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An Air India aircraft. As the Tata group completes the first year of taking over Air India, the airline on Friday said it is finalising a historic order of new aircraft while the airline's chief Campbell Wilson highlighted that the carrier's progress has been quite remarkable. Stepping into the second year of Air India 2.0, Wilson, in a message to employees, acknowledged that there will be challenges along the way and emphasised that more than successes, "it is how we respond to our lapses ... that will define us". The airline has put in place a roadmap under Vihaan.AI for transformation over the next five years and has taken various measures, including committing USD 400 million to refurbish the interiors of its entire wide-body fleet. However, in recent weeks, the carrier has faced certain headwinds related to the unruly behaviour of passengers onboard two international flights and has also been penalised by the aviation regulator DGCA. Listing out major initiatives, … [Read more...] about Air India has made ‘quite remarkable progress’: CEO; airline finalising historic aircraft order

January 27 marks one year of Air India (AI) returning to the Tata fold Air India is set to place an order for 190 Boeing 737 MAX narrow body planes along with 20 Boeing 787s and 10 Boeing 777X today, a Reuters report quoted industry sources as saying. The order comes on a day when Tata Group will mark the first anniversary of its acquisition of Air India from the government. This is half of the order worth billions of dollars for around 495 jets, the report quoted industry sources as saying. This is part of an effort by the Tata group to make Air India more competitive in a tough aviation market. The other half of the order, sources told Reuters, is expected to be completed over coming days. This includes around 235 Airbus single-aisle jets and about 40 Airbus A350 widebody aircraft. The order comes at a time when the travel industry is seeing a strong post-COVID surge. Read More Flying high Marking the first anniversary of the take over, Air India … [Read more...] about Air India likely to seal half of jumbo plane order with Boeing today

An Air India aircraft. Top officials from aircraft manufacturer Boeing, and engine suppliers General Electric Aviation and CFM International will meet officials from Tata Sons and Air India in Mumbai on January 27, sources said. While the first two are American companies, CFM International is a 50:50 Franco-American joint venture between GE Aviation and Safran Aircraft Engines. "There is a closed-door meeting today in Mumbai between Natarajan Chandrasekaran, Campbell Wilson, Stanley Deal, François Planaud, Tom Levin, Salil Gupte, Ahmed Elsherbini, and other top officials from GE and CFM International," an airline official said. Natarajan Chandrasekaran is the Chairman of Tata Sons. Campbell Wilson is the CEO and MD of Air India, and Stanley Deal is the CEO of Boeing Commercial Airplanes. François Planaud is the Executive Vice-President, Support and Services, at Safran Aircraft Engines, and Tom Levin is the Vice-President, After Market Strategic Solutions, at GE … [Read more...] about Boeing, GE, CFM International meeting Air India officials today: Sources

Air India reviewed its inflight alcohol service policy on January 24 and made some adjustments after embarrassing onboard incidents that triggered fines and public anger. As part of the review, the airline said it will adopt the US National Restaurant Association’s traffic light system to tactfully refuse alcohol to passengers if they seem to be at risk of behaving inappropriately. What is the National Restaurant Association’s traffic light system? The National Restaurant Association’s traffic light system asks servers to determine whether a customer needs to be cut off from being served liquor. The system categorises passengers into green, yellow or red stages based on their behaviour, body language, facial cues, and ability to comprehend instructions. Read More COVID-19 Vaccine Frequently Asked Questions View more How does a vaccine work? A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to … [Read more...] about MC Explains | Air India’s new system to identify drunk passengers

Shankar Mishra, the accused in the Air India peegate case. A Delhi court on Friday adjourned Shankar Mishra's petition seeking bail to January 30. Mishra, who is accused of urinating on a woman co-passenger onboard a flight in November last year had filed a fresh bail application seeking regular bail. The court adjourned the matter after noting the investigating officer was not present. Further, the complainant's counsel was not provided a copy of the bail plea, it noted. The incident took place onboard the Air India flight from New York to Delhi on November 26, 2022. Read More Mishra was allegedly in an inebriated condition. … [Read more...] about Air India urination case: Court adjourns Shankar Mishra’s bail plea to January 30

