india Archives - globaltimes.pk

Adani group's market losses hit $100 bn as stocks sink after botched share sale

Adani group’s market losses hit $100 bn as stocks sink after botched share sale

India’s Adani group shares plunged on Thursday after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market...

Two Indian fighter jets crash after suspected mid-air collision in Madhya Pradesh

World1 week ago

Two Indian fighter jets crash after suspected mid-air collision in Madhya Pradesh

Two Indian fighter jets crashed in central state of Madhya Pradesh during a training exercise, Indian media reported on Saturday. The Su-30, with two pilots on...

17 Pakistanis imprisoned in India repatriated

pakistan1 week ago

17 Pakistanis imprisoned in India repatriated

17 Pakistani nationals imprisoned in the Indian jails were repatriated via Attari-Wagah border on Friday, told the Pakistan High Commission. Taking to Twitter, the commission wrote,...

Air India will on Friday seal half of an order for some 495 jets with Boeing (BA.N) and engine suppliers General Electric (GE.N) and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. After months of closely guarded, tough negotiations, Air India is set to place an order for 190 Boeing 737 MAX narrowbody planes as well as some 20 Boeing 787s and 10 Boeing 777X on a day marking one year since Tata Group took control of the former state-run carrier, two sources told Reuters. The second half of the order, which industry sources have told Reuters includes about 235 Airbus (AIR.PA) single-aisle jets and about 40 Airbus A350 widebody aircraft, is expected to be formally wrapped up over the coming days. Senior Boeing officials, including Stanley Deal, chief executive of Boeing Commercial Airplanes, along with GE and CFM executives are expected in India to mark the deal on Friday. Despite earlier expectations of a single coordinated announcement, it remains unclear when either deal may be publicly disclosed, especially with the Aero India air show looming in February when deals like this are usually revealed. Manufacturers Boeing and Airbus, as well as CFM s joint venture partners GE and Safran declined to comment. Air India did not respond to a request for comment but in a note to employees on Friday, marking its first anniversary under Tata s ownership, the airline said it is "finalising a historic order of new aircraft to power future growth". Reuters reported last month Air India was closing in on a deal for about 500 jets. The order, once finalised, aims to put Air India in the league of large global airlines and make it an influential customer for planemakers and suppliers at a time when its home market is seeing a strong post-COVID-19 travel surge. Domestic passenger air traffic in India grew 47% in 2022 from a year earlier, government data showed. Analysts caution the airline faces intense competition given the connectivity carved out by domestic and international rivals. India, which is set to overtake China as the world s most populous country, has a large, under-served air travel market dominated by budget carrier IndiGo (INGL.NS). The bulk of India s outbound passenger traffic, however, is carried by Middle Eastern airlines like Emirates and Qatar Airways. RESURGENT AIR INDIA Under its new owners, Air India is looking to restore its reputation at home and abroad as a storied carrier with impeccable service and world-class planes. It has put back in service nearly 20 aircraft that had been grounded for years due to lack of parts and money. The airline has also said it will spend more than $400 million to refurbish its entire legacy wide body fleet of 27 Boeing 787-8s and 13 777 aircraft. The aim is to corner 30% of the domestic market over the next five years thus narrowing the gap with market leader IndiGo. It also wants to increase by "multiples" its share of international travel, the airline s chief executive, Campbell Wilson, has said. Tata s four airlines, including two budget carriers, Air India and Vistara its joint venture with Singapore Airlines (SIAL.SI), have a combined market share of 24%. Analysts have said Air India has the ability to claw back some passengers from rival Gulf carriers but not before it matches their quality of fleet and service. Nor will the domestic battle with IndiGo happen without tough competition from a carrier that continues to expand.

Business1 week ago

Tata’s Air India to seal half of jumbo plane order: sources

Air India will on Friday seal half of an order for some 495 jets with Boeing (BA.N) and engine suppliers General Electric (GE.N) and CFM International,...

pakistan1 week ago

No backchannel diplomacy with India, says Pakistan

Minister of State for Foreign Affairs Hina Rabbani Khar categorically stated on Thursday no backchannel diplomacy was taking place with India. She stated this during question...

Pakistan, India were on verge of nuclear war after Balakot incident: Pompeo

pakistan1 week ago

Pakistan, India were on verge of nuclear war after Balakot incident: Pompeo

Former US secretary of state Mike Pompeo wrote in a book published Tuesday that India and Pakistan came close to nuclear war in 2019 and that US intervention...

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All posts tagged "india"

Adani group’s market losses hit $100 bn as stocks sink after botched share sale

Two Indian fighter jets crash after suspected mid-air collision in Madhya Pradesh

17 Pakistanis imprisoned in India repatriated

Tata’s Air India to seal half of jumbo plane order: sources

No backchannel diplomacy with India, says Pakistan

Pakistan, India were on verge of nuclear war after Balakot incident: Pompeo

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