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Tata Group-owned <keyword id="2573" type="General" weightage="20" keywordseo="air-india" source="Orion">Air India</keyword>, which placed a 250-aircraft order with <keyword id="6356166" type="General" weightage="20" keywordseo="airbus" source="Orion">Airbus</keyword> earlier this year, has rejigged the order, which will now have more number of A321neo <keyword id="6385716" type="General" weightage="20" keywordseo="aircraft" source="Orion">aircraft</keyword>, according to sources. As part of the 250 aircraft order with Airbus, the airline was to acquire 210 narrowbody A320 family planes, comprising 140 A320neo and 70 A321neo and remaining 40 widebody A350s, consisting of six A350-900 and 34 A350-1000s. Air India has tweaked the order with Airbus and will now acquire 140 A321neo and 70 A320neo, while the order for 40 A350s has also been rejigged, the source said. As against the earlier order of six A350-900 and 34 A350-1000s, Air India has changed it to 20 A350-900s and 20 A350-1000s, the source added. In response to a PTI query, Air India spokesperson said, "We regularly review our orderbook based on business requirements and opportunities, and exercise contractual flexibilities as appropriate". When reached out for comments, Airbus said, "It is up to our customers to disclose their strategy." Tata Group took control of loss-making Air India in January 2022. Earlier this year, Air India placed orders for 470 aircraft from Airbus and <keyword id="6357957" type="General" weightage="20" keywordseo="boeing" source="Orion">Boeing</keyword> at USD 70 billion (based on published list prices). Its Boeing aircraft order for 220 aircraft comprises 190 Boeing 737MAX narrowbody planes, 20 Boeing 787 Dreamliners and 10 Boeing 777X.

Air India rejigs 250-aircraft Airbus order

<ul class="summary-list"><li>A Korean Air flight bound for Taiwan had to turn back after a pressurization fault was detected.</li><li>Flight data shows the plane dropped nearly 25,000 feet in five minutes shortly after takeoff.</li></ul>A Korean Air flight bound for Taiwan had to turn back and make an emergency landing after detecting a fault with the aircraft's pressurization system.The Boeing 737 Max 8 plane departed from Incheon International Airport at 4:45 p.m. local time on Saturday, <a target="_blank" href="https://en.yna.co.kr/view/AEN20240622002800315">Yonhap News Agency reported.</a>A pressurization fault was detected while the plane was flying over South Korea's southern Jeju Island, per Yonhap.Roughly 30 minutes after taking off, the plane started descending sharply, dropping nearly 25,000 feet in five minutes, according to data from <a target="_blank" href="https://www.flightradar24.com/data/flights/ke189#35cbd925">FlightRadar24</a>.This is a common procedure when pressurization issues are detected to avoid further injury to passengers and crew from the lack of oxygen and other risks at usual cruising altitudes.<a target="_blank" href="https://www.tiktok.com/@garygaryocp/video/7383660626909908225">Videos on social media</a> show the plane shaking and oxygen masks hanging from the ceiling. Yonhap News Agency, citing information from the Ministry of Land, Infrastructure and Transport, reported that 15 passengers were hyperventilating and suffered from eardrum pain when the flight descended."We are fully cooperating with all relevant authorities to investigate the circumstances surrounding the incident," a Korean Air spokesperson told Business Insider.The spokesperson said 17 passengers were evaluated at medical facilities and were discharged without severe injuries.The aircraft is just under five years old and was delivered to Korean Air in July 2022, per <a target="_blank" href="https://www.planespotters.net/airframe/boeing-737-max-8-hl8352-korean-air/3xqdq4?refresh=1">Plane Spotters Net.</a>"Our commitment to the safety and well-being of our passengers and crew remains unchanged. We apologize to all affected by this incident," the spokesperson said.Passengers on the affected plane reached Taichung International Airport safely on Sunday via a different flight, the <a target="_blank" href="https://www.taipeitimes.com/News/taiwan/archives/2024/06/24/2003819818">Taipei Times reported.</a><h2 id="48c5b2e6-3010-407e-8a6a-bd2dd19e6dec">A week of plane chaos</h2>The Korean Air news comes after a week in which multiple planes were forced to make emergency landings for various reasons.On Thursday, a <a target="_blank" href="https://www.businessinsider.com/malaysia-airlines-boeing-flight-with-engine-on-fire-2024-6">Malaysia Airlines plane</a> was forced to turn around and head back to Hyderabad, India. A video showed its engine on fire, with sparks flying behind it.Also, on Thursday, a <a target="_blank" href="https://www.businessinsider.com/united-airlines-airbus-turned-back-engine-lining-fell-off-2024-6">United Airlines flight from Connecticut to Colorado</a> was cut short after a piece of its engine cover fell off during takeoff.Boeing planes have also been <a target="_blank" href="https://www.businessinsider.com/why-boeing-737-max-planes-have-issues-2024-1">plagued</a> by issues in recent months. In January, a door plug came off a Boeing 737 Max 9 <a target="_blank" href="https://www.businessinsider.com/alaska-airlines-passengers-hit-by-debris-faulty-oxygen-masks-lawsuit-2024-1">Alaska Airlines jet</a> at 16,000 feet, resulting in a gaping hole in the plane.Several Boeing whistleblowers have since come forward with <a target="_blank" href="https://www.businessinsider.com/boeing-whistleblower-faulty-plane-parts-may-be-on-new-aircraft-2024-6">bombshell testimonies</a> alleging that the company cut corners with quality control.There have also been other instances of late where commercial planes encountered sudden drops in cruising altitude that resulted in injuries.In May, a Singapore Airlines Boeing 777-300ER airplane encountered <a target="_blank" href="https://www.businessinsider.com/honeymooning-couple-endured-60-seconds-of-hell-aboard-sq321-flight-2024-5">turbulence so severe</a> that the plane <a target="_blank" rel="" href="https://www.businessinsider.com/singapore-airlines-flight-turbulence-death-investigation-report-details-2024-5">dropped 178 feet in four seconds</a>.The flight from London to Singapore was cruising at an altitude of 37,000 feet over Myanmar when it was thrust up and down rapidly for 62 seconds, leading to one death and over 100 injuries.

