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Business Standard
4 days ago
- Business
- Business Standard
Vadra skips ED summons again, cites court's permission to travel abroad
Robert Vadra, the businessman husband of Congress MP Priyanka Gandhi Vadra, skipped his scheduled deposition before the Enforcement Directorate for the second time in a money laundering case linked to UK-based arms consultant Sanjay Bhandari, official sources said on Tuesday. Vadra's lawyer said his client was travelling abroad with the "prior" permission of the court to attend his daughter's graduation ceremony. He was asked to appear on Tuesday (June 17) after he failed to do so on June 10. The federal probe agency may issue him a fresh date after examining his reply. The permission to travel (on June 17) was obtained well before the service of the latest summons and an intimation has been sent to the ED also, advocate Suman Jyoti Khaitan said. "Mr Vadra has repeatedly stated that he is available to extend his fullest cooperation with the ED as he has done on all prior occasions, both upon his return from abroad and also for recording his statement through video conference during his stay abroad if required by them," he said. The businessman had skipped the June 10 summons saying he had flu-like symptoms on June 9 and had undertaken a Covid test as per protocol. The agency is understood to be summoning Vadra to record his statement under the Prevention of Money Laundering Act (PMLA) and subsequently file a charge sheet in the case. The federal probe agency had questioned the businessman for three consecutive days in April in a separate money laundering case linked to alleged irregularities in a 2008 land deal in Haryana. He is being investigated in three money laundering cases by the ED. Bhandari (63), an alleged associate of Vadra, fled to London in 2016, soon after the Income Tax Department raided him in Delhi. A UK court earlier this month refused an application filed by the Indian government seeking permission to appeal in Britain's Supreme Court against the discharge of Bhandari in an extradition case, virtually ruling out chances of him being brought to the country to face the law. The ED filed a charge sheet in this case in 2023, alleging that Bhandari acquired the 12, Bryanston Square house in London in 2009 and got it renovated "as per the directions of Robert Vadra, who provided the funds for the renovation". Vadra has denied that he owns any London property directly or indirectly. Terming the charges a "political witch hunt", Vadra said he was being "hounded and harassed" to subserve political ends. The ED is also investigating Vadra in a separate money laundering case linked to alleged financial irregularities in a land deal in Rajasthan's Bikaner.
DW
12-06-2025
- Business
- DW
Air India: What you need to know after crash – DW – 06/12/2025
A crash involving an Air India jet comes as the flag carrier undergoes a major revamp under the Tata Group's ownership. An Air India passenger plane with over 240 people on board crashed Thursday in India's northwestern city of Ahmedabad shortly after takeoff. The aircraft, a Boeing 787-8 Dreamliner, was bound for London's Gatwick Airport. It's one of the worst aviation disasters in the South Asian nation's history. The accident comes as the airline's owner, the Tata Group, is working to revamp the carrier. Airline with a rich history Founded in 1932 as Tata Airlines by Indian business tycoon J. R. D. Tata, Air India was once a national icon. The Indian government took over and nationalized the airline in 1953. Years of mismanagement and government interference in business operations turned the then national carrier into an inefficient, money-losing enterprise. After India opened up the civil aviation sector to private players in the 1990s, Air India struggled further with rising competition, particularly in the low-cost segment, leading to ballooning debts. Air India returns to the Tatas The Indian government's initial attempts to privatize Air India yielded no results due to the carrier's heavy debt burden. New Delhi also wanted to keep a share in the airline. No apparent survivors in Air India plane crash To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video As it struggled to find a buyer, the government ultimately gave up on retaining a stake and also settled for the buyer covering only a fraction of the airline's debts. Then, in 2022, India's largest and oldest conglomerate, the Tata Group, bought Air India for roughly $2.4 billion, marking the carrier's return to the Tata fold nearly seven decades after it was nationalized. How big is Air India? Prior to acquiring Air India, Tata had been operating two other airlines of its own, the budget carrier AirAsia India with Malaysian airline AirAsia Berhad, and full-service carrier Vistara, in a partnership with Singapore airlines. Last year, the company consolidated all the different airlines under its ownership into a combined Air India Group, which is currently the second-biggest airline in the South Asian nation in terms of passenger numbers, trailing only IndiGo in that respect. It commands a roughly 30% share of India's domestic traffic and accounts for 56% of international passengers among the country's airlines. The group has a fleet of about 300 aircraft, both narrow- and wide-body models from both Airbus and Boeing, and carried a total of 45.8 million domestic air passengers in 2024, according to Business Standard, an Indian daily. Air India's global network spans 31 countries across five continents, connecting India with destinations in Europe, North America and Asia Pacific. What did the Tatas do to revamp Air India? After the Tata Group purchased Air India, many hoped it would swiftly revive the airline's fortunes. The conglomerate has since sought to turn around the ailing carrier by ordering