SpiceJet's resurgence, once the new funding is in place, has the potential to disrupt the Indian aviation market in 2024 as the airline will bring its grounded aircraft back to service and lease as many planes as possible to be competitively relevant, aviation consultancy firm Capa India said on Thursday. "Although the market for procuring aircraft in 2024 is exceptionally tight, we expect that SpiceJet will bring stored aircraft back into operations, and will wet or dry lease as much capacity as possible, in order to be competitively relevant. "This will have a material impact on the industry structure, and possibly on domestic profitability," Capa India said in its report.
The country's largest airline IndiGo on Thursday reported more than doubling of its net profit to Rs 1,894.8 crore in the three months ended March 2024 and announced the introduction of business class in select routes this year. The strong performance in the latest March quarter, which also marks six consecutive quarters of profitability, was fuelled by higher traffic, increased capacity and a favourable external environment.
The Himachal high court on Wednesday directed the government to maintain status quo in respect of the land leased to Patanjali Yoga Peeth of Baba Ramdev which was taken over by the government on February 22.
Development authority said to have passed Taj's file to Delhi lieutenant governor for approval.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
The National Company Law Tribunal (NCLT) on Tuesday questioned the maintainability of the insolvency plea filed against air carrier SpiceJet by one of its operational creditors Willis Lease Finance Corporation. A two-member NCLT bench comprising Members Mahendra Khandelwal and Rahul Prasad Bhatnagar observed that Willis Lease Finance Corporation has withdrawn its insolvency plea for the same dispute in March 2023 and has approached again with a new plea. The bench wanted to know as Willis Lease Finance Corporation, an aircraft lessor, had filed again for a similar cause of action within a few months.
The deal for 800,000-square foot plot in Gurgaon's Infospace Tikri SEZ is likely to improve real estate absorption rate, which has seen some upside recently.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
The company estimates a Rs 350-400-crore (Rs 3.5-4 billion) revenue potential from the telecom business in the next 4-5 years.
Consumers are unlikely to disconnect their mobile connections and will most likely absorb the up to 22 per cent tariff hike imposed last week by Jio, Airtel, and Vodafone Idea (Vi), according to analysts. The last major tariff hike in 2021 was followed by a 4-5 per cent SIM consolidation, with people leaving mobile operators with more expensive plans for their peers offering comparatively affordable options.
The company has similar pact with Bharti Infratel.
The ailing national carrier had invited requests for quote to lease out these wide-body Boeing 777s last November in its bid to mop up some additional funds amidst huge financial losses.
The 'aura of invincibility' around Prime Minister Narendra Modi has been 'shattered' by the Indian voters who gave the Opposition a new lease on life, this is how the international media described the outcome of India's general elections.
The top court said it cannot order a roving inquiry into purchase of electoral bonds on the assumption that it was quid pro quo for award of contract.
Polaris Software Lab Ltd and Germany-based Deutsche Leasing group entered into a partnership for product based solutions.
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
As part of efforts to strengthen Indo-Pak trade ties, Railways is mulling to provide 50 diesel locomotives on hiring basis to Pakistan.
Indian Airlines has floated tenders to lease 12 wide-bodied aircraft to launch new foreign operations, while its subsidiary Alliance Air would lease two business jets for operations of oil major ONGC.
If you have moved into a new city and are in search of a rented accommodation, here's what you must know.
Civil Aviation Minister Praful Patel on Thursday said he would request the finance ministry for extending tax exemption on leased aircraft, scheduled to be implemented from April 1, 2005.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
While the Army will be getting around 100 light utility helicopters, it is also looking at the option of taking choppers on lease to meet its requirement.
The Delhi high court on Friday directed the civil aviation regulator to deregister planes leased to Go First within five working days, giving respite to the lessors. This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask for a stay. Justice Tara Vitasta Ganju also refused the request of the RP, represented by advocate Diwakar Maheshwari, to keep the operation of the order in abeyance for a week to enable them to file an appeal before the division Bench of the court.
Lakshya Sen mounted a remarkable comeback to become the first male Indian shuttler to qualify for the singles semi-finals at the Olympic Games.
The government is considering a proposal to allow Alliance Air, a subsidiary of Indian Airlines, to lease new aircraft to replace its ageing fleet, Minister of State for Civil Aviation Rajiv Pratap Rudy said on Monday.
Insolvency tribunal NCLT on Wednesday rejected Go First lessors' petitions to take back the planes leased to the grounded airline, and said the aircraft are available for resumption of operations since aviation regulator DGCA has not deregistered them. A two-member bench of the National Company Law Tribunal (NCLT) held that physical possession of the aircraft/engines would be "indisputably" with Go First and lessors cannot claim possession during the Corporate Insolvency Resolution Process (CIRP) of the carrier. According to the tribunal, aircraft and its engines are the sole essence of Go First's business and if taken away, it would result in its "corporate death" leaving no scope for its resolution.
Indian ace Manika Batra's impressive run in the Paris Olympics came to an end in Paris on Wednesday with a 1-4 defeat at the hands of higher-ranked Japanese Miu Hirano in the women's singles pre-quarterfinals.
IndiGo share price today: IndiGo share price fell as much as 4.8 per cent to a low of Rs 4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post a its April-June quarter (Q1) results for financial year 2024-25 (FY25). The stock ended 1.36 per cent lower at Rs 4,430 as against a 23-points gain in the benchmark BSE Sensex. The selling also got exacerbated as the management commentary, post Q1FY25 results, highlighted that inflationary pressure could likely dent July-September (Q2FY25) performance.
Air-India has taken two Airbus A310=300 aircraft from the Kuwait-based ALAFCO Aviation Lease and Finance Company on operating lease for a period of three years.
A bench comprising Justices Sanjiv Khanna and Dipankar Datta took note of the submissions of lawyer Prashant Bhushan, appearing for NGOs 'Common Cause' and the Centre for Public Interest Litigation, that the plea needed to be listed for hearing at the earliest.
Helicopters are anticipated to be more in demand compared to fixed-wing aircraft as choppers will help in providing accessibility to rural and remote areas in a shorter time.
Dutch financial major ABN Amro will sell its fleet management arm LeasePlan Corporation, which has operations in India and 25 other countries, to Volkswagen and two other companies for 2.13 billion euro.
According to the lease agreement between Tata Motors and the West Bengal Industrial Development Corporation, the lessor will have the option to terminate the lease if the land has not been used for three years or more, which will kick-in from October 2011. Tata Motors had pulled out of the Nano project in October 2008.
This is the third time this month that the national carrier has invited bids for leasing out aircraft.
'...there is every possibility that Shreyas will travel for the three-match ODI series in Sri Lanka. The last ODI that India played was in South Africa and he scored a half-century (52). He had 500 plus runs (530) in the World Cup and averages just around 50. Can you drop him?'