Inside the Korean Air Boeing plane that descended 25,000 feet after a pressurization fault

In a major development, the <keyword id="64630" type="General" weightage="20" keywordseo="Indian-Commercial-Pilots-Association" source="Orion">Indian Commercial Pilots Association</keyword> (ICPA) and the <keyword id="64606" type="General" weightage="20" keywordseo="Indian-Pilots-Guild" source="Orion">Indian Pilots Guild</keyword> (IPG) of <keyword id="2573" type="General" weightage="20" keywordseo="air-india" source="Orion">Air India</keyword> have rejected the new pay structure proposed by the airline. The primary bone of contention is the reduction in flying allowance from 70 hours to 40 hours every month under the new structure, which the pilots believe is unfair. The two unions have warned of possible 'industrial unrest' if the management goes ahead with the new terms without their consent. While Air India has stated that it will "continue to engage with the remainder of its staff", the airline has taken a tough stance on the issue, saying that there are "no recognised unions in Air India". This is the first wage revision offered by the Tata group-owned Air India since its takeover last year, and it will affect all 3,000 pilots across its four airlines - Air India, <keyword id="6378232" type="General" weightage="20" keywordseo="Air-India-Express" source="Orion">Air India Express</keyword>, <keyword id="1625599" type="General" weightage="20" keywordseo="Air-Asia-India" source="Orion">Air Asia India</keyword>, and <keyword id="2467342" type="General" weightage="20" keywordseo="Vistara" source="Orion">Vistara</keyword>. The pilots' unions have instructed their members to reject the new employment conditions and wage structure offered by the management. An agreement has been put in place for the employees to sign by April 25, but the two unions have stated that they will contest the terms and conditions, with their pilots refusing to sign the revised employment and compensation terms. The two unions have warned of potential industrial unrest if the company takes any coercive or victimising action against their members. In a joint statement, the unions stated that the company reiterated that "all previous understandings, representations and agreements of whatever nature that have been entered into with us are null &amp; void and that the company further has the right to change any terms and conditions". "The term cost to the company for an assumed flying of 70 hrs is deliberately misleading and creates an impression of a generous compensation and accompanying benefits package. The actual guaranteed money being offered is only for 40 hrs. Effectively, any time a pilot is on leave or is unavailable due to recurrent training requirements or document/licence renewals, not to mention any sick leave, there is an automatic pay cut involved," the statement read. "The so-called rationalisations of allowances is not in line with any industry practices as projected by HR. Further, blanket consent is sought for any leave or insurance policy that the company may come up with &amp; which is subject to amendment or outright withdrawal. "Suffice it to say that this is not an all-inclusive list but merely a selection of some of the most outlandish and labour-hostile provisions that we have come across to date. This is dishonourable and how the management is trying to force it down the employees' throats is outright unethical," it added. "Nor has the blatant attack on our rights as workmen to bargain collectively or seek legal redressal for any injustice or victimisation gone unnoticed. Where is the company requirement all of a sudden to forcibly promote almost all the permanent workmen of the union to the so-called Senior Commander management cadre? It is clear from all this that there is a concerted effort to gut the unions and isolate pilots into individual boxes where they can be exploited and victimised at will by the HR department," the statement said. Meanwhile, Air India's spokesperson has defended the new compensation structure, which includes parity among different groups, recognition of managerial and supervisory roles for experienced pilots, and individual contracts sent to pilots and cabin crew for necessary paperwork. "The managerial and supervisory role played by the experienced pilots is also being recognised in the form of designating them as Senior Commander as also offering them a special monthly allowance. The contracts reflecting these enhancements were individually sent to the pilots and cabin crew for necessary paperwork," said the spokesperson. The spokesperson also claimed that a large number of pilots and cabin crew have already accepted the new contracts, and the salary improvements and advancement opportunities they enable. "The airline will continue to engage with the remainder of its staff through this process as currently there is no recognised union in Air India," the spokesperson said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/rils-q4-to-be-driven-by-sustained-momentum-in-retail-business-o2c-to-see-modest-growth/articleshow/99629278.cms">RIL’s Q4 to be driven by sustained momentum in retail business, O2C to see modest growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

