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Economic Times
4 days ago
- Business
- Economic Times
Real cost of flying cheaper: IATA says airfares down 40%, but planes are stuck in traffic
Despite lower ticket prices, the aviation industry faces significant headwinds. IATA highlights supply chain issues, with aircraft delivery delays stretching to 14 years and impacting airline profitability. Regulatory hurdles and safety concerns, including incomplete accident investigations and conflict zone risks, further cloud the skies for airlines and passengers alike. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Despite sky-high fuel prices, taxes, and a turbulent global economy, the real cost of flying has nosedived—by 40% over the past decade. So says Willie Walsh, Director General of the International Air Transport Association IATA ), speaking at the group's annual general meeting in India, its first in the country in 42 while ticket prices have dropped, airline growth is being clipped by some serious supply chain over 350 global carriers, IATA projects airlines will earn a combined profit of USD 36 billion this year on revenues of USD 979 billion. That's a net margin of 3.7%, or a modest USD 7.20 profit per passenger, reported PTI.'Our profitability doesn't match the value we create,' Walsh said, pointing out that aviation supports 86.5 million jobs and accounts for 3.9% of global so, India's booming aviation sector is seeing surging demand and rising concerns about airfare fluctuations—despite the overall drop in inflation-adjusted ticket the aviation industry is stuck in a holding pattern—literally—when it comes to aircraft blasted the manufacturing sector for its poor performance: a 17,000 aircraft backlog means customers face a 14-year wait from order to delivery. Aircraft deliveries scheduled for 2025 are already 26% below what was promised just a year than 1,100 aircraft less than 10 years old are currently mothballed, equating to 3.8% of the fleet—nearly triple the pre-pandemic average. The annual fleet replacement rate has slumped to 3%, far below the healthy 5–6% shortage isn't just an inconvenience; it's costing money. 'Some demand goes unmet. Scarcity drives up maintenance and leasing costs,' Walsh noted. And it's unlikely to improve anytime soon—manufacturers say it could take until 2030 to untangle the to the turbulence, Walsh took aim at bad regulation, calling it a major threat to affordability and progress. 'Regulators aren't spending their own money. Business leaders think in terms of cost-benefit. Politicians? Not always,' he safety, there's more troubling news: fewer than half of aviation accident investigations in the past six years have produced final reports, meaning vital safety lessons are being year, commercial aviation saw just seven fatal accidents across 40.6 million flights, with 244 fatalities among 4.8 billion passengers—a strong safety record overall. But conflict zones have added new risks, with two civil aircraft downed and airports bombed in military operations. Navigation system interference near war zones is also on the may be cheaper than ever, but between plane shortages, regulatory red tape, and global unrest, the skies aren't as clear as they used to be.(With inputs from PTI)
Time of India
4 days ago
- Business
- Time of India
Real cost of flying cheaper: IATA says airfares down 40%, but planes are stuck in traffic
Despite lower ticket prices, the aviation industry faces significant headwinds. IATA highlights supply chain issues, with aircraft delivery delays stretching to 14 years and impacting airline profitability. Regulatory hurdles and safety concerns, including incomplete accident investigations and conflict zone risks, further cloud the skies for airlines and passengers alike. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Despite sky-high fuel prices, taxes, and a turbulent global economy, the real cost of flying has nosedived—by 40% over the past decade. So says Willie Walsh, Director General of the International Air Transport Association IATA ), speaking at the group's annual general meeting in India, its first in the country in 42 while ticket prices have dropped, airline growth is being clipped by some serious supply chain over 350 global carriers, IATA projects airlines will earn a combined profit of USD 36 billion this year on revenues of USD 979 billion. That's a net margin of 3.7%, or a modest USD 7.20 profit per passenger, reported PTI.'Our profitability doesn't match the value we create,' Walsh said, pointing out that aviation supports 86.5 million jobs and accounts for 3.9% of global so, India's booming aviation sector is seeing surging demand and rising concerns about airfare fluctuations—despite the overall drop in inflation-adjusted ticket the aviation industry is stuck in a holding pattern—literally—when it comes to aircraft blasted the manufacturing sector for its poor performance: a 17,000 aircraft backlog means customers face a 14-year wait from order to delivery. Aircraft deliveries scheduled for 2025 are already 26% below what was promised just a year than 1,100 aircraft less than 10 years old are currently mothballed, equating to 3.8% of the fleet—nearly triple the pre-pandemic average. The annual fleet replacement rate has slumped to 3%, far below the healthy 5–6% shortage isn't just an inconvenience; it's costing money. 'Some demand goes unmet. Scarcity drives up maintenance and leasing costs,' Walsh noted. And it's unlikely to improve anytime soon—manufacturers say it could take until 2030 to untangle the to the turbulence, Walsh took aim at bad regulation, calling it a major threat to affordability and progress. 'Regulators aren't spending their own money. Business leaders think in terms of cost-benefit. Politicians? Not always,' he safety, there's more troubling news: fewer than half of aviation accident investigations in the past six years have produced final reports, meaning vital safety lessons are being year, commercial aviation saw just seven fatal accidents across 40.6 million flights, with 244 fatalities among 4.8 billion passengers—a strong safety record overall. But conflict zones have added new risks, with two civil aircraft downed and airports bombed in military operations. Navigation system interference near war zones is also on the may be cheaper than ever, but between plane shortages, regulatory red tape, and global unrest, the skies aren't as clear as they used to be.(With inputs from PTI)
India Today
27-05-2025
- Politics
- India Today
88 illegal Bangladeshi nationals detained in 10-day special drive in Delhi
