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Crisis-hit <keyword id="11252024" type="General" weightage="20" keywordseo="Go-First" source="Orion">Go First</keyword> has sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline. The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set to be heard by the Delhi bench of the NCLT on Thursday. Go First has cancelled all its flights for three days starting from May 3. In its petition filed before NCLT, the budget airline has sought directions to restrain aircraft lessors from taking any recovery action as well as restrain the DGCA and suppliers of essential goods and services from initiating adverse actions. Another plea is that the DGCA, Airports Authority of India (AAI), and private airport operators should not cancel any departure and parking slots allotted to the company. The airline also wants fuel suppliers to continue supply for aircraft operations and not terminate the present contractual arrangements. Go First, which started flying more than 17 years ago, has said the non-supply of engines by Pratt &amp; Whitney resulting in the grounding of more than half of its fleet has led to the current situation. The carrier has total liabilities of Rs 11,463 crore to all creditors, including a default of Rs 3,856 crore towards operational creditors. The dues towards aircraft lessors is Rs 2,600 crore, according to the plea filed before NCLT. As on April 30, the debt exposure towards financial creditors stood at Rs 6,521 crore. The airline's net loss rose to Rs 3,600 crore last fiscal from Rs 1,807.8 crore in 2021-22. The net loss was at Rs 1,346.72 crore in 2020-21. Further, Go First has cited the example of Jet Airways, saying that lessors took swift re-possession of the planes leading to serious depletion of its asset value. Citing Jet Airways, the Wadia group firm said prior to insolvency, it had a fleet size of 112 aircraft. However, after the insolvency was triggered against Jet Airways, it was left with only 11 aircraft, which significantly affected its prospects of resolution under IBC, said Go First. CIRP refers to Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code (IBC). Go First has a domestic market share of around 8 per cent. With Air India, AirAsia and SpiceJet already reeling under financial stress, if Go First is not resolved, then it will further monopolise the market leading to loss of consumers and all the stakeholders, it said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hiring-in-it-companies-like-tcs-wipro-infosys-hcl-tech-plunges-by-66-in-fy23/articleshow/99960690.cms">Hiring in the IT sector plunges by 66% in FY23</a> <a href="https://www.businessinsider.in/business/corporates/news/titan-q4-net-profit-rises-50-to-734-crore-as-wedding-segment-makes-a-comeback/articleshow/99964029.cms">Titan Q4 net profit rises 50% to ₹734 crore as wedding segment makes a comeback</a> <a href="https://www.businessinsider.in/stock-market/news/go-first-impact-market-capitalisation-of-3-psu-banks-down-by-7500-crore-as-investors-fret-over-their-exposure-to-ailing-airline/articleshow/99953433.cms">Go First Impact: Market capitalisation of 3 PSU Banks down by ₹7,500 crore as investors fret over their exposure to ailing airline</a>

Go First seeks NCLT directions to restrain lessors, regulator from taking any action

Prime Minister Modi has talked about improving air connectivity in the country, a step that would require a total of 200 additional airports in the distant future. For this purpose, Airports Authority of India (AAI), the force behind the country’s civil aviation infrastructure has plans of functionalise almost 50 airports over the next 10 years. 
 
For identifying the airports that need to be operationalised in tier 2 and tier 3 cities across the country, Indian government has constituted an inter-ministerial task force. "In order to meet the objective of inclusive growth, the government plans to enhance regional and remote connectivity in a time-bound manner. To augment air connectivity throughout India, more than 200 operational airports are required," RK Srivastava, who serves as the chairman of AAI, told ET. 
 
Srivastava also stated that lastyear, the authority was given a go-ahead to develop five airports at Kishangarh, Belgaum, Hubli, Jharusuguda and Tezu, and work is under process for the same. In the next 10 years, at least 50 additional airports would be functionalised. Presently, we have almost 450 airports and airstrips, which are spread across the length and breadth of the country. However, merely 125 of these are operational, while the rest remain unused for one or the other reason. 
 
We also told you about government’s plan to roll out a <a href="http://www.businessinsider.in/Soon-Rs-2500/hr-flights-No-fuel-charges-ortax-added/articleshow/49659225.cms">standard rate of Rs 2500 per hour</a> for short-distance and regional flights. Planning airports in smaller cities is in sync with this step. However, until and unless these airports are in a viable, working condition, these plans would not bear any fruits. 
 