Air India pilots' unions reject proposed pay structure, warn of industrial unrest

Low cost carrier <keyword id="6358032" type="General" weightage="100" keywordseo="spicejet" source="Orion">SpiceJet</keyword> is said to be in active discussion with a <keyword id="859863" type="General" weightage="50" keywordseo="middle-eastern" source="Orion">Middle Eastern</keyword> carrier for a possible stake sale. SpiceJet promoter <keyword id="6357826" type="General" weightage="50" keywordseo="ajay-singh" source="Orion">Ajay Singh</keyword> holds a stake of around 60 per cent in the budget carrier. Sources said a big Middle Eastern airline has expressed interest to pick a 24 per cent stake and a board seat in SpiceJet. A big Indian business conglomerate has also approached Singh for a stake in the airline. Reacting to the development, a <keyword id="1002649" type="General" weightage="50" keywordseo="spicejet-spokesperson" source="Orion">SpiceJet Spokesperson</keyword> said, "The company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations." Earlier, on Tuesday, SpiceJet said that it entered into a full and final settlement with the <keyword id="54875" type="General" weightage="50" keywordseo="airports-authority-of-india" source="Orion">Airports Authority of India</keyword> (<keyword id="47439" type="General" weightage="50" keywordseo="aai" source="Orion">AAI</keyword>) and has cleared all outstanding principal dues of the airport operator. With this, SpiceJet will no longer remain on 'cash and carry' at AAI run airports across the country and will revert to advance payment mechanism for daily flight operations. SpiceJet's ability to clear the pending dues reflects the airline's improved cash flow in recent times. SpiceJet's domestic network covers the length and breadth of the country with the airline operating to 51 domestic destinations. <keyword id="16140" type="General" weightage="50" keywordseo="pioneer" source="Orion">Pioneer</keyword> of the regional connectivity scheme, SpiceJet is the country's largest regional player helping connect the remotest parts of the country by air. The airline's focus on providing direct flight connectivity to regional hubs not only ensures better connectivity, it also has a cascading effect on tourism and economic activity in the region. SpiceJet has added multiple <keyword id="6366656" type="General" weightage="50" keywordseo="udan" source="Orion">UDAN</keyword> destinations to the country's aviation map including Pakyong, Jharsuguda, Kandla, Darbhanga, Kanpur, Ajmer (<keyword id="194159" type="General" weightage="50" keywordseo="kishangarh" source="Orion">Kishangarh</keyword>), among others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/sun-pharma-chairperson-israel-makov-to-retire-on-august-29/articleshow/93314360.cms">Sun Pharma Chairperson Israel Makov to retire on August 29</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/surgeons-use-virtual-reality-to-separate-twins-with-conjoined-heads-in-a-27-hour-long-surgery/articleshow/93314424.cms">Surgeons use virtual reality to separate twins with conjoined heads in a 27-hour-long surgery</a>

