5 Minutes Read

Celebi Aviation to focus on technology led growth eyes Air India ground handling unit

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

 Listen to the Article (6 Minutes)

Summary

Celebi Aviation, a ground handling company, plans to focus on technology-led expansion for its warehousing and cargo services, with the intention of fully recovering its ground handling business once foreign flights reach pre-covid levels in India.

Ground handling company Celebi Aviation will focus on technology-led growth for its warehouse and cargo services and is hopeful of complete recovery in its ground handling business once international flights reach pre-covid level in India.

The company has so far invested over $220 million in India with investments catering to upgrading infrastructure to handle more than 700,000 tons per year, increasing perishable cargo capacity to 65,000 tons per year, undertaking security initiatives and adding additional handling equipment and a dedicated transshipment centre. Specifically over the last two years, the company said that it has dedicated its energy towards investment in technology and digitising the workspace.

Going forward, Celebi aims to enhance its warehouse management system to include new features to bring in more productivity and also wants to enable extensive digitisation.

Also read: SpiceJet’s Ajay Singh wants to offer in-flight broadband internet service to flyers soon

“We shall be exploring technologies like IOT, AI, Blockchain in different areas like temperature monitoring, data integration with airport systems, routine tasks automation etc. Adopting tools for digitisation of manual paper-based processes for improved efficiency would be actively pursued,” Mr Kamesh Peri, CEO-India, Çelebi Delhi Cargo told CNBC-TV18 in an e-mail interview.

While the company’s ground handling business suffered due to ban on scheduled international commercial flights for almost two years, the air cargo market came under the spotlight and emerged as a major revenue stream with revenue from cargo in the Indian aviation sector growing in the last year from Rs 1,498 crore to Rs 2,300 crore.

“The industry is getting back very slowly as we learn to co-exist with the virus. With this, we’re hopeful that the airlines will start returning back to their pre Covid capacity soon. …the business (ground handling) for us mostly depends on the demand for international flights. We expect that to come back steadily to pre Covid levels by next year early. Our Cargo warehousing stream is almost back to old levels,” Mr Murali Ramachandra, CEO-India Celebi told CNBC-TV18 in the e-mail interview.

Currently present at Mumbai, Delhi, Bengaluru, Hyderabad, Cochin and Ahmedabad, the company is planning to expand operations at other airports as well. The company ventured into cargo and warehousing services in 2009 with the establishment of Delhi Cargo Terminal Management India Pvt Ltd, a joint venture between Delhi airport and Celebi Aviation.

“It was only during the pandemic that the Indian air cargo could catch the market spotlight when the financially crashing airlines found solace by focusing their efforts on the cargo operations, which comparatively flourished on the back of pharma, perishables and e-commerce transportation.

Under the ‘Atma Nirbhar Bharat’ initiative of the Government of India, domestic freighters in the country have increased from 8 to 28, a surge of almost 3.5 times. Going ahead, demand is expected to rise faster than passenger belly capacity growth,” Peri added.

Also read: DGCA warns airlines against offering passengers unserviceable seats

While the company has pursued organic growth opportunities in the past, it is also looking at expansion via inorganic route.

“On the Cargo front, we are looking at emerging opportunities in new airports. While most would be pursued on our own, in few others we would work with partners,” Peri added.

In ground handling segment as well, the company is open to “meaningful” opportunities.

“We won the tender to provide BME (Bridge Mounted Equipment) services at Bangalore Airport and have already operationalized the same. We have also won the ground handling licence at the New Goa Airport and at Ahmedabad Airport,” Ramachandra said.

Bridge Mounted Equipment consists of external Pre-Conditioned Air units and Fixed Electrical Ground Power units. BME allows airlines to achieve safer, and more economical operations during ground time by keeping its auxiliary power switched off.

In continuation with the company’s inorganic growth strategy, Celebi is also eyeing Air India’s ground handling company Air India Air Transport Services and is expected to bid once the government invites applications.

