Aviat Financial News

DGCA on Wednesday said it has suspended the authorisation of RedBird Flight Training Academy for carrying out maintenance of its aircraft after finding deficiencies in an audit carried out in the wake of two incidents of crash landing last month. After the two incidents of aircraft crash landing within a span of one week in October, the Directorate General of Civil Aviation (DGCA) had suspended the operations of Redbird Flight Training Academy at all its bases. A special maintenance audit was carried out at the training academy's main base in Baramati, Maharashtra and at four sub-bases in Seoni, Madhya Pradesh; Kalburgi and Belgavi in Karnataka; and Lilabari, Assam.

₹10 lakh on Air India for its failure to comply with rules pertaining to facilities that are required to be provided to passengers. The DGCA had carried out inspections of airlines at Delhi, Kochi and Bangalore airports, and found that Air India was not complying with the provisions of the relevant Civil Aviation Requirement (CAR).

DGCA has imposed a penalty of Rs 10 lakh on Air India for its failure to comply with norms pertaining to facilities that are required to be provided to passengers. After carrying out inspections of airlines at Delhi, Kochi and Bangalore airports, the regulator observed that Air India was not complying with the provisions of the relevant Civil Aviation Requirement (CAR).

Statistics Canada says airfares have plummeted over the past year, as airlines shore up capacity even while consumers think twice about travelling in a world of higher costs.

About a third of Qantas, Jetstar and Virgin Australia domestic flights were late in October, new official statistics show.

SpaceX launched its mega rocket Starship but lost both the booster and the spacecraft in a pair of explosions minutes into a second test flight

Indian railway stocks have witnessed an unprecedented surge in their stock prices over the past two years, with some stocks skyrocketing from less than ₹20 to as high as ₹100 during the bull market. This remarkable growth can be attributed to the industry's vast scale, extensive network connections, and the anticipated surge in demand for its services. India's rapid economic growth is fueling an increase in demand for both freight and passenger rail services.

London/Singapore | Airlines are struggling to convince investors to back the travel recovery despite reporting booming profits and splurging tens of billions of dollars on new planes.

Also read: For India to become an aviation hub, first fix airport terminal connectivity Groupe ADP operates the two airports in Paris and has stakes in TAV Airports - the Turkish company, which owns or operates airports across multiple countries from Kazakhstan to Chile. The investments were linked to GMR infrastructure, the listed company, reorganising itself into GMR Airports and the non-airport assets being separated. For the nine months ended September, total traffic at the two airports in Paris stood at 75,563,078.

Bank of India (RBI) watched almost helplessly as the residuary non-bank finance company (the term then used for the main engine of the group, Sahara India and Financial Corp) went on to garner deposits from ignorant savers, captivated by its charismatic promoter, the promise of high returns and the dramatic growth of the group. At one point of time, it was the country’s biggest employer after the Indian Railways, according to Time magazine.

Macquarie’s green investments arm has backed a $10 billion initiative for a fast-tracked expansion into Australia’s renewables sector, building on the bank’s long-standing presence in clean energy and appetite for returns linked to decarbonisation.

Defence Minister Bill Blair says Canada needs to invest more in military capabilities amid “evolving” global security threats, and as the federal government attempts to pare down government spending across the board.Blair told an international crowd of military personnel, politicians and civil society leaders at the Halifax International Security Forum Friday that Canada needs to put “resources … behind our aspirations.”“We must step up to address these challenges, and to preserve peace and prosperity for our peoples,” Blair said, referencing Russia’s ongoing invasion of Ukraine and the Israel-Hamas conflict as well as heightened tensions with China.“We have a lot of work to do.”Blair’s comment could be read as an understatement.The Liberal government has yet to deliver a promised update to its 2017 defence policy – an update that was thought to be imminent at the last Halifax forum in 2022.The federal government is also looking for as much as $1 billion in savings from the Canadian Armed Forces (CAF), as Treasury Board President Anita Anand – the former defence minister – attempts to rein in spending.At the same time, the CAF has been stretched thin both by domestic deployments in the wake of natural disasters and by Canada shipping equipment to Ukrainian forces trying to push back Russia’s invasion.Speaking to an aerospace industry conference earlier this month, Blair said he told officials that the long-awaited defence policy update needed more clarity in terms of where the Canadian government plans to spend money.Until that update is released, defence experts told Global News, it will be difficult for allies to take the Canadian government at its word when it comes to stepping up.“(Canada) has to show that it can

