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☆ Air India is rebranding after years of decline. Here are the biggest changes, from updated uniforms to swanky new Airbus A350s.
▼ + stars: | 2024-02-28 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

The new plane launched on domestic routes, like Bengaluru and Mumbai, in January and will eventually launch overseas, Air India says. It's very likely to fly to the US, though Air India has yet to release specific cities. Air India's business class is also way behind industry standards. Flight attendants and pilots are getting a makeoverIn December, Air India released photos of its new crew uniforms. Ground staff, engineers, and security personnel are also set to get new uniforms, which Air India said it will reveal in "due course."

Persons: —, Campbell Wilson, Taylor Rains, It's, Wilson, Christophe Archambault, Manish Malhotra Organizations: Service, Air India, Tata Group, Air, Business, Tata, Airbus, Boeing, Wings, Paris Airshow, Airbus A320neos, Russian, Aeroflot, India's Boeing, Qatar Airways, Delta Air Lines, Emirates, Q, Getty Images Air, Air India's Boeing Locations: India, Hyderabad, Bengaluru, Mumbai, Air India, AFP, Getty Images Air India, Qatar, Emirates

☆ India's Tata Technologies' IPO garners bids worth over $18 bln
▼ + stars: | 2023-11-24 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

A Tata sign is seen outside their offices in London, Britain March 30, 2016. REUTERS/Toby Melville//File Photo Acquire Licensing RightsBENGALURU, Nov 24 (Reuters) - India's Tata Technologies' 30.43 billion rupee ($366 million) initial public offering (IPO) remained the most oversubscribed domestic IPO this week, signalling robust demand for the Tata group's first public float in nearly two decades. Investors bid for about 3.13 billion shares worth 1.56 trillion rupees ($18.74 billion) by the close of subscriptions on Friday, compared with the 45 million shares on offer, with institutional investors showing the most interest. This is the first Tata group company IPO since Tata Consultancy Services (TCS.NS) in 2004. Tata Technologies, which provides engineering and technology services to auto, aero and heavy machinery makers, will be valued at 202.83 billion rupees at the top-end of its price band of 475-500 rupees.

Persons: Toby Melville, Arun Kejriwal, Rama Venkat, Sonia Cheema Organizations: Tata, REUTERS, Rights, India's Tata Technologies, Tata group's, Kejriwal Research, Investment Services, Tata Consultancy Services, Tata Technologies, Fedbank Financial Services, Flair, Industries, Indian Renewable Energy Development Agency, Gandhar Oil, Kejriwal, Thomson Locations: London, Britain, India, Bengaluru

[1/2] A miniature airplane is placed on the displayed Air India Express and Akasa Air logos, in this illustration taken October 30, 2023. Akasa did not comment on its communication with Air India, but said the issue of pilot exits was "now behind us ... we are squarely back in growth mode". Air India declined to comment and the two chief executives did not respond to requests for comment. The dispute comes at the time of a hiring spree by Air India, with its arm, Air India Express, seeking to more than triple its fleet to 170 over five years. In recent weeks, Akasa has lost about a tenth of its 450 pilots, who left without serving out notice periods, some to join Air India Express.

Persons: Dado Ruvic, Campbell Wilson, Vinay Dube, missive Dube, Akasa, Wilson, Dube, India's Wilson, Aditya Kalra, Aditi Shah, Clarence Fernandez Organizations: Air India Express, REUTERS, Tata's, India Express, Air, Akasa, Reuters, Air India, Tata Group, Tata, of Indian Pilots, Thomson Locations: India, DELHI, Air India

☆ India's Infosys signs $1.5 bln contract to leverage AI solutions
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore, February 28, 2012. REUTERS/Vivek Prakash/File Photo Acquire Licensing RightsBENGALURU, Sept 15 (Reuters) - India's second-largest software services exporter Infosys (INFY.NS) said it signed a $1.5 billion contract for a 15-year period with a "global company". Under the deal, Infosys will provide enhanced digital experiences and business operation services, leveraging the company's platforms and artificial intelligence (AI) solutions, it said on Thursday. Infosys did not name the company nor mention whether it is an existing client. In July, Infosys signed a $2 billion deal with an existing client to provide AI and automation services for five years.