<a href="https://c2.staticflickr.com/4/3101/2784009682_d2b9a3b10d_b.jpg">Image Source</a>

50 new airports coming up in India in the
next 10 yrs!

<keyword id="2581360" type="UNKNOWN" weightage="20" keywordseo="Mangaluru-International-Airport">Mangaluru International Airport</keyword> (MIA) has been awarded the best in South India. Also it has been rated the third among all the 52 airports in the country. 
 <keyword id="54875" type="ORGANIZATION" weightage="20" keywordseo="Airports-Authority-of-India">Airports Authority of India</keyword> (<keyword id="47439" type="COMPANY" weightage="20" keywordseo="Aai">AAI</keyword>) conducts survey of all the airports once in six months through an external agency. The performances of all the airports are rated on the basis of overall customer satisfaction, according to a news report by an agency. 
 
In the latest survey pertaining to the half year ended December last year, MIA secured 4.72 points out of 5. 
 Airport Director <keyword id="3749654" type="UNKNOWN" weightage="20" keywordseo="j-t-radhakrishna">J T Radhakrishna</keyword> said in a release here that the rating reflects giant strides made by MIA in the segments of passenger handling and customer satisfaction. 
 Chandigarh airport has taken the top slot in the survey, followed by <keyword id="45327" type="CITY" weightage="20" keywordseo="Raipur">Raipur</keyword>, with the third position being shared by <keyword id="2562160" type="UNKNOWN" weightage="20" keywordseo="Mangaluru">Mangaluru</keyword> and <keyword id="42774" type="COMPANY" weightage="20" keywordseo="Udaipur">Udaipur</keyword> airports. 
 
The survey covers areas like achievement of the airport, performance of staff, facilities, customs and immigration facilities and safety, the release said.

Mangaluru International Airport
awarded the best in south India

Surat has identified over 92 containment zones as the city accounts for second-highest number of cases in the state

There were several key messages from the budget this year, but the three which seem to stand out are in the areas of boosting infrastructure growth, reinvigorating rural demand and the rebooting financial sector. 
 
For boosting infrastructure, the roads sector is given an unprecedented Rs 97,000 crore of investment allocated in this year's budget. It is expected to have a multiplier effect on the economy in the coming years and help in efficient transportation. This along with the Rs 1.21 lakh crore CAPEX in railways seems to be a major thrust of the union government going ahead. 
 
The government is expected to approve 10,000 km of National Highways in Fiscal 2016-17 apart from the plan to upgrade 50,000 Km of state highways to national highways. 
 
Apart from this, the move to develop airstrips of AAI in some of the towns in India is another positive step concerning infrastructure. Similarly, the plan to reinvigorate PPPs in infrastructure is also a positive one which may help private sector step in for some investment. 
 
Second, for reinvigorating rural demand two related sectors have been targeted. One is the agriculture sector which has seen two back to back seasons of scanty rainfall. For the farmers in the sector, the announcement of a Fasal Bima Yojana will provide relief. And so will the move to create irrigation infrastructure through the strengthening of the Pradhan Mantri Krishi Sinchai Yojana over the long term. 
 The creation of the e-platform for farmers to sell their produce in wholesale markets across the country will aid in more freedom to the farmers to sell their produce. The change in the APMC Act in 12 states about the same is a progressive step. For the rural sector, which is the second sector, the structural step to give more funds to Panchayats and Municipalities (Rs 2.87 lakh crore) as per the recommendations of the Fourteenth <keyword id="74136" type="ORGANIZATION" weightage="20" keywordseo="finance-commission">Finance Commission</keyword> is taken. It is an appropriate step as it will lead to a massive devolution of funds to the third tier of governance. Similarly, the steps for development of urban clusters for market access and job generation will aid in strengthening the rural economy in the long term. The substantial allocations to MGNREGS (Rs 38500 crore) and the rural sector overall (Rs 87,765 crore) underlie the impetus that is being given to rural economy and demand in the sector. 
 
Third, another major focus area for the budget has been addressing the challenges of the financial sector. The introduction of the comprehensive Code on Resolution of Financial Firms in Parliament, as well as the code on Bankruptcy when enacted, will help in resolution as well as help bring in more accountability in the financial system. Also, the PSU banks have been facing problems due to asset quality and rising NPA. 
 
