Aviation stocks - Jet Airways, Deccan Aviation, SpiceJet and Jagson Airlines - closed at their 52-week highs on the Bombay Stock Exchange on Tuesday in falling market. All the four stocks gained between 5 per cent and 20 per cent on Tuesday.
The airlines were penalised for 'concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.'
Aiming at attracting Indian travellers to major global and domestic destinations, foreign and Indian carriers are vying with each other by offering discounted tickets.
At the end of September quarter, Tail Winds held 68,15,843 shares, equivalent to 7.89 per cent holding, of Jet Airways.
These additional flights will complement the daily flight being operated between the two destinations by the airline, according to a press release.
Domestic equity markets are likely to see volatility in a range-bound trade this week amid geopolitical worries and growing expectations of a sharp hike in interest rates, analysts said. Global trends, inflation data and the last batch of quarterly earnings will drive the markets this week, they said. Besides, the rupee movement, FII investment pattern and Brent crude trends would also be watched by investors.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
Jet Airways Chairman Naresh Goyal will purchase over one per cent stake in the airline from another promoter entity, Tail Winds, for up to Rs 45 crore (Rs 450 million).
The Air India plane had been cleared to land at the runway by the ATC, while at the same time a Jet Airways flight was also preparing to take off from the same airstrip.
Over 70 per cent of Jet's fleet has been grounded, leading to massive cancellations.
Oriental Insurance Company Ltd hopes to bag the Air Sahara insurance business after its merger with Jet Airways.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
JetLite was created in 2007, following the takeover of Air Sahara in April 2007.
Get special international return fares on Jet Airways, Air India and Kuwait Airways.
In the audio clip, he is heard directing the attack on Chabad House during Mumbai 26/11 terror attacks.
Airline to increase full-service flights as Kingfisher curtails operations.
An executive of a private airline said even though volume picked up, it will be difficult for airlines to make money as fares have remained low even during festive season.
Fourteen pilots and 31 cabin crew members have been found reporting for duty under the influence of alcohol till March this year, Civil Aviation Minister Ajit Singh said on Wednesday.
Debt-ridden national carrier Air India tops a brand reputation survey.
Jet Airways (India) termed the allegation made by Nancy Heckerman of US-based aviation outfit that money raised by Jet through public offer was pumped into the market through the 'hawala' route as "baseless".
Jet Airways has filed an additional document in response to the objections raised against its proposal to start flight operations to the US later this month by an American company.
Jet Airways will reward passengers who book tickets on the airline's Web site www.jetairways.com.
Jet Airways and Kingfisher have shown interest to operate in the proposed airport in the industrial belt of Asansol-Durgapur region of West Bengal, Subrata Paul, chief executive officer of Bengal Aerotropolis Projects (BAPL) which is setting up the 10,000-crore airport city project, said.
All Indian carriers flew 60.22 lakh (6.02 million) passengers in May compared to 57.10 lakh (5.71 million) in April, while the January-May figure stood at 267.22 lakh (Rs 2.67 million) as against 260 lakh (2.6 million) in the same period last year recording a 2.78 per cent growth, latest official air traffic data showed.
The no-frills brand is poised for a big leap by debuting in some international routes as well.
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
The Bombay High Court on Monday upheld its earlier order which had ruled that Jet Airways was liable to pay the renegotiated amount of Rs 1,450 crore (Rs 14.50 billion) instead of the original determined price of Rs 2,000 crore for the purchase of Sahara Airlines (now Jetlite) in 2007.
Etihad last year picked up 24 per cent stake in Jet Airways
Airport sources said the Delhi-bound Jet Airways plane was taxiing on the runway at 0840 hrs when it stopped at the end moment. At the same time, the Chennai-bound Air India flight from Delhi was given landing permission by the Air Traffic Control (ATC).
The government on Monday allowed privately-owned Jet Airways and Air Sahara to fly to the Association of South East Asian Nations and raised the seat capacity of Indian Airlines and Air-India to these destinations.\n\n
Or else customers will face capacity shortages and high fares.
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