GO FIRST CEO
TATA Starbucks introduces its first metro store in India
TATA Starbucks opened its first store in a metro station at the Western Express Highway metro station in Mumbai. It will offer quick grab-and-go options and dine-in facilities from 8 am to 9 pm daily. CEO Sushant Dash expressed the company's commitment to providing an exceptional coffee experience in a convenient location. The store features a diverse menu with Indian-inspired beverages and loyalty programs for customers to enjoy.
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
Spend management startup Dice raises $5 million from Dallas Venture Capital India Fund
Dice, an enterprise spend management startup, has raised $ 5 million in a funding round led by VC firm Dallas Venture Capital. The company will use the fresh capital for its go-to-market initiatives, like strengthening market penetration and customer outreach.
Skoda Auto CEO's strategy for Indian market: Humility, learning, customer focus and a new partner
Skoda Auto's CEO Klaus Zellmer highlights India's pivotal role in the company's global strategy, noting it as the most attractive and competitive auto market. With a robust development base in Pune, Skoda plans to leverage India's potential for expansion into ASEAN and the Middle East.
CEO succession planning is important. But how you go about it makes all the difference
Succession planning, including CEO succession plans and leadership pipelines, is crucial for company stability and success. Companies with robust succession plans outperform peers by 20% in revenue growth. Neglecting leadership pipelines can cost companies nearly $1 trillion annually, emphasizing the importance of effective planning.
Good time for IndiGo to grab market share in international segment: Pieter Elbers
If you look at international, though, we do 33 destinations today and they are pretty much in the region and some of the regional and I would say beyond regional expansions, which we recently did, starting flights into Africa, starting flights into Indonesia and starting flights into Central Asia, have been extremely encouraging.
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eBikeGo plans to expand e-two-wheeler fleet to 1 lakh units by FY26
eBikeGo, under the leadership of founder and CEO Irfan Khan, plans to expand its e-two-wheeler fleet to 1-lakh units by FY26, targeting the growing last-mile and e-commerce segment.
CEO fraud: For bigger catch, cybercrooks turn pros, go phishing for whales
Phishing attacks have become more sophisticated, with cybercrooks using social engineering to impersonate top corporate executives and trick employees into sending money. Fraudsters are also using artificial intelligence, launching bot-based attacks, and studying social media profiles to craft convincing mails. Akshay Garkel from Grant Thornton Bharat highlighted the need for improved security awareness levels to combat cyber attacks effectively. Educational institutes like IIMs have also faced impersonation scams, leading to the implementation of stricter systems.
Unpacking Go Digit’s earnings; PEs in IPO-bound firms
Go Digit General Insurance reported its second consecutive full year of profit in fiscal 2024. This and more in today’s ETtech Top 5.
IndiGo, Air India upgrade playbooks to keep up with India's rising middle class
India's rising affluence is driving a significant shift in the lifestyle of the middle class, with a growing preference for premium products and experiences, both on the ground and in the sky. Airlines are capitalizing on this trend by offering luxurious amenities to cater to the surging demand, such as roomier seats, gourmet meals served on designer tableware, and lavish vanity kits.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
IndiGo to add 10 new destinations in FY25
India’s largest airline, IndiGo, plans to start 10 new destinations in FY25, including Mauritius and another destination in Thailand. The airline focuses on fast international expansion and is entering the long haul market with business class in their aircraft.
Indian Airlines ride AI: Human-like responses for passengers, lesser workload for agents
Artificial intelligence is transforming the Indian aviation industry, enhancing customer service and operational efficiency for airlines like Air India, IndiGo, and Akasa Air. From AI virtual agents handling diverse queries to AI chatbots with trillions of parameters, these technologies are streamlining processes and improving passenger experiences. The adoption of new-age technologies like AI and machine learning is on the rise across the industry, promising advancements in areas such as computer vision and data-backed decision-making.
GoAir 'temporarily' loses rights and slots to operate international flights to IndiGo and other companies
GoAir has temporarily lost its slots and foreign bilateral rights to other airlines like Air India and IndiGo amidst diminishing chances of revival. In order for airlines from one country to operate international flights to another country, a bilateral air services agreement must be negotiated and signed between the two sides. This agreement dictates the number of flights or seats per week that can be permitted to fly from one country to the other.
GoFirst loses a suitor as EaseMyTrip's founder Nishant Pitti withdraws bid
EaseMyTrip's CEO, Nishant Pitti, announced the company's decision to withdraw its bid for airline GoFirst, citing a focus on their core strengths. This move comes after the Delhi High Court's recent order allowing lessors to deregister and repossess Go First's planes, which impacted hopes of favorable valuation for the defunct airline's creditors. Previously, Pitti's EaseMyTrip, along with SpiceJet promoter Ajay Singh, had jointly bid for Go First.
