NEW DELHI: The global airlines association on Thursday reported an increase of 6.8 percent in international passenger traffic for May this year, compared to the like period of 2010.
According to the International Air Transport Association (IATA), the positive passenger growth in May has helped in reducing pressure on profits in the high fuel prices environment, but freight segment has continued to be in a slump, with a downfall of 4 percent.
"This (passenger traffic) is 4 percent higher than the beginning of the year, whereas freight traffic has showed a drop of 4 percent against the post-recession peak of the re-stocking cycle in May 2010," IATA said in a statement.
The statement said that India's domestic demand was robust at 13.8 percent in May as compared to previous-year levels with a capacity expansion 19.9 percent.
Meanwhile, IATA's director general and chief executive Giovanni Bisignani said he was confident that the airline industry will make profit for 2011, but cautioned that there were grave risks associated with political unrest in the Middle East and the European currency crisis.
"We still expect the industry to make $4 billion this year. That is a pathetic 0.7 percent margin and another shock could alter the industry's fortunes dramatically," said Bisignani.
Source:India Times
Showing posts with label Transportation. Show all posts
Showing posts with label Transportation. Show all posts
Thursday, June 30, 2011
Friday, January 28, 2011
More flights to remote areas likely
The aviation ministry is planning to expand the scope of existing route dispersal guidelines for airlines that define a dozen key metro routes from the region according to air traffic
Indian carriers may be asked to increase connectivity to remote areas on the region inside a move that could raise prices for airlines even as it aims to evenly distribute the growth in domestic air traffic, which crossed the 52mn mark last year. The aviation ministry is planning to expand the scope of existing route dispersal guidelines for airlines that define a dozen key metro routes from the region according to air traffic. Airlines need to ply at least 10% of their total metro flights on routes covering destinations that are not well connected and are a smaller amount profitable, including Jammu and Kashmir, the North-East, Lakshadweep, and also the Andaman and Nicobar islands. "The targeted traffic has elevated more than the years and there is a situation for revising these metro routes. Kochi-Bangalore and Bangalore-Hyderabad are also at par in terms of targeted traffic now," mentioned a ministry official, who declined being named. "DGCA (Directorate General of Civil Aviation) is getting asked to appear into it and rework."
The regulator defines high-traffic metro routes currently as Mumbai-Bangalore, Kolkata-Delhi, Mumbai-Kolkata, Kolkata-Bangalore, Mumbai-Delhi, Kolkata-Chennai, Mumbai-Hyderabad, Delhi-Bangalore, Mumbai-Chennai, Delhi-Hyderabad, Mumbai-Thiruvananthapuram and Delhi-Chennai. If, for example, Kochi-Bangalore and Hyderabad-Bangalore are added to this list, the amount of flights that airlines ply on a smaller amount profitable routes will simultaneously increase. Civil aviation secretary Nasim Zaidi needs the definition being widened to cover such routes, the ministry official said. In 2009, DGCA had banned national airlines from buying seat-miles from so-called regional carriers to meet regulatory requirements, as Mint reported on 24 April. Wadia Group's low-fare carrier GoAir bought seats from Gurgaon-based MDLR Airlines Pvt. Ltd in 2008 after it was unable to meet route dispersal requirements as it was focused on just flying metro routes then.
Most national airlines including GoAir prefer these metro routes, which provide far better passenger targeted traffic and yields, besides helping to save prices as aircraft maintenance facilities require not be based at multiple airports. Any move to widen the metro route definition is likely to force all airlines to rework their schedules in line on the new guidelines, that are likely to come up for consultation soon. An official having a domestic carrier confirmed how the matter has been discussed with airlines, but called it illogical and against the recommendations on the Naresh Chandra panel report of 2003 over a aviation sector. The report, offered over a aviation ministry website, had advised that "route dispersal guidelines need to be abolished" and airlines need to be allowed to assistance the routes of their choice, according to commercial considerations.
It had also advised that "the federal government need to provide explicit subsidy support-preferably from the general exchequer and supplemented by a sector-specific cess of 5% on airfare and proceeds from the privatization of airports-for providing essential, but uneconomical services, and award it via a method of minimum subsidy bidding". The creation of a non-lapsable important air services fund was an ideal solution for this, it said. None of these recommendations had been employed so far. "Where there is no demand on Kolkata-Silchar, they want you to put jumbos. You happen to be forcing the industry being sick," mentioned the airline official. You'll find other constraints at such low-traffic destinations, he said. In Srinagar, for example, wherever the amount of daily flights have elevated drastically through the years, this official pointed offered are no night-landing facilities, leaving tiny scope for more flights to consume off or state following sunset.