Persons: Vivek Prakash, Manvi, Janane Organizations: Infosys, Electronics City IT, REUTERS, Rights, Nvidia, Reliance Industries, Tata group's Tata Consultancy Services, Thomson Locations: Bangalore, U.S, Manvi Pant, Bengaluru

[1/2] A view shows packets of snacks on the shelves inside a Haldiram's restaurant in Mumbai, India, September 6, 2023. Tata Consumer shares surged and closed nearly 4% higher in Mumbai trade after Reuters reported news of the talks. The potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. A spokesperson for Tata Consumer Products said it "does not comment on market speculation". The $10 billion valuation sought by Haldiram's for the deal translates to 6.6 times its annual revenue of $1.5 billion, sources said.

Persons: Sriram, Tata, Mukesh Ambani's, Tetley, Haldiram's, Krishan Kumar Chutani, Bain, Ankur Bisen, Manohar Lal Agrawal, Aditya Kalra, Chris Thomas, Edwina Gibbs, Alexandra Hudson Organizations: REUTERS, India Tata, Tata, Pepsi, Bain Capital, Tata Consumer Products, Starbucks, Tata Consumer, Reuters, Haldiram's, Euromonitor International, Tata Group, CNBC TV18, Bikaji Foods, Alexandra Hudson Our, Thomson Locations: Mumbai, India, MUMBAI, DELHI, Singapore, United States, Bikaji

☆ India's ITC to demerge hotel business into separate company; shares fall
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, July 24 (Reuters) - India's ITC Ltd (ITC.NS) said it would spin off its hotel business, separating it from its cigarettes and food units, sending shares 4% lower on Monday. Shares of ITC hit a record high earlier in the day before falling as much as 4.3% after the demerger was announced. Indian hotels have turned into a hot sector as pandemic-led disruptions eased, with operators enjoying higher rates and occupancy. The Indian hospitality industry is expected to witness rapid growth going forward, ITC said. The hotel business accounted for nearly 4% of ITC's total revenue from services and sales and contributed over 2% of its annual profit, according to its latest annual report.

Persons: Varun Vyas, Sohini Goswami Organizations: India's ITC, ITC Hotels, ITC, Tata, Indian Hotels, Taj Hotels, Marriott Hotels, Oberoi, Thomson Locations: BENGALURU, Bengaluru

The new plant is expected to be built in Somerset, south-west England, while Jaguar Land Rover's UK factories are based near Birmingham, central England. With an initial output of 40 gigawatt hours, Britain said the factory would provide almost half of the battery production needed by 2030. The Faraday Institution has projected UK battery demand to reach over 100 GWh a year by that time. "With this strategic investment, the Tata Group further strengthens its commitment to the UK," Tata Sons Chairman N Chandrasekaran said in the statement. "Almost every car producing nation in the world (is) offering a lot of incentives in order to ensure that they preserve the integrity of their car industry," he said.

Persons: Danish Siddiqui, Rishi Sunak's, Sunak, N Chandrasekaran, Mike Hawes, Andy Palmer, Aston Martin, Jeremy Hunt, wouldn't, Alistair Smout, Sarah Young, William James, Paul Sandle, Emma Rumney Organizations: Tata Motors, REUTERS, Danish, India's Tata Group, Rover, Tata, BBC, European Union, Nissan, Rover's, Faraday, Tata Group, EV, BBC Radio, Britain, Thomson Locations: Mumbai, India, Britain, Spain, Somerset, England, Birmingham, United States, Europe, China, EU

In granting bankruptcy protection, the National Company Law Tribunal in New Delhi ordered a moratorium on Go First's assets and leases. But bankruptcy protection supersede lessors' repossession requests. Go First's lessors also include SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Its voluntary seeking of bankruptcy protection to renegotiate contracts and debt marks a first for an Indian airline, and Chief Executive Officer Kaushik Khona, who was present as the order was read, hailed the tribunal's decision as "historic". The Indian tribunal said the new resolution professional will take "all necessary steps including the execution of the arbitral award".

