Latest news with #Vihaan
Express Tribune
20 hours ago
- Business
- Express Tribune
Pakistan airspace ban costs Air India Rs8.2b in 40 days
Listen to article As the airspace ban Pakistan slapped on Indian carriers drags on for forty days, the cost for Air India is turning from heavy to near-unsustainable, aviation sources said on Wednesday. The Indian national carrier has already taken a hit of over Rs8.2 billion since the closure began. According to well-placed aviation insiders, Air India is bleeding approximately Rs200 million each day due to longer alternate routes, increased fuel consumption and delays triggered by the airspace detour. In a sign of rising frustration, Air India's Chief Executive Officer Campbell Wilson has formally written to the Indian government, highlighting the scale of financial damage. In the letter, Wilson reportedly warned that continued restrictions could render airline operations unsustainable if not addressed soon. According to The Economic Times, an internal presentation showed that Air India had, late last year, set a target to become profitable by FY 27. However, the closure of Pakistani airspace for Indian carriers is likely to delay that. 'It will still take a little bit more time to achieve what we want to achieve, but it was a five-year project in the beginning,' Wilson said in the interview to the Economic Times, referring to the five-year transformation plan 'Vihaan' announced in September 2022. 'The closure of Pakistani airspace, which started on April 24, has forced Air India's flights to North America to take detours and stop in Vienna or Copenhagen to refuel, leading to increased expenses,' the report noted. 'It's not insignificant, but…as long as it covers the cost of operation, we will continue to operate,' Wilson said. 'We don't know the extent to which the bottom line is going to be affected. We will try to minimise the effect.' The CEO's concerns are not limited to Air India alone. Other Indian carriers have also reportedly suffered billions of rupees in cumulative losses, though precise estimates remain undisclosed. 'This isn't just turbulence, it's a full-blown storm for Indian aviation,' a senior aviation official remarked, noting that the 40-day closure has upended flight logistics, increased operational costs, and complicated international schedules for Indian carriers. The airspace restrictions, which came into effect in the wake of heightened diplomatic tensions, have now completed 40 days, with no breakthrough in sight. For airlines forced to circumvent Pakistani airspace, the sky is not only the limit but also a costly detour. As the ban continues, industry experts warn that Indian carriers might soon be compelled to cut routes or hike fares, passing the burden onto passengers, unless diplomatic channels find a way to clear the air.
Economic Times
4 days ago
- Business
- Economic Times
Three years after takeover Air India wants to walk without Tata hand holding
Air India, three years post-Tata Sons acquisition, is striving for profitability and reduced reliance on promoter equity. CEO Campbell Wilson highlights initiatives like airline mergers, tech upgrades, and fleet modernization to cut operational costs. Despite narrowed losses in FY24, airspace closures pose challenges, but Air India focuses on service quality and strategic routes to attract premium customers amidst rising competition. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ( Originally published on Jun 01, 2025 ) Three years after salt-to-steel conglomerate Tata Sons acquired Air India, the airline is aiming to be profitable and cut its dependence on equity investment from promoters, the airline's CEO Campbell Wilson in an interview to ET, didn't put a timeline to become profitable, but outlined multiple initiatives like the merger of four airlines into two, upgrading archaic software systems to modern ones, a strong order book for new aircraft while retrofitting the older ones and a better trained workforce as some of the steps which is reducing the cost of to an internal presentation reviewed by ET, the airline, late last year, had set a target to become profitable by FY 27. But closure of the Pakistani airspace for Indian carriers is likely to delay that, say experts.'I think the trajectory is very positive. While Air India has got new aircraft and improved standards, the low cost unit Air India Express has gone from 25 to 100 aircraft in a very short period of time and hence, there is some consolidation that needs to be performed,' Wilson said.'So if you, if you take the 2 units, both have slightly different trajectories, but in totality, are in the right place,Referring to the five-year transformation plan 'Vihaan' which was announced in September 2022, Campbell said,The airline significantly narrowed its losses in FY24, reporting a loss of Rs4,444 crore compared with Rs11,387 crore loss in FY23, its first full year after privatisation