Logistics Performance Index (LPI) ranking. Sumita Dawra, Special Secretary (Logistics) in the Department for Promotion of Industry and Internal Trade (DPIIT) met the nodal officers of the LPI dedicated cell formed in the stakeholder departments on Friday to discuss the Measures Taken and Action Plan for improving India’s LPI ranking. Dawra said that a targeted action plan is important to improve the logistics efficiency of the country and the country’s ranking in the World Bank LPI, according to a statement issued by the commerce and industry ministry. The dedicated cell meets every fortnight to assess the measures taken and outcomes achieved in improving performance across six parameters of LPI including customs, infrastructure, ease of arranging shipments, quality of logistics services, tracking and tracing, and timeliness. She added that the measures taken by the stakeholder ministries/departments will be showcased to the World Bank LPI team. At the meeting, Land Ports Authority of India (LPAI), highlighted that it has implemented a Land Port Management System to digitise operations and facilitate a secure electronic flow of information between all stakeholders at the integrated check posts, aimed to reduce the dwell time of cross-border movements (trade and passenger), enhance the efficiency of customs and border management clearance, and improve the timely delivery of shipments. As per the release, LPAI has been able to reduce the dwell time from 57 days to less than 24 hours. Manoj Gangeya, ED (Planning), at railways ministry highlighted the development of rail containerisation at ports and freight terminals, which is expected to increase the rail container loading from 80 million tonnes recorded last year

World Cup final happening in Ahmedabad on Sunday, November 19. Prime Minister Narendra Modi and Australia's Deputy Prime Minister Richard Marles will attend the ICC Cricket World Cup final between India and Australia in Ahmedabad on Sunday, an official release said. According to the Times of India, Pannun said in the latest threat video, "Also, on 19th November, the global Sikh community is going to boycott Air India from Ahmedabad airport, Amritsar and Delhi.

₹12,035.41 crore and purchased over ₹11,557, resulting in an inflow of ₹ 477.6 crore on Friday. Meanwhile, DIIs invested ₹ 6,849 crore and offloaded ₹ 7,414 crore, registering an inflow of ₹ 565.48 crore. On November 16, FIIs snapped their selling streak by purchasing worth ₹13,546 crore amid festive season after the stock market ended on a higher note for the second day straight.

₹6,300 a tonne, according to an official notification. For the past two weeks the the levy stood at ₹9,800 a tonne. The revised tax rate comes into effect from Thursday.

DGCA showed that IndiGo carried 79.07 lakh passengers, garnering a domestic market share of 62.6% in October. The market share was lower compared to 63.4% registered in September.

By Tim Hepher, Alexander Cornwell and Pesha Magid

Oil And Natural Gas Corporation with a target price of Rs 235. The current market price of Oil And Natural Gas Corporation Ltd.

GrainCorp has unveiled a $50 million share buyback and declared a special dividend in a sign of confidence the business can withstand adverse weather conditions expected to affect Australian farmers.

Elon Musk has denied a report that his rocket company was discussing an initial public offering (IPO) for its satellite internet business, Starlink, as soon as 2024. Musk called the report 'false' on the social media platform X, saying SpaceX had been moving the unit's assets to a wholly owned unit that would ultimately be spun off. Elon Musk's SpaceX will be worth half-a-trillion dollars by 2030: Billionaire investor explains why SpaceX has an estimated value of $150 billion and was the first private company to send humans into orbit.