Latest news with #regionalconnectivity
Skift
a day ago
- Business
- Skift
How India's Aviation Clout Is Growing on the Back of Its Aspiring Travelers
India's regional air connectivity is playing catch-up with the demand of its aspirational travelers. And this is set to drive growth in India's aviation industry over the next few years. This week, India was listed as the third-largest global aviation market by the International Air Transport Association (IATA). In his speech at the IATA annual general meeting on Monday, Indian Prime Minister Narendra Modi said aviation is poised to become the center of major transformation and innovation in the times ahead. He added that India is prepared for all of these possibilities as the country has an aspirational consumer market. According to IATA's report, India's 174 million passengers in 2024 accounted for 4.2% of global air traffic. This was significantly less than the United States' 18% share and China's 16.7%. However, India's passenger volume has more than doubled as compared to just over a decade ago. Due to Indian travelers' aspiration to explore, by late last year, international traffic from India was 20% higher than pre-Covid. Regional Connectivity: According to Modi, the regional connectivity scheme UDAN has been a 'golden chapter' in the civil aviation of India. The UDAN scheme, launched in October 2016, aimed to provide more affordable and accessible flying options to travelers across the country, especially in Tier-2 and 3 countries. Under the scheme, several new regional airlines such as Fly91 and Star Air have started operations in India and are flying on underserved routes which are incentivized by the Indian government. According to a ministry of civil aviation release in April, 625 routes across 90 airports have been operationalized under the scheme. The scheme's penetration into smaller markets has led to the number of airports across India to rise from 74 in 2014 to 162. However, despite this growth, the aviation sector in India continues to be underpenetrated. This highlights the potential of the Indian aviation industry to keep growing as demand continues to rise. Over the next five years, the country is planning to build 50 new airports, Civil Aviation Minister Rammohan Naidu Kinjarapu said in January. Leela Parent Has Lukewarm Debut on Bourses Luxury hotel chain The Leela's parent Schloss Bangalore listed on the Indian bourses on Monday 7% below the IPO price at INR 406 ($4.74) before rising to close at INR 435.55 ($5.08). The stock slightly declined on Tuesday to close at INR 435.10 ($5.08). However, the stock failed to hit upper limit on either of the days, indicating moderate investor sentiment. The mega $400 Million IPO of the luxury chain was highly anticipated in the months leading up to the IPO due to it being the largest IPO in the Indian hospitality industry. Last September, the company had filed for a $599 million (INR 50 billion) IPO with the stock exchange regulator, before reducing the size of the issue in the days leading up to the listing. Despite this, the IPO last week failed to garner the same enthusiasm as seen in recent IPOs in the travel spaces such as TBO Tek and Ixigo. The Leela's issue was subscribed 4.5 times the number of shares on offer during the 3-day window. Still, The Leela now has IPO money. It is planning to use this money to pay down its debts and fuel its hotel expansion. The hotel chain has no plans to deviate away from its luxury branding, but it is looking at niche segments such as wildlife, religious tourism, and heritage to grow its portfolio in smaller markets. Dubai's New Campaign Features Virat and Anushka Visit Dubai has unveiled a new campaign with Indian cricketer-actress couple Virat Kohli and Anushka Sharma. The campaign called "Dubai, Ready For a Surprise" is the pair's first-ever destination-focused partnership. As part of this, a campaign film has been released to showcase Dubai for travelers. Dubai has aimed to highlight its offerings beyond popular landmarks and experiences in order to invite first-time as well as repeat travelers. 'As we work towards the goal of further consolidating Dubai's position as a leading global city for business and leisure, this campaign underlines the diversity of Dubai's ever-evolving offering,' said Issam Kazim, CEO of Dubai corporation for tourism and commerce marketing. He added, 'India remains one of our most important source markets, and partnerships like these help us foster meaningful cultural connections.' Speaking at the Skift India Summit last year, Kazim had joked that Dubai is an Indian city. India has been one of the largest source markets for Dubai since 2015. 