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Businessman to sell 12% stake in CIAL 22 July 2017

Astute businessman George V Nereaparambil, who owns 22 flats in Dubai’s Burj Khalifa, has put his nearly 12% stake in Cochin International Airport Limited (CIAL) on the block.

The stake will be valued at about INR 200-250 crore, valuing the company at a little over INR 2,000 crore.

Nereaparambil, who is the founder of Dubai-based Geo Group of Companies, was among the first to invest in CIAL as early as 1996.

He had bought about 11.89% stake about 20 years ago for about INR 14.30 crore, while he was later allotted additional shares through rights issues.

“He (Nereaparambil) had a couple of rounds of discussions with certain investo...

Jet Airways asks junior pilots to take 30% pay cut 21 July 2017

According to sources said that the Jet Airways has asked its junior or trainee pilots to take a cut of 30% in their salaries.

One of the sources said that “In a letter, the management has asked first officers (junior pilots) to take a pay cut of 30%. We will take up this matter in our next meeting with the management.”

The airline in a statement attributed the decision to slash salaries to developments in the market, including the Gulf region.

“Certain developments in the market, including that of the Gulf region, as well as our continued efforts to enhance internal efficiencies, has resulted in the review of our network, fleet and cre...

Domestic airlines fly 20% more passengers in June 20 July 2017

Domestic airlines flew 95.86 lakh passengers in June this year registering a growth of almost 20% over the 79.75 lakh passengers flown during the same period in the previous year.

IndiGo retained the number one spot having flown 38.26 lakh passengers followed by Jet Airways (14.58 lakhs) and SpiceJet (12.73 lakhs).

Air India carried 12.49 lakhs while Go Air flew (8.05 lakhs), Vistara (3.44 lakhs) and AirAsia (3.51 lakhs). SpiceJet, however, reported the highest passenger load factor of 94.5% during June this year among all the domestic airline. Passenger load factor shows how many of the total seats on offer by each airline are getting filled.

AirAsia r...

Private Greenfield airport at Karaikal to be ready by next June 20 July 2017

A senior Karaikal Airport Private Limited official said, Work on India’s ‘first private greenfield airport’ here will be completed before June next and the airport will become operational soon after.

About 350 acres of land out of the proposed 526 acres for the airport project has already been procured, KAPL Chairman JV Chowdhary told reporters here.

He said that “Of the 60 acres of land required for runway construction, we have procured 45 acres and the remaining 15 acres will be procured within a month.”

Runway construction works will begin immediately thereafter and the construction works will be completed before June 20...

Jet Airways to start more domestic flights for monsoon 19 July 2017

Jet Airways announced on Tuesday that it has expanded its domestic network this monsoon by introducing 14 new direct, non-stop flights to emerging cities.

An airline spokesperson said the new flights have started operations. Among the flight introduced are direct, return and non-stop flights from Indore to Ahmedabad and Jaipur.

In addition, the airline has also commenced new, direct non-stop flights between Delhi and Indore, Lucknow and Jaipur as well as connecting Jaipur with Udaipur and Lucknow.

The airline has also introduced 11 direct, one-stop flights between Delhi and Silchar, Dehradun and Jaipur, Chandigarh and Dehradun, Chandigarh and Lucknow, a...

SpiceJet to connect Hyderabad-Puducherry under UDAN routes 18 July 2017

SpiceJet has announced its 3rd daily direct flight on the UDAN routes of Hyderabad-Puducherry-Hyderabad effective August 16, 2017.

With this new flight, Puducherry will be connected with Delhi, Mumbai, Bengaluru, Chennai, Tirupati, Ahmedabad, Jaipur, Chandigarh, Vijaywada and Varanasi with convenient onward connections.

SpiceJet has been awarded six proposals and 11 routes in the first phase of the Government's Regional Connectivity Scheme.

Of the 6 finalized proposals, four will cater to the unserved markets of Adampur, Kandla, Puducherry and Jaisalmer, whereas two will be for the underserved markets of Porbandar and Kanpur.

Flight opera...

Air India Express plans to expand fleet 17 July 2017

A senior airline official said that Air India Express is preparing a 10-year vision document as it looks at expanding its fleet and flying to more foreign destinations.

The plan is being prepared amid the government working on a road map for disinvestment in Air India, the debt-laden parent of the low-cost carrier which remains bullish on growth prospects.

While the national carrier has been in the red for long, AI Express remained in the black for the second consecutive year, posting INR 296.7 crore net profit in 2016-17.

“It is business as usual” and the the airline would keep growing, Air India Express CEO K Shyam Sundar said in response ...

India to invest USD 1.6b in the development of a 2nd airport in New Delhi 10 July 2017

India’s national government has approved a plan to construct a second international airport in New Delhi that will cost an estimated USD 1.6 billion to develop the first phase, which will have a single runway when it begins operations within five years, according to India's Ministry of Civil Aviation.

Noida International Airport will be built on a 3,000-hectare green field site at Jewar in Greater Noida, Uttar Pradesh.

The new airport will be located 45 miles from New Delhi's current airport, Indira Gandhi International, and close to the Yamuna Expressway, the main highway between New Delhi and Agra.

Further development phases will add thr...

Air India launches Delhi-Washington flight 08 July 2017

Air India today launched its first flight to Washington DC from New Delhi, thereby adding its fifth destination in the US.

Air India has deployed its 238-seater Boeing 777-200 LR aircraft to cater to the new direct service to the US. The plane offers eight seats in first class, 35 in business and 195 in economy class.

The launch took place at the Indira Gandhi International (IGI) Airport here in the presence of Charge de Affairs of US Embassy Marykay Loss Carlson, Air India Chairman and Managing Director Ashwani Lohani, Commercial Director of Air India Pankaj Shrivastava, among other airline officials.

Indian Ambassador to the US Navtej Sarna, Lohani an...

Air India to launch Delhi-Washington flight 07 July 2017

Air India today launched its first flight to Washington DC from New Delhi, thereby adding its fifth destination in the US.

Air India has deployed its 238-seater Boeing 777-200 LR aircraft to cater to the new direct service to the US.

The plane offers eight seats in first class, 35 in business and 195 in economy class.

The launch took place at the Indira Gandhi International (IGI) Airport here in the presence of Charge de Affairs of US Embassy Marykay Loss Carlson, Air India Chairman and Managing Director Ashwani Lohani, Commercial Director of Air India Pankaj Shrivastava, among other airline officials.

Indian Ambassador to the US Navtej Sarna...

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