New Delhi: Eying a healthy share in domestic market in the upcoming festive season, Air India has launched an advance purchase fare scheme which will give fliers tickets at a price 15 per cent lower than available cheapest fares. "The advance purchase fare - called Jaldi-Jaldi - will be sold for travel commencing 30 days and beyond, and is lower by about 15 per cent of the current lowest fares...
10:24 PM, Sep 20, 2012
Washington: The US will stand with India as a partner as it undertakes "difficult but necessary" reforms, a top White House official said on Tuesday. "We took note of these recent steps. As the President said, we continue to believe in the promise of India and we'll be there as a partner as India makes difficult but necessary reforms," Caitlin M Hayden, deputy spokesperson, National Security Council at the White...
10:06 PM, Sep 18, 2012
New Delhi: Days after diesel rates were hiked by a steep Rs 5.63 per litre, Jet Fuel price was on Saturday raised by about 2 per cent to Rs 73,711 per kilolitre. Saturday's increase in aviation turbine fuel (ATF), or jet fuel, price comes on the back of the biggest ever hike in rates effected from 1st of this month. ATF at T3 terminal in Delhi has been hiked by...
07:34 PM, Sep 15, 2012
New York: Leading US dailies have described India's decision to allow FDI in multi-brand retail and aviation as "biggest economic reforms" in two decades, while apprehending these proposals pose a "big political risk" for the Prime Minister Manmohan Singh-led UPA government. 'The New York Times' said Singh's Congress-led government is "under heavy pressure to kick-start India's slowing economy, boost employment and improve the country s shambolic infrastructure" and allowing major...
11:39 AM, Sep 15, 2012
New Delhi: The decision to bring in FDI in aviation got a rather lukewarm response. While cash strapped Kingfisher airlines welcome it and their morale is up for now, several foreign players were more circumspect. But the big question who will invest in Indian carriers with struggling finances? Sources at Kingfisher airlines tell CNN-IBN that talks with either Qatar or Etihad airlines will now resume. Kingfisher reported losses of over...
06:29 AM, Sep 15, 2012
New Delhi: India's ailing Kingfisher Airlines(KING.NS), hungry for funds, said on Friday it will now be able to re-engage with prospective investors in a "more meaningful manner," after the government allowed foreign carriers to invest in local airlines. The fortunes of Kingfisher, saddled with $1.4 billion in debt, hang on its ability to raise funds soon. It needs at least $500 million immediately to keep operating, according to the Centre...
01:57 AM, Sep 15, 2012
New Delhi: The Manmohan Singh Administration has made a crucial change in a key requirement for allowing a foreign company to start a fully-owned single-brand retail business in India. When the government had cleared 100 per cent Foreign Direct Investment (FDI) in single-brand retail earlier, it had stipulated that 30 per cent of the value of the products being sold must be sourced from small and medium industries in India....
10:53 PM, Sep 14, 2012
Mumbai: Private airline companies on Friday welcomed the much-awaited policy change ushering in foreign direct investment by overseas carriers, saying the policy will give a big boost to the ailing sector. "The FDI in airlines will open up a wide range of opportunities for both domestic as well as foreign carriers which wish to participate in the strong growth potential for civil aviation in our country," Vijay Mallya-owned Kingfisher Airlines...
09:52 PM, Sep 14, 2012
New Delhi: In the boldest decision taken by Prime Minister Manmohan Singh in UPA-II, the government has bet big on crucial reforms that are bound to bring a big cheer from industry. However, the move has also put the government in troubled water politically with the Opposition and some key allies voicing strong differences. Just like Manmohan Singh had put the survival of his government at stake over the Indo-US...
09:30 PM, Sep 14, 2012
New Delhi: The Government's decision on Friday to allow up to 51 per cent foreign direct investment in multi-brand retail comes with a clever move to diffuse potential opposition from UPA allies. The new policy clearly says that each state government has the right to decide whether to implement the policy or not. For those of the UPA allies who are in power in the states " most notably, Mamata...
