Air India is cutting around 100 flights a day as rising jet fuel prices squeeze its operations. The steepest reductions hit long-haul routes to Europe, North America, Australia, and Singapore, the airline's highest-revenue international corridors. The Federation of Indian Airlines has warned the government that more carriers could suspend services unless fuel cost relief arrives soon. Jet fuel is the single largest cost for any airline, typically accounting for 30-40% of operating expenses. When prices spike sharply, long-haul international routes, which burn far more fuel per flight, become the fastest targets for cuts. Air India's move signals the cost pressure has crossed a threshold where flying those routes is no longer commercially viable at current fares. For travelers, fewer daily flights means tighter seat availability and likely higher fares on the affected corridors, particularly during peak travel periods. For Air India, shrinking capacity risks ceding ground to rival carriers on routes it has been rebuilding since its privatization. Watch for whether the government responds with fuel tax relief or subsidy measures, and whether other Indian carriers follow with similar cuts.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
