Airlines are likely to close the outgoing financial year with 22-23 per cent traffic growth, making it one of the best for the sector, even though the pressure on their bottom line is increasing as oil prices are on a northward-ho, says a report.
With the buzz on the privatisation of state-owned airline Air India (AI) erupting again, aviation experts say it was the right time for such a move but wondered whether investors’ would have the appetite for it or whether politically and strategically it would be the right overture.
Qatar Airways’ plans of launching a domestic airline in India may have hit an air pocket even before it took flight with Jet Airways and SpiceJet raising red flags over allowing foreign players in the domestic circuit.
Malaysian no-frills carrier AirAsia today announced discounted fares, starting as low as Rs 899 for travel within India and Rs 4,999 for international flights for a limited period.
Aviation regulator DGCA has asked airlines to disallow oversized hand baggage on flights operating to airports having operational limitations as part of safety norms.
Banks to whom embattled tycoon Vijay Mallya on Friday offered a negotiated one-time settlement of their dues want him to spell out how much he is ready to pay up.
The aviation secretary has sought help from the Prime Minister’s Office to reduce the time to get security clearance for its proposals, a clear indication of growing frustration within the ministry over its plans getting stuck at the home ministry.
In an interesting development, the Union Cabinet recently approved a plan to spend Rs 4,500 crore to develop and upgrade 50 under-served or un-served airports and airstrips in order to boosting regional air connectivity (RAC) scheme, called UDAN .
Air India reported an operating loss of ₹321 crore during fiscal 2016, the Comptroller and Auditor General (CAG) of India, the government auditor said on Friday.
The Comptroller and Auditor General of India ( CAG) pointed out numerous holes in the government version that state-owned Air India is on a path to turnaround its fortunes. In its audit of the Turnaround Plan and Financial Restructuring Plan of the airline, the auditor said that the airline has failed to achieve many of the objectives in various functional areas mandated under the financial restructuring plan which provided equity infusion of Rs 30,231 crore till FY21.