'India and China are already in a warlike situation.'
'The recent price hike would only be beneficial if the airlines continue to operate at 80 per cent airline capacity. An increase towards 90 or 100 per cent airline capacity would again add pressure to the fares as demand remains muted. Also, we are in the fourth quarter of the fiscal year which is a seasonally weaker quarter,' says an analyst.
Central Industrial Security Force chief OP Singh briefed Union Home Minister Rajnath Singh on the heightened arrangements at airports, ports and other vital installations guarded by the central force.
While the Saudi drone strike has put the focus back on anti-drone measures, caution also stems from the fact that India has a number of large oil refining assets close to India-Pakistan border.
The IAF has paid French aerospace firms Dassault and Thales about Euro 350 million for 'performance-based logistics'. This requires the vendors to ensure that 75 per cent of the Rafale fleet is combat-ready at all times, notes Ajai Shukla.
Rakesh Jhunjhunwala on Friday picked up 1.05 per cent stake in Jet Airways for Rs 50.5 crore.
Jet Air shares rally on expectations that continuing troubles at rival SpiceJet will help it gain market share.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
The airline informed the ministry that it would operate 75 planes by April-end.
South America-based Synergy Group, one of the suitors, has said slots at London's Heathrow airport are critical to the airline's operations and will decide on participating in the resolution only if it gets clarity. It also wants to form a new company with its assets, employees, and operating permit but minus all liabilities.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The PMO directed the ministry of civil aviation and the Air India to find early resolution to stalemate. Besides, the PMO told the civil aviation ministry that a lockout is not an option to resolve the issue.
'Digital Flight Data Recorder (DFDR) and Cockpit Voice Recorder (CVR) of the ill-fated aircraft have been retrieved. AAIB (Aircraft Accident Investigation Bureau) is conducting investigations,' Civil Aviation Minister Hardeep Singh Puri tweeted, as fresh questions were raised on the safety parameters of the runway.
Facing serious financial turbulence, Kingfisher Airlines has sought government help for a bailout even as it continued its flight curtailment spree for the fifth consecutive day on Friday and its stocks plummeted by over 19 per cent to an all-time low but recovered slightly later.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
SBI is the lead lender to Jet Airways, which has a debt burden of more than Rs 8,000 crore.
If you aren't living under a rock, it would be hard to miss reading or hearing about the Boeing 737 MAX aircraft being grounded by over 50 nations. For those who are in the dark or still confused about the entire episode, here's a simple FAQ on the issue and what's happening around the world.
RM took stock of progress in production of the fighter jets whose delivery to India will begin in September next year.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15 per cent.
The central government said the railways and civil aviation ministry must suspend all concessional travel on trains and flights, except for students, patients and disabled people.
Shares of Kingfisher Airlines fell for the seventh day in a row today plunging by nearly 5 per cent to hit the lower circuit limit on bourses.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
'It has taken 7-and-a-half years for this government to understand the fundamentals of economics.' 'If the prime minister wants to leave an imprint, he has to see to it that this succeeds.'
Deccan Aviation, a new entry in the domestic airlines sector, failed to take-off as its stocks experienced brisk profit selling and plunged 34 percent on the first day of trading on Monday.
Resolution professional, Ashish Chhawchharia, had informed the bankruptcy tribunal that two new investors had shown early interest for investing in Jet. One of them is a foreign investor from West Asia and the other is an Indian-entity-backed by a UK investor.
The airfares are already 15 per cent higher than last season and due to this shortage it will go higher, said Sharat Dhall, COO of Yatra.com.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
With this, the total number of aircraft taken out of operations due to cash crunch in the airline and its subsequent failure to pay rentals to various lessors has gone up to 21 so far.
The seven Indian-Americans are cybersecurity firm ZScaler CEO Jay Chaudhry, founder and chairman of Symphony Technology Group Romesh Wadhwani, cofounder and CEO of online home goods retailer Wayfair Niraj Shah, Silicon Valley venture capital firm Khosla Ventures founder Vinod Khosla, managing partner of Sherpalo Ventures Kavitark Ram Shriram, Airline veteran Rakesh Gangwal and Workday CEO and co-founder Aneel Bhusri.
IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
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.
Air India will very soon get funds from the government for its day to day operations and will even place orders for a couple of aircraft
The government is planning to liberalise the terms and conditions for the sale of the national carrier. The Centre is still pursuing the option of selling the airline's subsidiaries before the airline itself, in order to deal with an outstanding debt of around Rs 27,000 crore.
Shares of SpiceJet zoomed almost 20 per cent on Friday on expectations of revival of the distressed air carrier.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
