Domestic airlines seek financial aid, cut in capacity cap to deal with COVID impact

CNBC-TV18 learns that domestic airline companies have knocked on the government’s door seeking financial assistance in order to recover from the COVID blow.

Anu Sharma reports that some of the airlines have requested for reduction in capacity cap from 80 percent to 60 percent as there has been steep fall in bookings after restrictions by several states. Airlines also demanded strict enforcement of lower fare limit on routes.

Watch video for more.

 5 Minutes Read

Rate of doubling COVID-19 cases in India slows to 6.2 days, says govt

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The total number of coronavirus cases in India is now closer to 14,000 and the death toll is above 450. But, there are some positive signs – more than 250 patients have recovered in a single-day, the highest so far.

The total number of coronavirus cases in India is now closer to 14,000 and the death toll is above 450. But, there are some positive signs – more than 250 patients have recovered in a single-day, the highest so far.

The rate at which the cases have been doubling has also slowed. Earlier, cases were doubling every 3 days, that has now slowed to 6.2 days, according to the government.

That’s not all, the average growth of new cases is also down 40 percent, reports Anu Sharma.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Will become a global player in defence sector in 6-7 years, says Bharat Forge’s Baba Kalyani

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Bharat Forge managing director Baba Kalyani said on Wednesday that the company’s primary focus will continue to be automotive and automotive-related businesses, and it wants to be a global player in defence sector in five-seven years.

Bharat Forge managing director Baba Kalyani said on Wednesday that the company’s primary focus will continue to be automotive and automotive-related businesses, and it wants to be a global player in defence sector in five-seven years.

Kalyani told CNBC-TV18 at Defence Expo in Lucknow that the company has always made shifts in every five to 10 years into what it thought the future was going to be.

In 2008, Bharat Forge started its defence sector business outside automotive sector.

“It is not just the Indian defence that we will serve but in time to come, in let us say 5-7 years we will be a global player in this business.”

When Prime Minister Narerndra Modi came to power for his first term and he had in December 2014 the Make in India initiative, it was very clear that this is the direction that is going to involve a lot of Indian industry, especially in manufacturing, he added.

“I think what is very important for us is a lot of metal and we are good at forging metals, we are good at machining metals, we are good at metallurgy, we are good at making steel which is required for this.”

“So. this is the kind of business that fitted our overall concept of a new area to get into and we wholeheartedly went into it. Then we developed the capability, technology, we created engineers who started understanding the know how and know why or everything and now we can design and build almost any artillery system ourselves.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

Premium traffic on the rise, says Leslie Thng of Vistara

Vistara Singapore Airlines Tata

“Premium traffic for Vistara has shown a rise despite the economic slowdown” — that’s the word coming in from Leslie Thng, the CEO of Vistara. The chief executive of the full-service airline was speaking to CNBC-TV18’s Anu Sharma on the sidelines of the launch of ‘Club Vistara SBI Card’ a part of the airline’s frequent flyer programme.

Thng said, “Fare is always a function of supply and demand. If the demand is greater than supply, the fare will go up. We continuously make an adjustment to the fare.”

He further added, “The premium traffic on Vistara has actually increased. When we launch a new flight, a new route whether it is domestic or international, there will be time required for the market to accept the new route. So, that is where we are investing resources and we have long term view in terms of whether the market is sustainable, if not we would not even venture into the market.”