“Celebi was one of the first to show interest when the government proposed to put AIATS up for privatisation in 2019. If it is put up for sale by the Government, we shall definitely be interested,” Ramachandra added.

Air India’s ground handling unit Air India Air Transport Services Ltd is yet to be privatised and currently provides ground handling services at over 60 airports across the country.

Also read: Jet Airways secures flying permit, says will gatecrash aviation party with Akasa air

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?

 5 Minutes Read

Probe into SpiceJet Durgapur incident now with aircraft accidents bureau

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

 Listen to the Article (6 Minutes)

Summary

The DGCA has started an inspection of the entire fleet of SpiceJet as a regulatory measure.  The inspection is in progress and the regulator has covered about half of the airline’s fleet. 

The Aircraft Accident Investigation Bureau (AAIB) has taken over the investigation of the May 1 incident involving a SpiceJet flight in Durgapur, in which 17 people were injured, senior government officials told CNBC-TV18.

The investigation has come under the purview of AAIB after the Directorate General of Civil Aviation (GDCA) submitted a preliminary investigation report on the matter.

Simultaneously, the DGCA has also started an inspection of the entire fleet of SpiceJet as a regulatory measure.  The inspection is in progress and the regulator has covered about half of the airline’s fleet.

“Deficiencies are being identified and addressed. We will not let an aircraft with any safety issue fly without it being properly attended. We expect things to improve shortly,” a senior government official said.


Also read: Flyer recounts 5 minutes of horror on SpiceJet flight from Mumbai to Durgapur


As per initial investigation, a SpiceJet B737-800 aircraft VT-SLH while operating from Mumbai to Durgapur encountered severe turbulence during descent and during this period, the autopilot was disengaged for two minutes and the crew manually flew the aircraft.

As a result of the severe turbulence, 17 out of 195 passengers on board were injured, including fourteen passengers and three cabin crew members. Currently, three out of the 17 injured are being treated for head and spinal injuries, with two of them in the ICU. During the turbulence, the overhead panels opened and oxygen masks fell off. Some of the armrests and overhead decorative panels were damaged while the galley items were seen strewn across on the floor, as per the initial DGCA report.

The aircraft is currently positioned at Kolkata airport.

As an immediate step, DGCA has off-rostered the involved crew, the aircraft maintenance engineer who released the aircraft from Durgapur and the person in charge of the maintenance control centre of SpiceJet, pending investigation.

Also read: SpiceJet’s 737 Max aircraft returns to Chennai after engine snag, plane grounded

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?

 5 Minutes Read

IndiGo hikes salaries of pilots by 8% from April 1

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

 Listen to the Article (6 Minutes)

Summary

IndiGo has hiked the salaries of its pilots by 8 percent and stated that it plans to increase them by 6.5 percent from November in case there are no further disruptions to the flight operations.

India’s largest airline IndiGo has hiked the salaries of its pilots by 8 percent with effect from today.

The airline had implemented salary cuts across several categories of employees, including pilots, due to decline in revenues owing to COVID-induced low demand over the last two years.

The airline has further stated that it plans to increase the salaries of pilots by 6.5 percent from November in case there are no further disruptions to the flight operations.

“Now, as we have established continuous steady operations, on behalf of our Managing Director, the board of directors and the senior Leadership team, I am pleased to announce an upwards revision of 8 percent in salaries of all our Pilots with effect from 1st April, 2022. The HR team would share your revised salary structure in the coming weeks. Further, as we look forward to a positive revenue environment and hopefully we don’t witness any further disruptions to operations, we also plan to implement an additional 6.5 percent revision w.e.f 1st November, 2022,” Captain Ashim Mittra – Senior Vice President, Flight Ops, IndiGo, told the pilots in a mail.

While the demand for air travel was severely impacted in India during the first two waves of coronavirus, the sentiment recovered rapidly after the third wave, witnessed predominantly in the month of January-February of this year.

India has also resumed scheduled international passenger flights from March 27 and several airlines, including IndiGo, are betting big on international flights on the back of strong revenue potential.