SpiceJet in active discussion with Middle Eastern carrier for a possible stake sale

<ul class="summary-list"><li>A man urinated and defecated on the floor of a plane flying from Mumbai to Delhi, The Times of India reported.</li><li>A spokesperson for Air India confirmed to Insider that he "behaved in a repulsive manner."</li></ul>A man was arrested after he behaved in a "repulsive manner" on board an Air India flight, the airline confirmed to Insider, after reports he pooped on the plane's floor.Saturday's flight was going from Mumbai to Delhi when the passenger urinated and defecated on the floor of the aircraft, according to both <a href="https://timesofindia.indiatimes.com/india/man-defecates-on-air-india-flight-arrested/articleshow/101291179.cms" target="_blank" rel="noopener">The Times of India</a> and <a href="https://www.independent.co.uk/travel/news-and-advice/air-india-man-arrest-urination-b2364876.html" target="_blank" rel="noopener">The Independent</a>. A spokesperson for Air India confirmed to Insider that a passenger "behaved in a repulsive manner, causing discomfort to the co-passengers." The airline did not confirm any specifics of the incident.The cabin crew spotted the man and gave him a warning before the captain was also informed about the incident, according to The Times of India. He was then kept away from other passengers, an Air India spokesperson told Insider."The situation agitated a number of other passengers on board the aircraft," said the official complaint seen by The Times of India.When the plane arrived in Delhi, the man was taken away by airline security and arrested at a local police station, where the case noted he was drunk, the Times of India reported."On the complaint of the flight captain, Delhi Police registered a case at IGI police station and arrested the accused passenger," a senior Delhi Police official told <a href="https://aninews.in/news/national/general-news/passenger-arrested-for-defecating-and-urinating-on-mumbai-delhi-air-india-flight20230626205005/" target="_blank" rel="noopener">Asian News International</a>. "We produced him before a court which granted him bail. Further investigation is underway."An Air India spokesperson told Insider: "In doing their best to manage the situation in the circumstances, the crew immediately secluded the passenger for the rest of the flight and issued a warning. The passenger was handed over to the security personnel upon landing in Delhi.""Air India follows a zero tolerance policy for such unruly and unacceptable behaviour," they added. "We are extending all cooperation to hte ongoing investigations."In January, Air India was fined $37,000 by the country's aviation regulator and suspended a pilot's license for three months after a passenger urinated on another female traveler, <a href="https://www.bloomberg.com/news/articles/2023-01-20/air-india-fined-37-000-after-passenger-in-flight-urination-act" target="_blank" rel="noopener">Bloomberg</a> reported.

An Air India passenger behaved in a 'repulsive manner' and pooped on the plane's floor mid-flight, reports say

