which will boost the domestic capability although it was earlier keen for a Swiss aircraft.
Union Home Minister Amit Shah on Sunday took a swipe at the Congress and the Dravida Munnetra Kazhagam over dynasty politics and alleged corruption, calling them "2G, 3G, 4G" parties and said the time has come in Tamil Nadu to throw away these and give the power to a "son of the soil".
CCI's ruling came on a complaint filed by Express Industry Council of India.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
India's domestic aviation market has clocked a growth rate of 22 per cent in the last one year.
Air India, which this year preferred a consortium of private sector players led by Reliance General, had in fact started feeling the heat even before the crash took place.
The full-service airline has faced multiple challenges in its run.
In June IndiGo had implemented a mandatory leave without pay program for 1.5 days to 5 days. Subsequently, in July, IndiGo announced 5.5 additional days of LWP for its pilots, taking the effective number of LWP to 10 days. As cost cutting measure, the airline had also let go of 10 per cent of its employees and implemented a pay cut across the board.
The initial speculation over who is likely to down shutters seems to have given way to a resigned acceptance that all the players are determined to stay in the game.
'Air India's privatisation is acceptable as long as its control does not pass on to a foreign entity,' says A K Bhattacharya.
In a first of its kind move, the Indian Railways Catering and Tourism Corporation (IRCTC), the ticket booking arm of the Indian Railways, is looking to monetise its bank of passenger data while conducting business with private and government companies. IRCTC has a large bank of data related to every online railway ticket ever generated as it is the country's only railway ticketing platform, an IRCTC official told Business Standard. The public sector undertaking, which has sought the services of a consultant to assist with the monetisation process, plans to raise Rs 1,000 crore through this exercise.
Apart from the Adani group, the Tata group, the Hinduja group, Indigo and a New York-based fund, Interups, are expected to submit EoIs.
Along with IAF officials, the AAIB will also reach out to experienced private sector executives, meteorologists, and aviation psychologists to be part of the probe.
Agra, Shimla, Nanded, Kanpur and Jamshedpur are among the many airports that would see connectivity under Udan.
Domestic airlines may increase foreign flight frequencies
Carriers' input costs are rising due to weak rupee and rising crude oil price.
'With Ramaland, the tourism department is looking to attract children and adults alike. It'll be learning with entertainment.'
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
