Search Result for : Air India

The Dollar Business Bureau The Government on Wednesday made a number of amendments in India’s Foreign Direct Investment (FDI) policy for some major sectors. The Cabinet has allowed 100% FDI via automatic route in single brand retail trading and construction, while it has raised the existing limit in power exchanges and aviation sectors. “The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval to a number of amendments in the FDI Policy. These are intended to liberalise and simplify the FDI policy so as to provide ease of doing business in the country. In turn, it will lead to larger FDI inflows contributing to growth of investment, income and employment,” said an official statement. For single brand retail trading, ...

The Dollar Business Bureau Niti Aayog’s outgoing Vice Chairman Arvind Panagariya has said ‘writing off some debt of Air India, so as to make it attractive to prospective investors, could be a "wise" move.’ Niti Aayog had suggested to the government to privatise the public carrier and a committee was set up under Finance Minister Arun Jaitley to carry forward the process. "I don't know whether you need to write off debt to find a buyer, I don't know the market. Transaction advisers are competent on that," Panagariya told Press Trust of India in an interview. "I am just saying that it's probably wise to write off part of the debt before this happens (privatisation of Air India)," he added. Regarding the need for asset ...

The Dollar Business Bureau  Soon after the Cabinet cleared the consideration of Air India's disinvestment, leading domestic airline IndiGo has shown its willingness in buying the flight operations of the national carrier, specifically overseas services.  IndiGo President Aditya Ghosh sent a letter to the Minister of Civil Aviation Gajapathi Raju expressing interest to buy out the international services of Air India as the airline looks to spread its operations overseas.  “Kindly treat this letter as our expression of interest in acquiring the international airline operations of Air India and Air India Express. Alternatively, we are equally interested in acquiring all of the airline operations of Air India and Air India Express,” said Ghosh in the letter.  IndiGo is a leader in the domestic market ...

By Abin Daya Despite all what the flat-earth proponents might say, the world is surely round. I’m convinced of that! Things do come back a full circle. 64 years after it enacted the Air Corporations Act and nationalised the Air India, the government has decided that it does not want to be in the business of ferrying passengers over air any more. It is looking to privatise the airlines, and the Tatas, from whom the airline was originally taken over, seem to be the most likely suitor. The performance of the domestic air passenger industry is one of the topics in today’s update. However, the main topic for today’s update is India’s export performance for the month of May 2017. While export performance has ...

The Dollar Business Bureau Boeing, a leading player in the global aerospace industry, launched the Boeing India Engineering & Technology Centre in Bengaluru on 24-01-2017. The company mentioned that the new undertaking shall boost local employment and support many of its operations such as information technology and data analytics, engineering, research and technology. The precise employment projections and investment figures haven't been disclosed. "The centre will leverage a talented pool of employees to increase productivity and long-term competitiveness to support Boeings engineering growth in strong global markets like India," Boeing India president Pratyush Kumar said. In India we see a true path towards a mutual partnership for success, and the launch of this centre is a major step in that direction, he added. In India, Boeing has had a presence ...

The Dollar Business Bureau On January 20, Union Minister of State Jayant Sinha announced, national carrier Air India’s plans to register operational profit in the current fiscal as the minister said that he observed a drastic change in growth of the Civil Aviation Sector from 20 to 25%.  Sinha said, there was an upsurge of passenger traffic by 23.5% in December, 2016 rather than a decline. The minister also stated that demonetisation has not affected the Civil Aviation Industry, therefore it also failed to affect Air India’s performance. The profit gained in the last financial year was Rs.105 crore.  Although there was loss in the first two-quarters of the financial year, it rebounded to profit in the latter. He conceded that performance of Air ...

The Dollar Business Bureau Air India will conclude the procurement of 27 Boeing 787 aircraft before April 2017, and in early January, it will take delivery of the 23rd Boeing Dreamliner. “We will be taking delivery of 23rd B-787 Dreamliner on January 9 and hope to have the last batch of four more Dreamliners by the end of this fiscal year. That will have us completing the process that started more than a decade ago in 2006," Vinod Hejmadi, Finance Director, Air India, told PTI.    In 2016, American aviation major delivered only two Dreamliners to Air India against the plan of three. Boeing was supposed to give the delivery of the 23rd plane in the month of November or December. In January 2006, Air India had put an ...

PTI With an aim to connect more global destinations, leading state-run airline Air India will launch Ahmedabad-London-Newark flight from August 15 and Delhi-Madrid in December, and also plans to expand its fleet size in next four years, a top official said today. "We will be launching the Ahmedabad-London-Newark flight from August 15 and Delhi-Madrid from December as part of our growth plan," Air India Chairman and Managing Director, Ashwini Lohani, told reporters here. Lohani arrived here for taking part in a programme on the occasion of opening of AI area manager's office, which was inaugurated by Madhya Pradesh Chief Secretary Antony DeSa. "We have launched a number of new flights. We have already launched flights from Delhi for San ...