New Delhi: The Civil Aviation regulator DGCA has cancelled 257 slots which were allotted to various airlines in the winter schedule as they were lying unused, Government said today.
The DGCA had approved 1,910 slots to various airlines for operating flights in this winter schedule, which came into effect from 30 October. But airlines were utilising only 1,643 slots, civil aviation minister Valayar Ravi said Thursday.
Of these, Kingfisher was utilising only 243 slots against the allotted 418, low-cost carriers SpiceJet and IndiGo were using only 250 and 259 slots against the allotted 283 and 291 respectively.
GoAir and Air India’s subsidiary Alliance Air were the only two operators which have been utilising all of their slots.
Just seven slots allotted to national carrier Air India were lying unused, the airline had been alloted 262 slots and it was operating flights on 255. Similarly, Jet Airways and JetLite were utilising 395 and 109 slots against the allotted 404 and 120 respectively. (PTI)
Coal India down on reports of cut in output target
Mumbai: Shares of Coal India fell on media reports the company lowered its production target for the ongoing financial year ending March 2012 to at least 440 million tonne from the earlier estimate of 452 million tonne, dealers said.
The reports quoted chairman N.C. Jha saying the company has kept production target of at least 440 million tonnes mainly due to heavy rainfall, strike and delays in the grant of forestry and environmental clearances to coal projects. (Reuters)
Tata Comm partners with IIM-A to encourage ICT entrepreneurs
Ahmedabad: Tata Communications, a Tata Group company, Thursday said it has partnered with IIM-Ahmedabad’s flagship iAccelerate programme to encourage entrepreneurs in the information and communications technology space.
iAccelerate is a flagship programme of the Centre for Innovation, Incubation and Entrepreneurship (CIIE) at IIM-A and has helped 17 successful start-ups in the information and communications technology (ICT) space since inception.
“This year, Tata Communications is partnering with iAccelerate to support both financially and infrastructure- wise. Eleven start-ups will be supported in the iAccelerate programme this year,” Tata Communications Senior Vice-President Srinivasa Addepalli said. (PTI)
Russia’s Putin says US encouraged election protests
Moscow: Prime Minister Vladimir Putin accused the United States of encouraging protests over Russia’s parliamentary election and said hundreds of millions of dollars in foreign funds were used to influence the vote.
In his first public remarks about daily demonstrations by protesters alleging Sunday’s vote was fraudulent and unfair, Putin said US secretary of state Hillary Clinton “gave a signal” to Kremlin opponents.
“She set the tone for some opposition activists, gave them a signal, they heard this signal and started active work,” Putin said.
Putin said some of the demonstrators who have protested daily over allegations of election fraud were pursuing selfish political aims and that most Russians do not want political upheaval.
“We are all adults here and we understand that some ... of the organisers act in accordance with a well-known scenario and in their own mercenary political interests,” he said.
The United States has expressed serious concern about the conduct of the Russian election, which Clinton suggested was not free or fair. (Reuters)
Australia’s big four banks cut mortgage rates
Sydney: Australia’s big four banks, which control about 90% of the country’s $1 trillion mortgage market, cut variable mortgage rates by 25 basis points on Thursday, after political pressure to pass on the central bank’s rate cut of earlier this week.
The National Australia Bank, Australia and New Zealand Banking Group and Westpac Banking Corp voiced concerns over rising cost of funds and shrinking margins, and ANZ left the door open for independent moves in the future.
The Commonwealth Bank of Australia (CBA) also cut its variable mortgage rate by 25 basis points, but made no comment about funding costs.
Australia’s four big banks have previously drawn flak for not passing on cuts in full or raising rates more than the central bank in a country where more than a third of 8.5 million households have a mortgage and banks are making record profits. (Reuters)