<ul class="summary-list"><li>India and China's rivalry will likely intensify in the Indian prime minister's third term in office.</li><li>Both countries have self-reliance as a policy priority — which means they will both go big into manufacturing.</li></ul><a target="_blank" href="https://www.businessinsider.com/indian-election-results-shocking-blow-narendra-modi-2024-6">Indian Prime Minister Narendra Modi</a> this week secured a historic third term in office — and it's likely to intensify India's economic rivalry with China.As David Lubin, a senior research fellow at London-based think tank <a target="_blank" href="https://www.chathamhouse.org/2024/06/achieve-developed-india-modis-new-government-will-prioritize-manufacturing-sector-better-or">Chatham House,</a> wrote on Thursday, the rivalry is likely to heat up because Modi and Chinese leader Xi Jinping have the same obsession for their country: self-reliance.Modi has a vision for <a target="_blank" href="https://economictimes.indiatimes.com/news/economy/policy/mission-2047-india-charts-road-to-a-developed-economy/articleshow/108953808.cms?from=mdr">Viksit Bharat, or "Developed India,"</a> that sets a pathway for the South Asian giant to become a developed economy by 2047.Meanwhile, Xi's vision for China is <a target="_blank" href="https://www.bloomberg.com/news/articles/2022-10-26/xi-s-vow-of-world-dominance-by-2049-sends-chill-through-markets">global dominance by 2049.</a>"Competition for economic leadership in Asia is in the air," wrote Lubin.<h2 id="a2dd3c88-d3f0-4b03-a2a9-5ef7ac76ad48">Both India and China will be focused on manufacturing</h2>To reach its goal, Modi's India will likely be going big on manufacturing."The pursuit of national greatness is, essentially, a relative game, and for India, the comparison that matters is with China," wrote Lubin.Since self-reliance is a policy priority for both India and China, "an obsession with manufacturing is likely to accompany it," Lubin wrote.<a target="_blank" href="https://www.imf.org/external/datamapper/profile/IND">India's GDP</a> of $3.9 trillion is far behind <a target="_blank" href="https://www.imf.org/external/datamapper/profile/CHN">China's $18.5 trillion GDP</a>. And China has served as the world's factory floor for the last four decades — but the tides are changing.<a target="_blank" href="https://www.businessinsider.com/china-trade-war-covid-companies-moving-supply-chains-2022-12">Companies are diversifying their operations </a>outside China to avoid over-relying on one country, and <a target="_blank" href="https://www.businessinsider.com/china-india-supply-chain-covid-sanctions-manufacturers-relocating-tariffs-options-2022-12">India is aiming to be the new China.</a>Given that India is now the world's most populous nation — with <a target="_blank" rel=" nofollow" href="https://www.spglobal.com/en/research-insights/special-reports/look-forward/india-s-demographic-dividend-the-key-to-unlocking-its-global-ambitions">65% of its population</a> under the age of 35 — there are huge opportunities for the South Asian nation.However, with Modi's party losing its parliamentary majority, this means it will be <a target="_blank" href="https://www.businessinsider.com/india-election-results-complicates-plans-unseat-china-modi-bjp-2024-6">much harder for his adminstration</a> to push through much-needed land and labor reforms to supercharge growth.In addition, as Raghuram Rajan, a former head of the Central Bank of India, told <a target="_blank" rel=" nofollow" href="https://www.npr.org/sections/planet-money/2024/06/04/g-s1-2226/india-election-democracy-china-economy-manufacturing">NPR's "Planet Money",</a> India is wading into a crowded space with <a target="_blank" href="https://www.businessinsider.com/china-trade-war-covid-companies-moving-supply-chains-2022-12">other emerging nations</a> such as Vietnam, Bangladesh, and Malaysia with their skin in the game.Rajan said India would do better to focus on the service industry, since the country already has a large English-speaking population.But Delhi is throwing big money to catch up with China, including over $20 billion worth of <a target="_blank" href="https://www.investindia.gov.in/production-linked-incentives-schemes-india">incentives and subsidies</a> to encourage output in 14 key sectors including electronics, automobiles, and EV batteries.It's also provided <a target="_blank" href="https://www.reuters.com/world/india/india-renews-process-10-bln-semiconductor-incentive-scheme-bloomberg-news-2023-05-10/">another $10 billion</a> for the semiconductor chip industry — a hot strategic sector that Taiwan has an <a target="_blank" href="https://www.businessinsider.com/asml-tsmc-semiconductor-chip-equipment-kill-switch-china-invade-taiwan-2024-5">outsized presence in.</a>India has been trying to woo <a target="_blank" href="https://www.bloomberg.com/news/articles/2022-04-26/india-woos-intel-and-tsmc-to-set-up-local-semiconductor-plants">Taiwan's chip plants</a> to invest in the country and has had <a target="_blank" href="https://www.reuters.com/technology/india-approves-three-chipmaking-units-worth-152-bln-2024-02-29/">some success.</a><h2 id="421605ca-e5e5-4946-afcf-cf011993a870">India's rocky relationship with China</h2>Given India's ongoing rivalry with China and the Modi government's eagerness to attract Taiwan investments, the Delhi-Beijing relationship is also off to a rocky start as the Indian leader kicks off his new term.On Tuesday, <a target="_blank" href="https://www.businessinsider.com/modi-straight-from-reelection-anger-china-taiwan-india-2024-6">Modi angered China</a> — which claims Taiwan as its own territory — when he accepted Taiwanese President William Lai's congratulations following India's elections."China opposes all forms of official interactions between the Taiwan authorities and countries having diplomatic relations with China," Mao Ning, the spokesperson for <a target="_blank" href="https://www.fmprc.gov.cn/eng/xwfw_665399/s2510_665401/202406/t20240606_11405886.html">China's foreign ministry,</a> said at a scheduled press conference on Thursday.India's foreign policy toward China is unlikely to change following Modi's re-election, Ivan Lidarev, an Asian security scholar at King's College London, told <a target="_blank" href="https://www.channelnewsasia.com/watch/what-does-modis-weakened-mandate-mean-indias-rivalry-china-4391006">Channel NewsAsia.</a>"India has pursued a very active foreign policy of kind of getting closer with the West and counterbalancing China for many years," he told the network. "There is a very strong consensus within India about this."China, meanwhile, will try to limit India's influence on the global stage, he said."I think India has strived to position itself as a leader of the global south, and of course, China wants this position," added Lidarev. "So we think that this competition is going to increase and I think that Beijing will do a lot to limit any Indian attempts to be seen as the natural leader of the world."

