Turkish Airlines and IndiGo resumed their

 Turkish Airlines and IndiGo resumed their existing codeshare partnership

IndiGo, India’s largest airline, and Turkish Airline, the national flag carrier airline of Türkiye, have resumed their codeshare flights and partnership by opening the sale earlier this month. Scheduled operations will be restarted in a phased manner with the first flight effective yesterday. The codeshare is considered as Bilateral Free Flow Codeshare wherein both the airlines will place its code on another’s flights. The agreement will enable both the carriers to provide more flexibility of choice to the customers on sectors between India and Istanbul, amongst others.

In the 1st phase, both the airlines are open for sale, with Turkish Airlines as the marketing carrier, and IndiGo as the operating carrier. Turkish Airlines will be placing its code on trunk route flights operated by 6E on the Delhi-Istanbul route and later from six domestic destinations in India including Ahmedabad, Amritsar, Bengaluru, Chennai, Mumbai and Kolkata.

Mr. Ronojoy Dutta, Wholetime Director and Chief Executive Officer, IndiGo said, “We are pleased to resume our strategic partnership with Turkish Airlines to offer more options to our passengers. Owing to the recovery of overall aviation industry, this agreement will extend our on-time, affordable, courteous, and hassle-free travel experience by expanding the choices available to our customers for journeys beyond Istanbul, using Turkish Airlines’ extensive network through a dozen destinations covered by our agreement.”

Mr. Bilal Ekşi, Chief Executive Officer Turkish Airlines, said, “After witnessing two tough years of pandemic, airline industry is now in the new period which will enable us to recover and improve partnerships. In this new era, every cooperation has become more important for each airline.  We are very happy to see that as Turkish Airlines and IndiGo, we reactivated our codeshare cooperation by resumption of our flights between Turkiye and India. I am glad to announce that our passengers will continue to experience better connections by this opportunity.” 

Currently, Turkish Airlines operates a daily flight on Delhi-Istanbul and Mumbai-Istanbul routes, whereas IndiGo operates a daily flight on Delhi-Istanbul route and is also planning to add a second frequency from August 2022. This codeshare between the two airlines provide customers with the convenience of purchasing connecting flights using one reservation, and a smooth ticketing, check-in, boarding and baggage check experience during the entire journey.

Flipkart enters into Strategic Partnership with Adani Group to

Flipkart enters into Strategic Partnership with Adani Group to Strengthen Logistics and Data Centre Capabilities

 

●       New fulfilment centre spread across 5.34 lakh sq. ft. to be opened in Mumbai

●       Data Centre to be established at AdaniConneX’s Chennai facility

●       Partnership to create ~2,500 direct jobs and thousands of indirect jobs

 

Flipkart, India’s leading homegrown e-commerce marketplace, today announced a strategic and commercial partnership with the Adani Group, India’s largest multinational infrastructure company. In this two-pronged partnership, Flipkart will work with Adani Logistics Limited, the largest diversified end-to-end logistics service provider in the country and a wholly owned subsidiary of Adani Ports & Special Economic Zone Limited, to strengthen Flipkart’s supply chain infrastructure and further enhance its ability to serve its rapidly growing base of customers. In addition, Flipkart will set up its third data centre at Adaniconnex Private Limited Chennai based facility, leveraging AdaniConneX’s world-class expertise and industry-leading data centre technology solutions. Adaniconnex Private Limited is a new Joint Venture formed between EdgeConneX and Adani Enterprises Limited.

 

As part of this partnership, Adani Logistics Limited will construct a massive 534,000 sq. ft. fulfilment centre in its upcoming logistics hub in Mumbai that will be leased to Flipkart to address the growing demand for e-commerce in Western India and support market access of several thousands of sellers and MSMEs in the region. Leveraging state-of-the-art technologies, the centre is expected to be operational in Q3 2022 and will have the capacity to house 10 million units of sellers’ inventory at any point. In addition to strengthening Flipkart’s supply chain infrastructure to support MSMEs and sellers, the facility will enhance local employment and create ~2,500 direct jobs and thousands of indirect jobs.

 

The other prong of the partnership will see Flipkart developing its third data centre at the AdaniConnecX facility as a part of one of the largest private cloud deployments in the country, thereby further strengthening its growing marketplace e-commerce business in India. The data centre has been designed to meet the highest standards in reliability, security, and sustainability, which will capitalise on the Adani Group’s capability as the largest solar player in the country to generate and source green power. The AdaniConneX data centre is a brand-new facility enabling Flipkart to design the data centre to its growing infrastructure needs with a significant focus on security and keeping data locally within India.

 

Speaking on the strategic partnership between the two companies, Karan Adani, Chief Executive Officer of Adani Ports and Special Economic Zone (APSEZ) said, “I am delighted to see two of India’s fastest-growing businesses come together to help build some of the most critical as well as state-of-the-art infrastructure that our nation needs. This is what Atmanirbharta should be all about. This broad-ranging partnership across our logistics and data centre businesses is a unique business model, and we see this as a great opportunity to serve Flipkart’s physical as well as digital infrastructure needs. Flipkart has been instrumental in defining e-commerce adoption in India, both through the value it creates and its constant technological innovation to serve its consumers. We look forward to a long and fruitful partnership as we focus on learning from each other as well as leveraging our mutual strengths to prioritise consumers and development of India’s MSME ecosystem.”

