There has been a steady improvement in tourist arrivals in recent months, minimising the sharp decline that was visible earlier. In October 2009, tourist arrivals dipped by just 0.9% to 4.48 lakh numbers. This is much better than the 4.1% decline in September and 8.6% in August. Typically, the next few months will be the peak season for foreign tourist arrivals and a good season will bring relief to the tourism and travel industry.
Aviation
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Private airlines call off strike
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Private airlines called off their proposed strike on August 18. The Federation of Indian Airlines made no mention on its website of the strike or it being called off. A Reuters report quoted a statement by FIA saying that the airlines were calling off the strike as the government had asked them to come for talks. Continue Reading →
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Kingfisher Airlines seeks higher corporate guarantees from UB Holdings
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United Breweries Holdings is seeking shareholder to increase its exposure, in the form of financial guarantees and security, to Kingfisher Airlines from Rs 7,500 crore to Rs 12,000 crore.