The “watch duty time limitations and rest requirements” set forth by the DGCA on January 11 for controllers state that an air traffic controller's shift cannot last longer than 12 hours (Representative Image) The Directorate General of Civil Aviation ( DGCA ) rejected the Airports Authority of India ( AAI ) proposal to provide relaxation for airports with fewer flights in order to enable it to overcome a manpower shortage and instead issued new rules for the duty hours of air traffic controllers, as per a report in The Hindu . Although a version of these rules was initially announced in November 2020, the AAI found it challenging to comply with them because it required more staff to offer the required rest period. Since then, it has requested exemptions five times and suggested various duty hours for four distinct types of airports based on the volume of air traffic they handle: large airports, or those with more than 400 flights per day, as well as airports with up to … [Read more...] about DGCA sets new rules for duty timings of air traffic control employees

Representative Image The Directorate General of Civil Aviation (DGCA) on January 25 announced new guidelines asking airlines to refund passengers that were downgraded to a lower class. As part of the new guidelines, the aviation regulator has asked airlines to issue a 75 percent refund of the cost of ticket including taxes to passenger that were downgraded when flying on a domestic route. Similarly, for passengers flying on international routes, if the route length is 1,500 km or lower, airlines will have to provide a refund amounting to 30 percent of the cost of ticket including taxes, if a passenger's seat is downgraded. For international flights between 1,500 km and 3,500 km, airlines will have to provide a refund amounting to 50 percent of the cost of ticket including taxes, if a passenger's seat is downgraded. ALSO READ: DGCA sets new rules for duty timings of air traffic control employees Read More COVID-19 Vaccine Frequently Asked Questions … [Read more...] about DGCA amends norms to provide refund to passengers who were shifted to lower class

Bandhan Bank's advances for the quarter rose 11.1 percent YoY to Rs 97,787 crore Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Bandhan Bank on January 20 posted a 66 percent drop in its net profit for the December quarter (Q3FY23) at Rs 290.57 crore amid a sharp jump in provisions and total cost. The lender had logged Rs 858.97 crore profit in the year-ago period. Its total expenditure rose 34.65 percent from the year-ago period to Rs 2,918.77 crore. Provisions and contingencies jumped 91.32 percent to Rs 1,541.49 crore versus Rs 805.71 crore year-on-year (YoY). Meanwhile, net interest income (NII) or the income a bank earns by giving loans, fell marginally by 2.1 percent YoY to Rs 2,080.43 crore. Other income increased nearly 45.74 percent YoY to Rs 1,033.30 crore. The lender's non-performing assets improved. Gross … [Read more...] about Bandhan Bank Q3: Net profit falls 66% YoY on higher provisions, total cost

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Motilal Oswal's research report on PNB Housing Finance PNB Housing Finance (PNBHF) reported a healthy 3QFY23 with PAT growth of 43% YoY to ~INR2.7b (24% beat). This was driven by ~55bp QoQ expansion in margin and lower CIR of ~16%. The 9MFY23 PAT rose 15% YoY to ~INR7.7b. NII jumped 73% YoY to INR7.2b aided by slower increase in CoF, quicker transmission of interest rates to customers and net positive impact of ~INR790m from the assigned loan pool. PPOP surged 76% YoY to INR6.74b. Asset quality improvement was driven by decline in both retail and Corporate GNPA. Total GNPA/NNPA stood at ~4.9%/3.2% (% of Loan Assets) and declined 120bp/50bp QoQ, respectively. Retail GNPA improved ~50bp sequentially to 2.9%. Corporate GNPA improved to 27% (v/s 30% QoQ) aided by write-off of a large NPA account. … [Read more...] about Neutral PNB Housing Finance; target of Rs 600: Motilal Oswal

Adani Group Companies linked to Indian billionaire Gautam Adani plan a detailed response Friday to a short seller’s report that they labeled as “bogus,” according to bondholders who participated in a conference call with Adani executives. The Adani Group held the call with fixed-income investors after US short seller Hindenburg Research leveled a series of extraordinary allegations about the sprawling conglomerate. Adani Group set out a reply to some of the issues in an 18-page presentation titled “Myths of Short Seller” on the call, according to people familiar with the matter, who asked not to be named as the talks were private. The group said it would publish a more detailed reply to Hindenburg’s 100-page dossier on Friday. On the call, it told investors that assertions of accounting fraud were “devoid of facts.” Eight of the nine Adani portfolio companies are audited by one of the so-called “big six” auditors, according to the presentation seen by Bloomberg. The … [Read more...] about Adani lines up detailed response to ‘bogus’ short seller report