 

Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “The Adani Group is unmatched in the way it has gone about building infrastructure across India. What it brought to us was a unique combination of logistics, real estate, green energy, and data centre infrastructure capabilities. We are delighted to initiate our association with the Adani Group to strengthen our supply chain and technology infrastructure. At the Flipkart Group, we are focused on ensuring that our customers get access to a wide range of products made available by sellers across the country as we continuously innovate to drive greater affordability. Our logistics network and technology stack are instrumental in making this a reality. These investments will help us strengthen our presence and capabilities in India to support MSMEs and sellers while also accelerating job creation and growth.”

 

Flipkart Group and Arvind Fashions Strengthen

Flipkart Group and Arvind Fashions Strengthen Partnership

Focus on addressing the needs of the fashion-conscious Indian youth

The Flipkart Group and Arvind Fashions (AFL) today strengthened their partnership, through an investment of INR 260 crore by the Flipkart Group to purchase a significant minority stake in AFL's recently formed subsidiary Arvind Youth Brands which owns the Flying Machine brand. This investment builds on the long-standing engagement between the two organizations that have been working together for several years to address the demands and needs of the fashion-conscious youth in India.

An iconic Indian brand with a 40-year legacy, Flying Machine has been retailing on the Flipkart Group platforms of Flipkart and Myntra for more than six years. A denim-first brand, Flying Machine is amongst the leading denim brands in India. With its brand legacy, design sensibilities and youth appeal, the brand is seen as a strong style partner across metros and smaller tier towns. Through this investment, the Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points.

Speaking on the investment, Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, "Flying Machine is a brand that is known in households across India, popular with the youth and synonymous with value and style. Through this investment, we look forward to partnering with the team at Arvind Youth Brands to continue to grow the market for its portfolio of products and enhance the strong brand equity that has been built over the last few decades."

J. Suresh, Managing Director and Chief Executive Officer of Arvind Fashions, said, "The partnership with the Flipkart Group will help us accelerate our online growth strategy as we focus our efforts on developing an omni-channel retail approach for Arvind Youth Brands and Flying Machine. Given the strong existing relationship with the Flipkart Group, and their presence in online fashion, it was an obvious choice for us to enter into this engagement through which Flipkart and Myntra will be our preferred online partner for the Flying Machine brand, while we continue to grow our offline sales through channels like exclusive brand stores, department stores and multi-brand stores."

The transaction is subject to customary conditions precedent.

Metta Capital Advisors acted as the financial advisors to AFL for this transaction.

UCO Bank Bank signs 'bancassurance' pact with

UCO Bank Bank signs 'bancassurance' pact with SBI Life Insurance, making insurance solutions accessible to bank customers across the country-TT final

UCO Bank Bank signs ‘bancassurance’ pact with SBI Life Insurance, making insurance solutions accessible to bank customers across the country Kolkata, 22 June, 2020: UCO Bank, one of the leading public sector banks in India and SBI Life Insurance, one of the most trusted private life insurers in the country, today entered into a bancassurance pact making holistic insurance solutions
accessible to customers in UCO bank’s 3,086 branches spread across the country.

The agreement was signed by Mr. Nidhu Saxena, General Manager-Retail Banking, MSME & Bancassurance Business, UCO Bank and Mr. Ashwani Kumar Shukla, Regional Director-Kolkata region, SBI Life Insurance.

SBI Life has been continuously strengthening its distribution footprint in the country by building meaningful association with banks, corporate agents, brokers, insurance marketing firms, and others. With this partnership, SBI Life insurance aims to further extend availability of insurance coverage for the larger populace.

Speaking on the partnership, Mr. Ravindra Kumar, President – Zone III, SBI Life aid, “Partnership with world class institutions dedicated to serve the nation is key to realize the dream of universal insurance coverage. The tie-up with UCO Bank is a step in this direction, which will help boost SBI Life’s reach to new customers across geographies, bringing them under the ambit of Life Insurance.

With UCO Bank’s extensive network and presence in the country and SBI Life’s digitally enabled services, we will be able to make holistic insurance solutions easily accessible to a wider audience. This partnership provides collaboration opportunities for both the entities to leverage on each
other’s strength for the benefit of consumers.”

Mr. Atul Kumar Goel, Managing Director & CEO, UCO Bank on the occasion said “Our aim has always been to continuously create greater values for our customers. With these new tie-ups we would now be offering a much wider range of Insurance products. We intend to deliver greater value through customer beneficial offerings both in terms of product pricing and their features”.


Mr. Ajay Vyas, Executive Director, UCO Bank speaking on the occasion said “These new tie-ups enables the Bank to reaffirm our commitment to our customers for their financial well-being through providing comprehensive Insurance solutions. Also, we would digitise and automate the customer
interface which would add to ease of customers in availing these facilities”.