in 2022.'It'll take still a little bit more time to achieve what we want to achieve, but it was a five year project in the beginning'.The closure of the Pakistan air space has put a spanner in Air India's road to profitability. Due to the closure, which started on April 24, Air India's flights to North America are being forced to take detours and stops at Vienna and Copenhagen, leading to increased expenses.'It's not insignificant, but you know, as long as it covers the cost of operation, we will continue to operate. We don't know the extent to which the bottom line is going to be affected. We will try to minimise the effect,' Wilson airline has taken multiple mitigating steps like reducing the number of seats sold to reduce weight of aircraft such that only four routes are now doing dual strategy of operating a low cost and full service product though is helping to improve the balance sheet, the top executive said, as the low cost unit will be able to have cost parity with rival IndiGo in domestic sectors while Air India is earning a premium due to better product and service standards.'Previously, there weren't any sufficient advantages to overcome brand reputation, product and service that weren't as developed. But as we attain parity or even leadership on those things, those plus non-stop connections are clearly a competitive advantage,' Wilson airline's passenger revenue has more than doubled with a 49% market share on the top five metro routes and revenue from cargo has tripled since passengers for the airline has increased four times since acquisition, and is 10% of total traffic as the airline has revamped its flight schedules from neighbouring and South East Asian countries and flights are timed such that passengers connect to destinations in Europe, East Asia and Australia with minimum waiting is heating up as rival IndiGo, which has over 60% share of the domestic market, is readying to launch flights to though feels that the service standard and product of Air India will be attractive to the high-paying customers while IndiGo attracts the price conscious travellers. 'There's a premium market that is going via somewhere else because the non-stop proposition isn't of sufficient quality. We are catering to a different market segment and just need to be focused on our product quality, loyalty programme, catering, perception and connectivity,' he the airline's cabin upgrade program has been delayed significantly due to supply chain problems. Passengers flying to Europe and North America regularly complain about the worn out cabin or non-functional seat back screens. 'So there is more consistency to the product than earlier and there will be complete consistency in two years,' Wilson Tata Sons remain patient? 'You should ask them,' he quipped.
Time of India
4 days ago
- Business
- Time of India
Three years post-privatisation, Air India charts profitable flight path amid turbulence
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Three years after its privatisation, Air India remains on course to achieve its twin goals of becoming profitable and transforming into a world-class airline-even as external challenges persist. The carrier has significantly narrowed its losses and reduced its reliance on equity infusions from new owner Tata Sons, CEO Campbell Wilson told ET in an interview. However, he declined to provide a specific timeline for reaching profitability."I think the trajectory is very positive," he merger of four airlines into two, upgrading archaic software systems to modern ones, a strong order book for new aircraft while retrofitting the older ones, and a better trained workforce have all helped reduce the cost of operations and improve efficiency, Wilson to an internal presentation reviewed by ET, Air India had late last year set a target to become profitable by FY27. But closure of Pakistani airspace for Indian carriers is likely to delay that, experts said. "It will still take a little bit more time to achieve what we want to achieve, but it was a five-year project in the beginning," Wilson said, referring to the five-year transformation plan 'Vihaan' announced in September pointed out that the airline has significantly narrowed its losses - to ₹4,444 crore in FY24, from ₹11,387 crore in FY23, the first full year after privatisation. Air India has yet to declare its FY25 numbers."While Air India has got new aircraft and improved standards, the low-cost unit Air India Express has gone from 25 to 100 aircraft in a very short period of time and, hence, there is some consolidation that needs to be performed," Wilson said. "So, if you take the two units, both have slightly different trajectories but in totality, (we) are in the right place."External factors are coming in the way, closure of Pakistani airspace, which started on April 24, has forced Air India's flights to North America to take detours and stop in Vienna or Copenhagen to