BUSINESS
Tata Group may invest $75-100 mn in Air India Express in next 5 years to expand international operations
Will invest $15-20 mn annually for next 5 years; investment to be mostly for adding aircraft.
BUSINESS
Travel and tourism industry likely to return to pre-pandemic levels by the end of 2022: MakeMyTrip Co-Founder & Group CEO Rajesh Magow
BUSINESS
MMT used the last two years to prepare for growth after the pandemic: MakeMyTrip Co-Founder & Group CEO Rajesh Magow
Magow said that MMT has not only expanded its core business, taking its operations to 400 more cities in the past two years, but it has also added six new verticals to its business. He added that the entry into the six new businesses was done using in-house staff and very little investment.
BUSINESS
We expect international tourism to revive in the second half of FY23 and add to our profitability: Thomas Cook MD Madhavan Menon
The domestic tourism market will return to pre-pandemic levels by the July-September period, says Menon.
BUSINESS
Explained | Why are visas from some countries facing delays in processing?
Visa processing time for some nations in the continent and the United Kingdom has risen to four to ten weeks at the moment, which has forced many would-be travellers to cancel flights and bookings.
BUSINESS
Indian Railways still struggling to match pre-COVID numbers in average daily passengers
The average railway ticket bookings recorded by IRCTC rose to 15.5-16.5 lakh a day in March and April, but fell to around 12.5 lakh in May, a railway ministry official said, against 13.2 lakh in May 2019, before the pandemic hit.
BUSINESS
Infra firms don’t expect govt move to rein in steel prices to have immediate impact
The industry expects steel prices to soften only over the next few quarters, which may subsequently reflect in the cost of projects.
BUSINESS
Steelmakers want government to revisit duty, say local market can't absorb export volumes
Indian exporters were already facing pricing pressure when the government announced the export duty, which is aimed at curbing exports to boost domestic supply.
BUSINESS
GoFirst to expand international operations with IPO proceeds: Sources
The airline plans to start flying to Nepal, Sri Lanka, Malaysia, Cambodia and Vietnam and increase flights to countries in West Asia.
BUSINESS
Chinese company in the race for RailTel orders amid India-China tensions
The development is significant as the Indian government had in July 2021 imposed restrictions on investments and supplies from companies from countries sharing a land border with India following the Galwan valley standoff with China.
BUSINESS
Jet Airways gets air operator certificate from DGCA
This will allow the airline to resume commercial flight operations.
BUSINESS
GoFirst may launch IPO in July-September as sentiment improves over aviation stocks
The share offering is being planned amid a sharp rise in aviation turbine fuel prices, which is making air travel costlier.
BUSINESS
Alstom India to supply trains for two more metro projects in India: Alain Spohr
Alstom is also making freight locomotives for the Indian Railways, setting up rail tracks and supplying components.
BUSINESS
As more customers look at foreign travel, visa processing firms feel the pressure
Stringent regulations laid down by governments across the world are resulting in longer wait periods for visa processing. Also, visas for those looking to leave Ukraine, working professionals and students are getting priority over tourist visas.
BUSINESS
Explained | How can the government include ATF as a part of GST?
The aviation industry wants the government to include ATF under the goods and services tax (GST) to benefit from input tax credit and reduce the stress on operations.
BUSINESS
A rough ride for coal to power sector as Indian Railways struggles with capacity
As on May 1, some 83 of the 150 power plants running on domestic coal reported critically low coal levels and many of them cited lack of rakes as the reason. On April 29, the railways cancelled 657 mail and passenger trains to ensure faster movement of coal rakes
BUSINESS
Explained | Why is Indian Railways cancelling mail, passenger trains?
On May 1, around 42 passenger trains were canceled to allow faster movement of coal carriages to restock power plants across India running low on the fuel amid blackouts and outages in many states
BUSINESS
Five states plan to roll out drones for fertiliser usage in next 2-3 months: Sources
The testing of drones to be used for spraying fertilisers in Uttar Pradesh, Punjab and Haryana has already been completed and farmer producer organisations in these states are expected to start using the drones very soon, according to sources.
BUSINESS
Tata Group in talks with govt, airport operators to extend lease for staff colonies: Sources
A senior official said the conglomerate is likely to help employees of Air India find alternate accommodation in the three-month period in order to facilitate smooth operations of the airline.
BUSINESS
Indian ports fast-track efforts to increase cargo handling capacity
Officials at Kolkata’s Syama Prasad Mookerjee Port, Chennai Port, Jawaharlal Nehru Port Trust (JNPT), Mundra Port, Thoothukudi’s V.O. Chidambaranar Port and Cochin Port said they are looking to improve cargo handling efficiency and get rid of supply chain bottlenecks in order to handle more capacity.
BUSINESS
Explained: Why has the DGCA suspended SpiceJet’s pilots?
DGCA officials said that they will take strict action against those found responsible for the lapse in training.
BUSINESS
Catch-22 for Railways as power sector needs more coal transported but rakes availability stretched
As many as 81 of 150 power plants running on domestic coal had critically low coal levels; many of them cited lack of rakes as the key reason.
BUSINESS
VFS Global customers preferring premium services after COVID-19: Pranav Sinha
Indian travellers are preferring travel services that enable them to submit visa applications from the comfort, convenience and safety of their homes or offices, reducing human touch points and possible exposure to the coronavirus
BUSINESS
Any port in a storm: India may benefit from Sri Lanka’s problems
The government expects trouble at Colombo port to push traffic at Indian ports by around 50,000 TEUs in April-June.