Source: India Infoline
Indian carriers may be asked to increase connectivity to remote areas on the region inside a move that could raise prices for airlines even as it aims to evenly distribute the growth in domestic air traffic, which crossed the 52mn mark last year. The aviation ministry is planning to expand the scope of existing route dispersal guidelines for airlines that define a dozen key metro routes from the region according to air traffic. Airlines need to ply at least 10% of their total metro flights on routes covering destinations that are not well connected and are a smaller amount profitable, including Jammu and Kashmir, the North-East, Lakshadweep, and also the Andaman and Nicobar islands. "The targeted traffic has elevated more than the years and there is a situation for revising these metro routes. Kochi-Bangalore and Bangalore-Hyderabad are also at par in terms of targeted traffic now," mentioned a ministry official, who declined being named. "DGCA (Directorate General of Civil Aviation) is getting asked to appear into it and rework."
The regulator defines high-traffic metro routes currently as Mumbai-Bangalore, Kolkata-Delhi, Mumbai-Kolkata, Kolkata-Bangalore, Mumbai-Delhi, Kolkata-Chennai, Mumbai-Hyderabad, Delhi-Bangalore, Mumbai-Chennai, Delhi-Hyderabad, Mumbai-Thiruvananthapuram and Delhi-Chennai. If, for example, Kochi-Bangalore and Hyderabad-Bangalore are added to this list, the amount of flights that airlines ply on a smaller amount profitable routes will simultaneously increase. Civil aviation secretary Nasim Zaidi needs the definition being widened to cover such routes, the ministry official said. In 2009, DGCA had banned national airlines from buying seat-miles from so-called regional carriers to meet regulatory requirements, as Mint reported on 24 April. Wadia Group's low-fare carrier GoAir bought seats from Gurgaon-based MDLR Airlines Pvt. Ltd in 2008 after it was unable to meet route dispersal requirements as it was focused on just flying metro routes then.
Most national airlines including GoAir prefer these metro routes, which provide far better passenger targeted traffic and yields, besides helping to save prices as aircraft maintenance facilities require not be based at multiple airports. Any move to widen the metro route definition is likely to force all airlines to rework their schedules in line on the new guidelines, that are likely to come up for consultation soon. An official having a domestic carrier confirmed how the matter has been discussed with airlines, but called it illogical and against the recommendations on the Naresh Chandra panel report of 2003 over a aviation sector. The report, offered over a aviation ministry website, had advised that "route dispersal guidelines need to be abolished" and airlines need to be allowed to assistance the routes of their choice, according to commercial considerations.
It had also advised that "the federal government need to provide explicit subsidy support-preferably from the general exchequer and supplemented by a sector-specific cess of 5% on airfare and proceeds from the privatization of airports-for providing essential, but uneconomical services, and award it via a method of minimum subsidy bidding". The creation of a non-lapsable important air services fund was an ideal solution for this, it said. None of these recommendations had been employed so far. "Where there is no demand on Kolkata-Silchar, they want you to put jumbos. You happen to be forcing the industry being sick," mentioned the airline official. You'll find other constraints at such low-traffic destinations, he said. In Srinagar, for example, wherever the amount of daily flights have elevated drastically through the years, this official pointed offered are no night-landing facilities, leaving tiny scope for more flights to consume off or state following sunset.
Source: India Infoline
Monday, January 24, 2011
Non-refundable ticket cancellation: Airlines to return money
Inside a big relief to air travellers, domestic airlines have agreed to refund passengers all prices barring the base fare if a non-refundable ticket is cancelled.
However, passengers can avail this facility only if they cancel their tickets two hours previous to the flight departure.
"At a working group meeting held recently, the airlines have agreed to refund passengers for non-refundable ticket as well.
"The civil aviation secretary has already sent instructions to all of the airlines in this regard,"Air Passenger Association of India (APAI) President D Sudhakar Reddy said.
The decision, that would offer succour towards passengers, was taken at a meeting of the working group of the Civil Aviation Economic Advisory Council which is heading into problems relating to bringing transparency in fixing of airfares and protect buyer interests.
Reddy, a member of the group representing passengers' interests, mentioned the airlines have also been told to appoint a nodal officer to especially deal with this sort of issues.
Apart inside the base fares, fuel surcharge, passenger support fee, user or airport development fee and taxes are another components that an airline charges inside the passengers.
