Mumbai: Despite a marginal improvement in the seat factor, national carrier Air India (AI) has lost its market share in April, helping low-cost airline SpiceJet to become the third-largest airline in the month with a market share of 17.7 per cent, according to the latest data from the sectoral regulator DGCA. The fall in the market share of AI is significant as the national carrier has seen an improvement in...
10:33 PM, May 18, 2012
New Delhi: The government is expected to soon take a view on the proposal of allowing foreign airlines to buy stakes in domestic carriers as the Industry Ministry has moved the final Cabinet note on the matter. "We have moved the Cabinet note...it is work in progress," Commerce and Industry Minister Anand Sharma told reporters. According to sources, before the proposal is taken up by the Cabinet, Prime Minister Manmohan...
05:23 PM, May 18, 2012
New Delhi: Thousands of passengers across the country are left stranded as Air India and Kingfisher Airlines are forced to cancel flights following a strike by pilots. National carrier Air India on Thursday stopped bookings on international sectors and cancelled as many as 21 domestic flights. The Air India management also sacked nine more pilots, taking the total number of axed pilots to 45. The management of the national carrier...
09:44 PM, May 10, 2012
New Delhi: Union Civil Aviation Minister Ajit Singh on Thursday met Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee to discuss foreign direct investment (FDI) in aviation sector. According to sources, the government is likely to bring the issue of FDI in aviation to the Union Cabinet by the end of May. The government is also likely to reach out to its allies, including Trinamool Congress chief Mamata Banerjee,...
05:30 PM, Apr 19, 2012
New Delhi: Terming the aviation sector as the 'real World Wide Web', a study has said it is currently contributing Rs 33,000 crore or 0.5 per cent of India's GDP and supporting 1.7 million jobs in the country, besides creating much-needed critical assets. The study, conducted by Oxford Economics for the International Air Transport Association (IATA) recently, says aviation not only provided significant economic benefits to the Indian economy and...
11:30 AM, Apr 01, 2012
New Delhi: The Indian airline industry on Friday got a major relief with the government allowing it to raise capital through external borrowings worth $1 billion for a year, as it planned to allocate Rs 4,000 crore to ailing Air India. In a bid to encourage the nascent maintenance, repair and overhaul (MRO) sector, it also proposed to allow full exemption from customs duty and countervailing duty to aircraft spares,...
03:04 PM, Mar 16, 2012
Mumbai: The financial trouble plaguing the aviation sector seems to have impacted the country's largest private airline Jet Airways as well, with the pilots meeting the top management on Thursday over delayed salaries. According to sources, chairman Naresh Goyal met senior pilots at his residence at Peddar Road in Mumbai on Thursday afternoon and reportedly assured them of timely payments. For the past few months, salaries have been officially delayed...
09:58 AM, Mar 09, 2012
Kingfisher has been in the throes of a deep financial crisis for quite some time now. The severity of the crisis became evident again earlier ...
04:12 PM, Feb 22, 2012
The situation seems grim, not just for Kingfisher Airlines, but for the aviation sector as a whole, what with Jet Airways and SpiceJet posting record losses. ...
04:46 PM, Feb 20, 2012
New Delhi: A Group of Ministers on Civil Aviation, headed by Union Finance Minister Pranab Mukherjee, is likely to meet on Thursday to decide on allowing foreign direct investment in the Aviation sector. On the agenda are issues like allowing foreign carriers to have a stake in domestic airlines and sales tax on jet fuel. On Tuesday, the GoM had decided to allow the airline companies to import jet fuel...
08:28 AM, Feb 09, 2012
New Delhi: Prime Minister Manmohan Singh met the chiefs of major domestic airlines to take stock of the financial health of the sector. The meeting took place on Saturday morning. sources say that four issues were discussed between the Prime Minister and the airlines chiefs which included high tax on ATF, new ground handling policy, unutilised bilateral and high airport taxes. Sources added that the Prime Minister did not assure...
02:50 PM, Nov 26, 2011
New Delhi: Prime Minister Manmohan Singh met the chiefs of major domestic airlines to take stock of the financial health of the sector. The meeting took on Saturday morning. Airlines have been complaining about high fuel cost and unreasonable taxes levied on the sector against the backdrop of the financial crisis of Kingfisher Airlines. Jet fuel prices have increased by 30 per cent since December 2010. Three major airlines -...
10:51 AM, Nov 26, 2011
New Delhi: Prime Minister Manmohan Singh will hold a meeting with the chiefs of major domestic airlines on Saturday to take stock of the financial health of the sector. Airlines have been complaining about high fuel cost and unreasonable taxes levied on the sector against the backdrop of the financial crisis of Kingfisher Airlines. Jet fuel prices have increased by 30 per cent since December 2010. Three major airlines -...
07:30 AM, Nov 26, 2011
New Delhi: There is a tussle between the Civil Aviation Ministry and Industries Ministry over the extent of allowing foreign airlines to invest in domestic carriers. Civil Aviation Ministry sources have said that they are firm on a 24 per cent cap on the extent of FDI by foreign carriers while the Industry Ministry has batted for a minimum of 26 per cent. A note by the Department of Industrial...
01:28 PM, Nov 17, 2011
Says regional centers will help speed up aviation sector growth. ...
05:34 PM, Feb 18, 2010
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