In addition to the comprehensive INDRADHANUSH already being implemented, the budget has done well to provide an allocation of Rs 25,000 crore for the recapitalisation of PSU banks. Also, the motivation to solve people's problem at the retail level are worth mentioning. These include the intent to tackling the issue of illicit deposit taking schemes as well as the intent to provide better access to financial services in rural areas through the rollout of ATM's and Micro ATM's over the next three years. 
 
Apart from these broader sectors other things where the government has done well at the macro level include sticking to the fiscal deficit target of 3.9 percent and 3.5 percent for the years 2015-16 (R) and 2016-17 (B) respectively. 
 
The government has also announced a committee to look into the FRBM Act, 2003 which is a good thing considering that market conditions in India are different than they used to be in the past. On the personal tax front, not much is seen for the middle class and the EPF taxation seems to be a negative move that has seen some visible backlash on social media. Another negative on the personal front seems to be on duties on several items where almost everything seems to get expensive from jewellery to cars to mobile phones to air travel. The only thing that is getting cheaper it seems are shoes and footwear. All in all the budget seems to be good for the rural economy and infrastructure sector and seems to take care of the financial sector problems at hand but leaves much to done for the middle class. 
 
 
(The article is co-authored with Sankalp Sharma, Senior Researcher at the Institute for Competitiveness, India. Amit Kapoor is Chair, Institute for Competitiveness &amp; Editor of Thinkers. The views expressed are personal. Amit can be reached at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a> and tweets @kautiliya)

Three key things that standout from other measures in Budget 2016

<ul><li>The SGX Nifty was trading 0.62% higher at 7:45 am, indicating a higher start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Tuesday. The SGX Nifty was trading 0.62% higher at 7:45 am, indicating a green start for Nifty50. The US stock markets also soared on Monday, as encouraging economic data and election bets lifted indexes. The Dow Jones Industrial Average closed 423 points higher, and the S&amp;P 500 gained 1.23%. These are the stocks to watch out for during the trading session on November 3: Tata Motors Auto giant Tata Motors reported a 27% jump in its total domestic sales to 49,669 units in October. The passenger vehicle segment grew 80%, whereas the commercial vehicle segment witnessed a marginal growth at 2%. The shares of Tata Motors ended flat on Tuesday. Cadila Healthcare The drug major Cadila Healthcare reported an over four-fold jump in its consolidated net profit to ₹473.4 crore for the quarter ended September 30. The company had posted a net profit of ₹107.2 crore for the corresponding period of the previous financial year. The company has significantly reduced its net debt-by ₹2,709 crore in the first six months of FY21, which is a 40% reduction from net debt reported in March 2020. The shares of Cadila Healthcare ended 3% lower on Tuesday. NTPC The board of state-owned power giant NTPC has approved the buyback of 19.78 crore equity shares at a price of ₹115 per unit for an aggregate amount of ₹2,275.74 crore. The company has fixed November 13 as the record date for the purpose of ascertaining the eligibility of shareholders for buyback of equity shares. The shares of NTPC ended 2.23% higher on Tuesday. Sterlite Tech The fiber optic cable manufacturing company, Sterlite Tech said it would acquire Italy’s Optotec S.p.A., a company specializing in optical interconnect products, for €29 million. The company said that the acquisition would create a solid springboard to offer a complete bouquet of solutions to customers across Europe, India and the Middle East. The shares of Sterlite Tech ended 2% lower on Tuesday. Adani Enterprises The Airports Authority of India (AAI) handed over the Lucknow airport to the Adani group on lease for a period of 50 years. The AAI had signed concession agreements with the Adani group on February 14 for operations, management and development of the Mangaluru, Lucknow and Ahmedabad airports. The shares of Adani Enterprises ended 0.16% higher on Tuesday. Shipping Corporation of India The board of the Shipping Corporation of India is slated to meet on November 6 to discuss the demerger of non-core assets. The shares of Shipping Corporation of India ended 2% lower on Tuesday. Nagarjuna Construction Company Nagarjuna Construction Company (NCC) bagged orders worth ₹833 crore from the mining division of Coal India’s arm. The shares of Nagarjuna Construction Company ended 1% lower on Tuesday. Muthoot Finance, PVR, Sun Pharmaceutical Industries, Dabur and Adani Ports Muthoot Finance, PVR, Sun Pharmaceutical Industries, Dabur and Adani Ports are the top companies slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/international/news/multiple-casualties-reported-in-vienna-terrorist-attack-officials-say/articleshow/79009954.cms">At least 2 people dead and more than a dozen injured in Vienna terror attack</a> <a href="https://www.businessinsider.in/politics/world/news/how-the-electoral-college-works-and-how-the-president-will-be-selected-this-year/articleshow/77745886.cms">How the electoral college works and how the president will be selected this year</a>

