Airfares to be revised on quarterly basis, under UDAN
The Dollar Business Bureau Airfares and subsidy by the government to airlines under UDAN scheme will be reviewed on quarterly basis depending on the inflation. The UDAN (Ude Desh ka Aam Naagrik) scheme, which seeks to connect under-served and un-served airports, provides for a limit on prices of air tickets and viability gap funding (VGF) for the airlines. The Ministry of Civil Aviation has said that VGF and caps on the prices of air tickets under the UDAN scheme would be revised every three months. The airfares would be associated with inflation, while VGF would be considered on the basis of inflation, aviation turbine fuel cost and dollar-rupee exchange rates. The first flight, under the UDAN scheme, took off from Shimla to New Delhi, last month. “Both airfare and ...
Oil companies slash jet fuel price by 11.7%
Source: PTI ATF or jet fuel price was on Tuesday slashed by a steep 11.7% while rates of non-subsidised cooking gas LPG were reduced by Rs.25.5 per cylinder in line with dip in international prices. Aviation Turbine Fuel (ATF) price in Delhi was cut by Rs.5,469.12 per kilolitre (kl), or 11.7%, to Rs.40,938.24 per kl, oil companies announced on Tuesday. This is one of the steepest reductions, the biggest being a cut of Rs.7,520 per kl, or 12.5%, on January 1. Prior to Tuesday's reduction, jet fuel rate was cut by 9.4% to Rs.46,407.36 on August 1 and by Rs.2,086.56 per kl to Rs.51,267.36 on July 1. ATF, just as fuel in aeroplanes, on Tuesday costs 33% less than petrol that ...
Government likely to ease norms for aircraft imports
The Dollar Business Bureau The government is likely to allow airlines to import aircraft without prior approval, Civil Aviation Minister Ashok Gajapathi Raju said. As per the existing norms, all scheduled and unscheduled regional airline operators need to get a no-objection certificate from the Civil Aviation Ministry for the acquisition or import of aircraft. The ministry has already written to the Reserve Bank of India and Directorate General of Foreign Trade (DGFT), seeking amendments in their rules so as to make the import procedure easier for airlines. “As a step forward, towards simplification of procedures, Ministry of Civil Aviation has requested Directorate General of Foreign Trade, Ministry of Commerce & Industry, for amending their notification and Reserve Bank of India to ...
Fifteen new airports to widen air connectivity among smaller cities
The Dollar Business Bureau In order to improve air connectivity in smaller cities, the government has granted “in principle” approval for setting up of 15 greenfield airports across the country. Greenfield airports are set up on undeveloped land with an aim to cater to the areas that are yet to be connected to the existing airports. Upcoming airport projects are planned in Mopa in Goa, Navi Mumbai, Shirdi and Sindhudurg in Maharashtra. Karnataka will have four such airports at Bijapur, Gulbarga, Hasan and Shimoga, while Kerala will get two— Kannur and Aranmula. Besides, Durgapur in West Bengal, Dabra in Madhya Pradesh, Pakyong in Sikkim, Karaikal in Pudducherry and Kushinagar in Uttar Pradesh will also be covered under the ...
