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Air travel becomes costlier as govt raises caps on domestic airfares in India

News Bureau — Fri, 13 Aug 2021 08:12:21 +0000

New Delhi: With the Civil Aviation Ministry has raised the lower as well as upper caps on fares by 9.83, the domestic air travel is going to become costlier in the country.

According to an official order, the officials have imposed lower and upper limits on airfares based on flight duration when services were resumed on May 25, 2020, after a two-month lockdown due to coronavirus.

The lower caps were imposed to help the airlines that have been struggling financially due to coronavirus-related travel restrictions. The upper caps were imposed so that passengers are not charged huge amounts when the demand for seats is high, a PTI report said adding that on August 12, 2021, the ministry increased the lower limit for flights under 40 minutes of duration from Rs 2,600 to Rs 2,900 – an increase of 11.53 per cent. The upper cap for flights under 40 minutes of duration was increased by 12.82 per cent to Rs 8,800.

Similarly, flights with duration between 40-60 minutes have a lower limit of Rs 3,700 instead of Rs 3,300 now, the order said. The upper cap on these flights was increased by 12.24 per cent to Rs 11,000 on Thursday, the report added.

Similarly, the flights with duration between 60-90 minutes have a lower limit of Rs 4,500 – an increase of 12.5 per cent. The upper cap on these flights was increased by 12.82 per cent to Rs 13,200 on Thursday.

Now, domestic flights of duration between 90-120, 120-150, 150-180 and 180-210 minutes have lower caps of Rs Rs 5,300, Rs 6,700, Rs 8,300 and Rs 9,800, respectively, as per the ministry’s order.

Till date, domestic flights of duration between 90-120, 120-150, 150-180 and 180-210 minutes had the lower limits of Rs 4,700, Rs 6,100, Rs 7,400 and Rs 8,700, respectively. The lower cap on flights between 120-150 minutes duration was increased by 9.83 per cent to Rs 6,700, as per the new order.

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Canada extends ban on arriving passenger flights from India till September 21

News Bureau — Tue, 10 Aug 2021 06:03:44 +0000

Jalandhar: Canada has extended its ban on arriving passenger flights from India to September 21 citing the risks posed by Covid-19, the federal transport ministry said in a statement on Monday.
The ban was first imposed on April 22 and has already been rolled over several times. The measure does not apply to cargo flights or medical transfers.
“The Government of Canada is prioritizing the health and safety of all people in Canada by continuing to take a risk-based and measured approach to re-opening the border. Canada’s phased approach to easing border measures is informed by the continued monitoring of available data and scientific evidence, including the vaccination rate of Canadians and our improving epidemiological situation,” the government posted the statement on its official website.
The statement further reads that based on the latest public health advice from the Public Health Agency of Canada, Transport Canada is extending the Notice to Airmen (NOTAM) that restricts all direct commercial and private passenger flights to Canada from India until September 21, 2021, at 23:59 EDT. All direct commercial and private passenger flights to Canada from India are subject to the NOTAM. Cargo-only operations, medical transfers or military flights are not included.
Transport Canada is also extending the requirement related to third-country pre-departure COVID-19 molecular tests for travellers to Canada from India via an indirect route. This means that passengers who depart India to Canada via an indirect route will continue to be required to obtain a valid COVID-19 pre-departure test from a third country – other than India – before continuing their journey to Canada, government statement.
The Government of Canada continues to closely monitor the epidemiological situation, and will be working closely with the Government of India and aviation operators to ensure appropriate procedures are put in place to enable a safe return of direct flights as soon as conditions permit, it added.
The Government of Canada advised its citizens to avoid non-essential travel outside of Canada – international travel increases the risk of exposure to COVID-19 and its variants, as well as of spreading it to others.

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Samsonite to buy Tumi for $1.8 billion as it expands premium luggage offerings

admin — Fri, 04 Mar 2016 08:06:05 +0000

By Donny Kwok

HONG KONG (Reuters) – Samsonite International S.A. <1910.HK> said on Friday it would buy Tumi Holdings Inc <TUMI.N> for $26.75 per share in an all-cash transaction valuing Tumi at $1.8 billion, as the world’s biggest luggage group expands in the luxury market.

Hong Kong-listed Samsonite said it would finance the deal with bank loans and that the transaction was expected to close in the second half of the year subject to regulatory and shareholder approvals.

Investors applauded the deal, sending Samsonite shares up to as much as HK$25.2, their highest since October. The stock trimmed gains but was up 2.3 percent by midday, outpacing a 0.6 percent gain in the benchmark Hang Seng Index <.HSI>.

“It is a perfect match in many aspects such as retail channels and regional mix, category mix and even price points,” said Boyoung Kim, an analyst at BNP Paribas.

“It can bring huge synergies in the long term,” she added.

The deal price represents a 38 percent premium to New Jersey-based Tumi’s volume weighted average price of $19.34 for the five days up to and including March 2, the statement said.

Tumi’s net sales increased 4 percent year-on-year in 2015 to $548 million, of which North America accounted for 68 percent. Its net income rose 8.6 percent last year to $63 million.

Samsonite Chief Executive Officer Ramesh Tainwala said the company planned to expand Tumi’s presence in Asia and Europe, while strengthening its business in North America.

Morgan Stanley Asia Ltd acted as financial advisor to Samsonite, and Goldman Sachs & Co. acted as financial advisor to Tumi.

Apart from its flagship brand, Samsonite sells Lipault travel bags, high-end Hartmann suitcases, American Tourister luggage, and High Sierra and Gregory backpacks.

The company has been on an acquisition spree, buying last February Rolling Luggage, which operates stores in airports, and Italian travel luggage retailer Chic Accent in October.

Samsonite is also keen to expand its reach to offset slowing growth in China, which accounts for about 10 percent its global sales. The company has previously said it expected its China sales growth to halve from the second half of the year.

(Reporting by Donny Kwok; Editing by Stephen Coates and Miral Fahmy)

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