New Delhi, June 7 (IANS) Global airlines’ 2026 net profit forecast has been halved to $23 billion from $45 billion in 2025 due to escalating fuel costs driven by the Middle East conflict, according to an IATA outlook report released on Sunday.The International Air Transport Association (IATA), which represents more than 370 airlines accounting for about 85 per cent of global air traffic, said in its annual report, released in Rio de Janeiro, that it now expects the industry to post a combi…
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New Delhi, June 4 (IANS) Amid the evolving situation in West Asia, the Centre on Thursday assured that all refineries in the country are operating at high capacity with adequate crude inventories, while sufficient stocks of petrol, diesel, and LPG are being maintained to ensure uninterrupted supply across sectors.In a related development, the Civil Aviation Ministry announced that the Union Cabinet has approved a one-time budgetary support mechanism of up to Rs 10,000 crore to provide ATF price …
New Delhi, May 9 (IANS) PHD Chamber of Commerce and Industry (PHDCCI) on Saturday welcomed the government’s decision to approve a Rs 5,000 crore emergency credit support scheme for airlines under ‘ECLGS 5.0’ to address the financial and operational stress arising from the ongoing West Asia crisis.Rajeev Juneja, President, PHDCCI, said, “The Government’s swift intervention through the Rs 5,000 crore emergency credit scheme demonstrates strong policy responsiveness towards one of the most cr…
New Delhi, May 1 (IANS) Aviation turbine fuel (ATF) prices for foreign carriers were raised by around 5 per cent on Friday — marking the second consecutive monthly increase, even as domestic airlines were shielded from any revision.State-run oil marketing companies, including Indian Oil Corporation, revised the rates in line with elevated global energy prices.The hike applies only to international operations and foreign carriers, while ATF prices for domestic airlines remain unchanged.In Delhi,…
New Delhi, May 1 (IANS) Noida International Airport on Friday announced that commercial flight operations will commence from June 15 — marking a major milestone for aviation connectivity in North India.The launch follows the airport’s inauguration by the Prime Minister and the approval of the Aerodrome Security Program (ASP) by the Bureau of Civil Aviation Security, confirming that all security systems and operational protocols are in place in line with regulatory standards.“The start of se…
New Delhi, April 19 (IANS) A team of around a dozen Indian officials is set to arrive in Washington, D.C. on April 20 for a three-day round of negotiations with US authorities, marking the next step in discussions on the first phase of a proposed bilateral trade agreement (BTA). The talks, scheduled from April 20 to 22, will be led by India’s chief negotiator Darpan Jain, an additional secretary in the Department of Commerce, along with representatives from the customs department and the exter…
New Delhi, April 16 (IANS) India’s tourism and hospitality sectors remain resilient on strong domestic demand, even as the ongoing West Asia conflict disrupts international travel, an industry body said on Thursday.Despite global headwinds, the hospitality sector remains relatively stable, supported by a strong ‘V-shaped’ recovery and robust domestic demand, according to a report by PHD Chamber of Commerce and Industry (PHDCCI).Moreover, the restaurant and food services segment also saw mixed …
New Delhi, April 1 (IANS) Prime Minister Narendra Modi on Wednesday chaired a special meeting of the Cabinet Committee on Security (CCS) to review measures taken by various Ministries/Departments and also discussed further initiatives to be taken in the context of the ongoing West Asia conflict.Prime Minister directed all concerned departments to take all possible measures to ameliorate the problems of citizens and sectors affected by the ongoing global situation.PM Modi assessed the availabilit…
New Delhi, March 9 (IANS) A sustained rise in crude oil prices due to the US-Iran war will benefit upstream oil exploration companies, energy infrastructure companies and select refineries while pressuring oil‑sensitive sectors such as aviation, paints, tyres, chemicals and logistics, a report said on Monday.Apart from these sectors, the report from Axis Securities recommended overweight positions also in defence and infrastructure, adding that stocks in less oil-sensitive sectors such as bank…
Mumbai, March 1 (IANS) Escalating tensions between Israel and Iran are expected to weigh on Indian markets in the near term, mainly driven by a rise in energy prices, analysts said on Sunday.Analysts said that oil marketing companies, aviation, paints, autos, consumer discretionary and logistics could face pressure due to the tension in the Middle East.The immediate market reaction is likely to be negative as investors assess whether the flare‑up will become a prolonged conflict or remain a sh…