Exciting News! the 680,000th person read this Magazine on 4 October 2015. An innovative new way of promoting tourism in the Hunter Valley region of New South Wales in Australia, selected Australian cities, and featured overseas countries. Featuring MICE and Corporate Travel news, destinations and events. On the right hand side of the page you will find an index of articles by date, by world location, and by popularity. Happy reading!
Monday, 7 May 2012
Air India is Advancing
Air India is advancing after the Indian government approved its financial restructuring plan and agreed to inject fresh funds into its operations.
The US$600 million equity infusion that will take place over the next eight years will help the cash-strapped national carrier recast its debt servicing over a longer stretch. The airline currently forks out US$48 million in annual interest to banks.
Air India recorded a 7.9 per cent increase in passenger numbers and 46 per cent revenue growth in March, compared to the same month last year. The carrier performed particularly well on international sectors, recording almost 33 per cent year-on-year growth in revenue, which was catalysed by an eight per cent hike in load factor and higher yield of 28 per cent.
In the first quarter of 2012, the carrier’s yield on international routes increased by 18 per cent over the same period last year. Revenue from international operations for the quarter grew by US$9 million, while domestic business jumped by US$8 million.
Anil Punjabi, chairman-east, Travel Agents Federation of India, said: “It will be good for the trade if Air India revives and flies to many new sectors. This will also rationalise prices as demand is growing constantly.”