Economy

SpiceJet plans to double active fleet by November-end 

SpiceJet said that all five newly-added aircraft have already commenced commercial operations. Budget carrier SpiceJet plans to more than double its operational fleet and triple its passenger ferrying capacity (available seat kilometres) by the end of November. Industry estimates that SpiceJet has 32 aircraft in operation. Damp lease Accordingly, the carrier has inducted five additional […]

Brookfield India REIT plans to acquire 7.7 million sq ft business park for over ₹13,000 crore

Brookfield India Real Estate Trust (BIRET) has said it is planning to acquire 7.7 million sq ft of commercial assets in Bengaluru for ₹13,125 crore to expand business. Brookfield India Real Estate Trust (BIRET) has said it is planning to acquire 7.7 million sq ft of commercial assets in Bengaluru for ₹13,125 crore to expand […]

Economy

DGCA plans overhaul of air ticket refund, cancellation rules

Flight ticket booking concept with downtown San Francisco skyline buildings | Photo Credit: Melpomenem India’s aviation regulator has proposed an overhaul of airline ticket refund and cancellation norms. The Directorate General of Civil Aviation (DGCA) has outlined a framework aimed at addressing long-standing passenger grievances over high cancellation charges, opaque fare structures, and delayed refunds. […]

Economy

Regulator plans major overhaul of air ticket refund, cancellation rules

According to the draft norms, airlines must process credit card refunds within seven days of cancellation, while cash refunds must be made immediately at the airline’s office | Photo Credit: SRINATH M India’s aviation regulator has proposed a sweeping overhaul of airline ticket refund and cancellation norms. Accordingly, the Directorate General of Civil Aviation (DGCA) […]

Preparing to settle in Portugal? Think again: Lisbon doubles citizenship timeline; wealthy Indians rethink golden visa plans

Portugal has made a major change to its citizenship rules, doubling the minimum time foreigners must live in the country before being eligible for a passport, from five years to as long as ten. The move has given a major blow to the plans of wealthy Indians who used Portugal’s golden visa route to eventually […]

Economy

AirAsia plans up to $600 million bond to replace private credit

The group is also seeking a 6.8 billion ringgit ($1.6 billion) restructuring to create a new, listed entity that will simplify its operations by combining its various airline units. | Photo Credit: REUTERS/HASNOOR HUSSAIN AirAsia Aviation Group plans to raise as much as $600 million, replacing a private credit facility with a lower-interest bearing bond, […]

Economy

IntrCity SmartBus secures ₹250 crore series D, plans to triple daily trips in 3 years

Mobility platform IntrCity SmartBus has closed a ₹250 crore Series D funding round led by A91 Partners. The company plans to use the funds to enhance customer travel experience, upgrade its fleet management technology platform, and expand its network across Tier-2 and Tier-3 cities. IntrCity said it is on track to double its fleet and […]