&w=3840&q=100)
Air fares surge post Ahmedabad plane crash, rampant price gouging
According to reports, nearly 41 per cent tickets have been cancelled, said Tourism and Hospitality Skill Council Chairperson Jyoti Mayal.
A travel agent mentioned that a ticket, which was priced slightly above Rs 6,000 before the accident, is now being sold for around Rs 34,000.
Mayal said that there has been a significant rise in ticket cancellations following the Ahmedabad plane accident.
Speaking to ANI, she said, "I don't want to take names, but some airlines have increased their ticket prices. This is reportedly because flights that are running full due to cancellations have seen a spike in ticket fares. According to her information, around 41 per cent of tickets have been cancelled. However, similar trends were also noticed recently in connection with Jammu and Kashmir."
She further mentioned that they are receiving queries from people asking whether the prices of exit row seats will now increase.
"I would like to clarify that there is no such information yet suggesting that the fares for exit row seats have increased. She said that it is certain that most people are now demanding seats in the exit row. She also pointed out that travel agents have suffered significant losses in recent days. Whenever any adverse situation arises, the travel trade is the first to be affected," she told ANI.
Roopak Punyani, owner of Delhi-based travel company Travel Canvas India Private Limited, said that apart from the overall global situation and recent tensions between India and Pakistan, the Ahmedabad accident has had a serious negative impact. Cancellations are mainly coming from the corporate sector.
Most people are now ensuring that they avoid flying in Boeing aircraft, he said. While he did not directly say that this has caused a rise in ticket prices, he noted that direct flights from certain locations are no longer operating. As a result, passengers are having to pay higher fares due to having to travel on connecting flights.
Saurabh Tiwari, a travel agent at Sushant Travels, Delhi, said that they are receiving a large number of flight ticket cancellation requests. Passengers are quite scared. Some travellers are even converting their air travel plans into train journeys, causing them significant inconvenience and loss.
He also mentioned that cancellations have impacted ticket prices, leading to a surge. For example, a flight from Delhi to Dhaka, which used to cost around Rs 7,000 to Rs 9,000, is now priced between Rs 30,000 to Rs 34,000. According to him, airline companies have increased ticket fares, and this change is being seen due to the cancellation of Air India flights following the Ahmedabad plane accident.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hans India
12 minutes ago
- Hans India
SBI to file CBI complaint after tagging RCom, Anil Ambani as ‘Fraud': MoS Pankaj Chaudhary
New Delhi: Minister of State for Finance, Pankaj Chaudhary, stated in Parliament that the State Bank of India (SBI) has classified Reliance Communications Limited (RCOM), along with Promoter Director Anil D. Ambani, as 'Fraud' in accordance with the Reserve Bank of India's Master Directions on Fraud Risk Management and the bank's board-approved policy on Classification, Reporting & Management of Frauds. The bank is now in the process of filing a complaint with the Central Bureau of Investigation (CBI), the minister informed. 'On June 24, 2025 the bank has reported the classification of fraud to the RBI, and is also in the process of lodging a complaint with the CBI, the minister said in a written reply to a question in the Lok Sabha. Further, on July 1, 2025, as part of disclosure compliance, the Resolution Professional of RCOM has informed the Bombay Stock Exchange regarding fraud classification by the bank, the minister said in a written reply. 'The credit exposure by SBI in the aforesaid account includes, fund based – principal outstanding amount of Rs. 2,227.64 crore along with the accrued interest and expenses with effect from August 26, 2016 and non-fund based Bank Guarantee of Rs. 786.52 crore,' the minister revealed. RCOM is undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 (IBC). The resolution plan was approved by the Committee of Creditors and filed with the National Company Law Tribunal (NCLT), Mumbai on March 6, 2020, and NCLT approval is awaited, Chaudhary further stated. The bank has also initiated Personal Insolvency Resolution Process under IBC against Anil Ambani and the same is being heard by NCLT, Mumbai, he added. The Bank had earlier classified the account and promoters Anil D Ambani as 'Fraud' on Nov 10, 2020 and filed a complaint with the Central Bureau of Investigation (CBI) on Jan 5, 2021. However, the complaint was returned in view of the "status quo" order dated Jan 6, 2021 by the Delhi High Court, the minister further stated. Meanwhile, the Supreme Court Judgement dated March 27,.2023 in Civil Appeal No. 7300-7307 of 2022 (State Bank of India & Others Vs Rajesh Agarwal & Others) mandated that lenders provide borrowers with an opportunity to represent before classifying their accounts as fraud. Accordingly, the fraud classification in the account was reversed by the bank on September 2, 2023, he explained. The fraud classification process was re-run, and the account was again classified as 'Fraud' after following the due process as per RBI circular dated July 15, 2024, the minister added.
