A passenger enters an airport in Hyderabad, India. File/Agence France-Presse
Aviation in India has attracted entrepreneurs like moths to a flame but only a few have managed to survive and thrive in a sector which has become the graveyard of all kinds of airline business models − budget, full service and hybrid. Kingfisher was one of the biggest private initiatives but it failed.
India’s SpiceJet Ltd said on Friday it will prioritize hiring employees of Jet Airways Ltd who are losing their jobs after the crisis-hit Indian airline halted all flight operations indefinitely this week. “We have already provided jobs to more than 100 pilots, more than 200 cabin crew and more than 200 technical and airport staff,”
Indian Immigration authorities on Saturday stopped former Jet Airways chief Naresh Goyal and his wife from travelling to London, an official said, a month after the debt-laden company grounded its fleet.
Global shares dipped on Friday as data out of China, the eurozone and the United States put a lid on expectations for a sustained global rebound, with traders already worried about a delay in US fiscal stimulus.
Chinese firms like Xiaomi are facing delays getting approvals from India’s quality control agency for their goods, five industry sources told Reuters, as the business environment deteriorates after a clash on their Himalayan border.
Abu Dhabi National Energy Company (Taqa), announced on Thursday its earnings for the second quarter of 2020. The company’s revenues reached Dhs3.3 billion for the quarter, reflecting the COVID-19 pandemic ongoing adverse impact on energy markets.