Category Archives: Associations

Delhi HC refuses MMT’s stay appeal against NCLAT order to deposit penalty: FHRAI

Jaison Chacko, Secretary General, Federation of Hotel and Restaurant Associations of India (FHRAI), has revealed that the Delhi High Court has dismissed the writ petition filed by MakeMyTrip (MMT) challenging the order passed by the Ld. NCLAT to deposit 10 per cent penalty amount for entertaining the appeal against the Competition Commission of India (CCI’s) order.

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Airlines expected to register small $4.7 bn profit in 2023 after $6.9 bn loss in 2022

International Air Transport Association (IATA) has revealed that in 2023, airlines are expected to post a small net profit of $4.7 billion—a 0.6% net profit margin. It is the first profit since 2019 when industry net profits were $26.4 billion (3.1% net profit margin). In 2022, airline net losses are expected to be $6.9 billion.

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UP chief minister to inaugurate IATO convention; venue changed

Rajiv Mehra, President, IATO, has informed that the venue of the inauguration of IATO convention has been shifted from Indira Gandhi Pratishthan to Centrum Hotel in Lucknow. The date and time will remain the same, 1.e. 16 December at 5pm, and it will be inaugurated by the CM. The inauguration of the IATO Travel Mart will also happen on 16 December at 7pm, instead of 17 December 10 pm.   

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FHRAI requests FM for infra status, enhancement of loan repayment period under ECLGS

Delegates of FHRAI attended a pre-budget meeting chaired by the FM where it put forth requests with special emphasis on granting infrastructure status to the hospitality industry. FHRAI has also requested for continuation of the Export Promotion Capital Goods Scheme (EPCGS) for another 10 years and extension on the repayment period under the Emergency Credit Line Guarantee Scheme (ECLGS) of 10 years or based on the loan repayment period of the principal loan. FHRAI will submit a detailed representation to the FM shortly.

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OTOAI’s office bearers elected unopposed, new team for 2022-24 to be declared today

Outbound Tour Operators Association of India (OTOAI) will be announcing its new team today for the term 2022-24. The existing team will be taking over unopposed and some shuffle in positions is expected. Currently, Riaz Munshi is President, Himanshu Patil is Vice President, Shravan Bhalla is Gen. Secretary and Siddharth Khanna is Treasurer.

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New markets needed for business, convention platform to discuss matter: Ravi Gosain

Ravi Gosain, Vice President, IATO said, “Many of us are concerned about what will happen in the future, things have changed, products have changed, and many of the FTOs with whom we do business are no longer in business. As a result, we must create new markets for ourselves. So, these are the few things we will discuss during the Convention, which is why we have specifically chosen this theme, inbound tourism what lies ahead.” 

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