Skip to content
Search

Latest Stories

India to Spend £46.75 Billion to Build 100 Airports

In an attempt to improve domestic and international air connectivity, India aims to build 100 airports at a planned cost of £46.75 billion in the next 10 to 15 years, said Indian Civil Aviation Minister Suresh Prabhu on Tuesday (04).

India’s aviation sector is one of the fast growing around the globe. The new airports would be constructed through public private partnership, the minister added.


The minister also noted that his government is working for a cargo policy.

India’s air passenger market continue to post positive growth in the July 2018, according to the latest data released by the International Air Transport Association (IATA).

India’s domestic air revenue passenger kilometers (RPKs) growth topped the chart when compared to the other countries of the globe for the 12th time in 13 months in July, and posted its 47th consecutive month of double-digit growth (18.3 per cent) year-on-year basis.

“Meanwhile, China’s growth performance wasn’t far behind that of India, with domestic RPKs up 14.8 per cent compared to July 2017. Demand continues to be supported in both cases by structural changes, including ongoing rises in living standards, as well as sizeable increases in the number of airport connections within the respective countries. The latter translates into time savings for passengers and has a similar stimulatory impact on demand as reductions in fares,” IATA data said.

India is expected to overtake Germany, Japan, Spain and the UK within the next decade to turn into the third largest air passenger market in the world, according to IATA.

Indian airlines are likely to witness combined losses of up to £1.48bn in the current fiscal year led by full-service carriers such as Air India and Jet Airways as a result of by jumping costs and low air fares, aviation consulting firm CAPA India said in a report on Monday evening (03).

The latest estimation for the year ending March 31 is higher from an estimated projection of £335.15 million to £358.53m. The sector-wide loss in January is due to the downward movement of rupee against the dollar and continues hike in crude oil prices, CAPA added.

More For You

marks & spencer

M&S has confirmed that its physical stores remain open and operational

Getty

Marks & Spencer suspends online shopping after cyber attack hits systems

Marks & Spencer (M&S) has paused all online orders following a significant cyber attack that has left the company working to restore its systems. The retailer confirmed the cyber incident earlier this week, after customers began experiencing issues with online services last weekend.

While some systems have been brought back online, others remain offline, forcing M&S to stop taking orders through its website and apps. This includes both food deliveries and clothing purchases. The company issued an apology for the inconvenience, acknowledging the disruption and stating that its team, supported by cyber experts, is working tirelessly to resolve the situation.

Keep ReadingShow less
Pakistan airspace curbs push up costs for Indian airlines

FILE PHOTO: Passengers stand in a queue before entering the Chhatrapati Shivaji Maharaj International Airport in Mumbai. (Photo by SUJIT JAISWAL/AFP via Getty Images)

Pakistan airspace curbs push up costs for Indian airlines

TOP Indian airlines Air India and IndiGo are bracing for higher fuel costs and longer journey times as they reroute international flights after Pakistan shut its airspace to them amid escalating tensions over a deadly militant attack in Kashmir.

India has said there were Pakistani elements in Tuesday's (22) attack in which gunmen shot and killed 26 men in a meadow in the Pahalgam area of Indian Kashmir. Pakistan has denied any involvement.

Keep ReadingShow less
Campbell Wilson

Air India CEO Campbell Wilson steps down as Air India Express chair

Air India CEO Campbell Wilson steps down as Air India Express chair

AIR INDIA CEO Campbell Wilson is stepping down as chair of Air India Express, the airline’s low-cost subsidiary. He will be replaced by Nipun Aggarwal, Air India’s chief commercial officer, according to an internal memo sent on Tuesday.

Wilson will also step down from the board of Air India Express. Basil Kwauk, Air India’s chief operating officer, will take his place.

Keep ReadingShow less
Air India eyes Boeing jets rejected by Chinese airlines: report

Tata-owned Air India is interested in purchasing jets that Chinese carriers can no longer accept (Photo credit: Air India)

Air India eyes Boeing jets rejected by Chinese airlines: report

AIR INDIA is seeking to acquire Boeing aircrafts originally destined for Chinese airlines, as escalating tariffs between Washington and Beijing disrupt planned deliveries, reported The Times.

The Tata-owned airline, currently working on its revival strategy, is interested in purchasing jets that Chinese carriers can no longer accept due to the recent trade dispute. According to reports, Tata is also keen to secure future delivery slots should they become available.

Keep ReadingShow less
Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

The IT service firm said its revenue would either stay flat or grow by up to three per cent

Getty Images

Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

INDIAN tech giant Infosys forecast muted annual revenue growth last Thursday (17) in an outlook that suggests clients might curtail tech spending because of growing global uncertainty.

The IT service firm said its revenue would either stay flat or grow by up to three per cent in the fiscal year through March 2026 on a constant currency basis. The sales forecast was lower than the 4.2 per cent constantcurrency revenue growth Infosys recorded in the previous financial year.

Keep ReadingShow less