Air India says I am the Maharaja, not IndiGo; refutes report of losing international crown Posted on 3rd September 2019 |
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| The state-run carrier Air India is still the market leader to fly on international routes with more than double the capacity of rival IndiGo, the airline said on Monday. The clarity on the matter comes a day after a report said that the Maharaja has been pipped by IndiGo as the later “now has the largest share of international seats to/from India”, a consultancy firm, Centre for Asia Pacific Aviation (CAPA), said in its report on August 31. Air India reportedly wrote an email to the aviation consultancy firm and said that the carrier has 16.7% share of international flyers in September when measured in terms of available seat kilometres (ASKMs), news agency PTI reported. “The analysis done in your (CAPA) report to showcase IndiGo as the largest carrier on international routes is flawed and misleading. This, of course, has been done by replacing ASKMs which is a true measure of capacity deployment with seats offered,” PTI quoted Air India as saying. Under the ASKMs, an airline’s total capacity to carry passengers is calculated by multiplying the total number of seats available to a total number of kilometres flown. However, IndiGo is a market leader in the domestic segment with about half of the market share by passenger flown in July, according to India’s aviation watchdog DGCA. An earlier CAPA report had said that Air India must leverage the opportunity on overseas routes as the capacity is constrained there, while the domestic space remains crowded with competition. The same also becomes relevant after the exit of Air India’s biggest competitor on international routes — the Naresh Goyal-founded Jet Airways. Meanwhile, a recent report by ICRA also said that the passenger growth on domestic routes has been slower because many airlines opted for international expansion rather than ramping up domestic operations. Many airlines have introduced a slew of international flights after Jet Airways crisis, sensing potential in the burgeoning interest for international travelling. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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| Be the first person to write a business review for Air India says I am the Maharaja, not IndiGo; refutes report of losing international crown |
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