Serious Fraud Investigation Office (SFIO) has been probing on Vijay Mallya's Kingfisher Airlines and Grant Thornton India regarding the 'inflated valuation' that reached over Rs 4,000 crore. The valuation came out just as the airline company is dealing with a cash crunch with previous loans considered to be non-performing assets.
Transportation
United Airlines, Union Correspond to 30% Wage Hike
United Airlines and the labor union both agreed on a 30% wage hike that will envelop the next five years. The agreement will benefit about 30,000 union employees that includes airport workers.
SpaceX Prepares to Launch Its Falcon 9 Rocket this Friday
This Friday SpaceX is ready to launch Falcon 9 rocket carrying cargo for International Space Station. NASA has also anticipated to use SpaceX and Boeing to launch astronauts by the end of 2017.
"Chariot for Women", The Uber Ride-Hailing Service for Females
Chariot for Women is a ride-hailing service where both drivers and passengers are women. The startup is behind Michael Pelletz's idea whose concern is for the safety of female drivers and passengers. The service will be launced in Boston on April 19.
Boeing to Reduce Workforce by June As Part of Cost-Cutting and Reorganization
Boeing will reduce its workforce as part of the company’s cost-cutting and reorganization effort. Although it surpassed order forecast for last year, it was offset by a huge drop in new orders. Clients would not want to wait for several years before their orders get delivered.
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Aurora Flight Sciences has been awarded a $89 million worth contract with a defense agency DARPA. The company is developing new design and technology that could enable its X-plane to do a vertical take-off, as well as hover and fly forward efficiently, potentially revolutionizing the military and commercial aviation sector.
China will try to draw up rules to regulate ride hailing service as the market has grown very big. Meanwhile Indonesia transportation minister plan to ban Uber and GrabTaxi.
The on-demand shippping company startup Shyp was selected as eBay partner. Shyp will handle packing and shipping for eBay sellers.
App-based ride-hailing service Lyft announced its new initiative with GM, a car rental program called Express Drive. Aiming to grow its base of drivers, the new program will allow drivers to apply without owning a qualifying car but renting in instead.
Amazon said on Wednesday to start its own air delivery in United States. The largest electronic retailer leased 20 Boeing 767 cargo aircraft from Air Transport Services Group Inc.
Hyperloop, a high-tech futuristic transportation system initiated by Elon Musk, is now in progress with the help of crowdsourced teams formed after Musk open-sourced its blueprint. The technology will be tested this summer at SpaceX headquarters and is expected to be operating by 2020.
An official filing revealed that Uber is facing huge loss in its international operation, as the company spent big on global expansion. The main factors of the loss are regulatory obstacles and local rivalry.
Los Angeles is the first city in the U.S. to enjoy Uber’s new service, UberEats. Uber launched the new feature as a standalone app whereas a special, food-handling-certified driver will handle food orders and delivery from hundreds of restaurants across the city.
NASA is to built quieter supersonic jet planes that will one day replace passenger jet planes. The $20 million contract was given to Lockheed Martin which will collaborate with NASA for reviving supersonic aviation feasibility studies.