India's race to overtake China will intensify after Modi's reelection because they have the same obsession, analyst says

Bangalore Airport cargo witnessed a substantial increase in rose shipments in the run-up to <keyword id="6426726" type="General" weightage="80" keywordseo="valentine" source="Orion">Valentine</keyword>'s Day this year. The season of roses at BLR Airport brought cheer once again with a 14 per cent increase in rose shipments processed compared to last year. As per the airport spokesperson, Valentine's week kept <keyword id="16541242" type="General" weightage="80" keywordseo="blr-cargo" source="Orion">BLR Cargo</keyword> busy as 17.4 million rose stems (589,296 kg) were processed. Top international destinations to receive these Indian roses were Kuala Lumpur, <keyword id="6356662" type="General" weightage="20" keywordseo="singapore" source="Orion">Singapore</keyword>, Kuwait, Manila, Auckland, New York, Lebanon, Maldives, Jordan and Dubai. BLR Cargo sent roses to a total of 15 global destinations. On the domestic front, 6.6 million rose stems (178,200 kg) were processed which is a 31 per cent increase compared to last year. Top Indian cities to receive the Valentine's week consignment were Delhi, Kolkata, Mumbai, <keyword id="35727" type="General" weightage="50" keywordseo="guwahati" source="Orion">Guwahati</keyword>, <keyword id="16541244" type="General" weightage="20" keywordseo="bagdogra-ahmedabad" source="Orion">Bagdogra, Ahmedabad,</keyword> Kochi, Darbhanga, Chandigarh and Patna which are among 34 domestic destinations, said the spokesperson. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty-rise-for-2nd-day-on-gains-in-oil-it-banking-shares/articleshow/97950784.cms">Sensex, Nifty rise for 2nd day on gains in oil, IT &amp; banking shares</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/infra-housing-projects-to-keep-indias-cement-demand-strong-moodys/articleshow/97946657.cms">Infra &amp; housing projects to keep India’s cement demand strong: Moody’s</a>