IndiGo plans to resume international flights on around 150 international routes through the month of April and aims to restore pre-COVID international flights deployment.

The domestic traffic is also witnessing strong passenger sentiment at around 80-85 percent of pre-COVID level with recovery led by corporate traffic.

Also Read: IndiGo’s Chief Commercial Officer Willy Boulter to resign in 4 months

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?

 5 Minutes Read

IGRUA completes 19,000 flying hours in 2021-22

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

 Listen to the Article (6 Minutes)

Summary

Indira Gandhi Rashtriya Uran Akademi (IGRUA) has completed a total of 19,110 flying hours via a fleet of 18 aircraft in financial year 2021-22.

Indian flying academy Indira Gandhi Rashtriya Uran Akademi (IGRUA) completed the target of 19,000 flying hours, its highest ever since 1986, in the recently concluded financial year of 2021-22.

The academy has completed a total of 19,110 flying hours via a fleet of 18 aircraft in financial year 2021-22.

The previous record was registered in 2013-14 when the academy had completed 18,776 flying hours but with a fleet of 24 aircraft.

IGRUA’s per aircraft utilisation also registered a milestone by crossing the mark of 1000 hours per aircraft per annum in 2021-22 at 1062 hours per annum. The previous record was 782 hours per aircraft per annum in 2013-14.

In 2020-21, IGRUA completed 13,282 flying hours and produced 62 Commercial Pilot License holders and completed 14,830 hours and produced 67 CPL holders in 2019-20.

“IGRUA is likely to complete 20,000 flying hours in 2022-23,” Krishnendu Gupta, Director at IGRUA said in a statement.

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?

 5 Minutes Read

Road ministry asks CFEES to investigate Ola and Okinawa electric scooter fire cases

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

 Listen to the Article (6 Minutes)

Summary

The road ministry has written to CFEES to investigate the circumstances leading to the fire incidents in Ola and Okinawa e-scooters, the sources said.

The Ministry of Road Transport and Highways has requested the Centre for Fire, Explosive and Environment Safety (CFEES) to investigate the fire and explosion cases in the electric scooters of Ola and Okinawa, sources told CNBC-TV18.

The ministry has written to CFEES to investigate the circumstances leading to the fire incidents in Ola and Okinawa e-scooters, the sources said. It has asked CFEES to submit findings of investigation report, along with remedial measures for improvement in each of the two cases, they added.

An early action has been solicited by the ministry from CFEES in this matter, as per the sources.

A fire incident had taken place on March 26 in the S1 Pro model of Ola Electric scooter in Dhanori area of Pune and in Praise Pro model of Okinawa electric scooter at Vellore in Tamil Nadu.

Delhi-based CFEES comes under the SAM (System Analysis and Modelling) cluster of Defence Research and Development Organisation (DRDO) labs.

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?

 5 Minutes Read

After two years of ban, India opens up over 3,000 international flights per week

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

 Listen to the Article (6 Minutes)

Summary

The Directorate General of Civil Aviation (DGCA) has approved Indian airlines to operate 1,466 weekly departures to 43 destinations in 27 countries.

The two-year-long ban on commercial international flights from March 23, 2020, has finally been scrapped from today. The Indian aviation regulator has approved foreign and Indian airlines to operate 3,249 weekly international departures during the summer schedule—from March 27 till October 29.

The Directorate General of Civil Aviation (DGCA) has approved Indian airlines to operate 1,466 weekly departures to 43 destinations in 27 countries.

IndiGo, the largest domestic airline which has big plans for international expansion, has been approved to operate 505 international departures per week, followed by Air India at 361 weekly departures, Air India Express at 340 weekly departures, SpiceJet at 130, GoFIRST at 74, and Vistara at 56 weekly flight departures.

After taking over Air India from the Indian government, the Tata Group plans to focus on expanding international routes, especially to the US, the group recently told CNBC-TV18.