&w=3840&q=100)

First Post
12 minutes ago
- First Post
How a weak password destroyed a 158-year-old UK company and left 700 people jobless
KNP Logistics, one of Britain's oldest companies, collapsed after a ransomware attack exploited a weak password and hacked into its internal network. The gang of hackers, known as Akira, demanded a ransom of 5 million pounds (Rs 58 crore), which the firm couldn't pay. The transport company eventually filed for bankruptcy, leaving as many as 700 employees jobless overnight read more A gang of hackers, known as Akira, accessed the company's complete network by cracking a weak employee password and then reportedly demanded a ransome for decryption key. Image for Representation. A simple, easy-to-guess password has led to the downfall of one of Britain's oldest companies, leaving more than 700 people without jobs. KNP Logistics, a 158-year-old transportation firm, collapsed after falling victim to a ransomware attack that locked them out of their own systems. According to the BBC, hackers are believed to have accessed the company's complete network by cracking a weak employee password. Once inside, they encrypted data, froze the company's operations and asked for a huge ransom. And just like that, a company that had been around for over a century and a half was gone. STORY CONTINUES BELOW THIS AD This is not a one-off. The UK has been seeing a surge in similar attacks, and if things continue this way, authorities say this could be the worst year yet for ransomware in the country. So how exactly did this happen? And why are so many companies getting hit? Here's a closer look. How a weak password brought down the firm Back in 2023, KNP was running a fleet of 500 lorries — most of them under the well-known brand, Knights of Old. On paper, everything seemed in place. The company said its IT systems followed industry standards, and it even had cyber insurance in case of an attack. But a gang of hackers, known as Akira, got into the system, leaving staff incapable to access any of the data needed to run their business. To regain access, the hackers demanded a ransom payment in exchange for the decryption key. 'If you're reading this it means the internal infrastructure of your company is fully or partially dead…Let's keep all the tears and resentment to ourselves and try to build a constructive dialogue,' read the ransom note. A hooded man holds a laptop computer as blue screen with an exclamation mark is projected on him in this illustration picture taken on May 13, 2017. Representational Image/Reuters The hackers didn't name a price, but a specialist ransomware negotiation firm estimated the sum could be as much as 5 million pounds (Rs 58 crore). KNP didn't have that kind of money. STORY CONTINUES BELOW THIS AD In the end all the data was lost, and the company had no other option but to file for insolvency. In a surprising admission to the BBC, KNP director Paul Abbott revealed he never told the employee that their password may have led to the company's collapse. 'Would you want to know if it was you?' he said. Cyberattacks on the rise in the UK Stories like KNP's are more commonplace than you might realise. Recently, prominent UK companies, such as M&S, Co-op, and Harrods, have also fallen victim to similar attacks. In Co-op's case, the data of 6.5 million members was stolen. At M&S, hackers simply tricked IT staff by pretending to be someone they weren't. This tactic, known as blagging or pretexting, works when a hacker creates a fake backstory, builds trust, and slowly talks their way into gaining access. And that's really all it takes. 'They're just constantly finding organisations on a bad day and taking advantage,' one cyber team member from the National Cyber Security Centre (NCSC) told the BBC. 'This is organised crime,' added Paul Cashmore, a cyber expert brought in by KNP's insurers. 'There's very little progress in catching these people — but the impact is devastating.' STORY CONTINUES BELOW THIS AD And the numbers are only climbing. Suzanne Grimmer from the National Crime Agency (NCA) says ransomware attacks have nearly doubled in the past two years. 'If it continues, I predict it's going to be the worst year on record for ransomware attacks in the UK,' Grimmer added. Young gamers are turning to cybercrime Inside Government Communications Headquarters (GCHQ), where some of Britain's best cyber officers work to prevent online threats, they say cyber attacks are a growing concern. The number of cases has now up to 35–40 incidents a week, according to Grimmer. Part of the problem? Hacking is getting easier. 'You no longer need advanced tech skills to pull off a cyberattack,' Grimmer told the BBC. All it takes is a few online tools — many of them bought easily on the dark web. What's even more worrying is where the next wave of hackers is coming from. James Babbage, Director General (Threats) at the NCA, says young gamers are turning to cybercrime, often starting by using their skills to con helpdesks or customer support staff into giving access to internal systems. Once they're in, they deploy ransomware tools and shut everything down. 