Top stocks to watch — Tata Motors, NTPC, Cadila Healthcare, Adani Enterprises, Muthoot Finance, Dabur, and others

<ul><li>An <keyword id="158286" type="PERSON" weightage="20" keywordseo="Air-India-Express-plane">Air India Express plane</keyword> overshot the runway and crash landed at the Kozhikode airport in the Indian state of Kerala at around 7:45 pm on Friday evening.</li><li>It fell 35 feet into a valley and split into two, however, there was no fire onboard.</li><li>Air India Express has confirmed that both pilots perished in the plane crash.</li><li>Overall, the crash has left at least 18 dead, including two crew members, according to Aviation Minister Hardeep Singh Puri. </li><li>Puri added that two investigative teams of professionals from Air India, AAI and AIIB will leave for Kozhikodhe at 2:00 am and 5:00 am.</li><li>One of the pilots, Captain Deepak Sathe, was a <keyword id="9719074" type="UNKNOWN" weightage="20" keywordseo="former-air-force-pilot">former Air Force pilot</keyword> who used to fly the MiG 21 fighter aircraft.</li><li>The evacuation process has been completed and all injured are currently being treated at nearby hospitals.</li></ul>An Air India Express plane (IX 1344) coming to India from Dubai overshot the runway at Kozhikode airport in Kerala on Friday evening and crash landed in a valley. The incident occurred at around 7:45 pm. <div type="image" title="ians_air india 2." msid="77419977" hostid="261" caption="&amp;lt;p&amp;gt;The crashed Air India plane on lies off the runway at Kozhikode airport in Kerala&amp;lt;/p&amp;gt;"></div> According to aviation minister Hardeep Puri at least 18 people are dead."Relief teams from Air India &amp; AAI [Airport Authority of India] are being immediately dispatched from Delhi &amp; Mumbai. All efforts being made to help passengers," he said in a tweet adding that a formal inquiry will be conducted by the Aircraft Accident Investigation Bureau (AAIB). <div type="twitter" handle="HardeepSPuri" handlename="Hardeep Singh Puri" image="http://pbs.twimg.com/profile_images/1176854328184692737/P6qL9CFp_normal.jpg" favoritecount="1140" retweetcount="330" status="As per the flight manifest there were 190 people on flight AXB-1344 including 174 adult passengers,10 infants, 4 ca… https://t.co/W9plSo2Fmf" createdat="1596824766000" id="1291802817456254976"></div> The black box records the conversation between the pilots as well as with the air traffic control tower, apart from the flight data. According to aviation guidelines, the DGCA will conduct a detailed probe and identify the real cause of the accident. Two special relief flights have been arranged from Delhi and one from Mumbai for rendering humanitarian assistance to all the passengers and the family members. According to news agency PTI, one of the 18 passengers has tested positive for COVID-19. Health Minister K K Shailaja has asked all the people who were engaged in the rescue operations should report to the health authorities and go on self quarantine as a precautionary measure and get themselves tested. Air India express has also announced compensation for the victims. "To provide immediate relief, as an interim compensation AI Express will give Rs 10,00,000 to the next kin of the deceased passenger 12 years and above, Rs 5,00,000 to the passengers below the age of 12 years, Rs 200,000 to critically injured passenger and Rs 50,000 to the passenger who are injured in the incident," the statement said. Why did the plane crash? The plane had 174 passengers on board, including 10 infants, 6 crew members and two pilots. "We must remember that it is a tabletop runway at Kozhikode," said National Disaster Relief Force (NDRF) chief DG SN Pradhan. He explained that the plane landed on Runway 10 amid heavy rain leaving it with a visibility of 2,000 metres. <div type="twitter" handle="ANI" handlename="ANI" image="http://pbs.twimg.com/profile_images/1497864299/ani_mic_logo_normal.jpg" favoritecount="80" retweetcount="25" status="#WATCH Kerala: Dubai-Kozhikode Air India flight (IX-1344) with 190 people onboard, skidded during landing at Karipu… https://t.co/gxSHF0vqVW" createdat="1596815169000" id="1291762564251004931"></div> The flight skidded off the runway and plunged deep into a valley, where it then broke into two pieces, according to both the Air India spokesperson and the Directorate General of Civil Aviation (DGCA). Puri estimates that the valley was around 35 feet deep. <div type="twitter" handle="FlyWithIX" handlename="Air India Express" image="http://pbs.twimg.com/profile_images/1280066495960068100/1UnZqFin_normal.png" favoritecount="59" retweetcount="34" status="Air India Express Statement regarding incident involving Air India Express at Kozhikode https://t.co/UPOE0y5TEr" createdat="1596819951000" id="1291782619537928192"></div> A