BUSINESS
IRCTC, Railway Ministry discussing new revenue share model where interest of minority shareholders will be protected: Sources
Given the sharp market reaction, senior officials of IRCTC do not expect the railway ministry to attempt a revenue-sharing agreement in the near future.
BUSINESS
Explained: Why did the government hike GST rate for garments under Rs 1,000?
While the new tax rates will come into effect from January 1, the Indian textile industry is worried about the planned hike in the tax rate, arguing that such a move will affect 85 percent of the market and will lead to an increase in the prices of 80 percent of the final products.
BUSINESS
Interview| Let's forget the history and move on, says IRCTC's CMD Rajni Hasija
In an interview with Moneycontrol, Hasija said that the company’s management has full powers to decide the rate at which the convenience fee can be charged for bookings tickets on its online platforms and that it’s now time to forget the past.
BUSINESS
SpiceJet engineering staff end protest over pay as airline agrees to address demands by next week
"The management has asked for a week to resolve our demands and restore our salaries," an employee of the airline told Moneycontrol.
BUSINESS
CRISIL withdraws SpiceJet's rating; puts company in non-cooperating category
"Crisil Ratings is yet to receive adequate information from SpiceJet Limited (SpiceJet) to enable it to undertake a rating review. Crisil Ratings is taking all possible efforts to get the rated entity to cooperate with its rating process to enable it to carry out the rating review," the rating agency said.
BUSINESS
Halloween horror: How railway officials spooked IRCTC investors
Here’s the lowdown on how a Railway Ministry decision aimed at earning Rs 500 crore revenue annually, on average, led to market cap worth Rs 18,000 crore being wiped out
BUSINESS
Ministry of Railways withdraws decision to share revenues of IRCTC; Railway board, IRCTC officials met today
The update comes after DIPAM Secretary Tuhin Kanta Pandey said that the government would withdraw its decision to share revenues from the convenience IRCTC earns on tickets booked through its online portal.
BUSINESS
UDAN scheme: Aviation Ministry likely to seek four-fold increase in FY23 budgetary outlay
Officials say the Civil Aviation Ministry and AAI will seek a budgetary allocation of Rs 2,500 crore for the UDAN scheme as they expect regional routes to bounce back in 2022-23 after struggling through the pandemic.
BUSINESS
COVID-19 impact | Delhi International Airport posts loss of Rs 317 crore for FY2020-21
However, the company's EBITDA margin rose slightly to 31 percent in 2020-21 from 30.8% in 2019-20.
BUSINESS
Analysis | Why Alliance Air is key to the success of the government’s UDAN scheme
Alliance Air has bid for many routes under the RCS-UDAN scheme that private players haven’t touched. This has helped operationalise many new airports across the country while also helping it break even
BUSINESS
Railway Board is not keen on merging CRIS with IRCTC. Here’s why
Officials say a merger would affect quick decision-making on starting or winding up routes, fixing ticket prices and providing emergency services during natural disasters. They also raised concerns over the handling of passengers’ personal data
BUSINESS
Gati Shakti plan | Railways to spend Rs 50,000 crore to set up 500 multimodal hubs
The terminals to provide integrated and seamless connectivity for the movement of people, goods, and services from one mode of transport to another. It will facilitate the last-mile connectivity of infrastructure and reduce travel time.
BUSINESS
NHAI awaiting liberalised insurance, pension fund investment norms to start InvIT: Sources
The launch of the investment trust has already been delayed by the pandemic, but NHAI is keen to get long-term investors on board.
BUSINESS
The big switch for Air India employees
From moving to new homes to dealing with higher monthly expenses, Air India’s sale affect the lives of its employees in Delhi.
BUSINESS
Rs 1,57,339,00,00,000: Taxpayer’s bill for Air India 2010-21
The amount realisable from Air India’s residual assets following the handover of the airline to the Tatas is unlikely to be higher than their book value, according to experts
BUSINESS
Tourism industry welcomes move by government to allow foreign tourists, but concerns about Covid-19 third wave still loom
While the government’s move is expected to start the inflow of foreign tourists into India, the tourism industry will still have to ensure Covid-19 protocols are strictly followed in order to sustain the inflow of visitors.
BUSINESS
Mumbai airport to reopen Terminal 1 for domestic flights from October 13 following choas, flight delays
GoFirst, AirAsia India, Star Air, and TruJet will resume all their domestic operations from Terminal 1 from October 13, the private airport operator said in a statement.
BUSINESS
Over 300,000 daily domestic air passenger traffic in India, first time since COVID-19 outbreak
Domestic airlines carried around 304,020 passengers on 2,340 flights on October 9, as the trend of air passenger traffic rising in the first week of every month continued for the third straight month in October.
BUSINESS
Tata Group cannot retrench Air India staff for at least one year, VRS from second year onwards: Govt
The Tata Group will have the option to offer employees of Air India a voluntary retirement scheme if they look to retrench employees after this period.
BUSINESS
Tata wins Air India bid, ending 68 years of government control
Maharaja flies back into Tata fold. Air India, Vistara and AirAsia India expected to make Tata Group strong aviation player.
BUSINESS
Guwahati airport goes to Adani Group despite AAI union seeking probe
In a letter to the PM, an employee's union demanded a judicial probe into the privatisation process done for six airports.
BUSINESS
Air India bid: Ratan Tata, Chandrasekaran to soon meet Amit Shah-led group of ministers
The representatives of Tata Group will discuss the finals details of the Air India deal with the Air India-Specific Alternative Mechanism, as the empowered group of ministers, is known, sources have said
BUSINESS
Govt to soon announce policy for semi-conductor manufacturing: Union Minister Rajeev Chandrasekhar
India has been facing a major semi-conductor shortage since the outbreak of the COVID-19 pandemic due to global supply chain disruptions, which has forced domestic automobile companies and electronic manufacturers to cut production.
BUSINESS
Cabinet approves bonus equal to 78 days' wages for around 11.56 lakh Railway employees
The total productivity-linked bonus for railway employees has been estimated to be around Rs 1,985 crore, Railway board chairman Suneet Sharma said at a separate press conference.