'It's a national security threat in its own right,' Babbage said. STORY CONTINUES BELOW THIS AD According to the UK government's cyber-security survey, there were an estimated 19,000 ransomware attacks on local businesses last year. The average ransom is around four million pounds (Rs 46 crore), and around one in three companies simply pay up to keep the ship afloat. Earlier this year, the National Audit Office warned that the cyber threat to the UK is severe and evolving fast. New government proposals suggest that public bodies could soon be banned from paying ransoms, while private firms may need to report attacks and seek permission before paying. 'Every victim needs to make their own choice,' Babbage said. 'But it's the ransom payments that are keeping this industry alive.' Back in Northamptonshire, KNP's boss Paul Abbott is now using his story as a warning. He gives talks urging businesses to tighten their defences and calls for companies to undergo mandatory checks — something like a regular 'cyber-MOT.' 'There need to be rules,' he told the BBC, 'that make you much more resilient to criminal activity.' With input from agencies
&w=3840&q=100)

Business Standard
12 minutes ago
- Business Standard
From lock-ins to rent hikes: Rental clauses that can trip up tenants
Many tenants sign rental agreements in India without reading the fine print, only to regret it later. Legal experts say certain overlooked clauses can leave you saddled with unexpected costs, legal disputes, or even force you to stay in a property longer than planned. Here's a guide to the most critical provisions and what they mean for you. Why does the fine print matter? 'Tenants often miss crucial clauses like the lock-in period, rent escalation, and maintenance responsibilities. Later, these become grounds for hefty penalties or disputes,' said Rohit Jain, managing partner at law firm Singhania & Co. For example, if you're bound by a 12-month lock-in clause but vacate in six months due to a job transfer, the landlord can demand rent for the remaining six months or forfeit your entire security deposit. 'We've handled cases where tenants were asked to pay Rs 150,000 (six months' rent) after moving out early,' he adds. Security deposits and rent hikes: Know the rules Security deposit deductions are another flashpoint. 'Tenants don't realise vague terms like 'beyond normal wear and tear' allow landlords wide discretion,' says Ashutosh Srivastava, partner at SKV Law Offices. For example, you pay a Rs 50,000 deposit on a flat with Rs 25,000 monthly rent. At move-out, the landlord deducts Rs 10,000 for painting, Rs 5,000 for cleaning, and Rs 3,000 for minor repairs, even without major damages, leaving you just Rs 32,000. 'Unless the agreement specifies acceptable deductions, tenants can't contest such claims easily,' Srivastava explains. Rent escalation clauses also deserve scrutiny. 'A 10 per cent annual hike means Rs 25,000 rent becomes Rs 30,250 by year three, something tenants often don't budget for,' notes Jain. Tricky clauses to watch out for Landlords sometimes include restrictive terms that tilt the balance. Lock-in period: This traps tenants into staying or paying penalties. 'We've seen people pay 3 months' rent, Rs 75,000, after vacating early due to job transfers,' says Gaurav K Singh, founder & chairman of Womeki Group. Subletting bans: Hosting friends or family, even temporarily, could breach the agreement unless expressly permitted. Broad maintenance obligations: Tenants are sometimes made responsible for structural repairs or society charges, which are legally the landlord's duty unless agreed otherwise, Singh adds. What if the landlord enforces unfair clauses? If landlords impose unfair penalties, tenants have remedies under Indian law. 'Unconscionable or one-sided clauses can be challenged in court. For instance, a Bengaluru tenant recovered Rs 70,000 of her Rs 100,000 deposit after legal notice, despite the landlord citing vague 'repair charges',' says Jain. Aarya Bhat, advocate at Delhi High Court, cautions. 'Courts may reject challenges if agreements were signed without proper scrutiny. So it's better to get the agreement vetted before signing.' Understanding key terms in rental agreements Here's a quick explainer of common technical terms: Lock-in period: The minimum time both tenant and landlord are bound by the lease. Breaking it early often triggers penalties. Notice period: The time either party must give before ending the lease (e.g., 2 months). Force majeure: Covers unforeseen events like natural disasters that could make the property uninhabitable. Maintenance & repairs: Specifies who handles upkeep, tenant or landlord. Subletting clause: States whether you can rent out part of the property or host others. Termination clause: Details how and when the lease can be ended by either side. Indemnity clause: A legal safeguard requiring one party to compensate the other for losses caused by breaches. The bottom line 'Tenants must not treat rental agreements as mere formalities,' Srivastava advises. Spending a little time and money on legal vetting could save thousands later.