Indian airlines are approved to operate to the United Arab Emirates (UAE), Kuwait, Singapore, Thailand, Sri Lanka, Qatar, Maldives, Oman, Saudi Arabia, Nepal, Bangladesh, Turkey, Malaysia, the UK, France, Kenya, Germany, the US, Canada, Myanmar, Australia, Israel, Bahrain, South Korea, Japan, Hong Kong, and Russia.

In addition, 60 foreign airlines from 40 countries have also been approved by the DGCA to operate 1,783 departures per week to/from India in the summer schedule. Salam Air, Air Arabia Abu Dhabi, Qantas and American Airlines are among the 60 foreign carriers on the list.

Foreign airlines are approved to operate to/from Mauritius, Malaysia, Thailand, Turkey, the US, Iraq, Kenya, Bangladesh, Germany, Singapore, Yemen, Sri Lanka, Bahrain, Maldives, Nepal, Iran, Uzbekistan, Saudi Arabia, Switzerland, Kuwait, Tanzania, Netherlands, France, Japan, Rwanda, Russia, UAE Australia, Qatar, Ethiopia, Oman, Seychelles, Kazakhstan, UK, Myanmar, Canada, Finland, Poland, Bhutan, and Egypt.

Emirates has been approved to operate the maximum number of departures among all foreign carriers at 170 weekly departures, followed by Sri Lanka Airlines at 128, Oman Air at 115, Air Arabia at 110, and Qatar Airways at 99 weekly departures. US’ United Airlines is approved to operate 28 weekly departures, while American Airlines is approved to operate seven.

Despite the ban, few people were travelling internationally through the Indian government’s air bubble arrangements with various countries. Now, with the bans lifted the airline industry will be able to recover some losses due to the negligible operations in the past two years.

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?

 5 Minutes Read

EaseMyTrip sees 40%-50% jump in advance air ticket bookings across India for Holi weekend

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

 Listen to the Article (6 Minutes)

Summary

There has been a growth in travel sentiment as the bookings for long weekends have grown multi-fold and that is a strong testament to the underlying pent-up travel demand, travel agency EaseMyTrip said today.

The upcoming long weekend is set to mark a major milestone in demand for the travel sector. While a wide percentage of people are expected to visit their family and friends to celebrate the festival of Holi, the onset of Holi on a Friday has also resulted in mini-vacation plans for many.

There has been a growth in travel sentiment as the bookings for long weekends have grown multi-fold and that is a strong testament to the underlying pent-up travel demand, travel agency EaseMyTrip said today.

EaseMyTrip has seen a 40-50 percent jump in advance air ticket bookings across India for the long weekend of Holi and bookings to and from states such as Goa, Jammu, and Kashmir, Himachal Pradesh have also risen by 40 percent.

Also Read: Domestic aviation close to reaching ‘pre-COVID’ level, says Jyotiraditya Scindia

The demand is also strong for nearby international destinations such as Dubai and Sri Lanka.

Owing to the heavy rush of air traffic and rising fuel costs due to the Russia-Ukraine conflict, data from EaseMyTrip also shows a 20 percent rise in air fares for the long weekend travel period.

Interestingly, travellers are also showcasing a strong preference for five-star hotels during this period, possibly due to the growing requirement for higher standards of sanitization. While the traveler sentiment has been strong over the recent weeks, there is still a sense of caution as there has been a rise in last-minute travel bookings and approximately 30-40 percent of travellers are opting for flexible bookings and cancellation policies or refund measures while making bookings.

Also Read: India sees recovery in domestic aviation, airlines to deploy more flights in summer schedule

“With the growth in leisure travel, we are expecting a huge rise in demand for the coming months, which is expected to peak during the summer season. The travel sentiment is strongly reviving as we are witnessing an increasing demand for offbeat and international destinations, which is an optimistic step towards complete travel normalcy. This momentum will continue further as we are expecting the pent-up travel demand to sustain for the whole year,” Nishant Pitti, CEO, and co-founder, EaseMyTrip said.

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?

