The airline had on October 31 said that there was an ongoing investigation against “certain former personnel” of AirAsia India.
Revenue rose just 3% to Rs 5,420.35 crore but total expenditure rose 6% to Rs 5,360 crore. Operating profit plummeted by slightly less than a third to Rs 60.36 crore.
Funds from the levy will contribute to a corpus which will cross-subsidize small regional carriers flying between small towns for fares capped at Rs 2,500.
The mad frenzy among people to get rid of their 'unaccounted' notes of Rs 500 and Rs 1,000 has seen airlines witness a mad rush at airport counters.
Large crowds thronged ticket counters at Mumbai’s busiest railway stations Churchgate, Chhatrapati Shivaji Terminus and Andheri.
InterGlobe's other income from finance from mutual funds increased 63% to Rs 160.8 crore propping up its net profit.
Sivanandhan, who was appointed on Sunday, said his purview would be ongoing and future investigations. He has not been apprised of any specific case yet.
Currently, any aircraft that is being brought to India has to be first registered with the DGCA. The rule has been seen as a hurdle in taking planes on lease by airlines.
Many of transactions — primarily aircraft lease rentals and maintenance reserve payments — are done at higher-than-market rates, according to former employees.
Mittu Chandilya instructed payments to a Singapore-based entity where no service was rendered and to an Indian firm which doesn’t exist in government records.
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