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Indira Gandhi International airport sees a partial shift of operations from Terminal-1 (T-1) to Terminal-2 (T-2) by Indigo and SpiceJet The decision relating to shifting a part of the airline’s operation to IGI terminal 2 in Delhi International Airport Ltd (DIAL’s) decision was challenged by Indigo airlines, which has the biggest market share in Delhi high court. However, as a temporary measure, the Delhi high court on Tuesday cleared all the decks for (DIAL) to shift a part of operations of a few airlines to the newly unveiled Terminal 2 from terminal 1 at Indira Gandhi airport. Hema Kohli and Rekha Palli dismissed the appeal by the Indigo against the shifting of its partial operations by DIAL, which is a policy decision with the sanction of Directorate General of Civil Aviation (DGCA). Partial Shifting of Operations Indira Gandhi International airport sees a partial shift of operations from Terminal-1 (T-1) to Terminal-2 (T-2) by Indigo and SpiceJet. The shift of operat...

Jet Airways has been struggling with weak demand from the Persian Gulf for a few quarters, though the management indicated that might change soon Jet Airways ’ December quarter performance did not go down well with the Street, with the stock shedding nearly 6 per cent at close on Thursday. The company had declared the results after market hours on Wednesday. One reason for the stock fall could be the net profit decline. The bottom line, at Rs 1.86 billion, was down 38 per cent over the year-ago quarter. However, net profit for the year-ago period, at Rs 2.99 billion, included Rs 3.27 billion profit on sale and leaseback of aircraft. The company has restated the numbers for the third quarter of 2016-17 and nine months of 2016-17 to reconcile these with Indian accounting standards. Without the adjustment, net profit would have shown an increase of 19.2 per cent. On the operational front, revenues increased 10.4 per cent to Rs 64.12 billion. This was led by a 13.4 per cent in...

Jet Airways has been struggling with weak demand from the Persian Gulf for a few quarters, though the management indicated that might change soon   LATEST NEWS : Jet Airways ’ December quarter performance did not go down well with the Street, with the stock shedding nearly 6 per cent at close on Thursday. The company had declared the results after market hours on Wednesday. One reason for the stock fall could be the net profit decline. The bottom line, at Rs 1.86 billion, was down 38 per cent over the year-ago quarter. However, net profit for the year-ago period, at Rs 2.99 billion, included Rs 3.27 billion profit on sale and leaseback of aircraft. The company has restated the numbers for the third quarter of 2016-17 and nine months of 2016-17 to reconcile these with Indian accounting standards. Without the adjustment, net profit would have shown an increase of 19.2 per cent. On the operational front, revenues increased 10.4 per cent to Rs 64.12 billion. This was led ...

He said the move would bring down fares, help aviation sector see growth and thus compete globally LATEST NEWS  : Ajay Singh, owner of low-cost carrier Spicejet, on Friday, pitched for bringing aviation turbine fuel (ATF) under the ambit of goods and services tax (GST) to lower cost. The move will help bring down fares and boost the aviation sector’s growth, Singh said at the World Economic Forum’s India Economic Summit. Bringing fuel under GST will help airlines claim input tax credit, which will help lower cost. “In aviation cost, ATF is the biggest item. We want the ATF cost to be reduced. States should reduce sales tax and bring it within GST so that we can claim input tax credit. If that happens, prices will come down, fares will come down and the aviation sector will see growth,” said Singh at the conference organised in partnership with the Confederation of Indian Industry (CII). On the states' insistence, petroleum has been kept out of GST and hence c...