new jets and upgrading its existing fleet. It placed a major order for new planes — 470 in total — from Airbus and Boeing in February 2023. Last December, the airline announced it would buy a further 100 jets from Airbus. And Reuters news agency reported earlier in June that Air India was in talks with Airbus and Boeing for a major new aircraft deal including some 200 extra single-aisle planes. Air India flight crashes more withthan 240 people on board To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The company also unveiled a new logo and branding in mid-2023, in addition to plans to modernize its aircraft interiors, among other measures. In September 2024, Air India kicked off a $400 million (€345 million) refit program to revamp some legacy aircraft in its fleet. Some operational and internal issues related to the airlines' merger, however, are still being ironed out. What's the state of India's aviation market? India's aviation sector has witnessed rapid growth over the past decade amid robust economic expansion and people's rising disposable incomes. The industry is projected to maintain its growth path in the coming years, with more passengers, aircraft and airports. At present, India is the world's fourth-largest air market, including both domestic and international travel. The International Air Transport Association projects that it will become the third biggest over the next decade. The Indian government is also pumping billions into building new airports, as well as expanding and modernizing existing ones, earmarking around $11 billion for the purpose. It wants to increase the number of airports to between 350 and 400 by 2047, the centenary of India's independence. Additionally, India has become the world's largest aircraft purchaser after the US and China, with its fleet size set to grow from 713 to upwards of 2,000 over the next decade. Edited by: Wesley Rahn
DW
12-06-2025
- Business
- DW
What you need to know about Air India – DW – 06/12/2025
A crash involving an Air India jet comes as the flag-carrier undergoes a major revamp under the Tata Group's ownership. An Air India passenger plane with over 240 people on board crashed Thursday in India's northwestern city of Ahmedabad shortly after takeoff. The aircraft, a Boeing 787-8 Dreamliner, was bound for London's Gatwick Airport. It's one of the worst aviation disasters in the South Asian nation's history. The accident comes as the airline's owner, the Tata Group, is working to revamp the carrier. Airline with a rich history Founded in 1932 as Tata Airlines by Indian business tycoon J. R. D. Tata, Air India was once a national icon. The Indian government took over and nationalized the airline in 1953. Years of mismanagement and government interference in business operations turned the then national carrier into an inefficient, money-losing enterprise. After India opened up the civil aviation sector to private players in the 1990s, Air India struggled further with rising competition, particularly in the low-cost segment, leading to ballooning debts. No apparent survivors in Air India plane crash To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Air India returns to the Tatas The Indian government's initial attempts to privatize Air India yielded no results due to the carrier's heavy debt burden. New Delhi also wanted to keep a share in the airline. As it struggled to find a buyer, the government ultimately gave up on retaining a stake and also settled for the buyer covering only a fraction of the airline's debts. Then, in 2022, India's largest and oldest conglomerate, the Tata Group, bought Air India for roughly $2.4 billion, marking the carrier's return to the Tata fold nearly seven decades after it was nationalized. How big is Air India? Prior to acquiring Air India, Tata had been operating two other airlines of its own, the budget carrier AirAsia India with Malaysian airline AirAsia Berhad, and full-service carrier Vistara in a partnership with Singapore airlines. Last year, the company consolidated all the different airlines under its ownership into a combined Air India Group, which is currently the second-biggest airline in the South Asian nation in terms of passenger numbers, next only to IndiGo. It commands a roughly 30% share of India's domestic traffic and accounts for 56% of international passengers among the country's airlines. The group has a fleet of about 300 aircraft, both narrow- and wide-body models from both Airbus and Boeing, and carried a total of 45.8 million domestic air passengers in 2024, according to Business Standard, an Indian daily. Air India's global network spans 31 countries across five continents, connecting India with destinations in Europe, North America and Asia Pacific. What did the Tatas do to revamp Air India? After the Tata Group purchased Air India, many hoped it would swiftly revive the airline's fortunes. The conglomerate has since sought to turn around the ailing carrier by ordering new jets and upgrading its existing fleet. It placed a major order for new planes — 470 in total — from Airbus and Boeing in February 2023. Last December, the airline announced it would buy a further 100 jets from Airbus. And Reuters news agency reported earlier in June that Air India was in talks with Airbus and Boeing for a major new aircraft deal including some 200 extra single-aisle planes. The company also unveiled a new logo and branding in mid-2023, in addition to plans to modernize its aircraft interiors, among other measures. In September 2024, Air India kicked off a $400 million refit program to revamp some legacy aircraft in its fleet. Some operational and internal issues related to the airlines' merger, however, are still being ironed out. What's the state of India's aviation market? India's aviation sector has witnessed rapid growth over the past decade amid robust economic expansion and people's rising disposable incomes. The industry is projected to maintain its growth path in the coming years, with more passengers, aircraft and airports. At present, India is the world's fourth-largest air market, including both domestic and international travel. The International Air Transport Association projects that it will become the third biggest over the next decade. The Indian government is also pumping billions into building new airports, as well as expanding and modernizing existing ones, earmarking around $11 billion for the purpose. It wants to increase the number of airports to between 350 and 400 by 2047, the centenary of India's independence. Additionally, India has become the world's largest aircraft purchaser after the US and China, with its fleet size set to grow from 713 to upwards of 2,000 over the next decade. Edited by: Wesley Rahn