refuel, leading to increased expenses."It's not insignificant, long as it covers the cost of operation, we will continue to operate," Wilson said. "We don't know the extent to which the bottom line is going to be affected. We will try to minimise the effect."To mitigate the impact, the airline has limited the number of seats sold on some long-haul flights to reduce aircraft weight - allowing them to operate non-stop. Only four Air India flights to North America still require a challenge it faces is a significant delay in its cabin upgrade programme, due to supply chain problems. Passengers flying to Europe and North America regularly complain about the worn-out cabin and non-functional seat-back strategy of operating a low-cost airline along with the full-service product is helping improve the balance sheet, the top executive said. Air India Express will be able to have cost parity with rival IndiGo in domestic sectors while Air India is earning a premium due to better product and service standards, he he said, brand reputation did not matter much because product and service weren't as developed. "But, as we attain parity or even leadership on those things, those plus non-stop connections are clearly a competitive advantage," Wilson airline's passenger revenue has more than doubled with a 49% market share on the top five metro routes. Also, its revenue from cargo has tripled since passengers for the airline has increased four times since acquisition, and is 10% of total traffic as the airline has revamped its flight schedules from neighbouring and Southeast Asian countries and flights are timed such that passengers connect to destinations in Europe, East Asia and Australia with minimum waiting is heating up as rival IndiGo, which has over 60% share of the domestic market, is readying to launch flights to though, feels that the service standard and product of Air India will be attractive to the high-paying customers while IndiGo attracts the price-conscious travellers."There's a premium market that is going via somewhere else because the non-stop proposition isn't of sufficient quality. We are catering to a different market segment and just need to be focused on our product quality, loyalty programme, catering, perception and connectivity," he said.
Nikkei Asia
5 days ago
- Politics
- Nikkei Asia
Stolen futures: The Kashmir children caught up in India-Pakistan conflict
POONCH, Jammu and Kashmir -- Sanjeev Kumar still hears the explosions in his sleep. It was just past daybreak on May 7 when he made the decision to flee. All night, shelling by Pakistani forces had rattled the city of Poonch in India-controlled Kashmir, each blast shaking the walls of his home. He bundled his wife, sister and 13-year-old son, Vihaan, into their car and set off for Jammu, hoping to outrun the violence, which came after New Delhi launched military strikes against its neighbor in the wake of a terrorist attack in the region.
Pink Villa
20-05-2025
- Entertainment
- Pink Villa
Meet actor whose father was CEO, mother owns jewelry brand but he chose different path and is now among popular Bollywood faces
Today, we take a look at the journey of an actor who has carved a niche for himself in the industry through his distinctive choice of roles. He is none other than Vihaan Samat. From gaining recognition with Call Me Bae and CTRL to his recent appearance in The Royals, Vihaan has come a long way. Before Call Me Bae, Vihaan Samat appeared in his debut American film Worth, which was released in 2020. He made his Bollywood debut the same year with the web series Mismatched, and later earned critical acclaim for his performance in Eternally Confused and Eager for Love. Vihaan Samat was born on March 9, 1996, in Kolkata (formerly Calcutta). Although his birthplace is Kolkata, he spent his formative years in Mumbai, where he also completed his early education. Vihaan studied at the prestigious Dhirubhai Ambani International School in Mumbai. Later, The Royals actor pursued higher education in the United States, enrolling at New York University's Tisch School of the Arts. There, he earned a degree in media arts, laying the groundwork for his career in acting and entertainment For those unfamiliar, Vihaan Samat comes from an accomplished family. His mother, Vanita Samat, is the founder of the well-known fashion jewellery label. His father, Yogesh Samat, has carved a remarkable path in the corporate sector and currently serves as a director at a leading company. Throughout his career, he has held several senior leadership roles, including positions as a consultant, CEO of major firms, marketing manager, and product manager at reputed organizations. Hailing from a well-established family, Vihaan Samat has carved a niche for himself in the Hindi film industry with a blend of talent and charisma. His growing popularity is evident from his Instagram following, where he currently boasts over 407K followers.
