Along with other airlines around the world, Qantas is battling against a huge drop in demand after countries including Australia closed their borders to try contain the pandemic

Passenger numbers are seen falling to 2.25 billion this year before rising to 3.38 billion in 2021, still more than 25% below 2019 levels

Stock Market LIVE Updates: Kotak Bank, M&M, Tata Motors, Hindalco, Bajaj Finance were among the top gainers on Nifty. On the contrary, Coal India, L&T, ITC, ICICI Bank and BPCL were among the major losers

India has been under lockdown since March 25 to curb the spread of coronavirus. All commercial passenger flights have been suspended during the lockdown period

During her visit to the plant in Argenteuil, Sitharaman spoke to officials of the Dassault Aviation, the makers of Rafale, and took stock of progress in production of the fighter jets whose delivery to India will begin in September next year.

The headline indices tanked as Finance Minister Arun Jaitley failed to enthuse excitment on Dalal Street. Negative trend seen in Asian markets also contributed to bearish sentiment.

Capt G.R. Gopinath, founder of India's first low cost airline, Air Deccan - which he later sold to Kingfisher Airlines - has known both success and failure in a turbulent career.  Gopinath met Govindraj Ethiraj inside a hangar at Bangalore's Jakur airport for an exclusive interview for the show Bottomline, airing on Headlines Today.

The government is likely to announce an FDI package within the next fortnight, which could include allowing foreign investment in multi-brand retail and the civil aviation sector.

Prime Minister Manmohan Singh is likely to consult senior ministers to build a consensus on the proposal of allowing foreign airlines to buy stakes in domestic carriers.

Canada's Bombardier commercial aircraft and business jet manufacturer has said the Asia- Pacific region, including China, will take delivery of about 4,000 aircraft in the 20-to 149-seat category over the next 20 years of which 1,300 will be in India.

If realised, the move would bring huge relief to cash-strapped private carriers

\"We are opposed to foreign investment in the aviation sector...it will lead to annihilation of the domestic industry, including Air India,\" said BJP spokesperson Rajiv Pratap Rudy.

Ruling out any privatisation of the state-owned carrier, the government promises administrative and monetary steps to turn it around. It also assures of a action against officers responsible for the losses.