IndiGo airlines has introduced a new flight on the segment between the city and Bengaluru. With this, the number of flights operating on this route has gone up to ten. IndiGo has already been operating four flights on this route on a daily basis. Encouraged by the consumer response, it has introduced one more flight. […]
Day: December 5, 2019
Suzlon plans debt rejig after stake sale fails
MUMBAI: Wind turbine maker Suzlon EnergyNSE 0.00 % and its bankers are working on a debt restructuring programme to avoid the bankruptcy court for resolution. This is after talks for stake sale with potential buyers collapsed. Chairman Tulsi Tanti told ET that the domestic wind energy market faces problems that have made foreign investors wary […]
Russia supplies fuel to India’s oldest nuclear power plant
New Delhi: Russia extending support to India’s nuclear industry has not only supplied fuel for Kudankulam plant built by Rosatom but also supplied uranium to power India’s oldest nuclear power plant in Tarapur. TVEL, fuel division of Russia’s Rosatom State Atomic Energy Corporation, has been supplying uranium fuel pellets for Tarapur on a regular basis […]
Why diesel demand is contracting in India
India’s demand for diesel is slowing as the country’s car fleet shifts predominantly to petrol, trucks get more efficient and solar pumps displace diesel-fed units across the countryside. The combination of these changes has led analysts, academics and company officials to speculate that diesel demand growth in the world’s third-largest crude oil consumer may have […]
VVIP chopper scam: Witness in money-laundering case moves High Court to quash LOC against him
New Delhi: The Delhi High Court sought the Centre’s stand on Wednesday on a plea by one of the witnesses in a money-laundering case connected to the AgustaWestland VVIP chopper scam, seeking setting aside of a look-out circular (LOC) issued against him. Justice Suresh Kait issued notice to the Ministry of Home Affairs (MHA) and […]
IndiGo says PW engine issue is likely to have an impact on future capacity
With DGCA ordering IndiGoNSE -2.59 % to replace all A320neo aircraft with unmodified Pratt and Whitney (PW) engines by January 31, the airline on Wednesday designated this matter as one of the “revenue headwinds” of 2019-20, and said it is “likely to have an impact on future capacity”. On November 1, aviation regulator Directorate General […]
Air India starts compensating flyers for 49-hour delay
MUMBAI: After initially expressing “regret” and refusing to accept any liability, Air India has relented and paid a compensation of €600( approx Rs 47,700) each to several passengers for the delay in its London to Mumbai flight on May 28. Engineering issues had been blamed for the over two-day delay. The compensation was paid as […]
Deadline for FASTag deferred
The transport ministry has put off by two weeks the implementation of 100% electronic toll collection across national highways, which was supposed to start on December 1. The government wants to give additional time for vehicle owners to switch to FASTags, senior officials aware of the development told ET. Union highways minister Nitin Gadkari had […]
IL&FS reports Rs 22,527 crore loss for FY19, revenue plunges 47%
MUMBAI: Cash-strapped Infrastructure Leasing & Financial Services (IL&FS) on Wednesday reported a standalone net loss of Rs 22,527 crore for the fiscal to March 2019, as against Rs 333 crore in the previous fiscal. The scam-ridden infra lending major reported revenue of Rs 824 crore, massively down from Rs 1,734 crore in the previous year. […]