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Exclusive | Noida international Airport operation to begin in 2024 end, construction in full swing: CEO 

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

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Summary

The IATA codes are unique codes individually allotted to airports globally which is an identity of the airport. These codes are found in tickets, boarding passes etc.

In what could be considered as a major milestone for the upcoming Noida International Airport (NIA), the International Air Transport Association (IATA) code allotted DXN as the IATA location identifier which is also called the three-letter code.

The IATA codes are unique codes individually allotted to airports globally which is an identity of the airport. These codes are found in tickets, boarding passes etc.

Christoph Schnellmann, CEO, (NIA) speaking exclusively to CNBC-TV18 said, “Excited to announce that IATA has awarded us DXN code. This is another sign that airport work is progressing, this is another milestone. DXN will be how the international travel community across the world will recognise us.”

The construction work at the airport began in June 2022 the EPC contract was awarded to TATA Projects. When asked about the progress about the construction, Schnellmann said, “Pleased with the progress of the entire construction. The construction activity is continuing under full swing, over 7000 workers are involved 24 hours. The Airport Terminal rising up the ground, ATC tower has exceeded 30 metres and will reach its full height soon and then a cabin will be added. The pavement work on the runway is happening across 3900 metres.”

The airport has also identified many international partners for various systems to operate the airport. Currently the cargo partners and fuel farm partners are being identified.

On the possibility of a test flight and update on airline partners, the Noida International Airport CEO said, “We are eager to see the first test flight movement. The test flights happen a few months prior to operations and we will conduct it next year. India is seeing a huge rebound in air traffic after the pandemic. We’re seeing strong interest from various international and domestic carriers and we are in discussions.”

On the issue of raw material prices he added, “We signed two EPC contracts with Tata Projects at a fixed price. There is no impact of fluctuations in raw material prices for us.”

When asked about when the operations will begin, Christoph Schnellmann, CEO, (NIA) said, “We are committed to our deadline and we will operationalize operations at the airport by the end of 2024. In the first phase there will be one terminal with an annual capacity of 12 million passengers, 28 aircraft stands and a 3.9-km-long North Runway with capability of handling 100,000 air traffic movement”

By the end of phase 4 the airport will have an annual capacity of 70 million passengers and two passenger terminals and two runways and the airport will be able to handle 500,000 air traffic movements.

Yamuna International Airport Pvt Ltd (VIAPL) is the concessionaire for Noida International Airport. VIAPL will design, build and operate Noida International Airport for 40 years. Noida International Airport Ltd (NIAL)’s the implementing agency on behalf of the Government of Uttar Pradesh. NIAL is owned by the Government of UP NO DA, Greater Noida and the Yamuna Expressway Industrial Development Authority (YEDA).

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

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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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IATA assigns three-letter code DXN to Jewar International Airport in Greater Noida

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

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Summary

“IATA has allotted the three-letter code — DXN — for the Noida International Airport,” the airport’s chief operating officer Kiran Jain said in Noida.

Global airlines’ body IATA on Wednesday (September 27) allotted the three-letter code DXN for the upcoming international airport at Jewar in Greater Noida.

The International Air Transport Association (IATA) is the trade body for the world’s airlines, representing some 300 airlines or 83 percent of total air traffic.

“IATA has allotted the three-letter code — DXN — for the Noida International Airport,” the airport’s chief operating officer Kiran Jain said in Noida.

Airport’s chief executive officer Christoph Schnellmann said, “The code, DXN, symbolises the airport’s proximity to Noida, Delhi and western Uttar Pradesh.” IATA assigns three-letter codes to airports around the world for their easy identification.

Yamuna International Airport Private Ltd (YIAPL), a subsidiary of Zurich Airport International AG, is developing the Greenfield airport at Jewar in Gautam Buddh Nagar, some 75 km off Delhi.

The airport is billed to be India’s largest upon completion in four phases and will be spread over an area of 5,000 sq hectares and is estimated to cost Rs 29,560 crore.

In the first phase, which is scheduled to be completed by September 2024, operations will begin with one runway and a capacity of handling 1.20 crore passengers annually by then.

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

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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

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

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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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Air India, IndiGo elected to IATA Board of Governors, IndiGo CEO Pieter Elbers to be chair in 2024

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

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Summary

Air India has been elected to the IATA Board of Governors. The Tata Sons-owned airline and IndiGo’s representation on the board reflects on India’s increased influence on the global aviation map.

