Budget 2017: mixed reaction in aviation and tourism industries
The Dollar Business Bureau India’s aviation and tourism industry viewed the Union Budget 2017 as pro-growth and pro-poor budget, covering a wide sphere of the industry. They, however, felt that the Finance Minister could have made substantial announcements to make these two industries globally competitive. There were some positive reactions from the industry. KPMG Partner and Head (Aerospace and Defence) Amber Dubey who said that the government’s decision to develop, maintain and operate selected AAI airports in Tier 2 cities through PPP mode is a welcome step. “It will bring in greater efficiency, best practices and accountability. Higher commercial revenues will help reduce aeronautical charges and make flying more affordable," Dubey said. On Wednesday, Jaitely in the budget speech said the AAI framework will be ...
Revival of unused airports will give a 5-fold rise to Indian Aviation industry
Revival of 350 unused airports will give a five-fold rise to Indian Aviation industry over the next few years, saidRN Choubey, Secretary, Ministry of Civil Aviation (MoCA) Sai Nikesh D | The Dollar Business Ashok Gajapathi Raju, Minister for Civil Aviation(MoCA) and R N Choubey, Secretary, MoCA, during the 5th International Exhibition & Conference on Civil Aviation- India Aviation 2016, in Hyderabad on Thursday Intended to take theAviation industry to greater heights, the Ministry of Civil Aviation, Government of India, in coordination with Federation of Indian Chambers of Commerce and Industry (FICCI), is hostingthe5thInternational Exhibition & Conference on Civil Aviation- India Aviation 2016, being held in Hyderabad between March 16-20, 2016. The second day of the event on Thursday witnessed an international conference, ...
India, South Korea ink deal to enhance air connectivity
The Dollar Business Bureau India and South Korea have signed an agreement to enhance air services that include increasing the number of flights from 6 to 19 per week and granting additional points of call at Indian airports for the operators of east-Asian country. As per the agreement, South Korean flight operators will be able to access more Indian airports, add passenger capacity for travelers between two countries and use each other as stop-overs to fly to further destinations. Apart from Tokyo and Los Angeles, two additional beyond points of call- Seattle and Vancouver—have been granted for Indian carriers. This will make air services for Indian carriers to the above destinations more economical. Besides, Indian carriers can offer additional options to ...
India keen to boost helicopter industry
The Dollar Business Bureau Even though the ever growing Indian civil aviation industry offers huge potential, the commercial use of helicopter services is yet to become viable due to lack of infrastructure and regulatory measures, say experts. Industry leaders say that India’s civil aviation market is among the fastest growing in the world and several companies are looking to invest in the sector. However, since the first civil helicopter was flown in India in 1953, there hasn’t been a substantial growth in its fleet. Today, India has just about 280 civil registered helicopters, which represents less than 1% of approximately 35,000 helicopters worldwide. The country has only 76 commercial chopper operators. “In India, we have 1 helicopter for 2.8 million people. ...
Tweak in shareholding structure likely to up foreign investments in IndiGo Airlines
The Dollar Business Bureau Ahead of Initial Public Offer (IPO), the promoters of IndiGo airlines have decided to tweak the shareholding structure with an aim to create space for foreign investors. With this, US-based NRI Rakesh Gangwal, who was holding 47.88% stake in IndiGo airlines through Virginia-based company-Caelum Investments, will now hold a majority share of the airlines. A decision in this regard followed merger of Caelum Investments with InterGlobe Aviation (which operated the airlines by holding 51.12% stake), the process for which began last year when InterGlobe Aviation filed an application in the Delhi High Court seeking consent for a merger with Caelum Investments. Caelum Investments’ stake in the airlines was deemed as foreign investment and the promoters could have had ...
