Travel Sector

Railway Minister Kharge announces 72 new trains

Railway Minister Kharge announces 72 new trains

As had been expected Railway Minister Mallikarjun Kharge introduced a number of new Premium, Express and Passenger trains in the Rail Budget 2014 on Wednesday.

Kharge introduced 17 Premium trains, 38 Express trains, 10 Passenger trains, 4 MEMU and 3 DEMU. In total, he introduced 72 new trains. He also announced that three trains would be extended, while the frequency of three trains would be increased

Tourism Industry Witnessing Growth in Foreign Tourist Arrivals: Chiranjeevi

Tourism Industry Witnessing Growth in Foreign Tourist Arrivals: Chiranjeevi

Though there have been a number of unfavourable incidents with foreign tourists in the nation, tourism minister K Chiranjeevi has given a good news about the tourist industry. The minister said that the number of foreign tourist arrivals in the nation grew by 2% in the first two months of the year 2013.

"I would like to place on record that the growth of foreign tourist arrivals to India in January and February, 2013 has been positive and not negative as reported", said Chiranjeevi.

Tourism Ministry proposes VoA for tourists from 16 more countries

Tourism Ministry proposes VoA for tourists from 16 more countries

India's Tourism Ministry is actively considering proposal to grant visa-on-arrival (VoA) to tourists from a number of countries, including Germany, Russia and France, K. Chiranjeevi said on Wednesday.

Mr. Chiranjeevi, minister of state with independent charge for tourism, said that his ministry had requested the government to grant of VoA for sixteen more countries in order to give a big boost to foreign tourist arrivals in India.

The minister was speaking at the opening ceremony of India pavilion at the International Tourism Bourse in Berlin.

Thomas Cook names new CFO

Thomas Cook names new CFO

Thomas Cook Plc, the world's oldest travel group, has named ex-Kwik Fit finance director Michael Healy as a replacement for departing chief financial officer Paul Hollingworth.

Mr. Healy will joint the debt-laden tour operator on 1st of July, following the departure of Hollingworth at the end of June. Prior to working at Kwik Fit, Mr. Healy worked at Hong Kong-listed First as chief operating officer.

Hollingworth has been working with Thomas Cook for the last two years. He recently helped the company hit third refinancing deal worth 1.4 billion pounds in the last twelve months.

Mangalore busses to be fitted with GPS

Mangalore busses to be fitted with GPS

The District Regional Transport Authority has decided to fit all the City, mofussil and express buses in the Mangalore city and larger Dakshina Kannada district with the GPS -Global Positioning System to bring order in the transport.

Commuters complain that bus operators in competition with other drive rash in order to gain more passengers. The GPS systems are expected to be in place by the end of this month. The decision was taken at a meeting of DK district administration and bus operators associations last week.

Cox and Kings to raise Rs. 2,000 crore

Cox and Kings to raise Rs. 2,000 crore

Leading travel firm Cox and Kings (India) has announced that it is going to raise Rs. 2,000 crore in near future. It may follow a mix of equity and debt to raise the fund.

The company is looking forward to fund its expansion plans and acquisitions by such fund rise only. However, Cox and Kings (India) is yet to receive the approval from its shareholders. This fact has been revealed by Chief Financial Officer of Cox and Kings, Mr. Anil Khandelwal.

Cox & Kings plans Rs. 2,000-crore acquisition war-chest news

Anil Khandelwal

One of India's oldest travel-related company and also one of the biggest, Cox and King has said that it is looking forward to raise Rs. 2,000 crore. As of now, the company is waiting for the shareholders' nod regarding the same.

The money will be a combination of both debt and equity and will be raised from the domestic as well as overseas sources. It will then be used yo finance the acquisitions of the company.

Cox and Kings feels that this is the right time for the move since the travel industry is now coming out of the shambles because of the recovery phase.

Cox and Kings (India) net income up by 39%

Cox and Kings (India) net income up by 39%

Travel Company, Cox and Kings (India) has announced its year-end financial results for the fiscal year 2009-10 and it has registered an impressive rise in its net profit and consolidated income. The company has informed that the net profit was Rs 133.84 crore for the year that ended in 31st March, 2010.

The consolidated net profit was reported to be Rs 62.81 crore for the financial year 2008-09. This net profit figure has rose by 113% in this year as compared to the last fiscal. This has been informed by Cox and Kings
(India) in a press release.

Ticketvala.com Taken Over by MakeMyTrip

Ticketvala.com Taken Over by MakeMyTripMakeMyTrip, India's Gurgaon based online travel agent, has officially announced the acquisition of Ticketvala. com, the online bus tickets firm, which is owned and operated by Travis Internet Pvt. Ltd.

Under the deal, MMT has taken over strategic assets from Ticketvala, which include the website, URL, the technology platform agent network, in addition to the bus inventory.

Cox & Kings’ shares outperform the share markets

Cox & Kings’ shares outperform the share marketsCox & Kings India, a tour and travel company with operations in India and UK, has managed decent run during debut on the stocks exchange. The company's shares increased by 30 per cent to close at Rs. 426.05, on the Bombay Stock Exchange as compared to IPO price of Rs. 330.

The performance was good at NSE as well, where the stock closed at Rs. 430 after registering decent volume.