 5 Minutes Read

India sees recovery in domestic aviation, airlines to deploy more flights in summer schedule

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

 Listen to the Article (6 Minutes)

Summary

As per the summer schedule finalised by the Directorate General of Civil Aviation, airlines in India will operate 25,309 departures per week in the summer schedule, effective from March 27-October 29.

There are clear indications of recovery in the domestic aviation market as airlines will deploy 10 percent more capacity in the summer schedule of 2022 as compared to the previous year.

As per the summer schedule finalised by the Directorate General of Civil Aviation, airlines in India will operate 25,309 departures per week in the summer schedule, effective from March 27-October 29.

The departures per week in the summer schedule of 2022 are over 10 percent higher than the 2021 summer schedule weekly departures or 22,980 flights.

Also Read: Regular international flight operation to resume from March 27: Ministry of civil aviation

IndiGo, the largest airline in India, will operate 11,130 departures per week, while the second-highest departures will be operated by SpiceJet at 4,192 flights, followed by GoAir at 2,557 weekly flights and Air India at 2,456 flights.

The summer schedule of 2022 has included 10 airlines, namely IndiGo, SpiceJet, GoAir, Air India, Vistara, AirAsia India, Alliance Air, TruJet, Fly Big, and Star Air.

The departures have been finalised for 112 airports and among these, Pondicherry, Gondia, and Ziro are the new airports that are likely to be connected by domestic airlines in the summer schedule of 2022.

Also Read: Aviation ministry invites applications from drone industry for PLI scheme

TruJet, which has been facing financial issues since last year, is the only airline that will see a reduction in weekly flights as compared to 2021 at 355 departures, 18 percent down on year.

While the highest growth rate has been registered by Alliance Air at 982 departures, 17.6 percent higher on year, followed by AirAsia India at 1,601 weekly flights, 16 percent up on year and SpiceJet at 4,192 flights per week, 14.2 percent higher on year and IndiGo weekly departures at 11,130 flights are 10.4 percent up on year.

The weekly departures in the summer schedule of 2022 are around 4 percent higher than the summer schedule of 2021, where the weekly departures stood at 24,409 flights.

Also Read: View: India’s airlines and the credit conundrum

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?

 5 Minutes Read

Explained: Impact of Russia-Ukraine war on global aviation and why is that airspace important?

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

 Listen to the Article (6 Minutes)

Summary

Russian airspace has a unique advantage due to geography, provides crucial Asia-Europe corridors, and hence airlines save money and fuel. The immediate impact is the concern over longer routes, extra fuel for airlines, impact on cargo traffic as global supply-chain is set to be hit, flight cancellations, and the increase in usage of alternative routes such as Kazakhstan’s airspace usage has been tripled in the recent days.

Russia’s invasion of Ukraine and airspace restrictions pose huge challenges to global aviation as hundreds of flights that used to fly over Russian air space now have to opt for alternative routes, leading to an increase in operating costs due to more fuel burn. The sector faces a double whammy as ATF prices are also rising due to soaring crude prices.

Airlines are bracing for impact as the global aviation map could be redrawn due to Russia’s invasion of Ukraine. Ukraine has been closed to civilian flights since February 24 after Russia escalated military advances in the country. After Moscow’s invasion of Ukraine, the European Union, Canada has shut its airspace to Russian aircraft. The US too has also banned Russian aircraft from American airspace.

In line with global giants imposing sanctions against Russia, Boeing and Airbus have also suspended maintenance support to the Russian fleet. Do remember that Russian flag carrier Aeroflot, which flies to 146 destinations worldwide, has a mixed fleet of Airbus and Boeing aircraft. Russia has also retaliated to the flight ban and has shut its air space to around 40 nations.

Also Read: Kyiv, Kharkiv, Kherson, Berdyansk, Mariupol: The significance of the 5 Ukrainian cities that Russia is gunning for

Why is Russian airspace important?

Russian airspace has a unique advantage due to geography, provides crucial Asia-Europe corridors, and hence airlines save money and fuel.

