Airlines waive off rescheduling, no-show charges amid Bharat Bandh

Agencies

December 8, 2020

New Delhi, Dec 8: In a relief for flyers, airlines have waived-off cancellation, rescheduling charges for passengers, who could not report for their flights amid the traffic disruption caused due to 'Bharat Bandh' on Tuesday.

The farmers from Punjab, Haryana and western Uttar Pradesh, who have been agitating over the legislations, which they describe as "black laws" has been at Delhi's borders since November 26 and gave call for the nationwide shutdown.

Besides the bandh, there is also a call for no vehicular movement -- Chakka Jaam -- across the nation from 11 a.m. to 3 p.m.

"For passengers who are unable to reach the Airport due to possible disturbance on 8th Dec'20, no-show charges will be waived and one free date change allowed for those with confirmed tickets for travel on 8th Dec'20 from any Indian Airport," the national carrier said in a tweet.

According to airline major IndiGo: "In the wake of Bharat Bandh across the country, we are offering waivers in change or cancellation fee (fare difference applicable) for travel scheduled today i.e. 8th Dec 2020, to and from all domestic stations."

"However, waivers will be given case on case basis only and as per the impact at the station. We are continuously monitoring the situation and will share further update in case of an extension."

Besides, operations at major airports were unaffected.

Operations at the Delhi airport ran smoothly with flights being operated on schedule.

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Adani Group in Crisis: $30 Billion Wiped Out after US Bribery and Fraud Charges Emerge

News Network

November 21,2024

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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