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BusinessToday.In
August 13, 2018
Facing financial headwinds, Jet Airways is reportedly planning to monetise JetPrivilege, its frequent flyer programme.


BusinessToday.In
New Delhi, August 13, 2018
Jet Airways, however, claimed that its account with SBI and all other banks is \"standard\" and it has not defaulted on any of its payment obligations.


PTI
August 12, 2018
The Directorate General of Civil Aviation (DGCA) has already evaluated the financial health of the national carrier Air India recently, besides conducting a special audit of Air Deccan, the source close to the development said.


Rajeev Dubey
August 11, 2018
'No' says Jet Airways emphatically. But with mounting losses, negative net worth of Rs 7,100 crore and liabilities well in excess of assets, it may be very, very close.


Manu Kaushik
August 10, 2018
The airline has delayed its first quarter results announcement after its audit committee didn't recommend it to the board. Hours before the deferment, the chairman of the audit committee - Srinivasan Vishvanathan - had reportedly resigned from his job.


Aprajita Sharma
August 10, 2018
The airline on Thursday informed stock exchanges that the audit committee has refused to approve company's June quarter results.


BusinessToday.in
New Delhi, August 10, 2018
Govt working on turnaround plan for Air India, may allow airlines to raise external commercial borrowingAs the Civil Aviation Ministry plans Rs 11,000-crore bailout package for ailing Air India, Aviation Secretary RN Choubey on Thursday confirmed that the centre is working on a turnaround plan to make the debt-ridden airline competitive. Also, the centre is working on ways to let all airlines raise external commercial borrowing to meet the rising operational costs. The decision seems to have been taken in wake of private airlines facing loss due to high fuel cost and falling rupee value.Audit panel rejects Jet accounts; board defers Q1 resultsJet Airways deferred announcing their June quarter numbers to an unspecified date. The development came after the company's AGM on Thursday. In a BSE filing late in the evening, the airline, which had its AGM earlier in the day, said the board of directors decided not to review the unaudited financial performance for the June quarter. Amid rising concerns over the airline's financial health and proposed salary cuts, a new committee will be set up to improve public perception and negative publicity about it. GoAir to start international operations in October; to connect Kerala's Kannur to Saudi Arabia's DammamTravelling abroad is going to become a little easier as the fifth Indian carrier is set to take Indian passengers abroad. Starting from October, GoAir is commencing its international operations. The airline has been given permission to start international operations from the new Kannur international airport to Dammam in Saudi Arabia, Civil aviation secretary RN Choubey told reporters. GoAir operates only domestic flights despite meeting the eligibility criteria for flying on international routes as it has a fleet of over 20 aircraft. Samsung Galaxy Note 9 launched at Unpacked event in New YorkThe Samsung Unpacked event in New York saw the launch of several new devices. Samsung launched the Galaxy Note 9, coupled with an improved S Pen, Samsung Galaxy Watch, Samsung Galaxy Home. Out of the amazing line-up Samsung had prepared for the evening, the Galaxy Note 9 remained the showstopper for the event. The new Samsung Galaxy Note 9 comes with diamond cut finish for cleaner design. It will come with 128GB or 512GB of internal storage, which can be further expanded to 1TB among other features.Supreme Court sends Jaypee Infratech back to NCLT, bars promoters from biddingA year after IDBI Bank dragged Jaypee Infratech Limited (JIL) to bankruptcy court for defaulting on Rs 526 crore loan - and after a protracted battle that made the rounds of the NCLAT and the Supreme Court - the ball is back in the National Company Law Tribunal's court. The top court today asked the Allahabad bench of the NCLT to deal with the insolvency proceedings against Jaypee Infratech, allowing a second round of bidding. Significantly, in a major setback to the Jaypee group, the Court barred parent firm Jaiprakash Associates Ltd (JAL) as well as the group's promoters from participating in it. The fresh Committee of Creditors (CoC) that will now have to be set up will include homebuyers. Carry driving license, RC on your phone! Govt validates digital copiesStates have been asked to accept driving licence, registration certificate or other documents in 'electronic form' presented through DigiLocker or mParivahan platforms, the government said today. It also said that impounding of documents will be reflected electronically through 'eChallan' system. This is in response to a number of grievances and RTI applications received in the ministry SFIO arrests Bhushan Steel's former MD Neeraj Singhal for siphoning off Rs 2,000 croreIn its first arrest, the Serious Fraud Investigation Office (SFIO) on Thursday took under its custody the former promoter and managing director of Bhushan Steel Limited, Neeraj Singhal, for siphoning off over Rs 2,000 crore through several loans availed by BSL from the public sector banks using its 80 associate companies. Neeraj Singhal was produced before the court, which sent him to judicial custody till August 14.


BusinessToday.In
New Delhi, August 9, 2018
In addition to Rs 11,000 crore bailout package, the govt may give the board of directors additional powers to take decisions on operational issues.


Prosenjit Datta
New Delhi, August 9, 2018
Needless to say the rapid changes at the top of Air India does not give any chairman enough time to make any substantive changes to the carrier.


BusinessToday.In
New Delhi, July 6, 2018
As of now, petroleum products including petrol, diesel, crude oil, natural gas and aviation turbine fuel (ATF) have been exempted from the GST.