Love is in the air, rose shipments at Bangalore airport went up 14% on V-day

The <keyword id="6374106" type="General" weightage="50" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (<keyword id="6358274" type="General" weightage="80" keywordseo="mea" source="Orion">MEA</keyword>) on Thursday said the companies that operate in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> need to follow the law of the land. The remark was made by an MEA spokesperson in connection with the ongoing investigation related to Vivo and other Chinese firms. "Companies that operate here need to follow the law of the land. Our legal authorities are taking steps as per law of the land. I don't see the case to make comments as such on it," MEA spokesperson <keyword id="10953867" type="General" weightage="80" keywordseo="arindam-bagchi" source="Orion">Arindam Bagchi</keyword> in a media briefing. Meanwhile, a day after it was report<keyword id="12163" type="General" weightage="20" keywordseo="ED" source="Orion">ed</keyword> that two top executives of its associated company likely fled India, following raids, the ED on Thursday said that Chinese smartphone company Vivo was involved in huge 'hawala' transactions. It said that out of the total sale proceeds of Rs 1,25,185 crore, <keyword id="2829414" type="General" weightage="80" keywordseo="vivo-india" source="Orion">Vivo India</keyword> remitted Rs 62,476 crore -- almost 50 per cent of the turnover out of India, mainly to China. According to the ED, all due procedures as per law were followed during the said operations at each premises but employees of Vivo India, including some Chinese nationals did not cooperate with the search proceedings and had tried to abscond, remove and hide digital devices which were retrieved by the search teams. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rakesh-jhunjhunwala-backed-aksa-air-to-start-operations-this-month/articleshow/92738021.cms">Rakesh Jhunjhunwala-backed Aksa Air to start operations this month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/voice-tech-is-evolving-rapidly-here-are-the-top-trends-in-voice-tech-to-watch-for/articleshow/92727686.cms">Voice tech is evolving rapidly. Here are the top trends in voice tech to watch for</a>

Vivo needs to follow the law of the land, says external affairs ministry

<keyword id="46894" type="General" weightage="20" keywordseo="Tata-Sons" source="Orion">Tata Sons</keyword> has submitted a financial bid for <keyword id="2573" type="General" weightage="100" keywordseo="air-india" source="Orion">Air India</keyword>, among other bidders. "Tatas have submitted a financial bid for Air India," a Tata Sons spokesperson said. Taking to Twitter, DIPAM Secretary, Tuhin Kanta Pandey said that the disinvestment process now moves to the concluding stage. "Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," he posted. Though Tatas have confirmed their particiupation in the financial bid, sources said that the promoter of domestic carrier SpiceJet, <keyword id="6357826" type="General" weightage="20" keywordseo="Ajay-Singh" source="Orion">Ajay Singh</keyword> may also have placed the bids for the debt-ridden carrier. The Tatas bid was much-anticipated as its name of had been doing the rounds for some time now. The government has off late taken several steps to fast-track the much-delayed privatisation of the national carrier. Recently, the government decided to waive taxes on the transfer of assets from the national carrier to Air India Assets Holding Ltd, a special purpose vehicle (SPV). "The <keyword id="6357307" type="General" weightage="20" keywordseo="central-government" source="Orion">Central Government</keyword> hereby specifies that no deduction of tax shall be made under section 194-IA of the said Act on any payment made to the <keyword id="334559" type="General" weightage="20" keywordseo="air-india-ltd" source="Orion">Air India Ltd</keyword> for transfer of immovable property to Air India Assets Holding Ltd under a plan approved by the Central Government," said a notification. Further, the CBDT also allowed new owners of erstwhile public sector companies to carry forward losses and set these off against future profits, in a bid to raise more interest for the proposed privatisation processes. During the Budget speech for FY22, Finance Minister Nirmala Sitharaman had said that all the proposed privatisation process would be completed by the end of the fiscal, including the much-delayed strategic disinvestment of Air India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-mining-isnt-just-consuming-energy-its-also-generating-272-grams-of-e-waste-with-every-transaction/articleshow/86228818.cms">Bitcoin mining isn't just consuming energy, it's also generating 272 grams of e-waste with every transaction</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-ipo-rewarded-investors-with-12288-profit-on-the-second-day-of-listing/articleshow/86228819.cms">Investors who had put money in this IPO made over ₹12,000 profit in 2 days</a>

You Searched For "spokesperson of air india" and got 9 results

Air India rejigs 250-aircraft Airbus order

PTI

Inside the Korean Air Boeing plane that descended 25,000 feet after a pressurization fault

Aditi Bharade

Air India pilots' unions reject proposed pay structure, warn of industrial unrest

IANS

SpiceJet in active discussion with Middle Eastern carrier for a possible stake sale

IANS

An Air India passenger behaved in a 'repulsive manner' and pooped on the plane's floor mid-flight, reports say

Pete Syme

India's race to overtake China will intensify after Modi's reelection because they have the same obsession, analyst says

Huileng Tan

Love is in the air, rose shipments at Bangalore airport went up 14% on V-day

IANS

Vivo needs to follow the law of the land, says external affairs ministry

IANS

Tata Sons submits financial bid for Air India, SpiceJet's Ajay Singh still in the race

IANS

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