Indian airlines are turning to the international market in search of better returns as the intensifying fight for a bigger share of the world’s fastest growing domestic market – where price is king – drives down profits. While global airlines’ profits have been strong since 2015 – though with wide regional variations – Indian carriers […]
Day: June 13, 2018
Oil prices slip on rising supplies in US; Opec may relax output cuts
Oil prices fell on Wednesday, hit by rising supplies in the United States and expectations that producer group OPEC could relax voluntary output cuts. Benchmark Brent crude oil was down 35 cents at $75.53 a barrel by 0730 GMT. US light crude was 40 cents lower at $65.96. The Organization of the Petroleum Exporting Countries […]
OVL conditions financing of Venezuelan oilfield on clearing past dues
ONGC Videsh has conditioned arranging for finances for remediating and raising oil production at Venezuela’s San Cristobal field on the cash-strapped Latin American nation clearing its past dividend dues. The firm’s parent, state-owned Oil and Natural Gas Corp (ONGC) in a regulatory filing said Venezuela has not paid OVL USD 449 million (about Rs 3,305 […]
SpiceJet-Indigo collision averted at Varanasi Airport
A major mishap was averted at Varansi’s Lal Bahadur Shastri Airport on Tuesday between a SpiceJet and an IndiGo aircraft on the runway. The IndiGo aircraft was carrying 178 passengers and was about to take off for Mumbai. The SpiceJet flight inadvertently crossed the runway holding point. Noticing this, the Air Traffic Control alerted the […]