AAI starts yearlong study to improve future slot allotment at 6 major

first_imgNew Delhi: The Airport Authority of India (AAI) has started a year-long study to analyse air traffic, slot distribution and infrastructure at six major airports Hyderabad, Bengaluru, Delhi, Mumbai, Chennai and Kolkata in order to improve the mechanism of slot allotment, said its senior officials. A slot is a specific date and time at which an airline can arrive or depart at an airport. It is allocated by a committee that comprises officials from the respective airport, aviation ministry, AAI, airlines, aviation regular DGCA, etc. Also Read – Maruti cuts production for 8th straight month in SepAfter one year, the results of this year-long study will be presented back to the DGCA and the ministry to take a call on how to improve slot allotment in the next year…We will take help of the central ATFM (air traffic flow management) in this year-long study, a senior AAI official said. The AAI owns and manages more than 100 airports across the country. Recently, when Jet Airways temporarily shut down its operations on April 17, a tussle had erupted among the other airline companies in India to corner most of the Jet’s vacated slots, especially the ones at congested airports of Bengaluru, Delhi and Mumbai. Also Read – Ensure strict implementation on ban of import of e-cigarettes: revenue to CustomsThe fight for slots had erupted as there is no written mechanism in India to allocate slots if an airline in this case it was Jet Airways – temporarily shuts down its operations. Another senior AAI official said, “Six major airports Hyderabad, Bengaluru, Delhi, Mumbai, Kolkata and Chennai – have been identified where the analysis needs to take place. This exercise has been started in the month of May this year, and it will continue till March 2020. We have been asked to study all aspects air traffic, slot availability and its allotment, infrastructure availability and its future requirement, etc. so that slot distribution mechanism can improve from next year onward, the official added. The official said the AAI is doing one year of analysis as the flight schedule changes every six months. “This happens due to summer season and winter season. The wind keeps changing. That is the reason why airlines also keep asking for different slots in these two seasons, the official said.last_img read more

Retailers results show sharp divide between losers winners

NEW YORK — The divide between retail winners and losers is widening.That became even more evident Wednesday with the latest batch of earnings reports: Big-box stores and off-price retailers have been responding faster to shoppers’ increasing shift online with expanded deliveries and better merchandise. But many mall-based clothing chains and department stores continue to suffer weak sales as they struggle to lure in shoppers.“There is an increasing polarization in retail,” said Neil Saunders, managing director at GlobalData Retail. “It’s a vicious cycle, and it’s difficult to pull out of the tail spin.”In fact, for the first two fiscal quarters of this year, earnings at off-mall retailers rose 3%, compared with a drop of 29% for mall-based retailers, according to Retail Metrics, a retail research firm, which analyzed results at 105 retailers.On Wednesday, Target raised its annual earnings guidance after reporting strong sales and traffic. It was helped by its same-day delivery services, as well as a strong lineup of homegrown brands. Lowe’s, the nation’s second largest home improvement retailer behind Home Depot, blew past Wall Street’s second-quarter earnings expectations, buoyed by strong demand for spring goods and sales to contractors.Both companies’ stocks soared.Earlier this week, Home Depot handily beat second-quarter profit expectations, while Walmart raised its outlook for the year last week and off price chains like T.J. Maxx are also faring well, resonating with shoppers who love to treasure hunt.But many clothing chains and department stores haven’t differentiated their merchandise enough, and now discounters are further squeezing them by pushing into more affordable trendy fashions, retail industry analysts say.Last week, Macy’s lowered its annual earnings guidance after its earnings suffered in the second quarter as it slashed prices on unsold merchandise. J.C. Penney’s is in worst shape. It posted another quarter of sales declines. Kohl’s shares, meanwhile, fell Tuesday after posting a sales decline though business improved later in the quarter.Upscale department store Nordstrom trimmed its earnings and sales outlook for the current fiscal year late Wednesday after it reported profit and sales declines in the second quarter. Sales at its full-priced stores dropped 6.5%. The results show that it hasn’t been able to escape the woes of traditional malls, even as it has been testing small stores that don’t stock any clothes and expanding its online services.Saunders and other analysts say that they started to see a clear divide between retail’s winners and losers four or five years ago, but that gap has gotten more pronounced because of a combination of factors. For several years, a strong economy provided tail winds to retailers of all stripes, and last year’s tax cuts gave merchants a nice sugar high. But as the economy starts developing some cracks, vulnerable retailers will become even more exposed.Analysts also say that the shift to online shopping keeps accelerating, giving a big advantage to retailers like Target and Walmart who’ve been able to invest billions of dollars in online deliveries and in their stores. Some mall-based retailers are now looking at other ways to bring in shoppers, including subscription rental services and carving out areas to sell second-hand clothes.But for some, it may be a case of too little, too late.“In a world where consumers have more choices than ever, inferior brick-and-mortar experiences will go away,” said John Mulligan, Target’s chief operating officer Wednesday.Target’s comparable store sales, which include online sales, rose 3.4 % as customer traffic jumped 2.4%. Online sales soared 34%. The Minneapolis company raised profit expectations for the year, sending its shares up $17.47, or 20.4%, to close at $103.Shares in Lowe’s Co., which is based in Mooresville, North Carolina, ended up $10.13, or 10.4%, at $108.Still, it is an uncertain time for even surging retailers like Target.The Trump administration has imposed a 25% tariff on $250 billion in Chinese imports. A pending 10% tariff on another $300 billion in goods would hit everything from toys to clothing and shoes that China ships to the United States.And it appears the retailers that have been winning all along will be the ones to better navigate the tariff storms.Target’s CEO Brian Cornell told analysts that while the trade wars present an additional layer of uncertainty and complexity, he pointed to the company’s diverse assortment, deep expertise in global sourcing and sophisticated set of manufacturing partners around the world.Meanwhile, Macy’s said last week that its shoppers don’t have an appetite for higher prices in a ballooning U.S. trade war with China. The department store was forced to raise prices on some luggage, housewares and furniture to offset the costs of a 25% tariff implemented in May. Macy’s vowed not to increase prices as a result of the 10% tariff, but CEO Jeff Gennette said the company will be speaking with vendors about ways to offset rising costs if the trade war escalates._____Follow Anne D’Innocenzio on Twitter .___This story has been updated to correctly identify the Target executive quoted in reference to brick-and-mortar stores. It is Chief Operating Officer John Mulligan, not CEO Brian Cornell.Anne D’Innocenzio, The Associated Press read more