In the 2018 December quarter, the carrier recorded a profit of Rs 55 crore.
One big factor is the widespread protest against the citizenship law. But there are other reasons too.
The amount is apart from what it plans to spend on acquisitions, Karan Adani, said in a post earnings conference call. Adani Ports last month announced the purchase of a 75% stake in Krishnapatnam Port for Rs 5,520 crore.
Lawyers and industry experts said while Kamra has a case of rules being sidestepped, IndiGo can fall back on the aviation minister’s tweet advising other airlines to ban him.
"As captain of 6E5317 Mumbai-Lucknow flight on January 28, I do not find...events reportable in any way. Mr. Kamra's behaviour, while unsavoury, was not qualifying of a level 1 unruly passenger. Indeed, we pilots can all attest to incidents similar and/or worse in nature that were not deemed unruly," the captain said in his email to the airline's management.
"Therefore, we are suspending our flights between Delhi and Chengdu from February 01, 2020 until February 20, 2020. We are also suspending our Bengaluru- Hong Kong flight effective February 01, 2020," it added. IndiGo said it will continue to operate the Kolkata-Guangzhou flight which it is" monitoring on a daily basis.
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SBI has agreed to disburse a term loan and facilitate the much-delayed financial closure of the Rs 16,000-crore Navi Mumbai International Airport, to be built by the GVK Power & Infra-led consortium that runs the commercial capital’s current airport, which is India’s second busiest and most congested.
“In light of the recent incident on board 6E 5317 from Mumbai to Lucknow, we wish to inform that we are suspending Mr. Kunal Kamra from flying with IndiGo for a period of six months, as his conduct onboard was unacceptable behaviour,” the airline tweeted without specifying details of the incident.
Vistara, the airline majority-owned by the Tata Group, may explore opportunities to bid for Air India, executives close to the matter said, even as industry insiders said they expect the national carrier to finally find a buyer with the government offering to sell 100% stake.
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