As per the decision, all these components would be refunded in case of cancellation of the ticket.
The decision was taken at a meeting of the six-member Working Group, which comprises all stake holders— airlines, DGCA, buyer groups, market experts, of the Aviation Economic Advisory Council held on January 18 in New Delhi.
Besides passengers, the group comprises representatives of travel agents, Air India ane no-frill carrier IndiGo.
"After discussions, the DGCA gave a presentation towards Council as well as the Working Group on a problem right after which airlines agreed towards proposal," Reddy said.
Reddy mentioned that APAI has also demanded inside the government that it must do away of the support tax on tickets which it introduced inside the last budget.
"We have asked the government to abolish the support tax on air tickets because it is against the International Civil Aviation Organisation norms and not in line with international practice," Reddy said.
Source: DNA India
Author: Yatra.com International
However, passengers can avail this facility only if they cancel their tickets two hours previous to the flight departure.
"At a working group meeting held recently, the airlines have agreed to refund passengers for non-refundable ticket as well.
"The civil aviation secretary has already sent instructions to all of the airlines in this regard,"Air Passenger Association of India (APAI) President D Sudhakar Reddy said.
The decision, that would offer succour towards passengers, was taken at a meeting of the working group of the Civil Aviation Economic Advisory Council which is heading into problems relating to bringing transparency in fixing of airfares and protect buyer interests.
Reddy, a member of the group representing passengers' interests, mentioned the airlines have also been told to appoint a nodal officer to especially deal with this sort of issues.
Apart inside the base fares, fuel surcharge, passenger support fee, user or airport development fee and taxes are another components that an airline charges inside the passengers.
As per the decision, all these components would be refunded in case of cancellation of the ticket.
The decision was taken at a meeting of the six-member Working Group, which comprises all stake holders— airlines, DGCA, buyer groups, market experts, of the Aviation Economic Advisory Council held on January 18 in New Delhi.
Besides passengers, the group comprises representatives of travel agents, Air India ane no-frill carrier IndiGo.
"After discussions, the DGCA gave a presentation towards Council as well as the Working Group on a problem right after which airlines agreed towards proposal," Reddy said.
Reddy mentioned that APAI has also demanded inside the government that it must do away of the support tax on tickets which it introduced inside the last budget.
"We have asked the government to abolish the support tax on air tickets because it is against the International Civil Aviation Organisation norms and not in line with international practice," Reddy said.
Source: DNA India
Author: Yatra.com International
Tuesday, December 7, 2010
Air India, Jet Airways to Lease 35 Airbus Planes
NEW DELHI -- Air India and Jet Airways India Ltd. have agreed to lease 35 planes of European Aeronautic Defence & Space Co. NV's Airbus from leasing companies.
Flag carrier Air India has decided to lease 10 A330 planes and 15 A320s, Airbus said inside a statement late Monday. Jet Airways, India's biggest carrier by industry share, will lease 10 A330s.
Airbus said the 25 planes that Air India plans to eat on lease have a list acquisition cost of $3.1 billion, while the 10 planes chosen by Jet Airways have a list acquisition cost of $1.9 billion.
A spokesman for Airbus said the deals are, however, possibly being done directly on the leasing firms and are unlikely to give new firm to Airbus.
"The carriers will choose an engine supplier and also a leasing business during the near future," Airbus said.
Indian carriers have started to eat new planes on lease or order new aircraft as demand for air travel rebounds during the global economic slowdown of 2008 and early 2009. Budget carrier SpiceJet Ltd. last month ordered 30 turboprop aircraft from Canada's Bombardier Inc. for $900 million, adding to a $2.7 billion order for 30 Boeing Co.'s 737-800 planes placed in July. An additional budget airline IndiGo has received government approval to buy 150 Airbus planes.
Ragini Chopra, a spokeswoman for Mumbai-based Jet, said the airline is planning to eat the 10 A330s on lease to expand its international operations.
"We are in talks with numerous leasing firms for your aircraft," she said, but declined to elaborate.
The first two A330s are going to be leased among January and June 2011, while the sleep are going to be leased in 2012 for use on long-haul routes, said another Jet Airways executive, who declined being named.
"We are finalising our international expansion plans," the executive said. "We think demand is rising and this really is the proper time to deploy additional capacity."
Jet has already leased four ATR turboprop planes during the aircraft-leasing arm of U.K.-based Investec PLC. A couple of additional ATRs will join the fleet next month.
