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Indian airlines

Dec 16, 2019, 02.13 PM IST

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INDIAN AIRLINES

Indian airlines likely to post loss of over $600 million this fiscal: report

In June, it projected a consolidated net profit of $500-700 million in the optimistic case.

Air India needs to survive till it is sold, says Lohani as airline runs almost out of funds

The airline had on Monday asked the govt for an i...

Airlines’ excess capacity problem to increase in 2020

International Air Transport Association (IATA) chief economist Brian Pearce said that t...

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  • A group of Indian public sector banks sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a High Court hearing in London. Judge Michael Briggs presided over the ongoing hearing in the insolvency division of the court on a bankruptcy petition filed by the banks last year, in relation to lending by Mallya's now-defunct Kingfisher Airlines.

    These custom-made B777 planes for VVIP travel will be used to fly the President, Vice President and Prime Minister, are expected to be in operations from July next year. At present, President Ram Nath Kovind, Vice President M Venkaiah Naidu and Prime Minister Narendra Modi fly on Air India's 26-year-old Jumbos - B747s. These planes are flown by Air India pilots.

    Besides SBI, the 13 Indian banks include Bank of Baroda, Corporation bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co. Pvt Ltd.

    For 2020, the Lufthansa group will be trying to strengthen Indian partnerships so that Indian carriers can bring passengers from second and third-tier cities to its four gateways. However, apart from launching a Munich-Bengaluru flight service in April, the airline does not plan to start any other flight service in 2020.

    "AISAM has approved the 100 per cent sale of Government of India stake in Air India for the re-initiated strategic disinvestment of Air India," Minister of State for Civil Aviation Hardeep Singh Puri said in a written reply to the Lok Sabha. The national carrier, which has a debt burden of more than Rs 50,000 crore, has been making loss for long and as part of revival efforts, the government has decided on disinvestment.

    This colloboration and student exchange program was conceived by the Hon. Prime Minister of India, Mr Narendra Modi during his visit to SIRIUS, Sochi in May 2018. Later, a MoU was signed between Atal Innovation Mission (AIM) and SIRIUS Education Center, in Oct 2018.

    The private carrier's losses widened despite it posting a 52% increase in second quarter operational revenue to 2,845.3 crore as it added more destinations and expanded its fleet of passenger and freighter aircraft.

    Airbus' A220, with the largest and quietest cabin in its class, offers a wide-body passenger comfort in a single-aisle aircraft, a press statement by Airbus said. A220 incorporates state-of-the-art technologies, the latest aerodynamic design and new generation engines resulting in fuel savings of 20 per cent, the aircraft manufacturer added.

    IndiGo has been aggressively expanding its operations and has started 11 overseas routes in the last one year. Recently, it placed an order for 300 more planes from Airbus and is also considering wide-body aircraft for long haul routes. IndiGo, owned by InterGlobe Aviation, is the country's largest airline with a market share of 48.2% in September.

    The pilot bodies, in a communication to Puri, said that the airline management appraised it of the status of disinvestment during a recent meeting but it did not provide any clarity on pending issues or provide any roadmap with regards to the future of employees.

    EoI inviting bids for 100% stake sale are likely to be floated either this month-end or next month. Bidding for the national carrier, which is sitting on a debt pile of around Rs 58,000 cr, will be carried out through a newly developed e-bidding system.

    The Delhi-based airline had in August this year extended its codeshare pact with Singapore Airlines and its regional arm SilkAir to international routes as well besides for domestic flights, which is in place since 2017.

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