Skip to content
Search

Latest Stories

Air India losses Rs 4.91bn due to closure of Pakistan airspace

DUE to the closure of airspace by Pakistan, national carrier Air India lost Rs 4.91 billion till July 2, according to data presented by country's civil aviation minister Hardeep Singh Puri in Rajya Sabha (lower house) on Wednesday (3).

Private airlines SpiceJet, IndiGo and GoAir lost Rs 307.3 million, Rs 251m and Rs 21m, respectively, the data stated.


Pakistan closed its airspace after the Indian Air Force’s (IAF) February 26 Balakot strike. Since then, it has only opened two of 11 air routes and both of them pass through southern Pakistan.

On its part, the IAF announced on May 31 that all temporary restrictions imposed on Indian airspace post the Balakot strike have been removed.

However, it is unlikely to benefit any commercial airliners unless Pakistan reciprocates and opens its complete airspace.

In a written response, Puri said," The airspace closure by Pakistan is a unilateral measure that followed the non-military counter-terrorism airstrike by the Indian Air Force against terror camp in Balakot in Pakistan in February 2019. It is for Pakistan to decide."

Post the airstrike, Air India had to re-route, merge or suspend many of its international flights that connect India with European and the US cities.

IndiGo, India's largest airline by share in the domestic passenger market, has been unable to start direct flights from Delhi to Istanbul due to the closure of Pakistani airspace.

The low-cost carrier started the Delhi-Istanbul flight in March.

This flight has to take the longer route over the Arabian Sea and make a stop at Doha in Qatar for refuelling.

(PTI)

More For You

cryptocurrencies

The changes will bring companies providing crypto services, including exchanges and digital wallets, fully into the FCA's remit

Getty Images

UK Treasury sets out rules to bring cryptocurrencies under regulation from 2027

Highlights

  • Cryptocurrency companies will be regulated similarly to stocks and shares under new legislation.
  • Rules aim to boost consumer protection and make it easier to detect suspicious activity.
  • Government also planning to ban political donations made with cryptocurrency.

Britain will regulate cryptocurrencies like traditional financial products from 2027, the Treasury has announced, as it moves to overhaul the rapidly growing digital currency market.

New legislation will require crypto companies to meet standards overseen by the Financial Conduct Authority (FCA), providing consumers with protections similar to those for stocks and shares.

Keep ReadingShow less