'The culture between India and the UAE is so strong. The historical relationship is so strong. It's natural for a lot of Emiratis to speak Hindi fluently," he said. The emirate has also routinely partnered with Bollywood celebrities to attract Indian travelers. In 2022, Dubai Tourism launched a global campaign with Bollywood legend Shah Rukh Khan to promote the emirate and its travel spots. According to Kazim, Bollywood stands as a huge travel generator for Dubai, serving as an "organic" way to drive interest. Air India Enhances Airline Partnerships Over the past two days, Air India has entered into partnerships with five airlines - airBaltic, Bulgaria Air, Cyprus Airways, Uzbekistan Airways, and Icelandair - and expanded its existing codeshare agreement with Air Mauritius. As part of its new partnerships, the Indian full-service carrier is aiming to grow its connectivity to Europe and Central Asia. Air India's interline partnerships with airBaltic, Bulgaria Air, Cyprus Airways, and Uzbekistan Airways will expand its network to 16 more destinations across 6 countries, including Latvia, Estonia, Lithuania, Bulgaria, Cyprus, and Uzbekistan. The codeshare agreement with Iceland's flag carrier Icelandair is expected to boost connectivity between the two countries across 15 routes to India and in Europe. Air India will add its flight code on Icelandair-operated flights between Reykjavik and London Heathrow, London Gatwick, Frankfurt, Paris, Amsterdam, Copenhagen, Milan, and Zurich. Conversely, Icelandair's flight code will be added to Air India-operated flights between Delhi and Amsterdam, Paris, Copenhagen, Frankfurt, London Heathrow, and from Mumbai to Frankfurt and London Heathrow. Air India's expanded codeshare agreement with Air Mauritius will now allow the two airlines to place their flight codes on a total of 17 routes between India, Mauritius, Réunion, South Africa, and Madagascar. IndiGo Enters Codeshare Partnership With Garuda Indonesia After a slew of announcements this week, IndiGo on Tuesday entered into a codeshare agreement with Indonesia's national carrier Garuda Indonesia. The bilateral partnership will allow customers between India and Indonesia to travel through Singapore, Bangkok, Jakarta and Bali on a single booking. Under the codeshare agreement, IndiGo's network will expand to 17 new destinations across Indonesia. Conversely, Garuda Indonesia will get access to seven destinations in India. Garuda Indonesia's Commercial Director Ade R Susardi said, 'India is one of the potential markets for Garuda Indonesia. Through this collaboration with IndiGo, it is hoped that it will be able to support the Government's efforts in optimizing tourist visits to Indonesia as well as expanding Garuda Indonesia's international flight network, especially in the South Asia region.' Agoda's New AI Vacation Planner Launched in India Online travel agency Agoda has unveiled its AI vacation planner for Indian tourists in its latest marketing campaign. The travel planner, which features Bollywood actor and Agoda brand ambassador Ayushmann Khurrana, has been launched for a limited time on a special campaign website, the company said in a statement. In the campaign, Khurrana is featured as the 'Chief Wellness Officer Mr. Vacaywala' in the AI travel planner-generated videos. The videos highlight budget-friendly hyperpersonalized travel options, providing travelers with tailor-made itineraries promptly along with additional discounts. Agoda is seemingly building an emotional connection with this campaign. In these videos, Khurrana addresses travelers by their first name using AI and then proceeds to share travel attractions suited to them based on their personal needs. MakeMyTrip's Newest Feature for Train Travelers Online travel company MakeMyTrip has launched a new 'seat availability forecast' feature for train travelers. The feature will provide a predictive view of when seats on a selected train are likely to sell out. For this, the company is using historical booking data with real-time demand signals, it said in a statement. The company said that according to its data, nearly 40% customers book train tickets across multiple sessions, often over several days. It added that while train ticket reservations open 60 days ahead of departure, most travelers finalize plans closer to travel date, leading to a significant number of travelers ending up with waitlisted tickets due to unavailability. MakeMyTrip has also launched a 'sold-out alerts' feature which prompts action as seat availability begins to drop. This feature notifies users when tickets on their selected train fall below a defined threshold so that they can book confirmed seats in time.