Tata Sons-owned Air India was elected to the International Air Transport Association (IATA) Board of Governors at the IATA AGM held in Istanbul earlier this week. Air India’s inclusion to the board after a gap of several years is being considered a big achievement for the Indian aviation industry.

In another big development, IATA also announced that Pieter Elbers, CEO of IndiGo, will serve as Chair of the IATA BoG from June 2024, succeeding Yvonne Manzi Makolo, CEO of Rwandair.

The IATA board now has Indian representation not just from Air India but also IndiGo. Following this, the board will get insights and suggestions from the Indian market perspective. Experts also hailed the development, saying India is one of the largest aviation markets and thus having representation from Indian airlines is important.

Air India also got elected to the Executive Committee of Star Alliance for the first time.

As per an internal communication seen by CNBC-TV18, Campbell Wilson, MD and CEO of Air told employees, “We should be humbly proud that so soon after privatisation, we are already being looked at in such a light by our peers.

This more active participation at the aviation industry’s highest tables reflects our ambition to help shape its future, and to be one of its leaders. It also reflects the industry’s acknowledgement that this is a new Air India and with our friends at IndiGo also represented on the IATA BOG, a new India.”

The IATA BoG exercises an oversight and executive role, including the general management and control of the business, affairs, funds, and property of IATA, on behalf of other member airlines.

As the two domestic airlines make it to the Board, they will be included in determining, reviewing and approving IATA policy and taking action in response to specific requests from member airlines. Both Air India and IndiGo shall have an equal say in existing and future policies, which India’s increasing influence on the global aviation map.

According to experts, the last major representation from India was from Naresh Goyal, the erstwhile promoter of now discontinued Jet Airways.

Lokesh Sharma, Senior Aerospace and Defence expert told CNBC-TV18, “Tata group owned Air India has four airlines under its Umbrella, making it the second largest market player with 25 percent market share. The airline has placed one of the largest aircraft orders in the history of Indian aviation, plus they have been major operators on domestic and international routes. This makes Air India most suitable to join the IATA Board of Governors. Having them in IATA will help in creating large aviation hubs in India.”

Jitender Bhargava, former ED of Air India, meanwhile said, the inclusion of Air India and IndiGo is a clear message that the Indian aviation industry has come of age and is on the growth path. “There will be a good representation of Indian view points at IATA,” he added.

At present, IATA’s board of Governors’ comprises 31 airlines.

Air India last year joined the Federation of Indian Airlines (FIA) and Association of Asia Pacific Airlines (AAPA).

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

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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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Air cargo sees 8% dip in 2022, goes close to pre-pandemic levels

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

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Summary

The year 2022 ended with mixed signals, as global new export orders grew only in Germany, US and Japan while new export orders shrunk in rest of the markets.

Demand for air cargo dropped significantly in 2022, down 8% from the year before and 1.6% below the pre-pandemic levels of 2019, according to 2022 global air freight markets data disclosed by International Air Transport Association (IATA). While capacity in 2022 was up 3% in comparison to 2021, it was down 8.2% when compared to 2019 pre-COVID levels.

December saw performance softening, as global demand was down 15.3% in comparison to 2021. Global capacity was down 2.2% when compared to 2021, which is the tenth consecutive monthly contraction.

Willie Walsh, DG, IATA said “Due to political and economic uncertainties, air cargo performance declined compared to the extraordinary levels of 2021. Continuing measures by key governments to fight inflation by cooling economies are expected to result in a further decline in cargo volumes in 2023 to -5.6% vs 2019.”

He further said, ‘It will take time for measures to bite into cargo rates. Average yields and total revenue for 2023 should remain above pre-pandemic level. This will provide respite in a challenging trading environment this year.”

The year 2022 ended with mixed signals, as global new export orders grew only in Germany, US and Japan while new export orders shrunk in rest of the markets.

Asia-Pacific airlines posted 8.8% decrease in demand in 2022 in comparison to 2021 and a capacity increase of 0.5%. Demand was down 7.8% and capacity declined 17.2% in comparison to pre-pandemic levels.

Asia-Pacific airlines recorded the worst performance of all regions in December with a 21.2% decline in demand. Airlines continue to be impacted by lower levels of trade and manufacturing activity and disruptions in supply chains due to China.