India has made it easier for lessors to take back planes if airlines default on payments after joining an international treaty known as the Cape Town Convention. But lack of a proper legislation to enforce the treaty means India's bankruptcy law will supersede lessors' repossession requests, lawyers said. Go First's lessors include major global names such as Jackson Square Aviation, SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Bigger rivals IndiGo (INGL.NS) and Tata Group's Air India are charting major expansion plans with hundreds of new planes on order as domestic air travel in India surpasses pre-pandemic levels. Air India did not immediately respond.

[1/4] Air India passenger aircraft are seen on the tarmac at Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2023. REUTERS/Francis MascarenhasBENGALURU, Feb 14 (Reuters) - Air India has agreed to buy 250 jets from Airbus (AIR.PA), part of a mammoth deal for 470 planes, as the carrier heralds a decades-long transformation under its new owners, Tata Group. The deal is expected to also include an order for 220 planes from Airbus rival Boeing (BA.N), Reuters reported. "We see this moment as the most significant moment for the Tata Group's Air India, Indian aviation and the manufacturing sector in India," he said. Reuters in December reported that Air India was in negotiations for a deal close to 500 planes.

BENGALURU, Feb 13 (Reuters) - India wants to more than triple annual defence exports to $5 billion by 2024/25 from $1.5 billion currently as it looks to ramp up domestic manufacturing, Prime Minister Narendra Modi said on Monday while inaugurating the Aero India show. "Today, India is not just a market for defence companies, it is also a potential defence partner," Modi said in his speech at the show. "I call on India's private sector to invest more and more in the country's defence sector." India, for decades one of the world's biggest importers of defence equipment, now exports to 75 countries, he added. India's airlines are also expanding, with Tata Group's Air India expected to announce a potentially record deal to buy nearly 500 jets from Airbus and Boeing, worth more than $100 billion at list prices.

☆ Air India says pilot's licence suspension over passenger incident 'excessive'
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 24 (Reuters) - Tata Group's Air India said on Tuesday the recent suspension of a pilot's licence by the aviation regulator was "excessive" after a passenger behaved in an unruly manner onboard one of its flights. The regulator also suspended the licence of the pilot-in-command on the New York-New Delhi flight for three months. Air India said the matter should have been classified and reported as unruly behaviour by a passenger, but the flight crew and ground staff did not report it as such. "Air India wishes to acknowledge the good faith efforts made by crew to handle the situation effectively in real time, when not all facts were available," it said in a statement, adding that it deemed "the licence suspension of the commander excessive and will be assisting him with an appeal". ($1 = 81.5780 Indian rupees)Reporting by Tanvi Mehta; Editing by Krishna N. DasOur Standards: The Thomson Reuters Trust Principles.

☆ India's Tata Motors looks to sell part stake in Tata Technologies via IPO
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 12 (Reuters) - Indian automaker Tata Motors Ltd (TAMO.NS) said on Monday it was exploring the sale of a portion of its stake in Tata Technologies through an initial public offering (IPO). Tata Technologies, a product engineering and digital services company, was founded in 1989 as a unit of Tata Motors. The automaker held a 74.43% stake in the company as of March 31, the latest annual report showed. Tata Motors in 2018 called off a deal to sell an about 43% stake in Tata Technologies to private equity firm Warburg Pincus for $360 million, citing delays in securing regulatory approvals and performance not meeting thresholds. The 2022 fiscal annual report showed increased sales at Tata Technologies drove a 46% jump in Tata Motors' revenue from other operations.

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