In a major victory for government-owned Air India, the airline won an arbitration case against US-based air charter company Dynamic International Airways, putting an end to a more than three-year-old legal tussle between the two parties. The order given by arbitrator, former Comptroller and Auditor General P Sesh Kumar will require the US-based charter operator to pay an amount of around Rs 65.71 crore to the national airline.
As many as five sectors including defence, ports and coal have failed to attract any foreign direct investments during the April-December period of the current financial year, Parliament was informed on Monday.
The finance ministry is unlikely to sign on to the proposal for a ‘bad (debt) bank’, going by its response to some of the line ministries on similar proposals.
Buoyed by orders from entities in this country, European aircraft maker Airbus is opening a pilot training centre here. Work on this was inaugurated on Friday at a site which is part of the international airport; it will be operational by the end of 2018
Nearly 17 per cent of the total routes operated by Air India are loss-making, the government said on Thursday.
Defending itself against the criticism of the Comptroller and Auditor General (CAG), Air India has defended the sale of five Boeing 777-200 LR planes to Etihad, saying it was the best option to check loss and reduce debt.
Etihad Airways is stopping its Airbus A380 service to Mumbai from July 1 owing to the low demand for premium service in the market.
The Congress Party complains a bit too much. It accused the Bharatiya Janata Party (BJP) of ‘stealing’ the mandate in Goa.
Parliament’s Standing Committee on Defence reveals in a new report released on Thursday that the United States has been India’s biggest supplier of weapons platforms over the past three years.
Finance Minister Arun Jaitley will hold additional charge of the defence ministry, the government announced on Monday