In a LinkedIn post on Wednesday, February 15, night, Nipun Aggarwal had said Air India, in addition to the order of 470 planes, had the option to purchase 370 aircraft from Airbus and Boeing.
The Tata group-owned Air India will induct over 90 aircraft in two years as it looks to widen its footprint and grab a larger market share. The plan includes 56 planes from the mega aircraft order that the airline has now finalised with Airbus and Boeing. These will be in addition to previously announced leases of 36 planes that include Airbus A320Neo, A321Neo, and Boeing 777 aircraft.
The facility would focus on equipment for the energy sector, besides aviation and health areas.
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
Lawsuit issue was a dispute over payment, with GE Capital Aviation Services and Celestial Aviation Trading.
Aircraft lease rentals are fixed costs and account for around 15 per cent of an airline's expense and since these are paid in dollars are also subject to currency fluctuations.
Unlikely to happen in less than a year,despite the advantage of the parent airline's base.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
Paramount Airways, whose operations have been affected by a dispute over leasing of three aircraft, on Thursday offered to pay $5.25 million within six months to the UK-based lessor in the Supreme Court.
London hopes to convince New Delhi's naval planners to power India's second indigenous aircraft carrier with the Queen Elizabeth's integrated all-electric propulsion system.
With this, the biggest buyer of Airbus SE A320neo planes seems to be moving away from Pratt & Whitney engines, which have been experiencing glitches. CFM International will deliver the first engine by 2020.
Rediff.com takes a look at the major aviation disasters of recent times.
'Prime Minister Modi has initiated a host of reforms in the right direction, and I would like to see that continuing.'
Landing on an aircraft carrier deck is the ultimate and most daunting challenge for a fighter pilot. This takes India into a select group of nations -- the US, the UK, Russia, France, and China -- that have developed such jets.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Liquor baron Vijay Mallya's Kingfisher Airlines will commence operations during the first quarter of 2005.
It is raining trouble for Air India's Dreamliner fleet as one of the aircraft was forced to return to New Delhi on Thursday after developing a windshield crack mid-air on its way to Kolkata.
Rediff.com takes a look at the major aviation disasters of recent times.
Rediff.com takes a look at the major aviation disasters of the year.
'The JF-17 is the aircraft of today and the Tejas is the aircraft of tomorrow.'
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
'Boeing has returned some cash to the airline which will help it improve the current liquidity crisis.'
Chinese companies show their prowess among the world's top companies.
The HAL wants the IAF to buy 80 Tejas Mark I-A to keep the production line occupied from 2020 to 2023-24
From Kudankulam to the Land Bill, the author takes the Twitter route to capture the infra action of 2013.
'The past year has yielded extraordinary results in the strategic, commercial, and people-to-people components of the India-United States partnership, US Ambassador to India Richard Rahul Verma tells Aziz Haniffa/Rediff.com in an exclusive interview.
'This has to be seen in the context not only of the legacy we inherited, but also of global economic weakness.'
'If after inheriting the very bad situation we have reached this level despite consecutive years of drought and no growth in the world economy, it is no accident.' 'It is a result of the sound macro economic policies followed by this government.' 'We have eschewed populism and stuck to a path of fiscal prudence.'
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