Connect with us

Business

Seeking peak summer travel demand Air India adds more flights to Dubai

Published

on

Air India, Jet Airways, Summer Holidays, Delhi-Dubai, Mumbai-Dubai, Delhi-Mumbai, India Dubai, Domestic flights, International flights, India cities, Business news

New Delhi: Seeking to fill the void created by Jet Airways’ suspension of operations and peak summer travel demand, state-run Air India has added capacity on the busy Delhi-Dubai, Mumbai-Dubai and Delhi-Mumbai sectors.

 

Air India, Jet Airways, Summer Holidays, Delhi-Dubai, Mumbai-Dubai, Delhi-Mumbai, India Dubai, Domestic flights, International flights, India cities, Business news

 

India-Dubai is considered one of the most lucrative sectors as demand is always very high on the route due to high business as well as leisure travel. About half a dozen local and domestic carriers connect 20 Indian cities with the city-state.

The new flights would be launched in the first week of June using B787 airplanes. Bookings of all the new flights have started.

 

Air India to add more flights to Dubai from early June keeping summer demand:

 

“The flights to Dubai would be started utilizing the additional overseas flying rights by the government recently,” said an official.

 

Air India, Jet Airways, Summer Holidays, Delhi-Dubai, Mumbai-Dubai, Delhi-Mumbai, India Dubai, Domestic flights, International flights, India cities, Business news

 

Preferring Air India over the private carriers, the civil aviation ministry earlier this week decided to allot about 5,700 weekly seats to the airline out of grounded Jet Airways’ unused quota on the lucrative India-Dubai route. The public sector airline was also promised over 5,000 seats on India-Qatar route besides about 4,600 additional seats to and from London.

Air India currently has 13.1 per cent market share in the domestic market. It carried 15.19 lakh passengers in the month of March this year.

 

Business

Zomato acquires UberEats India for nearly Rs 2,500 crore

Published

on

By

New Delhi: Zomato on Tuesday announced that it has acquired Uber’s Food Delivery Business in India in an all-stock deal and Uber will have 9.99 per cent stake in the Deepinder Goyal-led food delivery platform.

According to sources close to the deal, it is in the range of over $350 million or nearly Rs 2,500 crore.

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective from Tuesday.

“We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category,” said Goyal, Founder and CEO, Zomato.

According to company sources, for the first three quarters of 2019, “our Uber Eats business comprised 3 per cent of our global Eats gross bookings, but was more than 25 per cent of our global Eats Segment Adjusted EBITDA losses”.

Uber started its food delivery service in India around mid-2017, but has not been able to scale up in the face of big players like Zomato and Swiggy.

It currently has nearly 26,000 restuarants listed on its platform from over 40 cities.

The market is piping hot as according to a recent study by business consultancy firm Market Research Future, the online food ordering market in India is likely to grow at over 16 per cent annually to touch $17.02 billion by 2023.

Uber CEO Dara Khosrowshahi said that the Uber Eats team in India has achieved an incredible amount over the last two years.

“India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader,” said Khosrowshahi.

“We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success,” he added.

On January 10, Zomato had announced that it has secured $150 million in fresh funding from Ant Financial, a subsidiary of China-based giant Alibaba.

The latest round of funding in Zomato, which currently value the company at $3 billion, is part of $600 million funding round announced by Zomato CEO Goyal at a Delhi event last December.

The deal comes in the wake of merger talks between Zomato and Swiggy, whoch both the companies have denied to date.

Continue Reading

Trending