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Also, this is the first FDI deal in aviation space and has its own complexities. Other foreign carriers may switch gears after they find Indian government committed to attract foreign investors, they say.
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In an interview to moneycontrol.com, Supreme Petrochem's chairman MP Taparia said, “Demand for consumer durables is seen growing in semi urban and rural areas. This trend has given us hope of atleast 15 percent growth in current financial year.â€
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Sugarcane cost has gone up around 14 percent to Rs 210 per quintal whereas sugar price has almost remained same or has risen only maringally in last three sugar seasons, M Manickam, managing director, Sakthi Sugars told Moneycontrol.com in an exclusive interview.
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Kingfisher Airlines (KFA) has approached the Directorate General of Civil Aviation (DGCA) seeking approval to reduce its current flight operations, a civil aviation ministry source told moneycontrol.com.
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GMR Infrastructure, which runs the Delhi Airport has once again proposed to the Airport Economic Regulatory Authority (AERA) to allow them to hike airport charges in addition to the 346% increase in user development fee (UDF) which came into effect last month.
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Air India (AI) may be in the news for making a loss of around 150 crore as around 200 of its pilots have struck work in the past eight days leading to massive flight cancellations. But a top executive at AI tells moneycontrol.com that the carrier is actually saving quite a few crores by curtailing operations.
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Come January and all major airlines have to brace for a lean season which extends till March. But nevertheless, Jet Airways, Kingfisher, SpiceJet and their competitors have already fine-tuned business strategies to attract customers.
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Ever dreamt of flying on a high-speed business jet without buying it? Well, it is very much possible to fly with Hawker Beechcraft, a Cessna or a Falcon as they can be leased on hourly, weekly or monthly basis.
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With the rupee falling to unprecedented levels against the dollar, Indian airline companies are certainly going to face the heat in the December quarter.
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State-run Shipping Corporation of India (SCI) wants to tread cautiously at a time when the company is sailing in choppy waters.
Hence, the state run firm has revised its fleet augmentation plan to control cash outgo as it made losses of Rs 141 crore during the September quarter compared to a Rs 251 crore profit year-on-year.
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GVK Power and Infrastructure will attain financial closure for its Shivpuri-Dewas road project by the end of FY12 and the project is expected to be completed three years from then, says chief financial officer, Issac George.
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Private airline Jet Airways will not renew contracts of its expat pilotsaround 200 of them in an effort to check employee cost. Jet's wage bill rose 27% year-on-year to Rs 407 crore, with pilots salaries accounting for a decent chunk of it.
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Airline operators like Jet Airways, Kingfisher Airlines and others are lobbying hard for lower taxes on aviation turbine fuel, which accounts for nearly half of their operating costs.
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To woo customers back into booking their holidays abroad, tour operators and online travel agencies have quickly redesigned international holiday packages in such a way that customers don’t have to pay extra even when the rupee has weakened over 10% against foreign currencies compared to last year.
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The Mumbai Metropolitan Region Development Authority (MMRDA) has asked Jet Airways to pay interest on the plot in Bandra-Kurla Complex that the private carrier had purchased from it in 2008.
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Airline industry bigwigs met the Prime Minister’s Office (PMO) on Saturday with a wishlist that could help them fly into the black.
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The recent trend of the rupee rising against the Euro has given prospective holiday makers plenty of reasons to cancel their vacation to European destinations which begins from April next year.
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Cash-strapped Kingfisher Airlines (KFA) is gradually shuttering sales offices across cities, following a 30% cut in its domestic flights. The move is expected to save the airline around Rs 150 crore.
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GMR Infrastructure announced its September quarter results on Friday. While the company posted a 48% increase in its revenues Year-on-Year, it recorded a net loss of Rs 63 crore versus Rs 71 crore net profit.
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There could be even more to seducing discounts and attractive holiday packages typically offered by travel portals and airlines.
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Bharat Petroleum (BPCL), the country’s second largest refiner may have offset its under-recoveries to the tune of Rs 1,000 crore by hiking petrol by Rs 3 on each litre.
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Even as GVK Power and Infrastructure has now become the largest stakeholder in Bangalore Airports after picking up additional 14% stake at Rs 614 crore from Siemens, the company has to grapple with margin pressures going ahead.
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Even as Tata Steel has reported robust numbers for the April-June quarter, it has to brace itself for challenging times ahead. Seasonal slowdown in Europe due to debt crisis and prolongued US slowdown would keep the company’s performance subdued for the next couple of quarters, warn analysts.
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Broking firms have maintained a ‘buy’ rating on the stock with a target of Rs 195-220 as the company is likely to post encouraging numbers in the ensuing quarters.
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After much deliberation, Kingfisher Airlines (KFA) has restored the original salary structure of its pilots.