BusinessToday.In
New Delhi, June 27, 2018
Now apply for passport from anywhere in India: MEA  External Affairs Minister Sushma Swaraj has launched a new scheme under which a person can apply for a passport from anywhere in India irrespective of the place of stay. She also launched a mobile application, available in Android and iOS platforms, that would have the facilities for applying, paying and scheduling appointments for acquiring a passport. A person can now choose the Regional Passport Office (RPO) and the Passport Seva Kendra (PSK) or Post Office Passport Seva Kendra (POPSK) for submitting the application.The police verification, if required for a specific passport, would be conducted at the address specified in the application form.NPA situation likely to worsen further, says RBI  Painting a gloomy picture of the banking sector, the RBI today said gross bad loans as percentage of total advances of banks are likely to rise from 11.6 per cent in March 2018 to 12.2 per cent by the end of the current fiscal. In its Financial Stability Report (FSR), the RBI said stress in the banking sector continues as gross non-performing advances (GNPA) ratio rises further. Referring to the 11 state-owned banks under prompt corrective action framework (PCA), the RBI said they may experience worsening of their GNPA ratio from 21 per cent in March 2018 to 22.3 per cent by this fiscal-end.Ajay Chitkara appointed CEO of Airtel Business  Telecom major Bharti Airtel today said it has appointed Ajay Chitkara as director and CEO of its business-to-business arm - Airtel Business. The company also moved Bharti Infratel chief financial officer Pankaj Miglani as CEO of Global Business. Chitkara has been with Airtel since 2001 and is credited with building brand Airtel in the global wholesale segment. The company said that Global Business arm of Airtel grew in topline to become a billion dollar business, while cash flow margins jumped five-fold since 2013 under Chitkara. In his new position, he will continue reporting to Gopal Vittal, MD and CEO - Bharti Airtel.India's largest telecom entity will be known as Vodafone Idea LtdKumar Mangalam Birla's Idea Cellular and Vodafone India will soon be known as Vodafone Idea Limited. Both the telecom operators are in the process of merging their businesses, and the approval for merger by the Department of Telecom is in final stage. On Tuesday, the shareholders of Idea Cellular approved the name 'Vodafone Idea Limited' for the new -- after merger-- entity.  The change in the name will be effective post completion of merger of Vodafone India and Idea Cellular. Vodafone is expected to own 45.1 per cent, 26 per cent by Aditya Birla Group and Idea shareholders will own 28.9 in the combined entity. Govt to include natural gas, jet fuel under GST in next Council meeting on July 21Petrol and diesel prices will continue to burn a hole in your pocket as the government has no immediate plan to include it under the GST net. The GST Council, which will meet on July 21, however, may give its nod to include 'natural gas' and 'aviation turbine fuel' under the indirect tax regime. Finance Secretary Hansmukh Adhia confirmed to PTI that the next GST Council meeting could decide on including these two items under the Goods and Services Tax. EPFO members can withdraw 75% funds after 30 days of job lossRetirement fund body EPFO on Tuesday decided to give its members an option to withdraw 75 per cent of their funds after one month of unemployment and keep their PF account with the body. The members would also have an option to withdraw remaining 25 per cent of their funds and go for final settlement of account after completion of two months of unemployment under the new provision in the Employee Provident Fund Scheme 1952.


BusinessToday.In
New Delhi, June 26, 2018
A reason the government wants to include jet fuel and natural gas under the GST is low tax incidence on them, which is a safe bet for the government as they can be easily accommodated in the five-slab tax system.


BusinessToday.In
New Delhi, June 25, 2018
Fuel prices continued to either dip or remain stagnant from May 30. On Sunday, petrol prices across the country were slashed by 14-17 paise, while diesel fell by 7 paise.


BusinessToday.In
June 20, 2018
The tax structure for petrol and diesel is likely to be a peak tax rate of 28 per cent plus states levying some amount of local sales tax or value added tax (VAT).


PTI
June 1, 2018



BusinessToday.In
New Delhi, May 31, 2018
Singapore Airlines also plans to introduce non-stop flights from Singapore to Los Angeles eventually.


BusinessToday.In
May 30, 2018
Any IndiGo ticket you book now will carry a fuel surcharge of Rs 200 on short flights covering a distance of under 1,000 km, while flights on longer routes above this threshold will incur an extra charge of Rs 400 per passenger.


Manu Kaushik
New Delhi, May 28, 2018
The aviation sector is facing fresh headwinds. Rising crude oil prices and intensified competition are hurting airlines.


BusinessToday.In
May 24, 2018
At 9:21 am, the Jet Airways stock was down 7.21% or 30.35 points to 392 level. The stock closed at 421 level in Wednesday's trade.  The stock hit a fresh 52-week low of 386.05 level, breaching the previous yearly low of 389 level. On Wednesday, the company's scrip ended at Rs 421.15, up 0.23 per cent on the BSE.


PTI
New Delhi, May 23, 2018
Naresh Goyal-promoted Jet Airways today reported a standalone net loss of Rs 1,036 crore in the March quarter due to rise in oil prices and weaker rupee.


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