local resident told IANS, "I live around 20 meters away from the compound wall of the airport. Hearing the loud sound a few of us came rushing. We saw the cockpit of the aircraft jutting out of the compound wall."According to Pradhan, there seem to be injuries among all the passengers and some have been rendered unconscious. <div type="twitter" handle="DrSJaishankar" handlename="Dr. S. Jaishankar" image="http://pbs.twimg.com/profile_images/1252214301076709377/AnmXu-ff_normal.jpg" favoritecount="2175" retweetcount="312" status="Deeply distressed to hear about the Air India Express tragedy at Kozhikode. Prayers are with the bereaved families… https://t.co/Ceu5CZqn1l" createdat="1596816132000" id="1291766604183683072"></div> Both pilots perish in plane crash Air India Express has confirmed that the two pilots who were at the helm of the plane lost their lives during the crash landing, Captain Deepak Sathe and Captain Akhilesh Kumar. <div type="twitter" handle="alphonstourism" handlename="Alphons KJ" image="http://pbs.twimg.com/profile_images/1119144645500366848/Wwc-otYq_normal.jpg" favoritecount="646" retweetcount="279" status="Second tragedy of the day in Kerala : Air India Express skids off the run way at Kozhikode, front portion splits ,… https://t.co/6Lg4OfEEjR" createdat="1596813252000" id="1291754524126806016"></div> Captain Deepak Sathe was a former Air Force Pilot and flew the Airbus 310 for Air India before piloting the Air India Express on the Boeing 737. While with the 17 Squadron in Ambala, also known as the Golden Arrows, Sathe flew the MiG 21 figher aircraft. Investigation of the crash underway Prime Minister Narendra Modi expressed his condolences on the incident on Twitter. He spoke to Kerala Chief Minister Pinarayi Vijayan on phone about Karipur plane crash. Vijayan informed Modi that a team of officials including Kozhikode &amp; Malappuram District Collectors &amp; IG Ashok Yadav have arrived at the airport and are participating in the rescue operations. <div type="twitter" handle="narendramodi" handlename="Narendra Modi" image="http://pbs.twimg.com/profile_images/1249934092994375680/xX66NSZP_normal.jpg" favoritecount="8444" retweetcount="1789" status="Pained by the plane accident in Kozhikode. My thoughts are with those who lost their loved ones. May the injured re… https://t.co/egvwN91Xr1" createdat="1596818200000" id="1291775276599263233"></div> The evacuation process of the crash has been completed, according to the Kerala chief minister. "All have been transferred to hospitals in Malappuran and Kozhikode," he said. The DGCA has ordered a detailed inquiry into the matter. Two investigative teams of professionals from Air India, AAI and AIIB will leave for Kozhikodhe at 2:00 am and 5:00 am, respectively, according to Puri. Home Minister Amit Shah has also instructed the National Disaster Relief Force (NDRF) to help with the rescue operations. <div type="twitter" handle="AmitShah" handlename="Amit Shah" image="http://pbs.twimg.com/profile_images/1180491411172413440/AunoqDQW_normal.jpg" favoritecount="7893" retweetcount="1366" status="Distressed to learn about the tragic accident of Air India Express aircraft in Kozhikode, Kerala.Have instructed… https://t.co/t1AqcksQ9G" createdat="1596815135000" id="1291762421661667328"></div> Air India Express has only Boeing 737 planes in its fleet. For more information about the crash the Consulate in Dubai has issued the following helpline numbers <ul><li>056-546-3909</li><li>054-309-0572</li><li>054-309-0575</li></ul>The Ministry of Exernal Affairs can also be reached locally at the following numbers <ul><li>1800 118 797</li><li>+91 11 23012113</li><li>+91 11 23017905</li><li>+91 11 23014104</li></ul>The Kerala state government has also established helplines for people in India to reach out. <ul><li>Airport control room: 0483-2719493</li><li>Malappuram Collectorate: 0483-2736320</li><li>Kozhikode Collectorate: 0495-2376901</li><li>054-309-0572</li></ul>(With agency inputs) SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/netflix-launches-hindi-user-interface-in-india-two-years-after-amazon-prime-video/articleshow/77414233.cms">Netflix launches Hindi user interface in India — two years after Amazon Prime Video</a> <a href="https://www.businessinsider.in/science/health/news/serum-institute-of-india-to-produce-100-million-doses-of-covid-19-vaccine-for-less-than-250/articleshow/77411882.cms">Serum Institute of India to produce 100 million doses of COVID-19 vaccine for less than ₹250 a dose</a> <a href="https://www.businessinsider.in/india/news/pakistan-violates-ceasefire-for-the-fifth-consecutive-day-along-the-line-of-control/articleshow/77410596.cms">Pakistan violates ceasefire for the fifth consecutive day along the Line of Control</a>

