Airbus lifted the lid on one of the aircraft industry’s worst-kept secrets on Thursday, revealing the scale of average discounts in the cut-throat global jet market. For years, planemakers such as Airbus and U.S. rival Boeing have grabbed headlines by announcing orders at catalogue prices that are far above the real market value of jets. […]
Category: The Financial Express
The Financial Express
Private thermal power plant utilisation falling amid tepid demand growth
Utilisation levels of private thermal power generators — already distressed due to lack of adequate demand and coal supply issues — continued to remain under 60% in April-January even as thermal, nuclear and hydro power plants across the country generated 1,050.3 billion units (BU) of electricity in the period, a 4.1% year-on-year (y-o-y) growth. The […]
Last day to grab Vistara Valentine offer, book tickets starting at Rs 899; check other details here
Vistara’s Valentine offer under which customers can book tickets at a lucrative discount of up to 80% will remain open till midnight today, ie 13 February. Applicable on all classes of tickets- Economy Class (starts at Rs 899), Premium Economy (starting at Rs 1,499) and Business Class (at Rs 5,499), the travel period of the […]
Ashwani Lohani back as Air India CMD; key things to know
In a major development, Ashwani Lohani has been appointed as the CMD of Air India. Notably, Lohani had earlier taken charge at the state-run carrier as its Chairman and Managing Director in August 2015, even as the airline was facing various unresolved issues related to the Air India-Indian Airlines merger. Recently, he retired as the […]
Jet Airways aircraft grounded: Aviation regulator reviewing schedule every 15 days to check disruptions
Aviation regulator DGCA is reviewing every 15 days the schedule of flights to be operated by crisis-hit Jet Airways, according to a senior official. The full service airline is grappling with acute financial problems and had to ground some of its aircraft due to non-payment of lease rentals as well as other operational reasons. Jet […]
IndiGo cancels 49 flights on Wednesday; to curtail 30 daily flights in February
The country’s largest airline IndiGo Wednesday cancelled 49 flights and announced curtailing around 30 flights daily for the rest of February as it looks to stabilise operations and adjust crew rosters. IndiGo, which has more than 41 per cent of domestic market share, said the cancellations represent 2 per cent of its flights and that […]
IFCI seeks buyers for Rs 1,670 crore exposure to Uttarakhand power plant
IFCI on Wednesday sought bids to offload its debt and equity exposure of Rs 1,670 crore to Uttarakhand-based Sravanthi Energy. The sale is being held as per the Swiss challenge method, based on an existing offer in hand worth Rs 427.50 crore for the debt and equity exposure. IFCI’s outstanding debt exposure to the project […]
Tata Power to be selective about bidding for stressed assets: CEO
Tata Power would be “very choosy” while bidding for the takeover of stressed power plants under the insolvency and bankruptcy code, a senior company official said on Wednesday. “We will focus only on plants with good equipment, long term power purchase agreements, fuel supply agreements and sustainable tariffs,” Praveer Sinha, chief executive officer, Tata Power, […]
Jet Airways trouble: Lessors of debt-laden airline may take back aircraft
Cash-strapped Jet Airways could face further trouble as some of its lessors are planning to take back their leased aircraft to the airline if the latter’s board meeting on February 14 fails to come up with a firm recapitalisation plan. The Jet board is meeting on Thursday to approve the company’s earnings during the October-December […]
Indigo fliers grounded: Airline to cut 30 daily flights in February, March
Continuing with its spate of cancellations, low-cost carrier IndiGo on Wednesday terminated 49 flights and will curtail its schedule by 30 flights per day until March. The cancellations ran into the fifth straight day after IndiGo announced on February 9 that the hailstorm in northern India had disrupted its flight schedule. IndiGo, the largest domestic […]
Abu Dhabi’s national oil company mulls investment in Kochi petrochemical complex
Abu Dhabi National Oil Company (ADNOC), one of the world’s largest petroleum firms, has offered to invest in the upcoming petrochemical complex in Kochi, Kerala chief minister Pinarayi Vijayan said on Wednesday. ADNOC Group CEO Sultan Ahmmed Al Jaber expressed his interest in the project during a discussion with the chief minister in Abu Dhabi. […]
A380 grounded: Airbus to scrap world’s largest aircraft production
Europe’s Airbus announced plans to scrap production of the A380 superjumbo on Thursday, abandoning its dream of dominating the skies with a cruiseliner for the 21st century after years of lacklustre sales. The world’s largest airliner, with two decks of spacious cabins and room for 544 people in standard layout, was designed to challenge Boeing’s […]