The relaunch of Virgin Atlantic's service between Mumbai and London has brought welcome relief for passengers, who were otherwise forced to dig deeper into their pockets since Jet Airways suspended its operations earlier this year.Since the relaunch, on October 27, fares to London - the busiest long haul destination from India - have dropped by 6 percent. That is a respite because, after Jet Airways suspended its operations in April fares of flights between Mumbai to London spiked by up to 80 percent.A Paytm Travel spokesperson said fares between Delhi and London had gone up by 12 percent after Jet Airways stopped flying. It mattered because the airline had the biggest share of traffic between London and Indian cities.Close For Mumbai alone, the impact was huge. In the winter of 2018, for instance, about 5.5 lakh passengers travelled between London and Mumbai. About 3.2 lakh of them had flown with Jet Airways. related news Bharti Airtel posts staggering Rs 23,045 cr net loss … [Read more...] about Thanks to Virgin Atlantic, fares to London drop
Stopover or direct flight
The relaunch of Virgin Atlantic between Mumbai and London is set to bring relief to the flyers.After the suspension of operations by Jet Airways in April this year, airfares had spiked.In this episode of Editor's Take, Moneycontrol's Shraddha Sharma talks to Prince Thomas to understand if Virgin Atlantic will fill the void left by Jet.Close Watch the video for moreGet access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. … [Read more...] about Editor’s Take | Thanks to Virgin Atlantic, flights to London now cheaper
State-run Bank of Baroda-owned Baroda Asset Management Company (AMC) and BNP Paribas AMC on Oct 11 announced merger to form an asset management joint venture.However, the merger is subject to regulatory and other legal approvals.BNP Paribas Asset Management Company is a subsidiary of BNP Paribas Asset Management Asia.Close It is a merger of two fund houses and not an acquisition. However, the press statement did not make a mention of how much percentage stake each fund house will be holding.Himadri BuchAssistant Editor|Moneycontrol.com MFs cut exposure to NBFCs, load up on corporate debt papersSEBI disciplines valuation treatment of unrated securitiesIndiabulls MF's Raghav Iyengar tipped to join Axis MF as Chief Business OfficerThe merger will allow both the companies to leverage each other's strengths and offer products for retail and institutional clients, BoB said giving any financial details of the deal.BoB mutual fund (MF) has current assets under management (AUM) of Rs … [Read more...] about Mutual funds wrap: Would SEBI direct BoB and BNP Paribas MFs to consolidate schemes post merger?
In a relief to frequent and even occasional flyers, airfares may remain low despite the 14 per cent increase in prices of air turbine fuel in the past one year. “Given the level of competition, it looks like airfares may continue to remain low,” says Amber Dubey, partner and India head of aerospace and defence, KPMG.But that doesn’t mean that flying will get any smoother in the short term. Dubey, who was instrumental in drafting the National Civil Aviation Policy, points out that capacity addition in airports, biometrics-based verification and reforms in immigration are imperative to develop the industry.In an interview with Moneycontrol, Dubey said that despite the challenges, India had the potential to surprise the top two aviation powers, US and China, by 2030. Close Edited excerpts from the interview: related news Bharti Airtel posts staggering Rs 23,045 cr net loss in Q2 after AGR provisioning … [Read more...] about Airfares to remain low; but brace for clogged airports, says KPMG’s Amber Dubey
IndiGo and SpiceJet are set to partially shift their operations from Terminal 1 (T1), to the newly-revamped Terminal 2 (T2) of IGI Airport with effect from March 25, Delhi International Airport Ltd (DIAL) announced Friday.As per the recent order of the Apex Court, both airlines submitted lists of sectors to be shifted to T2 to DIAL, which gave its consent to the proposal.IndiGo will shift 10 of its sectors (flight nos. 6E 2000 to 6E 2999) to T2. These include destinations of Amritsar, Bagdogra, Bengaluru, Bhubaneshwar, Chennai, Raipur, Srinagar, Udaipur, Vadodara and Visakhapatnam.SpiceJet will shift 7 sectors (flight nos. SG 8000 to SG 8999) to T2. These include destinations of Ahmedabad, Cochin, Goa, Gorakhpur, Patna, Pune and Surat.With the partial shift of operations of the two airlines to T2, passenger area for the flyers will increase from current available passenger area of 25,917 sqm at T1 to combined 62,010 sqm. T2 adds additional 36,093 sqm passenger area.In … [Read more...] about IndiGo & SpiceJet to partially shift from Delhi’s T1 to T2 terminal on March 25