New Delhi: Major foreign airlines seem to have adopted a wait-and-watch approach over the government's decision to allow them to pick up 49 per cent stake in Indian carriers, even though the government says the mood in the industry was upbeat. Air India has been kept out of the ambit of this major policy announcement, but there have been reports about a couple of Indian carriers holding preliminary discussions with...
11:47 AM, Sep 23, 2012
New Delhi: Civil Aviation Minister Ajit Singh on Friday said the government's open-sky policy for foreign investment in domestic airlines has positively affected sentiments in the aviation industry, but it is too early to say how much investment the sector would attract. "The sector is going through difficult times and is facing financial stress due to the overall economic slowdown. But the mood is upbeat now after we (government) allowed...
02:10 AM, Sep 22, 2012
Singapore: A plan to buy 100 Airbus aircraft will be submitted to the board of Asia's largest budget carrier, AirAsia Bhd, in about two weeks, the airline's CEO, Tony Fernandes, said on Friday, in a deal that could be worth $9 billion. He also said he had no immediate plans to enter the Indian market because he thought the aviation fuel tax and airport charges were still too high. Reuters...
12:40 AM, Sep 22, 2012
New Delhi: The Supreme Court on Friday issued a notice to the Centre after a public interest litigation (PIL) seeking a probe against the Aviation Ministry was filed. The PIL sought a CBI probe into the functioning of the Ministry during the tenure of Praful Patel as the Civil Aviation Minister in UPA-I government. The PIL raised questions about the purchase of aircraft by the Ministry during Praful's tenure, alleging...
11:52 AM, Sep 21, 2012
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
Reacting to the the Government's decision to introduce FDI in aviation, Air India's former executive director Jitendra Bhargava has said it needs to first address the concerns of the industry rather than worrying about profit. ...
12:14 PM, Sep 17, 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
Unveiling the 12th Five Year Plan on Saturday, Prime Minister Manmohan Singh defended the diesel price hike. ...
11:50 AM, 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
The government went into an overdrive on Friday clearing contentious issues like FDI in multi-brand retail and aviation in one go. ...
07:30 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
The UPA clears a slew of major pending reform proposals, including FDI in multi-brand retail, aviation, broadcasting and power exchanges. ...
11:56 PM, Sep 14, 2012
The government clears a slew of major pending reform proposals, including the politically contentious 51 per cent FDI in multi-brand retail. ...
11:39 PM, Sep 14, 2012
The government cleared 51 per cent FDI in multi-brand retail, but left it to states to decide if they want to allow it. ...
10:57 PM, Sep 14, 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