Latin American carriers posted the strongest performance of all regions, with a 13.1% increase in demand in and capacity increase of 27.1% European carriers posted the worst performance of all regions with 11.5% decrease in demand and capacity increase of 0.5%.

Also read: ​IATA expects airlines to make profits in 2023

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

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

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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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What are the steps to getting your own travel agency started in India?

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

 Listen to the Article (6 Minutes)

Summary

One of the most crucial steps in answering the question of “how to establish a tour company in India” is to register as a legitimate tour operator or agency with the Government of India.

Tourism in India is expanding at a pace of 14% per year despite the global epidemic. There has never been a better moment to launch a travel agency in the nation than right now. However, planning and forethought are required.

Getting your travel agency off the ground involves a number of steps, including acquiring the necessary licences, forming partnerships with hotels and airlines, sorting out visa processes, and shopping around for the best business financing options.

Below, we’ll go into more specifics about our investigation.

1) Figure out what sort of business you want to start.

When you open up a travel agency, will you be the lone proprietor, or will you have other business partners? You may file for incorporation as either a limited liability company or a private limited company, depending on the composition of the firm’s ownership (LLP). However, be aware that the registration requirements may change based on your choice. Likewise, subsidies and advantages, such as low-interest rates on business loans, would vary widely amongst financial institutions.

ALSO READ: Camping in South India? Check out these top 3 cities to set up your tent

2) Initiate IATA registration

There is no need for a travel company that specialises in booking rail tickets and vacation packages in the current market. Transportation via plane is the most vital to providing, but you should also include other options. Since the vast majority of bus, train, and boat trips stay inside national borders, the International Air Transport Association (IATA) stamp of approval is not required when making international flight reservations.

Validation by the IATA or International Air Transport Association lends legitimacy to any travel firm, no matter how long it’s been in business. The association only certifies travel agencies with its stamp of approval if they meet strict criteria. In addition to offering several advantages and aviation services worldwide, it also hosts free training courses for the betterment of travel agents.

3) Get officially recognised by the Indian government.

One of the most crucial steps in answering the question of “how to establish a tour company in India” is to register as a legitimate tour operator or agency with the Government of India. It’s not required, however, it’s something we highly suggest doing. It’s a seal that verifies your organisation’s credibility, therefore it’s worth repeating.

Tourists in India anticipate a particular level of service from any travel firm recognised by the government. That’s why they’ll choose you instead of the unlicensed competition.

4) Register for a GST number

The Goods and Services Tax (GST) registration is an essential step for every Indian travel operator. Goods and Services Tax collection is an essential part of operating a firm in this sector and cannot occur without this registration. So, don’t start your travel agency business until you have your GSTIN number in hand.

 

Do you already have a solid business strategy for your travel agency and are now seeking for funding? You may get company financing at some of the lowest possible interest rates from many banks and companies, which will be a great boon as you attempt to launch and maintain your travel agency.

Before applying, you can see what your monthly payments would look like by using the business loan EMI calculator.

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

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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

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

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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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India suspends tourist visas issued to Chinese nationals: IATA

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

 Listen to the Article (6 Minutes)

Summary

India has been raising with China the plight of approximately 22,000 Indian students enrolled in Chinese universities who are unable to go back for physical classes. However, the neighbouring country has refused to let them enter till date.

India has suspended tourist visas issued to Chinese nationals, global airlines body IATA told its member carriers on April 20.

India has been raising with China the plight of approximately 22,000 Indian students enrolled in Chinese universities who are unable to go back for physical classes. However, the neighbouring country has refused to let them enter till date.

These students had to leave their studies in China and come to India because of the COVID-19 pandemic in the beginning of 2020. In a circular issued on April 20 regarding India, the International Air Transport Association (IATA) said, “Tourist visas issued to nationals of China (People’s Republic) are no longer valid.” It said the following passengers are allowed to enter India — nationals of Bhutan, India, Maldives and Nepal; passengers with a residence permit issued by India; passengers with visa or an e-visa issued by India; passengers with an overseas citizen of India (OCI) card or booklet; passengers with a persons of Indian origin (PIO) card; and passengers with a diplomatic passport.

Also Read: Shanghai erects mesh barriers outside COVID-hit buildings; sparks fresh public outcry

The IATA also said that tourist visas with a validity of 10 years are no longer valid. The IATA is a global airlines body with around 290 members that comprises more than 80 percent of global air traffic.

