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End of an era for Air India colonies in Mumbai’s Kalina as last of the occupants leave
Unlike beginnings that arrive with celebrations and fanfare, endings can often be muted, marked by silent departures. Air India’s Mumbai story is a case in point. The Air India and Indian Airlines colonies that sprawl across 184 acres in Kalina, with the first of the four constructed way back in 1955, have moved into history.
US-Iran war: Rs 10,000 crore ATF Price Stabilization Fund approved for OMCs
Amid the prolonged Middle East conflict, the government has approved an Aviation Turbine Fuel (ATF) Price Stabilisation Fund to safeguard problems being faced by airlines, oil marketing companies and fliers. This will be a self sustaining revolving fund. The Union Cabinet on Wednesday approved the fund of Rs 10,000 crore support package to protect airlines from the sharp surge in aviation fuel prices triggered by the ongoing turmoil in West Asia.
‘How to have financially strong airlines,’ India finally begins to figure out
The ongoing West Asia crisis could pave the way for long-awaited reforms for India to have financially viable airlines and a sustainable aviation sector. The Union aviation ministry has “initiated a study on financially stressed airlines in India to assess structural challenges and identify measures to improve sector resilience.” It has asked airlines and other stakeholders to suggest reforms in policy, regulatory affairs, operations, contracts, procurement-related and other areas; the...
Middle East crisis: IndiGo grounds flights to six overseas destinations amid cost pressures
India’s largest airline IndiGo on Thursday announced the temporary suspension of flights to six international destinations, including Hong Kong, Shanghai and Thailand’s Krabi, as it moves to optimise its network amid softer travel demand and rising operating costs. The budget carrier said services to Langkawi, Krabi, Ho Chi Minh City, Hong Kong and Shanghai will be suspended from July 1, while flights to Siem Reap will be halted from July 3. The suspension will remain in place until...
Air fares may go up as oil marketing companies hike ATF prices by 10%
Flying is set to get more expensive, with oil marketing companies Tuesday increasing aviation turbine fuel (ATF) prices by 10% under the new price-stabilisation regime. ATF prices will remain frozen at this level for three years under the new regime. Jet fuel for domestic carriers will now cost Rs 115 per litre, up from Rs 105 per litre.
SpiceJet's cash crunch deepens: Many pilots unpaid since March, airline seeks emergency loan
Many SpiceJet pilots and employees are left waiting for their salaries since March, according to internal messages reviewed by Reuters. The news comes as the cash-strapped airline is seeking an emergency loan under a government-backed credit scheme to support its operations. As of March, SpiceJet had 375 pilots on its rolls.
Ping-pong sponges, ‘black smokers’ and floating somethings: the secrets of the deep sea
The bottom of the ocean has barely been explored, but every journey to the deep reveals wondrous new lifeforms. As underwater mining gains momentum, we risk destroying one of the Earth’s last great wildernessesOn 8 March 2018, at 1.20am, Malaysian Airlines flight 370 veered off its scheduled route from Kuala Lumpur to Beijing. An hour later, military radar spotted the plane heading west over the Andaman Sea.
Ping-pong sponges, ‘black smokers’ and floating somethings: the secrets of the deep sea
The bottom of the ocean has barely been explored, but every journey to the deep reveals wondrous new lifeforms. As underwater mining gains momentum, we risk destroying one of the Earth’s last great wildernessesOn 8 March 2014, at 1.20am, Malaysian Airlines flight 370 veered off its scheduled route from Kuala Lumpur to Beijing. An hour later, military radar spotted the plane heading west over the Andaman Sea.
Government ready to take more measures to insulate economy
The Centre is ready to take more policy measures to help insulate the economy from the adverse impact of the West Asia conflict and will phase it out instead of rushing with announcements. The focus of these steps will be to ensure that there is enough availability of goods, raw material, inputs and finished products, to meet the domestic requirement, while seeking to provide stability to the Indian currency and foreign exchange flows. "More steps will be announced.