Days after turning nine, IndiGo, India’s largest airline by market share, has announced an order to buy 250 narrow-bodied A320 neo aircraft for $25.7 billion. In an interview with Business Standard, IndiGo president Aditya Ghosh, photographed below, talks about the mega aircraft deal, the company’s coming initial public offering and other plans. Edited excerpts: Earlier, IndiGo had signed a memorandum of understanding with Airbus for 250 A320neo planes. Why did you allow the MoU to ... Rediff.com, 1 month ago
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Given its network and fleet, IndiGo has garnered the highest share of passenger growth. With fuel costs expected to fall further and IndiGo’s cost structure leaner than rivals, the airline is expected to post an improved operational performance for FY16. The airline, India’s largest aviation company by market share, ended FY15 with revenues of Rs 13,925 crore (Rs 139.25 billion) and a net profit of Rs 1,300 crore (Rs 13 billion). While Jet Airways and SpiceJet, which ...Rediff.com, 3 weeks ago
A committee has been set up to rationalise Air India’s routes. Ashwani Lohani, the new chairman & managing director of loss-making state-owned airline Air India, is giving final touches to a multi-pronged revival plan to make the company financially independent in two years. According to senior airline executives, the plan’s thrust will be rationalising loss-making routes and cost control, increasing the seat load factor with greater emphasis on improving revenue per ...Rediff.com, 3 weeks ago
Indian low-cost carrier SpiceJet Ltd said on Friday it was in ‘exploratory and preliminary stage’ talks with potential investors who have shown an interest in putting money into the airline. "A few parties have approached us and evinced interest in making investments into SpiceJet Limited," it said in a statement following a report in Economic Times that the airline was in talks to sell a stake to Qatar Airways. "However, since the deliberations with such prospective investors are ...Rediff.com, 2 months ago
It has been eight months since Vistara has started operations in India. The full-service airline has faced multiple challenges in its run. Prasad Menon, below, chairman of TATA SIA Airlines, says the reason behind Vistara’s low occupancy is not policy issues but stiff competition from incumbent airlines. He spoke to Business Standard after the release of a report titled Maximising the contribution of aviation to the Indian economy, prepared by the Centre for Asia Pacific Aviation and ...Rediff.com, 1 day ago
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each. Image: Mukesh Ambani with wife Nita. Photograph: Pradeep Bandekar Industrialist Mukesh Ambani was named India's richest for ninth year in a row with a net worth of $18.9 billion even as his wealth dipped by $4.7 billion in a year, while ecommerce giant Flipkart's founders made their debut on the country's top 100 rich list. Image: Sun Pharma's Dilip ...Rediff.com, 2 weeks ago
Benchmark share indices came off their early highs to end flat as investors turned cautious ahead of the July IIP data to be released later today and consumer price inflation data for August on Monday in addition to the US Fed's stance on key interest rates next week. The 30-share Sensex ended down 12 points at 25,610 after touching a high/low of 25,876/25,530 and the Nifty ended up 1 point at 7,789 after hitting a high/low of 7,865/7,834. In the broader markets, the BSE Mid-cap ended up 0.2% ...Rediff.com, 3 weeks ago
Any passenger missing a flight on account of boarding announcement not being made can claim damages There are instances where passengers who clear the security check but miss their flights because of lack of boarding announcement. In such cases, would the passenger lose the money he had spent on a non-refundable ticket? This issue was recently decided by the South Mumbai Forum in Vishnu Tulsidas Sipahimalani & Others versus Intergloble Aviation Ltd & Anr. The Sipahimalani family ...Rediff.com, 1 month ago
What made these 10 businesses rise above the rest? Read on to find out... A business becomes a brand when it successfully connects with its consumers either intellectually or emotionally. As many brand gurus will tell you, a brand should stand for character. This personification of the products that a business is selling allows the business to surreptitiously make a place for itself in the hearts and minds of the consumers. As Vani Kola, MD of Kalaari Capital, says in her article 'What it takes ...Rediff.com, 2 months ago
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