Tata Group companies tripled in market value and profit rose more than fivefold in six years as the country’s biggest conglomerate funded India’s biggest private-sector bets in aviation, semiconductors, batteries and digital commerce – businesses that together still lose nearly Rs 30,000 crore annually. Group holding company Tata Sons reported a 22% increase in FY26 … Read more
IndiGo CEO Pieter Elbers has stepped down from his role three months after the airline was hit by one of the worst flight disruptions in the Indian aviation history. The resignation is with immediate effect. The airline’s promoter Rahul Bhatia will assume the management of the airline in the interim, till the replacement is found.
CCI has observed that passengers were “left with no real choice but to accept last-minute cancellations” and were forced to seek alternatives “at significantly higher prices”. Given IndiGo’s dominant position, consumers were “effectively locked in and lacked viable alternatives.” In a 16-page order dated 4 February, the CCI has directed the Director General (DG), the … Read more
The airport operator has countered charges from telcos and said as the airport was a sensitive zone, frequent servicing, maintenance and upkeep of the infrastructure was best managed by it, and, therefore, it had opted for In Building Solution (IBS) infrastructure. File photo: Special arrangement Telecom companies are sparring with the Adani Group and have … Read more
Airfares between Mangaluru and other important cities, including Mumbai, have almost tripled even as the Union Civil Aviation Ministry ordered keeping the flight duty time limitations (FDTL) orders of the Directorate General of Civil Aviation in abeyance with immediate effect, on Friday. Mangaluru International Airport, in a statement here, said 18 flights, nine each arrivals … Read more
IndiGo has approved a capital investment of ₹7,294 crore to enable ownership of their aircraft instead of their leasing. The airline said in a statement that it has “approved a capital investment of $820 million (nearly ₹7,294 crore) in its wholly owned subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited. The funds raised by IndiGo … Read more
Vijay Mallya is the talk of the town, again. After his four-hour long podcast with influencer Raj Shamani, the government and banks have called out the ‘declared economic fugitive’ for his claims that he is being harassed by lenders even after he has repaid the outstanding debts. Meanwhile, the lenders have argued that the bankrupt … Read more
Delhi airport on Thursday formally ended its association with Turkish ground handling company Celebi Aviation for ground handling, cargo operations. The development came after aviation watchdog BCAS revoked the security clearance for Celebi Airport Services India Pvt Ltd in the “interest of national security”. Celebi Airport Services India Pvt Ltd and Celebi Delhi Cargo Terminal … Read more
Fund infusion is against the balance amounts payable for conversion of 13.14 cr warrants issued in December 2023. Warrants were issued @ Rs 50/ share. Current market price is Rs 46/ share. 75% of the warrant price would be balance payable as per regulatory requirement i.e., ~ Rs 493 cr Ajay Singh, through M/s Spice … Read more