News18
12-06-2025
- Business
- News18
From 2022 Takeover To Mega Merger: A Look At Air India's Turbulent Journey Amid Tragedy
Last Updated: Tata Group took over the airline's operations in a $2.2 billion deal in 2022, and has since tried to revive its fortunes A Boeing 787 Dreamliner operated by Air India, one of its home country's largest airlines, crashed moments after take-off on Thursday on a flight from Ahmedabad to London Gatwick, killing at least 30. Here are the facts about the airline's long history: FOUNDED IN 1932 Air India was started by entrepreneur JRD Tata in 1932, before being taken over by the Indian government in 1953. Under the government, years of mismanagement and rising competition led to ballooning debts at the carrier. Tata Group took over the airline's operations in a $2.2 billion deal in 2022, and has since tried to revive its fortunes. FLEET, ROUTES Air India currently flies to 43 domestic and 41 international destinations. As of May, it operates 191 aircraft, a mix of narrow- and wide-body models from both Airbus and Boeing. It is currently the country's only airline to fly non-stop to long-haul destinations, from Australia to Europe and North America. Its low-cost unit, Air India Express, flies to 55 destinations in India and abroad, with a focus on the Middle East. Tata Group merged Air India and Air India Express with its existing carriers Vistara and AIX Connect in November to form India's largest airline group after IndiGo. Air India has merged with Vistara, while Air India Express combined with AIX Connect. The airlines command a roughly 30% share of India's domestic aviation market. Singapore Airlines, which started full-service carrier Vistara with the Tatas, is a 25% owner of the combined Air India Group. Air India placed what was then the world's largest aircraft order for a combined 470 jets from Airbus and Boeing in February 2023. This was topped up with an order for another 100 jets from Airbus in December last year. Air India is in talks with Airbus and Boeing for a major new aircraft deal including some 200 extra single-aisle planes, Reuters reported earlier in June. The company in mid-2023 unveiled a new logo, branding and plane livery. It also embarked on a $400 million refurbishment and retrofitting plan of its aircraft interiors, which has been dogged by supply chain delays. The carrier has retrofitted most of its single aisle Airbus A320 neo aircraft and is working on updating its long-haul Boeing 777 and 787 jets. First Published: June 12, 2025, 18:52 IST
Time of India
12-06-2025
- Business
- Time of India
Air India's long history as it faces crisis of Ahmedabad crash
At least 30 people were killed when an Air India Boeing 787 Dreamliner crashed moments after takeoff from Ahmedabad on Thursday. The flight was bound for London Gatwick. The incident has cast a spotlight on the carrier's long and complex history. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A Boeing 787 Dreamliner operated by Air India , one of its home country's largest airlines, crashed moments after take-off on Thursday on a flight from Ahmedabad to London Gatwick, killing at least are the facts about the airline's long history:Air India was started by entrepreneur JRD Tata in 1932, before being taken over by the Indian government in 1953. Under the government, years of mismanagement and rising competition led to ballooning debts at the carrier. Tata Group took over the airline's operations in a $2.2 billion deal in 2022, and has since tried to revive its India currently flies to 43 domestic and 41 international destinations. As of May, it operates 191 aircraft, a mix of narrow- and wide-body models from both Airbus and is currently the country's only airline to fly non-stop to long-haul destinations, from Australia to Europe and North low-cost unit, Air India Express, flies to 55 destinations in India and abroad, with a focus on the Middle Group merged Air India and Air India Express with its existing carriers Vistara and AIX Connect in November to form India's largest airline group after India has merged with Vistara, while Air India Express combined with AIX Connect. The airlines command a roughly 30% share of India's domestic aviation Airlines, which started full-service carrier Vistara with the Tatas, is a 25% owner of the combined Air India India placed what was then the world's largest aircraft order for a combined 470 jets from Airbus and Boeing in February was topped up with an order for another 100 jets from Airbus in December last India is in talks with Airbus and Boeing for a major new aircraft deal including some 200 extra single-aisle planes, Reuters reported earlier in company in mid-2023 unveiled a new logo, branding and plane also embarked on a $400 million refurbishment and retrofitting plan of its aircraft interiors, which has been dogged by supply chain delays. The carrier has retrofitted most of its single aisle Airbus A320 neo aircraft and is working on updating its long-haul Boeing 777 and 787 jets.
