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.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
RM took stock of progress in production of the fighter jets whose delivery to India will begin in September next year.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Airports levy charges such as FTC, infrastructure charge, and into-plane charges on sale of jet fuel. The levy is passed through to airlines, pushing up costs.
"If India's requirements are beyond any existing fighters, we are prepared to make upgraded F-16s to India's specifications with complete transfer of technology," Mike Kelly, Senior Executive of Lockheed Martin said.
The Indian Navy described it as a "proud and historic" day for the nation and said India has joined a select group of countries having niche capability to indigenously design, build and integrate a state-of-the-art aircraft carrier.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up the order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.
French government said French companies have the full freedom to select Indian firms for the deal.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
IndiGo has been facing a probe by Sebi ever since a public spat came to light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
With aviation regulator Directorate General of Civil Aviation suspending the operating permit of Global Vectra, the Ministry of Home Affairs ambitious plan to hire nearly a dozen helicopters from the private firm to be used for anti-Naxal operations has come a cropper.
Since international oil prices have fallen, the government's subsidy payout will fall by almost Rs 50 per cylinder to Rs 240.
They said Rajeev Shamsher Bahadur Saxena wanted in the Rs 3,600 crore AgustaWestland VVIP choppers money laundering case and lobbyist Deepak Talwar wanted by the Enforcement Directorate and the Central Bureau of Investigation in a case of misusing over Rs 90 crore taken through the foreign funding route, were brought in a special plane to Delhi around 1:30 am.
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.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
Is it Rs 300 billion or Rs 66 billion or Rs 33.12 billion?
While the Saudi drone strike has put the focus back on anti-drone measures, caution also stems from the fact that India has a number of large oil refining assets close to India-Pakistan border.
Airline told to transfer non-core assets, subsidiaries to special purpose vehicle
All the items identified for procurement from domestic defence manufacturers are used in shipbuilding. So far, the defence ministry has notified 127 items where purchase preference is given to local suppliers.
The civil aviation ministry received 20 applications and it granted NOCs to sixteen companies between 2009 till now
Mayer stressed on the transformation of the firm from a technology company to a media, news, entertainment and advertising platform utilising products focusing on search, communications, digital and videos.
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
IndiGo maintained its lead position with 49 per cent share of the domestic passenger market in May. SpiceJet's market share increased to 14.8 per cent in May, giving it the number two spot. The market share of Air India, GoAir, AirAsia and Vistara were 13.5 per cent, 11.1 per cent, 6.3 per cent and 4.7 per cent, respectively, in May this year.
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
An unprecedented decision to form a ministerial-level committee was driven by fears of witch-hunt by investigating agencies.
The IAF has paid French aerospace firms Dassault and Thales about Euro 350 million for 'performance-based logistics'. This requires the vendors to ensure that 75 per cent of the Rafale fleet is combat-ready at all times, notes Ajai Shukla.
One of the arrangements the Indian government is considering is a tie-up with a sovereign fund to finance the Embraer deal.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
Vistara started allowing passengers to book an extra seat from Tuesday. IndiGo and SpiceJet, too, are in the final stages of designing such a product to be sold as an add-on.
What could be more uncertain than Virat Kohli's agonising wait for a century for over two years? Perhaps it's what you will pay tomorrow morning to fill your vehicle's tank. Pump prices have joined cricket scores as the country's favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different.
'It will be like this: If you use the window seat in the first row, next will be the aisle in the second row, to maintain social distancing.' 'So, two-thirds of the aircraft is not going to be used.'
Regulator said that no permit will be given until it submits a revival plan.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
Soccer was one example of a sector in the economy that could reopen relatively quickly, and that the government is in talks with clubs and the Brazilian Football Confederation (CBF) about the timing.
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