Arab News
2 days ago
- Business
- Arab News
Pakistan, Uzbekistan to devise joint strategy for completion of UAP rail connectivity project
ISLAMABAD: Pakistan and Uzbekistan have agreed to formulate a joint strategy for the completion of the Uzbekistan-Afghanistan-Pakistan (UAP) railway project, Pakistani state media reported, amid Islamabad's efforts to open new regional trade avenues. The development followed a meeting between Pakistan's Railways Minister Hanif Abbasi and Uzbek Ambassador to Islamabad, during which the two figures held detailed discussions on the approximately 850-kilometer-long railway connectivity project, which includes a 647-kilometer rail track passing through Afghanistan. The trilateral initiative was launched in 2021 to enhance regional connectivity by linking Central Asia with Pakistan's southern ports of Gwadar and Karachi through Afghanistan. The project aims to improve trade access for landlocked countries and strengthen economic integration across the region. 'Upon completion of this project, Pakistan will gain the shortest and most efficient route to Central Asia, which will not only increase trade volumes but also strengthen the region's economy on a solid footing,' Abbasi was quoted as saying by the APP news agency. 'This railway corridor will significantly reduce transit time and transportation costs, benefiting all stakeholders.' Pakistan is seeking to leverage its strategic position as a key trade and transit hub to connect Central Asia with global markets and since last year, there has been a flurry of high-level visits, investment discussions and other economic engagements between Islamabad and Central Asian republics. Abbasi highlighted that the corridor is expected to handle an annual freight capacity of 15 million tons, which could help boost exports and imports across the region, according to the report. 'This project will not only reinforce economic ties but will also play a pivotal role in promoting regional peace and stability,' he said. On the occasion, Ambassador Tukhtaev acknowledged investment opportunities in Pakistan's railway sector and emphasized the importance of collaborative efforts to foster economic prosperity and create employment for both peoples, according to the APP report. Both officials also acknowledged the positive impact of the UAP project in promoting peace and stability in Afghanistan. Last week, Pakistan's Deputy Prime Minister Ishaq Dar also held a phone call with his Uzbek counterpart, Saidov Bakhtiyor Odilovich, to discuss steps to advance the UAP railway project, including the framework agreement and its signing mechanism. Over the years, the project has faced significant challenges, including security concerns in Afghanistan, and the need to reconcile differing railway gauges across the three countries. 'Emphasizing the importance of the Uzbekistan-Afghanistan-Pakistan (UAP) Railway Line Project for regional connectivity, both leaders agreed to work closely for an early finalization of the framework agreement,' the Pakistani foreign office said.
Free Malaysia Today
25-05-2025
- Business
- Free Malaysia Today
Deal on Asean power grid to be sealed in October, says Tengku Zafrul
Investment, trade and industry minister Tengku Zafrul Aziz talking to his counterparts during the ministerial lunch after the 25th Asean Economic Community Council meeting today. (Bernama pic) PETALING JAYA : Negotiations on the enhanced memorandum of agreement for the Asean Power Grid (APG) are set to conclude with a signing at the 43rd Asean Ministers on Energy Meeting in October. This is aimed at strengthening regional energy security, connectivity and sustainability, Bernama quoted investment, trade and industry minister Tengku Zafrul Aziz as saying. He said the Asean economic ministers also welcomed ongoing work towards the establishment of the APG Financing Facility Framework, which will enhance cross-border flows of foreign direct investments and new funding opportunities for regional energy-related projects. 'The Asean Economic Community (AEC) Council also expressed full support for the convening of a joint meeting of Asean's energy, finance and economic ministers in August this year,' he said after the 25th AEC Council meeting in Kuala Lumpur today, held in conjunction with the 46th Asean Summit. Meanwhile, Prime Minister Anwar Ibrahim, in welcoming Laos prime minister Sonexay Siphandone, who is on a three-day official visit to Malaysia, said both parties also agreed to implement the second phase of the APG initiative, which will include Laos, Cambodia and Thailand, alongside Malaysia and Singapore. He said while the initial phase links Vietnam to the northern part of Malaysia, discussions with Siphandone underscored the need to fast-track the next phase to benefit more countries in the region. The first phase includes an undersea cable from Vietnam to the northern part of Malaysia. Anwar highlighted the growing economic confidence in Laos, citing the presence of four major Malaysian banks, namely Maybank, RHB, CIMB and Public Bank, operating in the country. Boosting cross-border trade via rail and sea Laos and Malaysia have established a partnership to boost cross-border trade via rail and sea with the exchange of a memorandum of cooperation between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP). Prime Minister Anwar Ibrahim with Laos prime minister Sonexay Siphandone, who is on a three-day official visit to Malaysia. (Bernama pic) Anwar and Siphandone witnessed the exchange of documents for the MoC between MMC Port Holdings Sdn Bhd CEO Azman Shah Yusof and PTL Holding Co Ltd (PTLH) CEO Chanthone Sitthixay. PPSB is a subsidiary of MMC Ports, while PTLH is the parent company of Vientiane Logistics Park Co Ltd, which manages the dry port. The collaboration is part of a broader initiative under the Pan-Asia Railway Network, integrating the China-Lao Railway to create a strategic trade route linking southern China through Laos and Thailand to Malaysia's west coast. Azman said the collaboration would involve the sharing of operational knowledge, joint marketing efforts, system integration, simplification of documentation processes, harmonisation of infrastructure, and short-term personnel exchanges. MMC Ports is a holding company for its subsidiaries that operate five ports across Peninsular Malaysia, namely PPSB, Port of Tanjung Pelepas, Johor Port Bhd, Northport (M) Bhd, and Tanjung Bruas Port Sdn Bhd, making it Malaysia's largest port operator. This is the second time that TDP has signed an MoC with a Malaysian company, following an earlier agreement with Mutiara Perlis Sdn Bhd to facilitate inland port services between Perlis Inland Port and TDP in Vientiane. In 2024, total bilateral trade between Malaysia and Laos stood at RM99.7 million, with Malaysia's exports valued at RM67.8 million and imports totalling RM31.9 million. Malaysia is Laos's fifth-largest foreign investor, with total investments worth US$942 million across 46 projects in sectors including renewable energy, transport, telecommunications, construction, banking and hospitality.