Air India Express plane crash death stands at 18 - a deceased passenger tests positive for COVID-19, rescue officials asked to go on self-quarantine

The COVID-19 unleashed headwinds which have deeply impacted the airline and hospitality sector, now pose a major risk to the job security of over 2,00,000 workforce employed with the country's private airport operators. Accordingly, the <keyword id="8906128" type="COMPANY" weightage="20" keywordseo="association-of-private-airport">Association of Private Airport</keyword> Operators (APAO) has urged the Centre to come out with an economic relief package not only to stop downsizing but also to maintain the key infrastructure assets that the sector maintains. At present, approximately 2,40,000 people employed on airport sites, including airport operators' employees jobs are at stake. The downsizing impact will be felt across the country as New Delhi, Mumbai, Bangalore and Hyderabad are some of the major airports which are handled by private entities. Currently, no foreign or domestic passenger flight operations are allowed till the deadline of April 14. Only cargo operations are taking place there by hitting the bottom lines of these companies. Not only is the income low but these entities are also in stress for paying up a huge chunk of the revenue to the government under the various management deals of respective airports. "We have approached the government requesting to immediately provide certain relief measures for the private airport operators, which will directly alleviate the financial burden for airports due to the COVID-19 outbreak," Satyan Nayar, Secretary General, Association of Private Airport Operators told IANS. "In the absence of any relief measures it is just a matter of days and not months that the operators might go in for a massive downturn to contain costs. This sector won't be able to sustain the manpower, it does right now." According to Nayar, the industry has sought deferment of taxes and other statutory dues, and one time waiver of revenue share being paid to state run pa rtner entities (AAI). "Plus as an infrastructure provider we need urgent lending lifelines to maintain and keep ready these critical facilities," he said. "India's air traffic in 2020 might plunge heavily. This will cause defaults on our side as well as airlines and other related sectors such as hospitality and tourism. It is vital that the government quickly moves to institute relief measures." Recently, Moody's Investors Service has downgraded the rating of <keyword id="4612385" type="COMPANY" weightage="20" keywordseo="delhi-international">Delhi International</keyword> Airport Limited, the firm which manages the IGI Airport's (DIAL) to Ba3 from Ba2. "The downgrade to Ba3 reflects our expectation of a sharp decline in passenger and aircraft traffic at Delhi Airport in the coming months and the uncertainty over the timing and extent of a recovery, which coincides with increased debt issuance as the airport enters the peak stage of its Rs 98 billion expansion project," Spencer Ng, a Moody's Vice President and Senior Analyst said in a report. Furthemore, Moody's Investors Service has placed GMR Hyderabad International Airport Limited's (HIAL) Ba1 corporate family rating (CFR) on review for po ssible downgrade. Similarly, <keyword id="125045" type="COMPANY" weightage="20" keywordseo="Fitch-Ratings">Fitch Ratings</keyword> revised the outlook on DIAL's Long-Term Issuer Default Rating (IDR) and bond issue ratings to "Negative from Stable, and affirm ed the ratings at 'BB+'". Fitch Ratings also affirmed GMR Hyderabad International Airport Limited's "Long-Term Issuer Default Rating (IDR) and its bond issue ratings at 'BB+' with a Negative Outlook". On its part, Angela Gittens, Director General of Airports Council International (ACI) in a letter dated March 31st to Prime Minister Narendra Modi said that revenue forecasts show the 2020 impact of the pandemic now stands at $23.9 billion for Asia-Pacific only, impacting airports of all sizes. "Analysis of preliminary weekly passenger data from January to the middle of March at 12 major hubs in Asia-Pacific handling around 22 per cent of traffic in the region, including <keyword id="89772" type="LOCATION" weightage="20" keywordseo="Indira-Gandhi-International-Airport">Indira Gandhi International Airport</keyword>, shows the increasing traffic deterioration, culminating in an average decrease in traffic by more than 80 per cent by the second week of March compared to the same period in 2019," Gittens said. "Airports are the engine of your national economy in terms of jobs created and GDP growth... Every passenger lost by an airline is equally a passenger lost by an airport. We would urge your Authority to provide relief measures for the aviation sector to benefit all affected parties of the aviation sector and which will be strategic for the relaunch of the economy as soon as the crisis is over." SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Coronavirus risks over 2 lakh private jobs at airports; private airport body seeks intervention