Air India executives weren't promptly accessible for comment.
Flag carrier Air India has decided to lease 10 A330 planes and 15 A320s, Airbus said inside a statement late Monday. Jet Airways, India's biggest carrier by industry share, will lease 10 A330s.
Airbus said the 25 planes that Air India plans to eat on lease have a list acquisition cost of $3.1 billion, while the 10 planes chosen by Jet Airways have a list acquisition cost of $1.9 billion.
A spokesman for Airbus said the deals are, however, possibly being done directly on the leasing firms and are unlikely to give new firm to Airbus.
"The carriers will choose an engine supplier and also a leasing business during the near future," Airbus said.
Indian carriers have started to eat new planes on lease or order new aircraft as demand for air travel rebounds during the global economic slowdown of 2008 and early 2009. Budget carrier SpiceJet Ltd. last month ordered 30 turboprop aircraft from Canada's Bombardier Inc. for $900 million, adding to a $2.7 billion order for 30 Boeing Co.'s 737-800 planes placed in July. An additional budget airline IndiGo has received government approval to buy 150 Airbus planes.
Ragini Chopra, a spokeswoman for Mumbai-based Jet, said the airline is planning to eat the 10 A330s on lease to expand its international operations.
"We are in talks with numerous leasing firms for your aircraft," she said, but declined to elaborate.
The first two A330s are going to be leased among January and June 2011, while the sleep are going to be leased in 2012 for use on long-haul routes, said another Jet Airways executive, who declined being named.
"We are finalising our international expansion plans," the executive said. "We think demand is rising and this really is the proper time to deploy additional capacity."
Jet has already leased four ATR turboprop planes during the aircraft-leasing arm of U.K.-based Investec PLC. A couple of additional ATRs will join the fleet next month.
Air India executives weren't promptly accessible for comment.
Monday, November 29, 2010
Jet Airways Announces to Launch Daily Non-Stop Flight From Milano Malpensa To New Delhi
Jet Airways, India’s premier international airline, today announced that it will commence daily non-stop flights from Milano Malpensa to New Delhi from December 5th, 2010 in code share with Alitalia, producing Milan the twenty-fourth international destination on Jet Airways’ network.
Naresh Goyal, Chairman, Jet Airways, said: “We consider Milan a strategic destination, getting the company and commercial center of Italy. India, an emerging marketplace with a booming economy is a youthful and vibrant marketplace that holds beneficial potential. Jet Airways and I consume pride in bringing a taste of Modern India to Italy. Based on our experience in Europe, with a direct flight we expect the marketplace to grow by 30%. During the very first month we already have 89% occupancy on the new flight from Milan. We are therefore incredibly optimistic about this flight. Our product and our service inside air and on ground are anything incredibly special, warm and distinctive and we’re certain that the Italian marketplace will enjoy this”.
Rocco Sabelli, Managing Director of Alitalia, said: “We are incredibly happy to jobs with Jet Airways. This agreement represents a incredibly essential development for Alitalia. Connecting Italy from the principal worldwide destinations, reinforcing our leadership position inside Italian marketplace and our offer of intercontinental flights from Milan is a further step in our strategy. Alitalia stands out as the very first SkyTeam airline for getting signed an agreement with Jet Airways”.
“I am particularly happy from the new daily direct flight to Milano Malpensa – New Delhi operated by the largest Indian airline. This link will support to strengthen the relationships in between our market, wherever only the North West recorded 50% of exports to India, and a single from the major globe powers with powerful economic growth” – mentioned Giuseppe Bonomi, Chairman, SEA Milan Airports – “Malpensa confirms its leadership inside relationship with East Asia thanks also to this new flight activated inside a short time thanks our trade policy that has brought sure results: today Malpensa connects 168 destinations, reaching 86 cities outside Europe and 110 airlines”.
Jet Airways’ new flight, the only a single to offer a daily direct link in between Italy and India will connect Milan, the fashion and type capital from the world, to historic New Delhi, the capital of India.
Effective 5th December the flights will operate towards the right after schedule:
9W 141 / AZ 7082 Milano Malpensa/New Delhi: 21.25-09.55*
9W 142 / AZ 7083 New Delhi/Milano Malpensa: 13.20-18.00 (*the next day)
The airline will likely be utilizing its contemporary Airbus 330-200 aircraft configured in a couple of classes, with 30 seats in Première (Business Class seats that can be converted to 180° lie-flat beds) and 190 seats in Economy (ergonomically created seats for much more space and comfort).
