Indian Airlines has proposed to acquire 43 aircraft comprising A319, A320 and A321 for replacement of the ageing fleet of A300 and B737-200, government informed the Rajya Sabha on Tuesday.
The Airports Authority of India, would be turned into a company by amending laws to enable the body raise funds from market for carrying out modernisation of a large number of major airports across the country, Civil Aviation Minister Praful Patel said on Tuesday.
Replying to questions on losses to Air India, civil aviation minister Praful Patel said the rally in international crude oil prices that touched $147 a barrel in July 2008, hit Indian carriers by Rs 10,000 crore (Rs 100 billion) in jet fuel bill. Air India loses are a result of high jet fuel prices and fall in air traffic following global economic slowdown, he said. "There are (also) systematic issues which need to be corrected."
'The government will not remain a mute spectator to the goings-on in both the carriers.'
The move will help mop up not more than Rs 10 billion, which is only a fifth of the capital requirement of the industry, led by Jet Airways and Kingfisher Airlines, say experts. The expected investment has been calculated on the basis of a 100 per cent premium on the current valuations of Jet Airways and Kingfisher -- two of the country's largest carriers by market share -- which require over Rs 50 billion.
"We have leads about the Bombay blasts but no arrests have been made," Home Secretary V K Duggal said.
Public sector carriers Air-India and Indian Airlines would not offload more than 20 per cent of their equity in their proposed initial public offer slated to be announced within this fiscal.
India is ready to give Gulf carriers more routes and seats provided its airlines are given the same on the lucrative India-UAE route, Civil Aviation Minister Praful Patel has said. Various Gulf carriers are seeking access to more cities as well as increased seats but "we have asked them to give more seats to us since there are more Indian carriers now seeking rights to fly to this sector," he told PTI in an interview.
Domestic Airlines have been permitted to fly overseas except to the Gulf region, Civil Aviation Minister Praful Patel said on Wednesday.
The merger of Air India and Indian will move from the boardroom to the skies on August 1, with the launch of first non-stop flight of the combined entity to the US.
Air-India has been making profit during the last three years though the provisional results for the fiscal 2003-04 show a dip of nearly Rs 28 crore as compared to the previous financial year, the Lok Sabha was informed on Friday.
The government on Wednesday decided to put a 49 per cent cap on foreign direct investment in the modernisation of Mumbai and Delhi airports and extended the last date for putting in expression of interest to July 20.
The government on Thursday said state-owned carrier Air-India would raise funds through loan guaranteed by the US Exim Bank to part-finance its purchase of 68 aircraft costing about $7.2 billion.
The proposed merger of Air India and Indian would be taken up on a 'fast-track' and a consultant is likely to be appointed soon to prepare a roadmap to decide on the issue, including the public issue, Civil Aviation Minister Praful Patel said.
The airport employees have called off their three-and-a-half-day old strike following a meeting with Civil Aviation Minister Praful Patel on Saturday.
Leading private airline Jet Airways tops the list of defaulters among private carriers and owes Rs 2,437.90 lakh (Rs 24.38 million) to the government, the Lok Sabha was informed on Thursday.
Bharti Group, which has bid for modernisation of the Delhi airport, would consider taking up similar jobs for other non-metro airports if it wins the bid, its chief Sunil Mittal said on Tuesday.
The government on Thursday said the issue of an initial public offering of Air-India and Indian Airlines was at a preliminary stage of discussion.
Public sector carriers Air India and Indian Airlines are preparing for their initial public offers by the next fiscal to fund their fleet acquisition programmes and enhance debt-equity ratio.
A Boeing support team has arrived to help Air-India in the induction of a Boeing 777 jet into the fleet, even as the airline board is expected to take a final decision on the acquisition of a 50 aircraft fleet next month.
In the eye of the raging IPL storm, Union Agriculture Minister Sharad Pawar on Saturday rubbished the charge that his party or ministerial colleague Praful Patel was involved in any alleged wrongdoing relating to the T20 league.
The government had provided some relief to domestic airlines when ATF prices had sky-rocketed, Patel said, adding 'it would not be possible now.'MIAl has proposed that it may be allowed to levy Rs 350 per domestic passenger and Rs 1,300 per international passenger to meet its funding requirements.
When specifically asked about the reason for the crash and whether Air India is privy to any preliminary findings, Chandrasekaran said, "One would have to wait for the probe to conclude."
Take a look at the inside pictures of the party.
Did the fear of central agencies probing scams involving NCP leaders that forced these politicians to jump ship?
Politicians across the political spectrum graced Radhika Merchant and Anant Ambani's wedding ceremonies at the Jio World Convention Centre at the Bandra Kurla Complex in north west Mumbai.
All roads led to Arpita Khan and Aayush Sharma's Eid party, as Bollywood's A-listers -- power couples and surprise guests -- looked their festive best.
"Please crucify me if I am guilty. What have I done wrong?" said Praful Patel, minister of civil aviation, reacting to the criticism he has been facing in the country after the Dubai-Mangalore flight crashed on Saturday.
The Descent of Air India chronicles the financial woes of the airline caused by alleged dovernment interference in its functioning.
Ruling out the possibility of union ministers Sharad Pawar and Praful Patel resigning in the wake of the IPL controversy, the Nationalist Congress Party on Thursday dismissed reports about the involvement of any of its leaders or their relatives in any financial wrongdoings in the cricket league. Party spokesman D P Tripathi saw nothing wrong in Civil Aviation Minister Patel's 'personal office' forwarding projections of new franchisee valuations to Tharoor.
Civil avation minister Praful Patel said on Tuesday he would once again take up with the finance minister P Chidambaram the issue of rationalisation of taxes on Aviation Turbine Fuel.
Patel was administered the oath as the 18th chief minister by Governor Acharya Devvrat at a function held at the Helipad Ground near the new Secretariat.
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