<ul><li>Qatar has temporarily suspended incoming flights from 15 countries, including India.</li><li><keyword id="6356167" type="UNKNOWN" weightage="20" keywordseo="goair">GoAir</keyword> is offering free rescheduling on flights booked between March 8 to April 30 for travelling anytime up to September 30.</li><li><keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">IndiGo</keyword> has suspended flights to and from Doha till March 17 and is offering a full refund on cancelled tickets.</li></ul> The <keyword id="8595403" type="UNKNOWN" weightage="20" keywordseo="Coronavirus-outbreak">coronavirus outbreak</keyword> has everyone rearranging their travel plans. Airports are rigorously screening incoming passengers for the <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> and 12 countries have been placed on the Airport Authority of India’s (AAI) watch list. The good news is that most airlines are now allowing passengers to either cancel their tickets without any penalty or at least letting them reschedule their flight to a later date. If you’re one of the people with travel plans any time before April 30 or are looking to make tentative plans, but are unsure if you’ll be eligible for a refund if things get worse, here’s everything you need to know about airlines operating in India. <ul><li>Passengers with <a href="https://twitter.com/airindiain/status/1237022740197990402">Air India</a> with travel plans on or before April 30 can reschedule their flights — domestic and international — for free. Any new bookings made before March 31 will also be eligible for a free one-time change. However, any fee changes due to re-routing will be charged.</li></ul> <ul><li><a href="https://twitter.com/goairlinesindia/status/1236539672567762944">GoAir</a> is also offering free rescheduling. Any flight booked between March 8 to April 30 for travelling anytime up to September 30 can be changed. Travellers can make changes up to 14 days prior to the date of departure. However, if there is any difference in fares, passengers will be charged accordingly.</li></ul> <ul><li>For GoAir flights to Singapore, Bangkok and Phuket, the airline is also offering a full waiver on cancellation since all scheduled trips temporarily been suspended.</li></ul> <ul><li>Go Air has also suspended all operations to Dammam.</li></ul> <ul><li>Travellers with <a href="https://twitter.com/flyspicejet/status/1236858259920883718">SpiceJet</a> with existing or new bookings between March 12 and March 31 can reschedule their flights for free, with the exception of any changes in the flight price.</li></ul> <ul><li>Air Asia passengers with flight bookings before March 31 can also reschedule for free.</li></ul> <ul><li><a href="https://twitter.com/IndiGo6E/status/1236994540004728833">IndiGo</a> has suspended flights to and from Doha till March 17 and is offering a full refund on cancelled tickets.</li></ul> <ul><li><a href="https://twitter.com/IndiGo6E/status/1236974227451834368">IndiGo</a> is also offering to reschedule flights without any fees for customers who have travel dates between March 12 to 31.</li></ul> <ul><li>SpiceJet, <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword> (until June 30) and IndiGo have suspended flights to Shanghai and Hong Kong.</li></ul> <ul><li>Shandong Airlines and Air China have suspended all of their flights to India.</li></ul> <ul><li>Qatar has temporarily suspended incoming flights from 15 countries, including India.</li></ul> Airports in India are also on high alert with medical screening set up to monitor incoming passengers from countries that have reported Covid-19 infections — like China, Hong Kong, Italy, South Korea, Indonesia, Vietnam, Japan and Iran. So far, the Chatrapati Shivaji Airport in Mumbai has screened 127,819 passengers from 1090 flights. All international airports have set up dedicated corridors for incoming passengers from at-risk countries to minimise the spread of the infection, including the Indira Gandhi International Airport in Delhi and the Chandigarh International Airport. See also: <a href="https://www.businessinsider.in/stock-market/news/indian-investors-lose-5-lakh-as-the-coronavirus-sweeps-over-the-stock-market/articleshow/74381404.cms">Indian investors lose ₹5 lakh crore as the coronavirus sweeps over the stock market</a> <a href="https://www.businessinsider.in/india/news/coronavirus-rattles-the-supply-chain-in-indias-largest-electronics-market-hitting-mobile-accessories-more-than-new-phones/articleshow/74484914.cms">Coronavirus rattles the supply chain in India’s largest electronics market, hitting mobile accessories more than new phones</a> <a href="https://www.businessinsider.in/tech/news/coronavirus-panic-exploited-by-hackers-to-infect-computers-with-malware/articleshow/73807243.cms">Hackers are using the coronavirus panic to trick victims into downloading malware</a>

