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India is a fantastic market that demonstrates the real value of aviation, but high fuel costs is a challenge for the local airlines, IATA chief and IndiGo's incoming CEO Willie Walsh said on Monday. Speaking at briefings after the conclusion of the IATA Annual General Meeting (AGM) in the city, Walsh said India has great opportunities, as well as some as challenges. Howeever, taxation could slow down the growth potential, he added. "The net position in India is very, very exciting and that is proven by the growth that we've seen in the domestic market... I think (there) would be a very significant growth in the international market in due course as well," he said. The International Air Transport Association (IATA) is a grouping of more than 370 airlines and accounts for around 85 per cent of the global air traffic. Talking about the challenges in the Indian market, Walsh cited high fuel costs. "That is an additional burden when fuel (price) is denominated in dollars and you've see
Air India CEO Campbell Wilson on Friday asked the employees to suspend discretionary spending and defer non-critical expenditures as he emphasised the need to cut down on costs in these "tough times", according to sources. The management of the loss-making airline, which has been facing multiple headwinds especially due to the West Asia conflict, told staff that layoffs are not anticipated. Wilson, along with Chief Financial Officer Sanjay Sharma and Chief Human Resources Officer Ravindra Kumar GP, addressed the airline's employees during a townhall on Friday. As per the sources, Kumar said Air India will proceed with variable pay for the last financial year and continue with planned promotions while annual increments will be deferred by at least one quarter in light of the uncertain economic environment. "We don't anticipate layoffs," he said. Calling for a relentless focus on costs in these tough times, Wilson urged employees to suspend discretionary spending, renegotiate rates
Air India's board of directors met in the national capital on Thursday amid the loss-making airline facing multiple headwinds in the wake of the West Asia conflict. The meeting is expected to discuss various issues, including financials and cost-saving measures. Discussions related to the selection of a new CEO are also likely at the board meeting. Current CEO and MD Campbell Wilson will be stepping down later this year. Airspace curbs and higher jet fuel prices due to the West Asia conflict are adversely impacting the airline, which is in the midst of an ambitious transformation plan. Operational costs have gone up significantly in recent months for the carrier. Against this backdrop, the airline is mulling various cost-saving measures. Sources said the board meeting started after 11 am on Thursday. Specific details about the agenda for the meeting could not be ascertained. Air India board is chaired by Tata Sons Chairman N Chandrasekaran. Wilson, Singapore Airlines CEO Goh