Jet Airways’ and Alitalia’s guests will likely be able to experience the new state-of-the-art Terminal 3 of New Delhi Airport and achieve over 42 destinations on Jet Airways network in India. New Delhi, thanks to its strategic geographical location in between Italy and Asia, is an ideal gateway for guests from Italy to travel beyond India to other Jet Airways destinations just like Colombo, Bangkok, Kathmandu, and Dhaka. The airline will thus provide its guests a seamless travel experience as soon as transiting at New Delhi Airport.
Jet Airways Konnect
Naresh Goyal, Chairman, Jet Airways, said: “We consider Milan a strategic destination, getting the company and commercial center of Italy. India, an emerging marketplace with a booming economy is a youthful and vibrant marketplace that holds beneficial potential. Jet Airways and I consume pride in bringing a taste of Modern India to Italy. Based on our experience in Europe, with a direct flight we expect the marketplace to grow by 30%. During the very first month we already have 89% occupancy on the new flight from Milan. We are therefore incredibly optimistic about this flight. Our product and our service inside air and on ground are anything incredibly special, warm and distinctive and we’re certain that the Italian marketplace will enjoy this”.
Rocco Sabelli, Managing Director of Alitalia, said: “We are incredibly happy to jobs with Jet Airways. This agreement represents a incredibly essential development for Alitalia. Connecting Italy from the principal worldwide destinations, reinforcing our leadership position inside Italian marketplace and our offer of intercontinental flights from Milan is a further step in our strategy. Alitalia stands out as the very first SkyTeam airline for getting signed an agreement with Jet Airways”.
“I am particularly happy from the new daily direct flight to Milano Malpensa – New Delhi operated by the largest Indian airline. This link will support to strengthen the relationships in between our market, wherever only the North West recorded 50% of exports to India, and a single from the major globe powers with powerful economic growth” – mentioned Giuseppe Bonomi, Chairman, SEA Milan Airports – “Malpensa confirms its leadership inside relationship with East Asia thanks also to this new flight activated inside a short time thanks our trade policy that has brought sure results: today Malpensa connects 168 destinations, reaching 86 cities outside Europe and 110 airlines”.
Jet Airways’ new flight, the only a single to offer a daily direct link in between Italy and India will connect Milan, the fashion and type capital from the world, to historic New Delhi, the capital of India.
Effective 5th December the flights will operate towards the right after schedule:
9W 141 / AZ 7082 Milano Malpensa/New Delhi: 21.25-09.55*
9W 142 / AZ 7083 New Delhi/Milano Malpensa: 13.20-18.00 (*the next day)
The airline will likely be utilizing its contemporary Airbus 330-200 aircraft configured in a couple of classes, with 30 seats in Première (Business Class seats that can be converted to 180° lie-flat beds) and 190 seats in Economy (ergonomically created seats for much more space and comfort).
Jet Airways’ and Alitalia’s guests will likely be able to experience the new state-of-the-art Terminal 3 of New Delhi Airport and achieve over 42 destinations on Jet Airways network in India. New Delhi, thanks to its strategic geographical location in between Italy and Asia, is an ideal gateway for guests from Italy to travel beyond India to other Jet Airways destinations just like Colombo, Bangkok, Kathmandu, and Dhaka. The airline will thus provide its guests a seamless travel experience as soon as transiting at New Delhi Airport.
Jet Airways Konnect
Friday, November 26, 2010
Jet Airways on a hiring mode
Mumbai: A controversy pops up among the two leading airline industries which include Jet Airways and Kingfisher Airlines wherein the latter has blamed the former of recruiting 50 Kingfisher benched pilots as co-pilots. Jet Airways denied the recruitment and commented that Kingfisher has voluntarily enable individuals pilots off due to no immediate requirement.
The Naresh Goyal controlled India's largest personalized carrier by marketplace share also plans to hire some experienced pilots as commanders within the competitor. The very first batch in the 29 benched pilots has already joined them. The airline has also confirmed the amount of pilots sent.
Due for the assumption of facing an opposition within the management, the airline has planned to maintain a meeting on 30th of November, so as to discuss the new recruitments. "How can we permit pilots to arrive and fly with us once our personal pilots aren't given their due, aren't promoted and the salaries have not been reinstated post the revival," stated a disgruntled pilot, who did not would like to be called due to the sensitivity in the matter.
Due to this kind of reactions, a huge opposition is expected within the serving pilots to your newly recruited pilots.
