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...losses this year, accounting for one-fourth of the projected $9 billion in losses for the entire industry, according to the International Air Transport Association. Weighed down by overcapacity, debt and the government's refusal to provide bailouts, Indian carriers are being forced to slash their operations and reduce ticket prices. "Indian aviation is undergoing a regime change in just four years," says Kapil Kaul, chief executive officer the Center for Asia Pacific Aviation, a New Delhi-based research firm. (Read Indian business news here...

Author: /time Magazine | Title: India's Airline Industry Goes From Boom to Bust | 8/12/2009 | See Source »

...Middle East and Southeast Asia for the past five years, will configure 10 of its 57 planes for budget flights by September, says Air India managing director Arvind Jadhav. The company plans to increase the number of budget flights a day from 25 initially to 43 by October. Ticket fares will be down 25% making it attractive for fliers. The logic, says aviation minister Patel, "is to fill up seats and operate at lower costs." Unlike its parent, the profitable Air India Express operates as an independent company with lower overheads. Besides, with no business seats they will be able...

Author: /time Magazine | Title: India's Airline Industry Goes From Boom to Bust | 8/12/2009 | See Source »

...Johannesburg A Short Honeymoon for Zuma After a rousing May vote that saw scandal-plagued African National Congress leader Jacob Zuma elected President on a populist ticket, his charmed leadership has hit the rocks. With nearly 250,000 jobs eliminated in recent months, labor unions have taken to the streets to protest. Construction workers have threatened further strikes; earlier actions have already hindered projects planned for the 2010 soccer World...

Author: /time Magazine | Title: The World | 8/10/2009 | See Source »

...this ain't your night. We're going for the price on Wilson.' You remember that? 'This ain't your night'! My night!? I coulda taken Wilson apart! So what happens? He gets the title shot outdoors on the ballpark and what do I get? A one-way ticket to Palookaville! You was my brother, Charley, you shoulda looked out for me a little bit. You shoulda taken care of me just a little bit so I wouldn't have to take them dives for the short-end money." Steiger says, "Oh, I had some bets down...

Author: /time Magazine | Title: Budd Schulberg, Boss of the Brando Waterfront | 8/6/2009 | See Source »

...stepped in front of a chubby 11-year-old with glasses, braces, and a wide grin that never left his face. His grandfather spoke no English but hovered behind him and smiled toothlessly. They reminded me of Charlie and the Chocolate Factory, as they carried the golden ticket of excitement through the nonchalant reporters piled onto the top deck, and were the first to look through the telescope that was about three times the size of the kid himself...

Author: By Vidya B. Viswanathan | Title: The Revealing | 8/4/2009 | See Source »

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