Eighty-eight Bangladeshi nationals were traced and detained during a 10-day-long special verification drive in Delhi's South West district. The operation, carried out across vulnerable localities such as Sarojini Nagar, Kishangarh, Safdarjung Enclave, Vasant Kunj (North and South), Kapashera, Palam Village, Delhi Cantonment, and Sagarpur, involved extensive door-to-door was part of the Ministry of Home Affairs' ongoing campaign to identify and deport foreign nationals residing unlawfully in on specific intelligence and input from local informers, police teams launched coordinated efforts to identify individuals lacking valid documentation. According to Deputy Commissioner of Police (Southwest) Surendra Choudhary, all 88 individuals failed to produce legal documents permitting their stay in India. Many were found in possession of Bangladeshi identity documents, which were subsequently recovered and verified during the process.'The detained individuals admitted to entering India through unauthorised routes,' said DCP Choudhary was quoted as saying by news agency PTI.'Some crossed riverine borders, while others exploited gaps in border fencing to infiltrate the country. Most had been residing in the capital for several years, working as daily wage laborers or in domestic roles," the official a separate operation, the police also detained a Bangladeshi family of four — Mohd Asad Ali (44), his wife Nasima Begum (40), and their two children — from the Delhi Cantonment area. The family, who had been residing illegally in India for over a decade, confessed to being natives of Farooq Bazar Ajwatari, Phulbari Kurigram in were able to present valid Indian citizenship documents. Their deportation process has been initiated with the assistance of the Foreigners Regional Registration Office (FRRO), New the latest operation, the total number of Bangladeshi nationals apprehended in the South West District since December 26, 2024, has risen to Delhi Police reiterated their commitment to maintaining internal security and upholding immigration laws, emphasising that the verification and deportation efforts will continue under the broader mandate of the Home Ministry's campaign against illegal PTI inputsMust Watch
India Today
26-05-2025
- India Today
Teen raped for 2 months in captivity, underwent abortion, forced into prostitution
A 15-year-old girl was confined in a house for two months when she was allegedly repeatedly raped, forced to undergo an abortion and then pushed into prostitution by a man known to her family in Maharashtra's Thane district, police said. Four people, including a woman, have been arrested, though the main accused is still at minor lived with her mother, who sells food, and her sister in Dombivli and she came in contact with the accused, Ashutosh Rajput, who is a spice seller. The accused used to visit the girl's house day, the girl had an argument with her mother after she gave her Class 10 exams and walked out of her house. Taking advantage of the situation, Rajput cajoled her into coming with him. Later, when the teenager didn't return home, her worried mother attempted to find her. However, Rajput told her she saw her daughter somewhere in Dombivli and that she was angry and wouldn't come back. He assured her that he would bring the girl back when the girl did not return home after two months, her mother became suspicious and filed a complaint of kidnapping at the police station. The police then began searching for minor was finally found at a home in a rural part of Dombivli and was rescued by the police. During investigation, it was found that the girl was locked in a room for two months and she was repeatedly raped and impregnated by the accused, police the minor became pregnant, Rajput took her to a woman's house belonging to one Muskan Sheikh, to get her abortion done. She was then forced into prostitution before she narrated her ordeal with some social workers who found her, following which the police swung into arrested Sheikh, her husband and two others in connection with the incident. Rajput, however, is still on the run, and the police formed teams to catch him.A case was registered under Bharatiya Nyaya Sanhita sections 137(2) (kidnapping), 65(1) (rape in certain cases), 88 (causing miscarriage), 143 (trafficking of person), 144 (exploitation of trafficked person) as well as provisions of Protection of Children from Sexual Offences (Pocso) Act and Immoral Traffic (Prevention) Act, Assistant Commissioner of Police (Dombivli) Suhas Hemade told news agency PTI.(with inputs from Mithilesh Gupta and PTI) IN THIS STORY#Maharashtra
Time of India
29-04-2025
- Business
- Time of India
Foxconn India revenue rises to over $20 billion, employee count up at around 80,000
Foxconn more than doubled its India revenue to over $20 billion in FY 2024-25, driven by iPhone production. Its workforce grew 65% to 80,000. The firm is expanding with major investments in manufacturing, AirPods, and semiconductors, anticipating continued rapid growth. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Taiwanese electronics manufacturing major Foxconn is reported to have more than doubled its revenue in India to over $20 billion (about Rs 1.7 lakh crore) in the financial year 2024-25 on account of a jump in iPhone production, sources aware of the development company is also learnt to have increased its total employee count in the country by over 65% to around 80,000 in fiscal year 2025, industry and government sources aware of the estimates told PTI."Foxconn revenue in India has more than doubled to over USD 20 billion in the financial year 2024-25. The employee count has also gone over 80,000," one of the sources query sent to Foxconn in this regard elicited no Minister Ashwini Vaishnaw earlier this month announced that mobile phone exports from India have crossed an all-time high of Rs 2 lakh crore in FY 2024-25 in which iPhone exports alone accounted for exports worth Rs 1.5 lakh said that Foxconn is expected to grow multifold in the current fiscal year as the iPhone maker is reportedly mulling to manufacture all iPhones for sale in the US is the biggest manufacturer of iPhones. The company is already in the process of setting up its second largest facility outside China in Devanahalli near Bangalore with an investment of USD 2.8 billion, (about Rs 25,000 crore).The facility is expected to create over 40,000 Taiwanese electronics manufacturing giant is also in discussion with the UP government to set up an electronics manufacturing unit in Uttar Pradesh which is also expected to be spread over an area of 300 mobile phone manufacturing, Foxconn has started production of AirPods in Hyderabad facility for exports with an investment of $400 million (about Rs 3,325 crore).Foxconn is also setting up a semiconductor joint venture , Vama Sundari, with JV will initially invest Rs 3,706 crore in setting up an outsourced semiconductor Assembly and Test (OSAT) facility and expects to create around 4,000 jobs.
