Group to enter education, invest `100 cr to begin with.
The move would cap the discontent among pilots at not having enough flying hours and even help the state carrier gain grounds in terms of passenger carriage.
Will operate in all airports except those in Hyderabad, Bangalore and Delhi
AIR India's turnaround plan, which has been reviewed by consulting firm Deloitte and accepted by the airline's board, says the company will start making operating profit from this financial year itself. Air India has been running under losses since 2007.
Air India has taken loans from a consortium of 20 banks.
Air India Chairman and Managing Director Arvind Jadhav, has finally looked towards his employees for suggestions after trying many consultants in the past for reviving the debt-ridden state-run carrier.
In its ongoing drive to cleanse the system of unqualified pilots, the Directorate General of Civil Aviation (DGCA) has asked all airlines to monitor the hiring and training of co-pilots in a more effective manner and to file a monthly report on this.
For the peak summer season, starting May, the airline is offering fares that are up to 15 per cent less than what low-cost carriers are quoting.
Kapil Sibal, telecom minister, said many companies borrowed heavily to pay for 3G licences late last year. These companies were now facing difficulty in raising resources for the business, upsetting the calculations they had made while bidding aggressively for the licences, he said.
The National Highways Authority of India (NHAI) has been told to work on awarding contracts for around 100 projects, covering 11,151 km, over the financial year starting April 1.
The cap of 25% on sales to group companies likely to be removed.
Telcos such as Loop, Etisalat and Videocon have done little to churn the subscriber base.
The new model, being prepared by the Planning Commission, is expected to be finalised in three months. It would have fixed total project costs and specifications.
Armed with permission to issue Rs 10,000 crore (Rs 100 billion) of tax-free bonds in 2011-12, the National Highways Authority of India (NHAI) will issue the first lot worth Rs 2,500 crore by mid-May.
Pilots working for Air India are divided on the call of a nationwide strike from March 9 by the Indian Commercial Pilots Association (ICPA), part of the erstwhile Indian Airlines, which has 680 members.
A memorandum of understanding between the defence and telecom ministries for vacation of spectrum was signed two years ago.
The plan includes expanding the number of flights of AI Express from 204 a week to over 250 a week with a new thrust on West Asia.
The Japanese giant will also consider increasing its capacity, which could mean a new plant or expansion of existing units, after its ongoing expansion to 500,000 vehicles is completed in phases.
The note recommends allowing FDI in domestic firms through the issue of partly-paid up shares and convertible warrants, but with certain riders.
In November, airlines resorted to raising spot fares by up to 300 per cent on various routes.
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