The upgrade reflects Crisil’s “expectation of a significant improvement in the credit risk profile of the Company over the medium term” a statement said. These improvements are the result of a change in the company’s strategy that now increasingly centres around India and South Asia, said the company.
Delta will connect New York to Mumbai on daily flights starting Dec 24.
“When there is a change in administration and you’ve a big project going on, it is important to have a courtesy call. Uddhav Thackeray and the various coalition people that he has around them need to meet people who are doing big projects or those wanting to do big projects in their state,” said Branson, the founder of the diversified conglomerate Virgin Group.
JM Financial and Axis Bank will manage the issue, said one of the people cited above.
On December 5, Allcargo bought 10.38 million, or 8.51%, shares in Gati for Rs 77.8 crore.
The company, promoted by Boris Zha, a Singaporean national, raised the funds from Korea Investment Partners (KIP), SamsungVenture Investment Corporation (SVIC), UOB Venture, 10 Fund, CVCapital, Zero2IPO Ventures and M&S Partners among others.
The Park Hotels currently runs 25 properties, including 12 under a sub-brand called Zone by The Park.
Gati’s promoters owned 17.78 per cent in the company as of September end.
Flights to US, Europe this holiday season may cost three times more on Jet’s exit. The India-London sector could see new flights, with Vistara and IndiGo possibly starting them next year, but other routes will have to wait. A Delhi-Paris ticket is priced at Rs 1,14,642 against Rs 40,020 in December last year, according to travel aggregator ixigo.
IndiGo on Wednesday announced it has become a member of the global lobbying body the International Air Transport Association, which is a group of more than 290 member airlines.
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