IndiGo announces foray into business class after record profit
IndiGo said that business class will be available on the busiest routes of the country which sees heavy corporate traffic and will be operational before the end of this year. Coming August, around IndiGo’s anniversary, more details on product offering, launch date and routes will be unveiled.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
Go First's creditors to auction pledged land parcel in Thane
Creditors are set to auction a prime 94-acre land parcel in Thane near Mumbai, previously collateral for loans taken by Go First Airlines. The auction process involves major creditors and potential bidders amidst evolving legal challenges and financial considerations.
Go First planes need engines, spare parts; lessors to take longer to fly them out of India
Industry experts anticipate that it will take longer for lessors to remove Go First's 54 deregistered planes from the country due to engine and spare parts requirements. The majority of these planes, stopped in May 2023, need maintenance and approvals for flight after being grounded for a year.
FirstCry CEO Supam Maheshwari saw 49% drop in monthly pay in April-December 2023
FirstCry's CEO, Supam Maheshwari, saw a 49% pay reduction to Rs 8.61 crore in FY24. Cofounder Sanket Hattimattur's pay also decreased. Maheshwari sold 6.2 million shares before the IPO.
Airbus order enough to have impact: IndiGo CEO Pieter Elbers
IndiGo's CEO Elbers announced the airline's entry into the long-haul aviation market due to strong domestic traffic. The decision includes an order for 30 Airbus A350-900 aircraft, with significant growth potential in the global market.
Indigo will get first of 30 widebody Airbus aircraft in 2027, says airline CEO Pieter Elbers
The 30-aircraft order signals Indigo's aims to expand into international routes, with Elbers saying the newly ordered planes could undertake direct flights to the USA and Europe. "We are analysing the routes, but the planes have the capabilities to reach the said destinations directly," Elbers said.
Very little left to sell in Go First with planes gone
On Friday, the high court asked the Directorate General of Civil Aviation (DGCA) to deregister and hand over all the 54 planes to lessors. It also directed the resolution professional (RP) to provide all information regarding the airline to the lessors while restraining the airline from taking away any documents or spare parts from the planes.
Go First: Busy Bee Airways says to evaluate position after reviewing court order
On Friday, the court directed the Directorate General of Civil Aviation (DGCA) to forthwith process the applications filed by several lessors for deregistration of their 54 planes so that they could take them back from the crisis-hit Go First airline. In a post on X, saying it is on behalf of Busy Bee Airways, Pitti said, "We will review the details of the order once we receive the official document".
TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'
TikTok CEO Chew optimistic in legal fight against Biden's TikTok ban. ByteDance has 270 days to sell U.S. assets. Concerns over Chinese ownership. U.S. lawmakers pass bill. Tech war between Washington and Beijing escalates.
Women voters outnumber men in 4 Odisha LS seats that go to polls on May 13
Women voters outnumber men in the four Lok Sabha constituencies in Odisha that go to polls on May 13, the first phase in the state and the fourth across the country. Briefing reporters, chief electoral officer (CEO) Nikunja Bihari Dhal said Berhampur, Koraput, Kalahandi and Nabarangpur Lok Sabha constituencies and 28 assembly seats coming under the parliamentary segments will go to polls on May 13, the nomination process for which began on Thursday.
IndiGo to fly more intl routes, destinations; aims doubling size by 2030: CEO Pieter Elbers
IndiGo aims to double its size by 2030, expanding domestic and international routes, buoyed by India's economic growth. The airline plans to introduce A321 XLR aircraft by 2025 for global expansion. Despite challenges like supply chain issues, IndiGo remains profitable, eyeing a stronger role in India's aviation ecosystem.
SpiceJet CMD Ajay Singh ups bid for Go First following banks' nudge
One of the two bidders for bankrupt airline Go First in India has raised its offer following lender encouragement, increasing the bid by 1-1.5 billion rupees from the original 16 billion rupees. The consortium, including SpiceJet's Ajay Singh and Busy Bee Airways, aims to meet creditors' expectations.
Go First CEO Kaushik Khona quits
Go First CEO Kaushik Khona has resigned from the airline after it failed to attract any bidders to revive the company, which has been grounded since May. The airline, owned by the Wadia Group, filed for voluntary bankruptcy. Jindal Power had initially expressed interest in the airline, but after the government issued a notice exempting aircraft and engines from a moratorium under the Insolvency and Bankruptcy Code, Jindal did not see value in the airline without primary assets like aircraft.
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