The loan will be at an interest rate of 7.5 per cent and for a period of three years. "We have negotiated with SBI for Rs 600 crore (Rs 6 billion) and Rs 300 crore (Rs 3 billion) will come immediately and the rest will come by March-end," said a senior AAI official.
The passenger numbers in the third quarter were up by over 25 per cent compared to the same quarter last year.
The national carrier to get lion's share of the Rs 1,978 crore budgetary support demanded by the ministry for 2010-11.
Chinese auto component manufacturers are quietly making inroads into India.
Road ministry mulls a fee of Rs 15 for such a cover.
The trend of airlines shifting capacities to the low-cost model, as witnessed in the current year, is likely to continue in the next year. Around 80 per cent of the capacity converted or added in the latter part of 2009 had been in the low-cost segment, and a majority came from conversions of full fledged services.
The terminal, built at a cost of Rs 8,996 crore, has four boarding piers with 48 boarding gates and 78 aerobridges.
There are 600 employees of the Airports Authority of India (AAI) in Mumbai who draw their pay with no work to do.
Rights of toll collection in 96 toll plazas on highways under the National Highways Authority of India will be offered to the private sector.
Air India is to again start the process of negotiations on productivity-linked incentives (PLI) in pay with the staff unions. Earlier meetings held to agree on an amount to cut from salaries have not yielded satisfactory results."We will be meeting the unions soon and are hopeful that we will agree to a percentage, as all the employees also want the airline to survive," said a senior government official.The official also added that any cut in PLI would be across the board.
A plan for projects to be awarded in the year 2010-11 is to be launched soon.
The cost available per seat km of an FSC, which used to be Rs 4.60 compared with Rs 2.40 of their low-cost counterpart, has fallen to Rs 3.02, only 25 per cent more than the latter.
To bring down its aircraft strength of 133 to 95, National Aviation Company Ltd, which runs Air India, has worked out a combination of leasing, selling and phasing out of its existing fleet.
Paramount is the only airline in India to offer full business class service at prices comparable to the normal economy class fares of other airlines. It flies to 16 destinations in the country.
Low-cost carrier SpiceJet Airlines, promoted by a group of investors led by the Kansagra family and Delhi-based Ajay Singh, is working on a plan to start international operations next year, making it the third private Indian carrier after Jet Airways and Kingfisher to fly overseas.
To centralise process by setting up special units in each state.
Reveals study by a leading global HR solution provider.
In an interview with Mihir Mishra and Jyoti Mukul, Nath, who as the commerce and industry minister in the previous United Progressive Alliance government was part of the fire-fighting to minimise impact of the slowdown, says that the current year will be better than the last year.
The former Indian Airlines pilot won a good deal for colleagues protesting a pay cut; but others question whether the victory was good for the airline.
"The (number of ) people flying business class has seen a decline of over 40 per cent in the domestic routes and 20 per cent internationally," said Ajay Prakash, general secretary, Travel Agents Federation of India.
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