The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
A total of 17 pilots of Air India, IndiGo and Vistara died due to COVID-19 in May when the country saw the peak of the coronavirus pandemic's second wave, sources said on Thursday.
Budget carrier IndiGo continued to be the largest player with a market share of 46.9 per cent ferrying 54 lakh passengers in March.
In his petition, Kamra said he was banned by IndiGo for a six-month period before its internal committee even arrived at a decision while other airlines -- Air India, Spicejet and GoAir -- imposed an indefinite ban on him.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The team reached Dubai on Saturday after being held up for over two hours in the flight, of which close to one hour was mid air
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
Some maturity needs to come to the rationalisation of the fares for the sector to succeed.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
Market estimates suggest the airline has already totted up Rs 1,800 crore of losses in FY20, and FY21 is expected to see losses in the region of Rs 2,500 crore to Rs 3,000 crore Many in the sector say that Vistara lacks the light-footedness of the airlines with which it competes, reports Anjuli Bhargava.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A free and open aviation market, where the government keeps the interest of consumers higher than saving any airline.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
The man was reissued the ticket and allowed to board the flight once the airline staff at the Jaipur airport realised that he is not the comedian who is on the no-fly list of four airlines, including Air India.
Uttam Ghosh offers his take on the decisions of airlines banning stand-up comedian Kunal Kamra for his alleged heckling television journalist Arnab Goswami aboard a flight on Tuesday.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
Three passengers who travelled on Delhi-Jammu flight on Tuesday, six passengers who were on Bengaluru-Coimbatore flight on Wednesday, two passengers who were on Delhi-Coimbatore flight on Wednesday and one passenger who was on Bengaluru-Madurai flight on Wednesday tested positive for the novel coronavirus, the airline said.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
SpiceJet says tickets in three day sale will be 75 per cent lower than last minute purchase fares.
A senior DGCA official said 23,403 departures per week have been finalised, covering 103 airports, which is 1.2 per cent higher than the 23,117 operated during the previous winter schedule.
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
'Everyone says never waste a crisis.' 'When we went into Covid and we were in total lockdown, we were at work.' 'The planes were not flying and we wondered what to do.' 'We looked at each of our performance metrics -- what are customers complaining about, how do employees feel, how do investors feel?'
Though India's airlines are certainly bleeding, they haven't yet faced the ignominy of shutting down.
Air India operates six flights each week, SpiceJet flies on three days to Kabul.
The move if implemented, will be a temporary measure to protect both consumers and airlines. A section of airline executives and experts, however, warned that any intervention in pricing would be counterproductive.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
Govt may grant infrastructure status to the aviation industry to enable it to access finances at cheaper rates
Jet is the largest player in the Mumbai airport, with over 110 domestic slots and 30 international slots from the city.
When Jet Airways shut operations, the slots which were allocated to it were temporarily distributed among various airlines. And, the airlines that were called upon to immediately create infrastructure so that the public at large does not face any hardship have invested huge amounts of money to created infrastructure to utilise such slots. "In view of this, though the allocation of slots to such airlines is temporary the same can't be withdrawn from them without any legitimate basis.", the affidavit said.
The car was expected to have a price tag of Rs 10 lakh and launch was slated for this June.
A 2019 investigation of Bombay Dyeing by market regulator Sebi has put a brake on the initial public offering process of sister company Go Air. The Wadia group-owned low cost airline had earlier planned to launch the IPO to raise Rs 3,600 crore by August, but may be forced to postpone it by a month or two as Sebi completes its investigation.
The company is offering a million tickets at 25% discount, valid for travel between June 15-October 15
On a busy corporate route like Delhi-Mumbai, hand luggage fare can be cheaper by at least Rs 500-Rs 800.
Virgin Atlantic plans to operate three flights a week from Delhi to London's Heathrow from September 2, while Mumbai services are planned to re-commence from September 17 with four flights per week. Both the destinations will provide connections to New York JFK and will operate on 787-9 Dreamliner.
Mumbai International Airport Ltd (MIAL), the private airport operator, had earlier announced that all operations at the CSMIA will remain suspended between 2.30 pm and 7 pm as a precautionary measure in view of the cyclone Nisarga.
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