Track how the coronavirus outbreak is affecting your travel plans and flights

<ul><li>Unique ID to help identify passengers and make boarding process for domestic flights simpler. </li><li>The unique ID will be biometric-based. </li><li>Vijayawada and Varanasi among the three airports where <keyword id="6549368" type="UNKNOWN" weightage="20" keywordseo="paperless-boarding">paperless boarding</keyword> will be tested. </li></ul>With the Indian Railways increasing the fare for air-conditioned coaches, many people who preferred trains to flights have now started travelling by air. Thanks to the competition between different airlines, flight ticket prices have become affordable and in many cases, even cheaper than what train journeys would cost. Why waste hours on a train when you can pay lesser and get to your destination sooner? The process of boarding and deboarding a plane, however, remains tiresome. With many ditching trains for flights now, airports have become as crowded as railway stations. Naturally, the queues for boarding passes and for security checks have become longer. But there’s some good news! The government might soon implement a new feature -- a biometric-based unique ID -- that will make the boarding process for domestic flyers smooth. A unique identification number, similar to the Aadhaar, will soon let commuters dodge the boarding processes for domestic flights. A technical team from the Airport Authority of India (AAI) along with four private metro airports where the new scheme is set to be tested, finalized a completely paperless boarding process for domestic flyers. The team has also finalized and proposed the format for biometric-based identification called “Digi-Yatra” (DY). Under the new process, each commuter will be allocated a unique ID from the aviation ministry portal. This unique ID issued will also be linked to the person’s biometrics. Passengers wishing to use the new service will then have to provide the booking site with this ID. Getting the new ID will be optional for passengers. The existing process will continue to remain in place. How do you register for <keyword id="6549964" type="UNKNOWN" weightage="20" keywordseo="digi-yatra">digi-yatra</keyword> ID? A Digi-Yatra link will be made available on the Air Sewa-II portal soon. Passengers can register there. The verification of the individuals will be done using government-issued ID proof like Aadhaar, driving licence etc.. After registration, whenever the registered person visits the airport the next time, he/she needs to carry the given ID proof and a photograph with them. Iris scans and the details will be captured at the airport. Once that’s done, you can say bye to the long queues for boarding passes. After biometric authentication of the traveller, the E-gate will open. The passenger will be able to avail all the services like check-in, security check and boarding using QR codes and biometrics. Airport websites will also be updated to accommodate the new feature after the proposal is approved by the ministry. The government has selected three airports to test the new scheme. “We have selected three airports, including Varanasi and Vijayawada, for rolling out DY,” <a href="https://timesofindia.indiatimes.com/business/india-business/unique-id-to-enable-paperless-boarding-for-domestic-flyers/articleshow/64264988.cms">the AAI chief said.</a>

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