Associated Press
23-05-2025
- Business
- Associated Press
Trans-Caspian Cable Construction Reaches New Milestone
AzerTelecom and Kazakhtelecom Reach Key Milestone in Regional Connectivity Project Linking Asia and Europe Through the Caspian Sea BAKU, AZERBAIJAN, May 23, 2025 / / -- The Trans-Caspian Cable project—set to establish the first fiber-optic connection between Azerbaijan and Kazakhstan—has reached a significant construction milestone. AzerTelecom and Kazakhtelecom, the project owners, are pleased to announce the successful completion of the Desktop Study, a comprehensive pre-engineering assessment of the marine environment and proposed cable route. This achievement marks a strong and promising start to the upcoming submarine installation phase. The final Desktop Study report includes a detailed analysis of marine charts, seabed conditions, environmental factors, and potential route hazards. This foundational data will inform the next stages of the project, including the marine survey and cable route engineering. Technical supervision and advisory support are being provided by U.S.-based Pioneer Consulting, ensuring all milestones and deliverables align with global standards and industry best practices. As part of its role, Pioneer Consulting contributed to the Desktop Study by reviewing key design elements and offering expert recommendations, supporting the report's acceptance by AzerTelecom and Kazakhtelecom. This milestone confirms that the proposed fiber-optic route meets international engineering standards and adheres to stringent safety and quality benchmarks. Yusif Jabbarov, Chairman of NEQSOL Holding—owner of AzerTelecom, Azerbaijan's leading backbone internet provider—emphasized the project's broader impact and that it not only strengthens digital connectivity and technological advancement across the region but also opens a new chapter in regional economic cooperation. Jabbarov stated that 'This project is a key component of NEQSOL Holding's strategic Digital Silk Way initiative, which aims to build a sustainable digital future for the region. We are implementing cutting-edge, internationally recognized solutions to usher in a new era of faster, more reliable, and high-quality connectivity between Asia and Europe.' Nurlan Meirmanov, Chief Strategy and External Assets Officer at Kazakhtelecom, added: 'This year, we signed a contract for the construction of the Trans-Caspian fiber-optic cable across the Caspian Sea and reached our first major milestone—the completion of the Desktop Study. The next step is the marine route survey, and I'm pleased to report that all activities are progressing on schedule. At Kazakhtelecom, we've formed a dedicated implementation team focused solely on this unique and large-scale project.' Dave Marie, Project Manager and Director of Client Solutions at Pioneer Consulting, stated: 'Since January 2024, our team has supported the design and procurement of the Trans-Caspian submarine cable system. We are honored to collaborate with AzerTelecom and Kazakhtelecom to deliver this much-needed high-speed and reliable fiber-optic system to the region.' The Trans-Caspian Cable Line will span 380 km across the Caspian Sea, connecting Sumgait (Azerbaijan) and Aktau (Kazakhstan). With a transmission capacity of up to 400 terabits per second, it will form a high-speed, low-latency regional connectivity corridor. Construction is expected to be completed by the end of 2026. About AzerTelecom AzerTelecom is a leading telecommunications operator in Azerbaijan, providing wholesale, carrier-grade communications and digital services. It operates within the Azerconnect Group, part of NEQSOL Holding, and is rapidly expanding its presence in local, regional, and international markets by incorporating cutting-edge technologies and fostering sustainable growth in both society and the ICT sector. About Kazakhtelecom Kazakhtelecom JSC is Kazakhstan's largest telecommunications company, offering a full range of services including fixed-line and mobile telephony, internet access, television broadcasting, and data transmission. Established in 1994, the company plays a key role in the development of Kazakhstan's communications infrastructure and is recognized for its commitment to innovation and service quality. About Pioneer Consulting Pioneer Consulting brings decades of experience in submarine fiber-optic telecommunications systems. The firm provides expert counsel throughout the subsea cable installation process, offering technical and commercial insights and end-to-end project support. With over 160 completed projects spanning every ocean and seven continents, Pioneer Consulting is a trusted leader in the submarine telecom industry. Nazrin Gadimova NEQSOL Holding [email protected] Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
