As per reports being circulated in the media, Tata Sons may bid for Air India Sale by Government. Ironically, it was the Tata Group, which had founded the Air India in 1932. In 88 years time, Tata Sons grew to become the holding company of the $113 billion salt-to-software conglomerate.
While the fliers have not yet resumed flying, it is now being widely recognised that the global aviation industry is going through the toughest-ever phase in its 100-year old history. The uncertainty of survival is bound to cause unprecedented turmoil and has fully paralysed the sector. Rating agency Crisil reports
Despite the aviation industry being hit by the outbreak of Covid-19 pandemic, many airlines are preparing to join other airlines in the intercontinental market by December 2020. They seem to be working very hard for the restart of the air services. The $1.9 trillion money manager, Pacific Investment Management Co.
EasyJet pilots have been offered alternative contracts. The airline also warns of upcoming cuts. In Q3 of last year, budget carrier EasyJet served 26.4m fliers and earned £1.76bn as revenue. One year later, the story became entirely different. EasyJet flew just 117,00 passengers and could earn revenue of only £7m
The corona induced measures for lockdowns are now slowly being eased by the governments. Earlier, the coronavirus had forced the world economy to a standstill, the aviation sector saw a painful definite slump in business during the past two months. Now, as the lockdowns are being eased, skies are clearing
In December 2018, in one of the world’s top airport takeovers, the French giant Vinci had bought a 50.01% stake in UK’s second-busiest airport, Gatwick. In 2009, Global Infrastructure Partners (GIP), had bought the whole airport for just £1.5bn. In 2006, GIP had bought London City airport in London’s Docklands
Previously: Lenders Still Hopeful of Debt Recovery From Jet, Agree to Put in $450 Mn Further The talks between India’s Jet Airways Ltd and aircraft lessors prompted some lessors to explore the option of taking back Jet’s aircraft. The airline had previously told some lessors it would clear arrears by Dec.
A pilot with Shenzhen-based Donghai Airlines has been fined 12,000 yuan (US$1,756) and grounded for six months pending further disciplinary action after he was seated his wife in the cockpit of a Boeing 737 jet on a flight that he commanded. Chen Guosheng piloted Flight DZ6286 from Nantong in eastern
Managers at Jet Airways will now get their December 2018 salary late, said a source in the airline. Salaries of pilots, engineers and senior management were already being paid in instalments for the past few months, as the airline faced pressure to settle overdue payments to lenders and vendors. The