The biggest airline group – International Air Transport Authority (IATA) – has said that the government’s new green field policy that fixes a per passenger yield criteria as the bidding parameter for future airports would not yield good long-term results. “We believe it makes no sense to fix a per passenger yield at the outset […]
Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane. U.S. light crude rose $1.31 a barrel from Friday’s close to a peak of $71.11, its highest since mid-July, before easing to around $71.00, up $1.20, by 0900 GMT. U.S. markets were closed on […]
Reliance Infrastructure (RInfra) said Tuesday that its consortium has inked an MoU with Maharashtra State Road Development Corporation (MSRDC) for the Rs 70 billion Versova-Bandra Sea Link Project in Mumbai. “Reliance Infrastructure Limited – Astaldi SpA (Italy) Consortium signed an agreement with MSRDC today for construction of prestigious Versova-Bandra Sea Link Project in Mumbai,” the […]
Levying GST on overseas air tickets violates international norms and also weakens the competitiveness of carriers, IATA chief Alexandre de Juniac said Tuesday. He also flagged various concerns about the Indian aviation sector, including high jet fuel prices, infrastructure woes and privatisation of airports. The International Airport Transport Association (IATA) is a grouping of more […]
National carrier Air India has been assured of Rs 2100 crore from the Centre in the form of guaranteed borrowing, Ministry of Civil Aviation Secretary RN Chaubey said on Tuesday. On May 22, Chaubey had said that the option of selling Air India would not be available if the bidding amount ascertained was inadequate. “There […]
Union Civil Aviation Minister Suresh Prabhu inaugurated Monday the new domestic terminal building at Gorakhpur Airport along with Uttar Pradesh Chief Minister Yogi Adityanath. Earlier in the day, the chief minister flagged off the IndiGo Gorakhpur-Delhi-Gorakhpur flight. “Happy to inaugurate the new Domestic Terminal building of #GorakhpurAirport along with Hon’ble CM of Uttar Pradesh, Shri […]
The Pune airport will see investments of Rs 1,000 crore over the next two years, and the funds will be used for expanding the terminal, cargo handling facilities, roads and parking space to augment capacity.
Private carrier Indigo Airlines on Monday started its direct flights from Gorakhpur, the parliamentary constituency of Uttar Pradesh Chief Minister Yogi Adityanath, to New Delhi. The flight was flagged off by the Chief Minister in the presence of the Union Civil Aviation Minister Suresh Prabhu, his deputy Jayant Sinha, Union Minister of State for Finance […]
The domestic airlines industry is expected to post higher losses at USD 1.65-1.90 billion this fiscal year, up from projected USD 430-460 million, amid the headwinds due higher costs and lower yields, a report said. Besides, airlines need to raise over USD 3 billion in near-term based on June quarter estimates, with full-service carriers requiring […]
Air Corporation Employees Union (ACEU) has urged Air India management to reconsider its plans to sell the iconic Air India Tower at city’s tony Nariman Point neighbourhood.
Indian airlines are expected to post combined losses of up to $1.9 billion this financial year led by full-service carriers like Air India and Jet Airways driven by rising costs and low air fares, aviation consulting firm CAPA India said. The loss forecast for the 12 months ending March 31 is up from an estimated […]
Domestic low cost carrier GoAir has announced a sale, under which customers can book flight tickets for as low as Rs 1,099. “Leisure or Business? Whatever the reason is, Fly Smart with fares starting as low as ₹1099*! So, what are you waiting for? Get. Set. Explore!” GoAir said on its website. Under the promotional […]