Today, AERA (Airports Economic Regulatory Authority) decided to raise the charges in airport of New Delhi in about 346 per cent and this will be in two years time. The airlines said that the passengers had to deal with their massive hike since they will not have any choice. AERA – Airports Economic Regulatory Authority [...]
The government today have made it known to the public that there is a turnaround package equity infusion over a nine-year period on Air India that cost Rs 30,000 ccore. This is together with the induction of 27 Boeing 787 Dreamliners. Also, the government had approved to subsidize Air India’s MRO and its Engineering Services. [...]
The Kingfisher Airlines is having some problem with their operation which resulted to great loss and debt up to Rs 7,500 ccore. When a certain company is facing this kind of debt, it is definitely in big trouble. This might be a reason why there are some speculations that the airline will be bought by [...]
GMR group is has recently announced that it is planning to sell Hyderabad Duty Free Retail Ltd (HDFRL). GMR Hyderabad International Airport Ltd (GHIAL), owns and manages duty-free outlets at the International Airport in Hyderabad has reported this news and said that company is waiting for a potential buyer. This airport has 3 retail stores [...]
This fiscal year had bagged bad news to all the air passengers. First, flight cancellations due to the prevailing crisis at Kingfisher Airlines have caused a great inconvenience. Now, a recent survey said that high inflation and network disruptions would keep airfares high in the current quarter. The ‘American Express Business Travel Monitor’ which tracks [...]
Today Civil Aviation Minister, Ajit Singh said to the journalists that, “Kingfisher Airlines is not going to get the bailout package right now. Kingfisher Airlines has presented their business plan to the nationalized banks and the banks will decide whether to issue loan to the Airlines.” The operations of the Kingfisher Airlines were disrupted today [...]
Government is finally planning to allow major international airlines to invest in Indian carriers. It had made changes to many earlier rules to avoid foreign investment in Indian airlines. However, many foreign airlines are not ready to invest as the Indian aviation market is making a loss. When a few airlines like Qatar Airways and [...]
The largest lenders of the country, SBI and ICICI Bank saw a downfall of their share value on predominant concerns about rising assets due to the exposure to airline companies. The chairman of SBI, Mr Pratip Chaudhuri, declared that Kingfisher Airlines, being the Non-performing asset to SBI, is in default. Kingfisher has been finding it [...]
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