The immediate impact is the concern over longer routes, extra fuel for airlines, impact on cargo traffic as global supply-chain is set to be hit, flight cancellations, and the increase in usage of alternative routes such as Kazakhstan’s airspace usage has been tripled in the recent days. Also, globally there is caution among airlines due to the conflict zone as in the past we have seen the MH17 incident where a missile shot down Malaysia Airlines passenger plane, killing all on board, in Ukraine airspace in 2014 during the then-ongoing conflict.

For some airlines, the impact is more severe such as Finland’s Fin Air’s core business model is based on shorter routes via Russian air space, after the ban, the airline says most Asia flights are now neither financially sustainable nor competitive.

Also Read: Domestic aviation sector may post Rs 26,000-cr net loss this fiscal: ICRA

Fin Air managed the shortest flight time between Europe and Asia as it has an agreement with Russia to fly 80 flights a week over Siberia.

“Negative financial effects on Fin air are considerable due to closure of Russian air space. Circulation of Russian air space extends flight time to Asia to such an extent that operation of most cargo and passenger flights to Asia is neither financially sustainable nor competitive,” Fin Air said on the implications of the closure of Russian air space.

For Virgin Atlantic, flight paths have to be adjusted for some of its services between the UK, Pakistan, and India. Flight times on these routes will be extended by between 15 minutes and an hour.

Also Read: New Air India CEO Ilker Ayci declines offer 2 weeks after appointment by Tata group

There are nations that continue to use Russian air space including India. Indian airline Air India uses Russian air space for flights to the US, Paris, Frankfurt.

Understanding the air space a bit more

Air India which flies to New York via Russia completes the journey in 14:28 hours whereas American Airlines which uses an alternative route takes 15:49 hours. For Frankfurt to Seoul, Lufthansa used to take 9:50 hours via Russia and now the detour is taking 11:44 hours, similarly for Aeroflot, before the conflict, Moscow to Cairo was 4:23 hours and after conflict, the time duration has become 5:50 hours.

Moving forward, airlines are expecting the operating costs to rise and the hike in aviation turbine fuel costs could erode recovery. Jet fuel prices in India have already jumped by 23 percent since January to Rs 93,530 per kl on March 1, the fifth hike this year.

Also Read: Regional airline TruJet suspends all flights, airline says in talks with investor for $25 million funding

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?

 5 Minutes Read

Air India to operate two flights from Bucharest to evacuate Indians from Ukraine

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

 Listen to the Article (6 Minutes)

Summary

The airline will operate the two wide-body aircraft and base them at Bucharest. The Indian embassy will coordinate the movement of Indians to Bucharest for these evacuation flights. The cost will be completely borne by the government of India for this evacuation.

Air India will operate two special flights to evacuate Indians from Ukraine. As the Ukraine airspace is closed for commercial aviation traffic, Air India has been asked to operate these two flights to Bucharest, the capital city of Romania.

The airline will operate the two wide-body aircraft and base them at Bucharest. The Indian embassy will coordinate the movement of Indians to Bucharest for these evacuation flights.

Since the air route is closed, the embassy is coordinating the movement of Indians in Ukraine to the border nations by road, officials said. Bucharest is located at over 900 km from Kyiv, Ukraine’s capital.

Also Read: Russia-Ukraine war: Long-term impact of sanctions, Russian retaliation a big question, says expert

The Indian government is looking to bring back Indians through countries on Ukraine’s western border and as a result, the stakeholders involved are looking at operating special evacuation flights via Moldova, Romania, Hungary and Poland, officials said.

“The government is organizing evacuation flights for Indians in Ukraine. The cost will be completely borne by the government of India for this evacuation,” officials said.

Initial reports suggest that around 20,000 Indian students are to be evacuated from Ukraine currently. More evacuation flights will operate but as the situation remains dynamic, the ministry of external affairs will assign the departure point as per the prevailing situation on ground.

Catch all the live updates on the Russia-Ukraine conflict here.

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?