India has urged Beijing to adopt a “congenial stance” in the matter as the continuation of the strict restrictions is putting the academic careers of thousands of Indian students in jeopardy, MEA spokesperson Arindam Bagchi had said on March 17. Bagchi said a Chinese foreign ministry spokesperson had stated on February 8 that China was looking into the matter in a coordinated manner and that arrangements for allowing foreign students to return to China were being examined. “But let me clarify that till date, the Chinese side has not given any categorical response about the return of Indian students. We will continue to urge the Chinese side to adopt a congenial stance in the interest of our students and that they facilitate an early return to China so that our students can pursue their studies,” Bagchi said.

He said the issue was also taken up with Chinese foreign minister Wang Yi by External Affairs Minister S Jaishankar during a meeting in Dushanbe in September last year. The two foreign ministers had held talks in the Tajik capital city on the sidelines of a conclave of the Shanghai Cooperation Organisation (SCO).

Also Read: View: The infrastructure bull in China’s shop – The Great Wall syndrome

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

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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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IATA: Net-zero carbon emissions by 2050

The International Air Transport Association (IATA) on Wednesday has approved a resolution to achieve net-zero carbon emissions by 2050. This commitment will align with the 2015 Paris accord for global warming, to not exceed 1.5°C.

At least 1.8 gigatons of carbon must be abated for 10 billion people to fly in 2050. A cumulative total of 21.2 gigatons of carbon will be abated between now and 2050.

“Achieving sustainable global connectivity cannot be accomplished on the backs of airlines alone. All parts of the aviation industry must work together within a supportive government policy framework to deliver the massive changes that are needed, including an energy transition. That is no different than what we are seeing in other industries,” said IATA’s Director General Willie Walsh.

He added, “Road transport sustainability efforts, for example, are not being advanced by drivers building electric vehicles. Governments are providing policies and financial incentives for infrastructure providers, manufacturers and car owners to be able to collectively make the changes needed for a sustainable future. The same should apply to aviation.”

IATA’s plan is to abate CO2 from in-sector solutions like sustainable aviation fuels (SAF). New aircraft tech, more efficient ops and infra and development of electric and hydrogen power emissions that cannot eliminate at source will be eliminated through out-of-sector options.

Watch the video for more.

 5 Minutes Read

Airlines warn erratic global COVID-19 rules could delay recovery

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

 Listen to the Article (6 Minutes)

Summary

The International Air Transport Association (IATA), which groups 290 airlines, said confusion over travel restrictions were holding back the industry’s fragile recovery after the pandemic plunged air travel into its worst ever downturn.

Global airlines on Tuesday wrapped up their first meeting since COVID-19 brought their industry to its knees, voicing optimism about pent-up demand but desperate for governments to harmonize disjointed border rules to avoid slipping back into recession.

The International Air Transport Association (IATA), which groups 290 airlines, said confusion over travel restrictions were holding back the industry’s fragile recovery after the pandemic plunged air travel into its worst ever downturn.

“People want to fly. We’ve seen strong evidence of that,” said Director General Willie Walsh. “They can’t fly because we have restrictions that are impeding international travel.”

IATA expects international travel to double next year compared with the depressed levels seen during the pandemic and reach 44% of pre-crisis 2019 levels. In contrast, domestic travel is tipped to reach 93% of the pre-pandemic levels.

The trade group, which includes dozens of state-owned carriers, blamed that gap on wide variations in entry rules and testing requirements in the top 50 air travel markets.

Even some of the airline and leasing company leaders trying to attend the industry’s annual gathering in Boston were unable to travel or had to carve out extra time for quarantine.

Airlines called for an end to restrictions on vaccinated travelers and for common health protocols at borders, though global coordination in aviation tends to move at a deliberate pace.

“Frankly, governments haven’t made it easy for airlines or for the traveling public to understand what the rules are to fly,” said Joanna Geraghty, president of JetBlue which hosted the gathering in a hotel shared with domestic tourists.

Even so, the head of Dubai’s Emirates, who has been among the most bullish executives on the prospects for recovery once restrictions end, said bookings in markets that were reopening like Britain and the United States had “gone up exponentially.”

“That reflects a bow-wave of demand that we are seeing everywhere,” its president Tim Clark said. “The demand for air travel will restore itself… sooner rather than later.”

