MUMBAI: The GMR group-run Delhi International Airport (DIAL) has raised Rs 2,000 crore from real estate monetisation, which will help its on-going expansion plan, as the nation’s largest airport is set to handle over 70 million passenger this fiscal year, a senior executive said Wednesday. The country’s busiest airport currently handles about 62 million passengers […]
Category: Civil Aviation
Jet Airways shares continue upward march; close over 3% higher
New Delhi, Mar 27 () Shares of Jet Airways continued their upward journey Wednesday and closed over 3 per cent higher after the company set an ‘ambitious’ target of flying 40 additional aircraft by the end of April. The stock closed at Rs 277.15, up 2.27 per cent on the BSE. During the day, it […]
‘Air train’ plan to connect IGI terminals set to take off
NEW DELHI: Transiting between the various terminals of IGI Airport, the world’s 12th busiest hub, will become a breeze in a few years’ time, with the airport operator finalising the route of an “air train” connecting the terminals as well as Aerocity, the hotel centre. The train will have four stations, including one at the […]
Jet Airways to fly 40 more planes by end April: Civil aviation secretary
NEW DELHI: India’s Jet Airways will fly 40 more planes by the end of next month and is in talks with leasing companies to restart operating several of its grounded aircraft, the country’s top aviation official said on Tuesday. Lenders of Jet Airways moved in to take a majority stake in the airline, which is […]
Jet Airways hopes to get 40 grounded planes back from lessors by April-end
NEW DELHI: Jet Airways is currently operating 35 aircraft and may take this number to 75 by April-end, if it is able to convince lessors who have grounded planes over dues to fly them again. The airline’s officials met top aviation officials on Tuesday to discuss a roadmap for the next couple of months. This […]
Air passenger traffic growth hits five-year low in February on Jet turbulence
Coimbatore: The turbulence at Jet Airways seems to have had an adverse impact on the growth in air passenger traffic in the country. The number of passengers travelling through domestic airways in February stood at 11.34 million, a 5.6% year-on-year (y-o-y) increase, the slowest pace of growth in a month in five years. The number […]
Tatas, GIC & SSG to buy stake in GMR Airports by investing Rs 8,000 crore
NEW DELHI: After airlines, the Tata Group has now made its foray into the airport sector. Tatas, GIC and SSG Capital Management will invest Rs 8,000 crore in infra major GMR’s airport arm, valuing GMR Airports at almost Rs 22,500 crore. The investment will help GMR Group reduce its debt burden as it is currently […]
After Jet Airways bailout Vijay Mallya criticises public sector banks for “double standards”
public sector banks for “double standards” under the current NDA regime for their intervention to bailout Jet Airways while the same lenders made his Kingfisher airlines “fail ruthlessly”. In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said,”…Only wish the same […]
Jet gets a lifeline as Naresh Goyal quits as chairman
MUMBAI: A 28-year journey came to an end on Monday as Naresh Goyal, founder chairman of Jet Airways, finally stepped down following pressure from lenders. By doing so, Goyal may have ensured the survival of the airline as his departure was one of the conditions stipulated by lenders, led by State Bank of India, who […]
Naresh Goyal’s letter to Jet Airways’ employees: Full text
For the past 25 years, Jet Airways has been a way of life for Anita and me. Very few people are fortunate enough to live their dreams and we have been truly blessed to be one among those few. My dream started out as the simple yearning of a simple man, a desire to bring […]
Naresh Goyal has option to raise stake; expect buyer for Jet by May 31: SBI chief
NEW DELHI: Embattled Jet Airways promoter Naresh Goyal, who was forced to cut his stake in the cash-strapped airline, will be eligible to bid for takeover of one of the oldest private carrier when the lenders auction it next month, SBI chairman Rajnish Kumar said on Monday. State Bank of India, which is the leader […]
Jet’s grounding, yet flyers pay heavily for cancelling tickets
Mumbai: Thousands of passengers who have booked their summer holiday air tickets on Jet Airways are now stressed over the prospect of a ruined holiday and the money they would lose. For, Jet has been cancelling a large number of flights on a daily basis, while it also levies the steepest fee on flyers voluntarily […]