Airlines Financial News

New Delhi: The Central government will launch e-CARe (e-clearance for after life remains) portal on Thursday to facilitate fast transfer of mortal remains of Indian nationals who die abroad, Union Health Minister Mansukh Mandaviya said on Wednesday during a press briefing. The government will depute a nodal officers from Airport Health Organization who will be monitoring the portal 24x7.

New Delhi: The Central government will launch e-CARe (e-clearance for after life remains) portal on Thursday to facilitate fast transfer of mortal remains of Indian nationals who pass away abroad, Union Health Minister Mansukh Mandaviya said on Wednesday during a press briefing. The government will depute a nodal officer from Airport Health Organization to monitor the portal 24x7 and scrutinize and give fast-track approvals.

InterGlobe Aviation will set up a venture capital arm to make investments in early stage companies that are into aviation, consumer and allied sectors. The board of the company, the parent of the country's largest airline IndiGo, approved the incorporation of a Limited Liability Partnership (LLP) for venture capital investments on Wednesday.

₹15,691 crore, up 89% from the previous quarter. Today, the airline reported its highest-ever quarterly profit of 3,090.6 crore in the April-June 2023 quarter on the back of robust demand for air travel during the period, lower fuel costs and favourable movement in foreign currency. “Given our strong liquidity position, we are also planning to invest in some aircraft and related assets.

international flights. But do you need that much time for connections between international flights? Layovers of just 30 minutes can be feasible for domestic flights, especially at small airports where the next flight might be just one gate over. But international layovers are typically far more complicated, and even two hours can be insufficient. Here’s how to book flights with an international layover, and how much time you really need.WAYS TO BOOK A FLIGHT WITH AN INTERNATIONAL LAYOVER Let’s say you’re flying from Houston to Hanoi, Vietnam. There might be no direct flights between those two cities, but you could get there via layover. The most common, least risky way to book international flights necessitating a layover is by searching for flights between your departure and arrival cities. Even with no nonstops available, the airline automatically determines your layover and puts both flights on one reservation. This strategy is ideal for a few reasons:

Revenue from operations jumped 30% year-on-year (YoY) to Rs 16,683 crore in the reporting quarter. Both revenue and profit beat the ET Now Poll estimates, which saw the figures at Rs 15,942 crore and Rs 2,322 crore. MORE TO COME...

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HDFC Mutual Fund has launched HDFC Transportation and Logistics Fund, which will invest in companies that are at the forefront of transportation and logistics sector. It aims to capitalize on a wide array of opportunities across automotive, shipping & ports, railways, airports & airlines, e-commerce, road/rails/air cargo, supply chain/warehousing etc under the transportation and logistics theme. The scheme will be managed by Priya Ranjan. “At HDFC Mutual Fund, we have always endeavored to be a one-stop solution for varied financial goals and have delivered a wide array of opportunities through our diverse product bouquet. HDFC Transportation and Logistics Fund becomes the latest spoke in our product offering wheel,” said Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company.

Akasa Air has announced discounts and app-exclusive offers on Wednesday to commemorate a year of its commercial operations. Travellers will get a discount of 15 per cent on flight tickets across 16 domestic destinations on the airline’s network, upon booking through Akasa Air’s app and website.

IndiGo, India's leading airline on Wednesday is celebrating its 17th anniversary by announcing its three-day sale for all customers starting August 2, 2023 to August 4, 2023. The offers are a part of its anniversary celebrations ‘HappyIndiGoDay.' The airline is offering a 12 per cent discount on all tickets booked from its website and mobile app till August 3 while seven per cent discount will be given on August 4, said the company in its statement.

Helloworld, one of the country’s largest travel agencies, says it is operating profitably again across all of its markets after upgrading guidance as spending on tourism rises.

GST) revenue maintained the recent robust pace of growth, rising 11% from a year earlier to ₹1.65 lakh crore in July, showed data released on Tuesday. Other high-frequency indicators available for July indicated the economy has carried over the strong first-quarter momentum into the second quarter. Automobile companies reported their best-ever July despatches, sending 352,500 cars to dealerships, a 3.1% rise from a year earlier.

Britannia Industries have weakened of late as concerns over rural sales growth and troubles at group company Go First Airlines weighed down investor sentiment. The stock fell 4.2% in the past month to ₹4,818 on Tuesday as against the 0.6% advance in the Nifty FMCG Index. «There is an apprehension that sales may be impacted with slower recovery in rural areas than expected,» said Nirvi Ashar, fundamental research analyst at Religare Broking.

Stocks that traded heavily or had substantial price changes on Tuesday: Caterpillar, Oshkosh rise; JetBlue Airways, Rockwell Automation fall

JetBlue shares are losing altitude as the airline warns that third-quarter and full-year results will be worse than it had previously expected

The number of Qantas passengers disgruntled about refunds, being unable to use $400 million worth of credits issued since the pandemic, poor service and flight cancellations continued to soar in 2022, as pressure mounts on the government to act on competition in the aviation sector.

DGCA has approved IndiGo's plans to start flight services to Almaty in Kazakhstan. The country's largest airline by domestic market share has embarked on an ambitious international expansion.

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By Kannaki Deka

HDFC AMC has announced the launch of the HDFC Transportation and Logistics Fund which plans to invest in companies that are at the forefront of the Transportation and Logistics sector.