A reduction in fuel prices and efforts to pare down costs helped Air India turn in a better financial performance, although the carrier still accounts for the biggest quantum of industry losses.
IndiGo itself plunged as much as 10% during the day and closed 7.20% down at Rs 836 on the sensex. Jet Airways closed 2.72% down.
For the transportation sector as a whole, including rail, roads and shipping, the government has provided Rs 2,41,387 crore in 2017-18.
A reduction in fuel prices and its own cost cutting measures has helped Air India reduce losses but it still accounts for the biggest chunk in the industry.
The airlines' yields dropped 16 per cent. Fuel costs rose to Rs 1671.2 crore from Rs 1165.8 crore.
IRS officers said without any experience, the state officers will find it difficult to implement GST and it will create chaos among taxpayers.
Hogan will join an investment company along with Etihad Aviation Group chief financial officer James Rigney, who will also leave the company later this year.
The Malaysian low-fare carrier and Tata Sons own 49% each in the airline. The remaining 2% is owned by Chairman S Ramadorai and Director R Venkataramanan.
The development follows speculation about Hogan's possible exit and questions about Etihad's ability to turn around struggling investment partners
efore his first stint at Jet, Shivkumar was finance director at the GVK-led Mumbai International Airport Ltd and before that was vice president-finance at Tata Group's Taj Hotels Resorts & Palaces.
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