This is the first time that petrol sales in the world's third-largest oil importer have risen since the March 25 nationwide lockdown crippled economic activity and sent demand plummeting.
Currency depreciation also hits earnings of all domestic carriers
During the January-July period, passenger growth jumped 21.13 per cent to 455.78 lakh.
At a meeting with airline chief executive officers and top officials here, the Civil Aviation Ministry also decided to amend Aircraft Act and Rules to safeguard the interests of aircraft leasing companies, many of which have started imposing stringent conditions for leasing planes to Indian carriers in the aftermath of Kingfisher Airlines shutting down.
Jet Airways on Thursday said it would introduce more flights on both its domestic and international networks.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
Largest low-cost airline posted an 18 per cent growth in net profits.
The alliance, announced in a late night press conference on Monday, will involve code-sharing on domestic and international flights, an interline agreement, joint fuel management, common ground-handling services and cross-selling flights through the global ticketing system.
Following on the footsteps of Indian Airlines, two leading private carriers Jet Airways and Air Sahara on Monday announced increase in fares in all sectors by 12 per cent from April 15.
The Forbes magazine had adjudged Maran as the 38th richest man in India, with a net worth of $2.3 billion (as of September).
SpiceJet is having tough times due to a huge financial crunch.
Naresh Goyal only gave an undertaking not to sell any of his 51% stake in return for raising working capital debt from PNB.
A consortium led by Ajay Singh is initially expected to invest Rs 1,200 cr, largely to cover liabilities.
Analysts expect holiday fares to inch up further closer to the travel dates, but airlines may still not be able to fully recover higher costs as fuel costs remain elevated
Incidents stark reminders of problems that have hit Dreamliner since July, prompting federal regulators to call for engine and fuel line inspections
Following in the footsteps of Indian Airlines, Jet Airways on Friday announced a $5 fuel surcharge on all international flights originating from India.
India must address issues that are plaguing its aviation sector.
Spicejet has consolidated its base fare by including fuel surcharge in it.
Airline pares capacity on routes like Mumbai-Delhi and Mumbai-Bengaluru on weekends, uses freed up slot at Mumbai to fly Amritsar, Patna, Varanasi
If oil prices continue as they are and we can cut costs, we'll be able to break even in the next financial quarter, says Singh.
Earlier, PE firms such as Goldman Sachs and Indigo Partners had evinced interest in the Indian aviation market.
A financial turnaround with the Etihad partnership and debt restructuring has not fully materialised.
Auditors raise red flags over Jet Air's robust financial status.
Taking on competition from no-frill carriers, Jet Airways on Saturday launched a week-long sale of seven lakh low-fare domestic air tickets to attract air travellers who could use them to fly from August 10 onwards.
Airlines will report losses in FY16 but 35% less Y-o-Y
The Directorate of Revenue Intelligence has booked cases at Mumbai and Delhi against private airlines Jet Airways and Air Sahara for non-payment of customs duty, the Lok Sabha was informed on Friday.
An airfare regulatory authority likely soon.
We are only 9-10 months into the turnaround exercise: Maran
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The rise in US bond yields spooked investors last week and there could a further increase given the inflation dynamics, according to Christopher Wood, global head of equity strategy at Jefferies. "The US bond market sell-off has continued over the past week, and with it the increased potential for an inflation scare. "Still, there is plenty of scope for bonds to sell off more since the last time the 5-year forward inflation expectation rate was running at current levels (namely in early December 2018), the 10- and 30-year bond yields were significantly higher at 2.91 per cent and 3.17 per cent, respectively," the market guru said in his newsletter GREED & fear. The 10-year and 30-year US Treasury finished at 1.34 per cent and 2.13 per cent, respectively, last week.
Air India Flight 136, bound for Delhi via Frankfurt, took off at 2033 local time (1003 IST) and blew at least one of the tyres
SpiceJet had last year announced a $4.4-bn deal for 42 Boeing 737 Max.
Jet Airways (India) Ltd hopes to minimise the impact of a sharp rupee depreciation by growing its international network over the next few months.
Jet Airways' loss widened for FY15 on higher cost.
Lessor market sources said with the fuel prices remaining high, IndiGo would get better rates for the fuel-efficient A320neos.
While we navigate the challenges posed by the current industry environment, our focus and attention remains on safety and operational reliability, said chief executive Vinay Dube.
In a much-needed relief to cash-strapped airlines, this is the second straight monthly reduction in rates and the biggest single cut ever.
The outer structure of Navi Mumbai International Airport's first terminal building is almost ready. Exactly behind the under-construction building, stands a partially demolished hill. Executives from the airport company are now hopeful the hill will be flattened by mid-January, paving the way for the first commercial take-off by December next year.
The government is considering a ban on export of kerosene oil (jet kero) and aviation turbine fuel (ATF), which are similar to kerosene, to boost supplies of kerosene for public distribution system.