ATLANTIC TEST

Airlines were buoyed by the Biden administration’s plan to reopen the United States in November to air travelers from 33 countries including in Europe on the vital trans-Atlantic run.

But airlines left the Boston gathering as they had arrived, with severely strained balance sheets, and Clark said most would remain risk-averse and focused on recouping cash for 2-3 years.

IATA warned serious challenges remained for carriers, while venting frustration at airports and other suppliers for not doing enough to share the pain inflicted by the crisis.

While the White House has not set a date for lifting travel restrictions on Europeans, JetBlue expects it to happen ahead of the U.S. Thanksgiving holiday next month.

“If the reopening is delayed, we are going to face consequences across the industry,” Chief Executive Robin Hayes said after chairing the Oct. 3-5 conference, which also agreed a target to reach net zero emissions in 2050.

United Airlines Chief Executive Scott Kirby said the bookings for trans-Atlantic flights last week were higher than at the same period in 2019.

The world’s largest leasing company, AerCap, said a successful reopening of the world’s most important long-haul market would set a trend for other markets to follow.

“Airlines… don’t have the resilience they had,” Chief Executive Aengus Kelly told an audience of airline leaders. “They just can’t afford for this to go wrong.”

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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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
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

International air travel in 2021 will be just 22% of 2019 levels; remains in deep crisis: IATA

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

 Listen to the Article (6 Minutes)

Summary

Under an air bubble arrangement, airlines of one country are permitted to operate limited International passenger flights to the other’s territory with specific restrictions.

International air travel continues to remain in deep crisis and will be just 22 per cent in 2021 as compared to the 2019 levels, said Conrad Clifford, Deputy Director General of global airlines body IATA on Monday. “The lack of harmonised border measures, restrictions and procedures is a major cause of the failure to restart (international) travel,” he said during a media briefing here at the 77th annual general meeting of International Air Transport Association (IATA).

According to aviation industry sources, just around 20 per cent of pre-Covid international flights are being operated from India right now. Scheduled international passenger flights have been suspended in India since March 23, 2020, due to the coronavirus pandemic. However, special flights have been permitted under “air bubble” arrangements that India has formed with approximately 28 countries. Under an air bubble arrangement, airlines of one country are permitted to operate limited International passenger flights to the other’s territory with specific restrictions.

When IATA analysed the entry restrictions of the top 50 air travel markets of the world, it was observed that seven countries have no restrictions, five have no entry restrictions but you might still have to quarantine, Clifford mentioned here. “Meanwhile, 38 have restrictions of the bewildering variety,” he stated.

For example, out of the 38 countries where restrictions are still in place, 24 differentiate based on some sort of country risk categorisation, but there is little consistency in the risk categorisation, Clifford said. “The same country may appear on one state’s green list, another state’s amber list, and another state’s red list,” he added. On Sunday, Lufthansa group’s CEO Carsten Spohr had said here that restricting air traffic between India and Germany is hurting both the economies and the airline group is eagerly waiting for the Indian government to allow more flights between the two countries. Indian aviation regulator DGCA currently allows Lufthansa to operate just 10 weekly flights from India to Germany, after it had accused the airline in September 2020 of being beneficiary of “inequitable distribution” of traffic.

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

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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
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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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?

 5 Minutes Read

SpiceJet to conduct trial of IATA app that stores Covid certificates for international travel

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

 Listen to the Article (6 Minutes)

Summary

The mobile app has been built by the International Air Transport Association (IATA), which is a global airlines body that has around 290 airlines as its members.

New Delhi: SpiceJet on Thursday said it will conduct the trial of IATA Travel Pass mobile application that allows travellers to store and manage their verified certificates regarding COVID-19 tests or vaccines.

“The trial will be conducted on flights out of Mumbai to Male effective August 23, 2021,” the airline said in a statement.

IATA Travel Pass offers secure and efficient alternative to current paper processes used to manage health requirements in the wake of enormous testing and vaccine verifications, the budget carrier stated.

The app manages and verifies the traveller’s COVID-19 status in line with governments’ health and border requirements, SpiceJet noted.

The mobile app has been built by the International Air Transport Association (IATA), which is a global airlines body that has around 290 airlines as its members.

The statement said SpiceHealth has been on-boarded by IATA as a lab partner for the Travel Pass trial. SpiceHealth is a healthcare company founded by SpiceJet’s promoters Ajay Singh and Avani Singh.

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?