BUSINESS
MC Interview |Akasa Air not chasing market share, focused on service excellence: CEO Vinay Dube
Akasa Air will take delivery of 51 more Boeing 737 MAX 8-200 and two more Boeing 737 MAX 8 planes as part of its initial order for 75 planes by mid-2027, Dube tells Moneycontrol.
BUSINESS
MC Interview |Vistara will look to add pilots by June end to comply with new FDTL norm: CEO Vinod Kannan
Kannan asserted that Vistara will be less impacted by the new Flight Duty Time Limitations because it is not a low-cost carrier and does not fly on as many daily routes as other airlines.
BUSINESS
IndiGo vows to return to earlier on-time performance standards
As of Jan 17, IndiGo's OTP remained at 43.7% that was the lowest among its peers, according to data from ministry of civil aviation.
BUSINESS
India's air passenger traffic set to double, reach 300 million by 2030: Aviation Minister
Jyotiraditya Scindia said that the domestic air passenger traffic witnessed 15 percent growth CAGR while that of international 6.1 percent in the last decade.
BUSINESS
Construction of Delhi airport's 2nd CAT IIIB runway airstrip to be completed this week: Aviation Minister
Delhi airport is targeting to complete all the activities related to runway maintenance by January 19 for Directorate General of Civil Aviation (DGCA) inspection, GMR Airport said in a letter to the Ministry of Civil Aviation (MoCA) on January 16.
BUSINESS
MC Exclusive| Indian Railways plans to launch 60 new Vande Bharat trains in 2024: Sources
Indian Railways is also looking to launch Vande Bharat trains across routes where air connectivity is either not very extensive or is very expensive.
INDIA
MTHL will open trade opportunities, attract investments for JNPT: Port authority chairman
The Mumbai Trans Harbour Link will slash the time taken to transport cargo, thereby elevating the overall operational efficiency of JNPT. In turn, this will create a more streamlined supply chain, leading to reduced operational costs, and enhance the port's competitiveness on a global scale.
BUSINESS
Budget 2024 | Infra industry wants government to continue spending, increase pace of project awards
Finance Minister Nirmala Sitharaman would present Budget 2024, which would be a vote-on-account given the general election slated for April-May 2024.
BUSINESS
Exclusive: Red Sea attacks compel at least 65% of Indian exports shipments to Europe to take longer routes, sources say
The Indian government has asked exporters to focus on markets in the east such as Australia in a bid to avoid higher costs as well as security issues associated with sending their outbound shipments to Europe following the spate of attacks on vessels taking the Red Sea route.
BUSINESS
Budget 2024: All eyes on stronger order flows after a slow year of infrastructure project awarding
The industry also expects the government to increase its focus on safety while pushing for the timely upgrade of infrastructure in the country.
BUSINESS
A look at five upcoming major infrastructure projects expected to be inaugurated in 2024
Other major projects to be inaugurated in 2024 include the Ahmedabad Metro Rail Project, Pune Metro Rail Project, Mumbai Metro Line 3 (Colaba-Bandra-Santacruz Electronics Export Processing Zone), Patna Metro Rail Project, Udhampur-Srinagar-Baramulla Railway Line and the Pune-Miraj-Londa Railway Line.
BUSINESS
Bank lending to aviation sector surges 65% as airlines borrow more to fund lease contracts, hirings
A senior Air India executive said the price of monthly aircraft leasing contracts has recently risen nearly 1.5-2% compared to 2022, which led to higher borrowing when taking delivery of aircraft for domestic airlines
BUSINESS
2024: Big infra projects may start operations; new ordering may slow ahead of polls but gather pace after election
However, following the Balasore three-train accident and the Silkyara Bend-Barkot tunnel collapse, questions have been raised about the safety and quality of some of the new projects.
BUSINESS
2024: Will the airline duopoly end? Aircraft deliveries, new aviation policy safety body in focus
Geopolitical factors, the upcoming general election and any potential impact of COVID variants on travel will be key factors to watch out for in the New Year
BUSINESS
DTDC keen on transporting 60% cargo through rail: Chairman & MD Subhasish Chakraborty
The founder of the cargo company says that for transporting cargo across distances of over 1,000 km, the railways are more efficient and sustainable than roads. At the moment, 18-20% of DTDC’s volumes are transported through railways, he said.
WORLD
Suez crisis: As US military takes control, shipping lines prepare to restart ops
With the deployment of the US-led OPG, Maersk said it was preparing to resume shipping operations. MSC Mediterranean is expected to hold a high-level meeting on December 27.
BUSINESS
Budget@10: Four ministers and 10 yrs later Indian Railways still running late and is unsafe
However, orders for new electric freight locomotives and Vande Bharat trains and the commissioning of 66.27% and 57.3% of the planned eastern and western dedicated freight corridors, respectively, are positives
BUSINESS
Budget @ 10 | Ambitious goals year after year, but road construction targets missed
Targets for building roads and highways have been missed in six of the past 9 years.
BUSINESS
Mumbai-based business couple to invest Rs 1,100 cr in Spicejet, 62 others also pick stake
SpiceJet will issue convertible warrants to 64 allottees, including Prabhudas Lilladher Advisory Services, LKP Finance, Martina Developers, and Fincon, at Rs 50 apiece. This is 18.4% lower than the airline's stock price of Rs 61.3 when markets closed on December 11
BUSINESS
Suez Canal closure worries industry but government confident of minimal impact
While there is expectation that global militaries will step in soon and secure the Red Sea and the Suez Canal by the end of the week, a prolonged delay in reusing them may lead to a 30-40 percent rise in cost of transportation
BUSINESS
NHAI awards projects worth Rs 9,384 crore after three-month delay
All projects awarded by the NHAI have been clubbed into two categories called Bundle 13 and Bundle 14 and were expected to be awarded in September 2023.
BUSINESS
MC Exclusive | Government body pulls up Amazon India for ‘dark’ practices forcing consumers to sign up for Prime membership
Following a crackdown on Amazon's dark pattern practices in the US, the Indian government is also looking to take action against the e-commerce giant.
BUSINESS
Weak rupee not a dampener for foreign tours, say airlines & travel agents
The rupee depreciated 4 paise to hit an all-time closing low of 83.41 (provisional) against the US dollar on December 13 amid a strong American currency overseas.
BUSINESS
Exclusive: Foreign airlines may pay tax in accordance with GST notices, claim rebate
The issue pertains to cross charges or transactions between separately registered units of a single entity.
