'This trend will continue as long as the bull run continues.'
Airbus will increase sourcing of components from India, which offers plenty of opportunities, according to the aircraft maker's CEO Guillaume Faury. The European major, which has bagged huge aircraft orders from IndiGo and Air India, doubled its sourcing of components and services from India to 1 billion euros during the period from 2019-2023, he said.
There were concerns in some quarters that the airline would defer the purchase of some aircraft in order to save costs.
Civil Aviation Secretary Vumlunmang Vualnam on Thursday said the number of planes with domestic airlines will increase to 1,400 in the next five years as he highlighted the growth potential of the country's aviation space. Currently, the fleet is around 800 aircraft and leading carriers IndiGo and Air India have placed significant plane orders.
The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly three years ago after being bogged down by financial woes. In May 2023, the airline filed for a voluntary insolvency resolution process citing financial woes. The tribunal, in a 15-page order, said it is ordering the liquidation of the corporate debtor Go Airlines (India) Ltd.
The Board for Reconstruction of Public Sector Enterprises wants to examine the grave financial problems of Air India, but neither the Civil Aviation Ministry nor the national carrier has responded to the BRPSE offer.
The NCP leader said that he will be happy to cooperate with the ED so that the agency understands the "complexities" of the aviation sector.
National Aviation Company India Ltd, which runs Air India, is likely to receive government approval for its second equity infusion of Rs 1,200 crore (Rs 12 billion) by next week.
Modi alleged that the Congress government in Karnataka gave reservations in tenders based on religion, "snatching the rights of SCs, STs and OBCs." But Ambedkar had said there would not be reservation based on religion and there is a bar on giving reservation on the basis of religion in the Constitution, he stressed.
President Mohamed Muizzu, known for his pro-China stance, has thanked India for enabling the resumption of medical evacuation services with civilian aviation personnel from India.
Barring a few, such as Andhra Pradesh Chief Minister N Chandrababu Naidu (74), Union Minister C R Patil (69) and Uttar Pradesh Finance Minister Suresh Khanna (71), most other ministers attending the WEF represent the next generation of India's politicians.
Plans to rake in Rs 900 crore from marketing engineering, cargo & training services.
E.K. Bharat Bhushan has assumed charge as chairman & managing director of the National Aviation Company of India Limited.
The National Aviation Company Ltd, which runs Air India, today named Gustav Baldauf as its chief operating officer.
With no equity infusion from the government in sight and the company posting losses to the tune of Rs 2,154 crore (Rs 21.54 billion) in FY'08, the National Aviation Company of India (NACIL) has tightened its purse-strings.
Analysts say this is a reflection of the high debt that most aviation companies have on their books. "Aviation companies are unable to pay their dues because they are into losses.
The finance ministry has agreed to furnish sovereign guarantees on loans raised by National Aviation Company India Ltd, which flies under the Air India brand name. A top source in the ministry confirmed: "Yes, we will provide sovereign guarantee to Air India on its loans. After all, it is a company owned by the government."
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
Raghu Menon, special secretary and financial advisor in the civil aviation ministry, has been appointed the chairman and managing director of Air India, ending weeks of speculation over the issue.The Appointments Committee of the Cabinet approved the name of Menon, a 1974 batch IAS officer of the Assam-Nagaland cadre, after a keen race for the top job in the National Aviation Company of India Limited (NACIL), which runs the merged national carrier.
A proposed strike by almost all sections of Air India employees next Tuesday on various demands, including implementation of agreements relating to wages and cadre policy, has been declared illegal.After a meeting on Saturday, top officials of the Civil Aviation Ministry and the National Aviation Company of India Limited (NACIL), which runs Air India, decided to "take serious view" if the employees went ahead with their threat, official sources said.
These purchases represent the third phase of Air India's 68-aircraft fleet renewal plan. EXIM Bank had earlier approved $1.2 billion in 2007 and $548.8 million in 2008 to support the financing of NACIL's purchases of Boeing aircraft.
As a pre-requisite, the airline has taken the first step by appointing four independent directors to the state-owned company's expanded 13-member board. Stock exchange listing requirements mandate that one-third of a company's board must consist of independent directors.
The board meeting of the state-owned airlines was also attended by Arvind Jadhav, for the first time since he took over as Nacil CMD after the sudden exit of erstwhile chairman Raghu Menon from the company. However, sources in the company said no final decision could be taken as the issue would be discussed with the new government and the civil aviation ministry.
The National Aviation Company of India (NACIL), the entity that came into being after the merger of national carriers Air India and Indian, has increased its working capital limit to around Rs 9,500 crore (Rs 95 billion) in order to meet the recent hikes in fuel prices.
The Air India board is likely to give its approval to the appointment of global consultancy firm, Booz Allen and Company, for its cost restructuring plan.
NACIL had submitted a proposal in October 2008 for equity infusion of Rs 1,231 crore (Rs 12.31 billion) and provision of soft loan of Rs 2,750 crore (Rs 27.5 billion), with an interest of approximately 5 per cent payable over 15 years.
While the civil aviation ministry's activist supervision of the airline's functioning is said to be responsible for much of the mess, the airline management has its own sins to answer for.
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
Information Commissioner Sushma Singh told the officials of National Aviation Company of India Limited, the company formed after the merger of Air India and Indian Airlines, to give the details of 'pay, perks and privileges' enjoyed by its chairman, managing director and functional directors to Right to Information activist Subhash Chandra Agrawal.
The airline, which was formed through a merger of international carrier Air India and domestic carrier Indian Airlines announced in 2007, has accumulated losses of Rs 4,334 crore till March 31, of which fiscal 2008-09 will account for almost Rs 3,000 crore.
Delhi-based Vayudoot was launched as a subsidiary of erstwhile Indian Airlines in January 1981 to serve the northeast region.
With Arvind Jadhav, principal secretary, in the department of infrastructure development of the Karnataka government, emerging as the frontrunner in the race to replace Raghu Menon as the chairman and managing director of the state-owned National Aviation Company of India Ltd (Nacil), which runs Air India, informed sources said Menon lost the coveted job because of his opposition to the airline's proposed joint venture with Singapore Airport Terminal Services (SATS).
Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons. Asthana is a former top official of the Central Bureau of Investigation (CBI). In a notice to the stock exchanges, Religare said that while the company and Asthana were weighing the options of dealing with the letter of refusal by the RBI, it was also busy in preparing for the "herculean task" of making ready multiple applications to regulators.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
Air India had planned to launch the service in October but had to defer it as two of its cargo aircraft had to be sent for mandatory checks following an advisory from the Federal Aviation Administration, the official said. These aircraft are expected to join the fleet shortly along with one Airbus A310-200 configured freighter next month, the official said.
The National Aviation Company of India Ltd, that runs the government's flagship carrier Air India, has formally begun looking for a chief operating officer to steer the airline as part of its restructuring plan.
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.
Moving ahead with its fleet expansion plan, cash-strapped Air India has sought a long-term loan of USD 475 million from banks and financial institutions to acquire three long-haul Boeing-777s.
The Aviation Industry Employees Guild will file a petition in the Bombay high court this week against a decision by the National Aviation Company to cut daily outstation and tour allowances within India by 50 per cent. Nacil was formed after merging Indian Airlines and Air India last year.
Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez on Monday inaugurated the Tata Advanced System Limited (TASL)-Airbus facility in Vadodara to manufacture C-295 military aircraft in India.
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