India’s aviation industry, like its global peers, has been the worst hit by the Coronavirus crisis, which led the government to close the country’s borders and then lock it down entirely, prohibiting all travel. The unprecedented situation of a prolonged state of no revenue will lead to the country’s airlines to lose $1.75 billion in the April-June quarter, said Sydney-based consultant CAPA Centre for Aviation.
HDFC Trustee Company Limited is the trustee to HDFC Mutual Fund, the country’s largest.
Executives at Future Supply Chain, DHL Express, Ecom Express, Safexpress and Spoton Logistics said the operations are beginning to unfreeze, though it will take at least a week for them to smoothen out.
The CNPL stretches from the CEO all the way down to managers. The top down approach means that CXOs, senior vice presidents and vice presidents will take three day leaves, while the ones lower down take 1-2 days. Most of cabin crew, security and ground staff will be exempted.
Cabinet secretary Rajiv Gauba Thursday instructed top state bureaucrats that the hundreds of trucks stranded at check posts across the country should be allowed to reach their destinations, said a person close to the development.
Air freight operators and logistics firms are being forced to suspend operations because goods are piling up at cargo terminals due to lack of staff and trucks have been halted by police enforcing the Covid-19 lockdown across the country.
The Airline had previously laid off its expat pilots, and introduced leave without pay for its employees along with a paycut of up to 50% for its top leadership.
The government mandated all domestic flights will suspended from Tuesday midnight. International flights have already been suspended. “For those who don’t have to be working during this temporary suspension of operations, we will make no deductions of salaries or leaves,” Ronojoy Dutta wrote in a communication Tuesday.
The government on Thursday said no scheduled international commercial passenger aircraft will be allowed to land in India from March 22 for one week. The ban is only on commercial passenger aircraft and not on aeroplanes carrying freight. With this order, about 100 international flights daily which are being operated as on date, will be cancelled.
Top executives at the retailers said they are looking at stark empty spaces which used to be thronged by excited customers shopping for premium liquor, perfumes and fashion accessories two months ago. The signs of revival are bleak.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon