BUSINESS
Domestic airfares unlikely to rise from current levels as demand tapers
Civil Aviation Minister Jyotiraditya Scindia intervened as airfares touched the skies. Besides, the government has been helping airlines negotiate for temporary slots at airports that witness heavy traffic.
BUSINESS
Union ministries yet to sort out funds, land issues for logistics plans under NLP
The union government had asked 13 ministries to come up with plans focussed on cross-sectoral integration and logistics efficiency. Only four ministries have submitted their plans so far.
BUSINESS
Should India look at the US, UK model to improve safety of railway network?
Privatisation of railway operations has meant that the corporations running the networks are liable for any shortcoming.
BUSINESS
Politics Before Safety: Why epic tragedies still plague the trainwreck that is Indian Railways
The railways have focused on adding new trains that run at a higher speed, while safety has been given the short shrift. Indeed, even the funds meant for safety measures have been left underutilised.
BUSINESS
MC Explains | What is electronic interlocking and how did it cause the triple train crash?
Senior rail ministry officials have also said while the electronic interlocking system is robust, it is likely that the system was manipulated, leading to the crash
BUSINESS
Explained | How does railways' collision prevention system Kavach work?
Indian Railways plans to install Kavach across 2,000 rail route networks in 2022-23 and over 4,000-5,000 rail route networks every subsequent year. At the moment Kavach has been deployed on over 1,098 route km and 65 trains running under the South Central Railway after successful trial runs.
BUSINESS
MC Exclusive: Wadia Group approaches lenders for funds to restart Go First operations
GoFirst, in its insolvency filing, said it owes lenders including Bank of Baroda, Central Bank of India, Deutsche Bank and IDBI Bank a collective sum of Rs 6,521 crore
BUSINESS
MC Exclusive | Alstom emerges as lowest bidder for 100 aluminium Vande Bharat trains
The consortium comprising Swiss railway rolling stock manufacturer Stadler Rail and Hyderabad-based Medha Servo Drives was the only other player that took part in this tender with a bid of nearly Rs 170 crore per train.
BUSINESS
Jupiter Wagons plans to invest Rs 300 crore in the next two years to expand operations: Vivek Lohia
This will be funded from its recently-concluded QIP and internal accruals.
BUSINESS
Go First unlikely to restart operations for a month
The cash-strapped airline stopped flying from May 3, after it filed for bankruptcy citing that it has plunged into a financial crisis
BUSINESS
Modi govt @ 9 |4 ministers, a pandemic and 3 airlines nearly down, Indian aviation still flies
The growth in India's aviation sector over the last nine years has not been a cakewalk. As many as four ministers have led the Ministry of Civil Aviation and three airlines have nearly collapsed during the period
BUSINESS
Govt aims to list Shipping Corp of India Land and Assets on stock exchanges by June 7
Following the listing of SCILAL, the government will look to invite expressions of interest for its 63.75 percent stake in SCI. The government expects three to five players to bid for its stake.
BUSINESS
MC Exclusive: Go First looking at three fleet-size options to restart operations
The airline’s plans hinge on whether aircraft lessors will be allowed to take back their planes.
BUSINESS
IndiGo aims to grow north of mid-teens this FY, says CEO Pieter Elbers
IndiGo is seeing robust demand for flying in current quarter and yield in the current quarter were higher when compared on year to a capacity constraints in the domestic Indian market.
BUSINESS
Jet Airways operator’s certificate expires today. Will it take to air in 2023?
Looks unlikely, says aviation experts. Though the airline’s air operator’s permit expires on May 19, its to-be owners, the Jalan Kalrock Consortium, is yet to pay lenders, hire a CEO or discuss slots and timings with airports. Many senior executives have already exited the company.
BUSINESS
Govt unlikely to invite EoIs for Concor before July as internal processes still pending
Confusion around the railway land leasing policy that CONCOR will adopt going forward has clouded the sale
BUSINESS
DGCA suspends license of Air India pilot who allowed woman friend into cockpit
The DGCA has also imposed a penalty of Rs 30 lakh on Air India for the delay in reporting the episode.
BUSINESS
Air India’s pilot unions fold in standoff with airline, pilots ‘free to sign new contracts’
The decision to withdraw their stance comes after a vote was held among the members of the two unions where almost 80 percent voted in favour of signing the new wage agreement. The unions will also withdraw the legal notice sent to Air India’s management terming the new employment contract as illegal.
BUSINESS
NCLT's decision to admit Go First's insolvency riles lessors and vendors, leaves employees confused
GoFirst's employees are concerned about their salaries if they stick with the airline through its insolvency resolution process, while its lessors are concerned about their lease payments and have even approached the National Company Law Appellate Tribunal (NCLAT) to contest the order by the NCLT.
BUSINESS
Go First's resolution professional reassures employees that airline will restart operations
Go First will have to raise some funds in order to restart operations, the airline's resolution professional Abhilash Lal has told the employees
BUSINESS
Go First hopes to restart operations in two weeks with 20 aircraft: Sources
Go First aims to operate around 1,200 flights a week and slowly increase operations while the ongoing legal battle with Pratt & Whitney ensues.
BUSINESS
P&W says pursuing its own legal recourse against Go First's claims
The engine maker's statement came hours after the National Company Law Tribunal (NCLT) admitted the carrier's plea for voluntary insolvency resolution proceedings.
BUSINESS
Go First's legal battle with P&W likely to be messy, drawn-out affair: Execs
Even if there is a resolution of the matter, P&W may not be able to supply engines for six months due to global supply chain issues, delaying Go First’s plans to resume flights
BUSINESS
Go First lessors request to deregister and export nine more A320 aircraft
The lessors have so far requested for the deregistration and repossession of 42 A320 aircraft of Go First, the loss-incurring carrier which filed for insolvency on May 2.
