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Time of India
27-05-2025
- Business
- Time of India
IndiGo faces over Rs 2.76 crore in fines from customs authorities, airline to contest orders
Representative image IndiGo is facing penalties exceeding Rs 2.76 crore from customs authorities in Ahmedabad and Chennai, but the airline has confirmed it will challenge the demands. In regulatory disclosures on Tuesday, IndiGo said it received penalty orders of Rs 2.20 crore from the Principal Commissioner of Customs in Ahmedabad and Rs 56.2 lakh from the customs office at Meenambakkam, Chennai, reported news agency PTI. The notices were served on May 26 and 27, respectively, and relate to customs duty claims raised by the authorities. The airline asserted that all customs duties were duly paid and that it stands by the correctness of its actions. IndiGo added that it plans to file appeals with the appropriate appellate bodies. Airlines' parent company InterGlobe Aviation clarified that the penalties are not expected to materially impact its financial position, operations, or other business activities. Shares of the company declined nearly 2 per cent on Tuesday, closing at Rs 5,313.15 on the BSE. Meanwhile, in a separate development, InterGlobe Aviation saw its promoter Rakesh Gangwal and the Chinkerpoo Family Trust sell 5.72 per cent ownership through open market deals for Rs 11,564 crore. According to the National Stock Exchange's bulk deal information, Gangwal and the trust, which is administered by Shobha Gangwal and JP Morgan Trust Company of Delaware, sold 2.21 crore equity shares. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like IITD Tech Leadership Program IITD TAILP Apply Now Undo The shares were sold at a price range of Rs 5,230.99-5,235.31, with the total transaction value reaching Rs 11,563.79 crore. After these sales, Gangwal's ownership in IndiGo declined to 4.7 per cent from the previous 5.30 per cent, and simultaneously, the trust's shareholding diminished to 3.08 per cent from its earlier position of 8.23 per cent. Read more: Rakesh Gangwal, family trust offload 5.72% stake in IndiGo worth Rs 11,564 crore Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
12-05-2025
- Business
- Time of India
With Elon Musk's Starlink role under scrutiny, EU sends questionnaire on SES-Intelsat merger
EU antitrust regulators are ramping up their examination of European satellite operator SES's $3.1 billion proposed acquisition of Intelsat, a deal aimed at bolstering Europe's position in the global satellite communications market. The European Commission has issued a detailed questionnaire to customers and competitors, probing whether Elon Musk 's Starlink, owned by SpaceX , poses a credible competitive threat to the merging companies. The responses, due today, will play a pivotal role in determining whether the deal sails through, requires concessions, or faces a full-scale investigation. SES, which operates a fleet of approximately 70 satellites across multiple orbits, provides critical services such as video broadcasting, government communications, and broadband internet. Intelsat, a Luxembourg-based giant, complements SES with its extensive global satellite network. The merger is seen as a strategic move to create a European satellite powerhouse capable of competing with U.S.-based giants like Starlink and Amazon's Project Kuiper , both of which are rapidly expanding their low-earth orbit (LEO) constellations to deliver high-speed internet globally. The European Union is keen to foster a robust alternative to American dominance in satellite communications, particularly as geopolitical tensions highlight the need for secure and independent connectivity infrastructure. However, the Commission is wary of the merger reducing competition in an already concentrated market. Its questionnaire, obtained by Reuters, zeroes in on whether LEO satellite providers like Starlink and Eutelsat's OneWeb are viable rivals to SES and Intelsat, which primarily rely on geostationary (GEO) and medium-earth orbit (MEO) satellites. Regulators are asking whether LEO operators are actively competing in tenders and securing customer contracts, and how their growing presence might reshape the satellite capacity market over the next five years. Unlike traditional GEO satellites, which orbit at higher altitudes and offer wide coverage, LEO satellites provide lower latency and faster data speeds, making them increasingly attractive for broadband and real-time applications. Starlink, with thousands of satellites already in orbit, has disrupted the industry by offering direct-to-consumer internet services and securing contracts with governments and businesses. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like IITD Tech Leadership Program IITD TAILP Undo The Commission is also probing the bargaining power of SES and Intelsat's customers. Respondents were asked whether they can negotiate favorable terms for two-way satellite capacity and if switching to alternative providers, such as Starlink or OneWeb, is feasible. This line of inquiry reflects concerns that the merger could strengthen SES-Intelsat's market dominance, potentially leading to higher prices or reduced service quality for customers, including telecom operators, broadcasters, and government agencies. Europe's Satellite Ambitions vs Global Competition The SES-Intelsat merger is more than a corporate transaction; it's a critical piece of Europe's strategy to reclaim ground in the space race. For decades, European satellite operators like SES and Eutelsat have been global leaders, but the rise of U.S.-based LEO constellations has shifted the competitive landscape. Starlink's aggressive expansion—coupled with SpaceX's reusable rocket technology, which slashes launch costs—has put pressure on traditional operators. Amazon's Project Kuiper, though still in its early stages, looms as another formidable challenger. From a European perspective, consolidating SES and Intelsat could create economies of scale, enabling the combined entity to invest in next-generation technologies, including LEO satellites, to compete with Starlink's speed and Kuiper's ambition. However, critics argue that the merger risks stifling competition within Europe, where fewer players could mean less innovation and higher costs for consumers. Smaller satellite operators and new entrants may struggle to challenge a SES-Intelsat behemoth, particularly if it leverages its market power to secure exclusive contracts. The Commission's focus on Starlink's competitive impact also raises questions about the broader dynamics of the space industry. While Starlink's LEO model offers advantages in speed and coverage, its direct-to-consumer approach and vertically integrated structure (with SpaceX controlling launches) make it a unique player. Traditional operators like SES and Intelsat, which serve enterprise and government clients, argue that their services remain distinct, catering to specialized needs like secure military communications and broadcast distribution. Yet, as Starlink expands into these markets, the lines are blurring. What's Next The European Commission has set June 10, 2025, as the deadline for its preliminary review. If the responses to the questionnaire indicate that Starlink and other LEO providers are sufficiently competitive, the deal may be cleared with minimal conditions. However, if regulators find that the merger could harm competition—particularly in the supply of two-way satellite capacity—a deeper investigation could delay or even derail the transaction. SES and Intelsat may need to offer remedies, such as divesting assets or guaranteeing access to their infrastructure for competitors. As the deadline approaches, the outcome of this probe will not only shape the future of SES and Intelsat but also signal how Europe plans to navigate the high-stakes, high-orbit world of global satellite communications. With Starlink's shadow looming large, the EU faces a delicate balancing act: fostering a strong European champion without sacrificing the benefits of a competitive market. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
