Mumbai: InterGlobe Aviation Ltd’s shares tumbled nearly 18% on BSE on Wednesday morning as the squabble between its founders intensified. InterGlobe runs IndiGo, the country’s largest airline. The stock eventually closed 11% lower at ₹1,398. One of the co-founders, Rakesh Gangwal, has sent a letter to the Securities and Exchange Board of India (Sebi), alleging […]
Category: Civil Aviation
Air France deplanes 26 passengers from its Delhi-Paris flight citing glitch
Twenty-six passengers were asked to voluntarily deplane after a Paris-bound Air France flight suffered a “technical problem” at the New Delhi airport in the wee hours of Wednesday. The pilot and crew of Air France AF225 told passengers that their checked-in luggage would be offloaded due to an unspecified technical glitch, urging them to disembark […]
IndiGo shares slump as promoter feud escalates
Mumbai: Shares of InterGlobe Aviation Ltd, parent of the country’s largest airline IndiGo, on Wednesday slumped over 17% after its co-founder raised corporate governance issue with market regulator Securities and Exchange Board of India (Sebi). The stock touched a low of ₹1291 and fell as much as 17.55%. At 9.30 am, the scrip was trading […]
SpiceJet technician dies after landing gear door got ‘accidentally shut’ at Kolkata airport
KOLKATA: In a freak accident at the Kolkata airport, a SpiceJet technician lost his life after getting trapped in the main landing gear door while working on an aircraft. News agencies reported that the incident was reported from Netaji Subhash Chandra Bose International Airport in Kolkata at around 1 am today. The SpiceJet technician was […]
IndiGo being run like a ‘paan ki dukaan’, says co-promoter Rakesh Gangwal
New Delhi: Locked in a bitter battle with fellow co-founder Rahul Bhatia, IndiGo promoter Rakesh Gangwal has alleged serious governance lapses at the company, saying even a “paan ki dukaan” (betel shop) would have managed matters with more grace. Gangwal, who along with his affiliates holds around 37 per cent stake in InterGlobe Aviation, said […]
AI makes special baggage allowance for passengers carrying holy water from Haj
NEW DELHI: Air India will provide an additional baggage allowance of 5 kilograms to the passengers returning from Saudi Arabia after Haj with Zam Zam (holy water) cans. In a statement on Tuesday, the company said that the baggage allowance on all commercial flights operating out of Saudi Arabia is uniformly 40 Kilograms, and the […]
DGCA issues show cause notices to Chennai, Ahmedabad airports over safety lapses
NEW DELHI: Aviation regulator DGCA Tuesday issued show cause notices to the directors of the Chennai and Ahmedabad airports after it found that some critical areas were not being maintained as per its safety standards, sources said. The inspection of the airports was done earlier this month by the Directorate General of Civil Aviation (DGCA). […]
Rakesh Gangwal writes to Sebi, escalating IndiGo feud
Mumbai: The simmering feud between the two founders of InterGlobe Aviation Ltd, which runs India’s largest airline, took an ugly turn, with Rakesh Gangwal seeking the regulator’s intervention to curb alleged governance violations by co-founder Rahul Bhatia. The charges were denied by Bhatia, who accused Gangwal of trying to dilute the controlling rights of his […]
Delhi HC refuses to grant urgent relief to Jet Airways founder Naresh Goyal
New Delhi: Delhi High Court on Tuesday refused to grant urgent relief to founder of Jet Airways Naresh Goyal, and sought response from the Centre on his plea to travel abroad. The court was hearing Goyal’s petition which challenges the lookout circular (LOC) issued against him on the ground that as on May 25, when […]
Ticket to fly overseas costs ₹18,000 crore for Jet Airways’ Naresh Goyal
NEW DELHI: The Delhi high court on Tuesday asked Naresh Goyal, the founder and former chairman of Jet Airways (India) Ltd, to first deposit ₹18,000 crore the grounded airline owes lenders if he wishes to travel overseas. Declining to grant permission to Goyal to leave India, the court sought the response of the Union government […]
Two new heavy-lift Chinook helicopters for IAF arrive in Gujarat
NEW DELHI: American aerospace major Boeing on Monday announced the arrival of two new heavy-lift Chinook helicopters for the Indian Air Force at the Mundra port in Gujarat. The Indian Air Force has ordered 15 Chinooks and the first four helicopters arrived in February.The IAF had placed the order in 2015 along with 22 Apache […]
How Air India sale can spur govt’s divestment agenda
The government plans to sell Air India to a strategic investor this fiscal. Such a sale of a state-owned unlisted company could give a fillip to the government’s divestment programme and spur stock markets in India. Mint dissects the reasons that make the sale of the carrier important for all stakeholders and how this could […]