08:54 PM, Sep 14, 2012
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08:25 PM, Sep 14, 2012
New Delhi: In a big bang economic push, the government on Thursday approved 51 per cent foreign direct investment (FDI) in multi-brand retail. The government, however, left the option on the states to invite multi-brand retails. Here is the full text of the decision taken by the government at the Cabinet Committee on Economic Affairs meeting: Permitting FDI in multi-brand product retail trading The Cabinet has approved the proposal of...
07:03 PM, Sep 14, 2012
New Delhi: In a major decision signalling the end of policy paralysis in the UPA government, the Cabinet Committee of Economic Affairs (CCEA) on Thursday accepted 51 per cent foreign direct investment (FDI) in multi-brand retail. The government has, however, left the option to invite multi-brand retail on the states. There is an opt out clause in the FDI in multi-brand retail, which has been the most contagious of the...
05:57 PM, Sep 14, 2012
New Delhi: Notwithstanding resistance by allies, the Centre is likely to allow investment by foreign airlines in Indian aviation industry which could benefit troubled companies like Kingfisher, Spicejet and Go Air. Gulf-based carriers like Emirates could be the first foreign airlines to enter the Indian aviation sector. Sources say that the government could also hike FDI limit in broadcasting, insurance and pension sectors. The government might let the states take...
04:49 PM, Sep 14, 2012
New Delhi: After months of dithering, the government could finally clear Foreign Direct Investment (FDI) in aviation when the Cabinet committee on economic affairs meets on Friday. Aviation sector in India has not being doing well. Several airlines like the Vijay Mallya-owned Kingfisher Airlines are struggling but that doesn't mean that there is no demand. The carriers in the Middle East like Qatar and Emirates understand the dynamics of the...
07:29 AM, Sep 14, 2012
New Delhi: The government is getting ready to push for FDI in aviation with sources confirming that Trinamool Congress chief Mamata Banerjee has agreed to the proposal. Cabinet Committee on Economic Affairs is likely to discuss and clear FDI in aviation on Friday. The proposal will be sent to the Cabinet for approval some time in next week. Sources add that Air India is likely to be excluded from the...
01:32 PM, Sep 13, 2012
New Delhi: An inquiry was ordered after a Lieutenant Colonel of the Indian Army filed a complaint that explicit photographs and videos of his wife were uploaded on the Internet by a serving Major. The inquiry is being headed by a Brigadier. Both the Lieutenant Colonel and the Major are presently serving in Army Aviation Corps in Bhatinda. If sources in the Army are to be believed, this is a...
10:14 AM, Sep 07, 2012
New Delhi: Air travel has become costlier with major Indian carriers hiking fuel surcharge on tickets, ranging from Rs 150 to Rs 250 for domestic travel and $15 (Rs 825) for a one-way international ticket, following an almost eight per cent increase in jet fuel prices. While Air India introduced the increased fuel surcharge on Tuesday itself, Jet Airways and its subsidiary JetKonnect would raise it from Wednesday, officials of...
11:02 PM, Sep 04, 2012
New Delhi: Jet fuel price was on Friday hiked by a steep 7.6 per cent, the biggest ever increase that took ATF price to all-time high of Rs 72,282 per kilolitre. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 5,146.16 per kilolitre (kl), or 7.6 per cent, to Rs 72,281.92 per kl with effect from midnight tonight, Indian Oil Corp, the nation's...
08:17 PM, Aug 31, 2012
New Delhi: India's civil aviation sector was the worst performer globally in July as the domestic passenger traffic contracted 1.1 per cent year-on-year, the International Air Transport Association (IATA) said on Thursday. "After expanding at 20 per cent plus rates through 2010 and early 2011, the Indian market stopped growing at the end of 2011," IATA said, adding that the contraction was due to a combination of many factors, including...
05:21 PM, Aug 30, 2012