With the growing demand for air travel, Jet nevertheless has hiring plans as based on the marketplace estimates, Air travel is set to grow by 20-25% within the year ending March 31, 2011.
Although Jet leads with a marketplace share of 26.2% followed by Kingfisher of 19%, Jet Airways has had no choice but to hop pilots from its rivals Air India and Kingfisher since the manpower resources have not kept pace with its growth in aviation industries. Pilots must be trained with an experience of a few flying hours before their recruitment.
For the newly recruited pilots from Kingfisher, just a week's long training is adequate to your transition to fly Jet's A330 from Kingfisher's Airbus A320. As informed by the marketplace executives, Jet's management is looking forward to hiring around 300 much more commanders more than the next three years who have more than 3000 hours of flying experience,although the airline entirely declined to give the definite figure.
Source: Silicon India
The Naresh Goyal controlled India's largest personalized carrier by marketplace share also plans to hire some experienced pilots as commanders within the competitor. The very first batch in the 29 benched pilots has already joined them. The airline has also confirmed the amount of pilots sent.
Due for the assumption of facing an opposition within the management, the airline has planned to maintain a meeting on 30th of November, so as to discuss the new recruitments. "How can we permit pilots to arrive and fly with us once our personal pilots aren't given their due, aren't promoted and the salaries have not been reinstated post the revival," stated a disgruntled pilot, who did not would like to be called due to the sensitivity in the matter.
Due to this kind of reactions, a huge opposition is expected within the serving pilots to your newly recruited pilots.
With the growing demand for air travel, Jet nevertheless has hiring plans as based on the marketplace estimates, Air travel is set to grow by 20-25% within the year ending March 31, 2011.
Although Jet leads with a marketplace share of 26.2% followed by Kingfisher of 19%, Jet Airways has had no choice but to hop pilots from its rivals Air India and Kingfisher since the manpower resources have not kept pace with its growth in aviation industries. Pilots must be trained with an experience of a few flying hours before their recruitment.
For the newly recruited pilots from Kingfisher, just a week's long training is adequate to your transition to fly Jet's A330 from Kingfisher's Airbus A320. As informed by the marketplace executives, Jet's management is looking forward to hiring around 300 much more commanders more than the next three years who have more than 3000 hours of flying experience,although the airline entirely declined to give the definite figure.
Source: Silicon India
Kingfisher Gets Okay for Debt-Equity Swap
Kingfisher Airlines' board has approved a debt recast plan that seeks to convert some of its debt into equity. The move will aid the company reduce its interest burden and stem losses.
Kingfisher will convert lenders' loans of as much as Rs. 1355 crore into shares. It also plans to convert founders' debt of as much as Rs. 648 crore into share capital. Kingfisher's balance loans is also repaid to lenders over nine years with a moratorium of a couple of years, it added. The airline plans to problem convertible and redeemable shares to lending banks as well as founder entities in line with its debt recast plan.
It plans to problem as much as 57.5 crore redeemable preference shares and as much as 78 crore convertible preference shares to its consortium of lenders. Its board also approved issuing as much as 64.8 crore convertible preference shares to founder entities United Breweries (Holdings) and to Kingfisher Finvest India. Under the debt restructuring package, lenders can also sanction a lot more funds as well as non-fund-based facilities, Kingfisher said. The package firmed up following a one-time relaxation in restructuring guidelines sanctioned by the Reserve Bank of India, the airline said.
Tata Motors reportedly plans to set up a second factory in Bangladesh, one of its main export destinations for commercial vehicles, in six months to cater to growing sales of smaller and light commercial vehicles.
Separately, Tata Motors reportedly plans to launch compressed natural gas (CNG)-powered trucks within the medium and heavy segments for your domestic marketplace within a year.
Communications Minister Kapil Sibal mentioned on Thursday, 25 November 2010 cellular number portability across the country is going to be implemented from 20 January 2011. Mobile number portability, which allows users to keep their phone number even if they switch operators, was to be introduced in all telecoms zones by 31 March 2010.
The board of Money Matters Financial Services will meet today, 26 November 2010, to select the futures course of action following the Central Bureau of Investigation (CBI) on Wednesday, 24 November 2010 arrested the Money Matters' chairman and a couple of other officials and also the senior executives of three state-run banks and other financial organizations inside a loan bribery case.
In a statement towards stock exchanges, Money Matters mentioned the board meeting had been called to discuss the matter in detail and select the next course of action. The CBI has mentioned that Money Matters acted being a mediator and facilitator of corporate loans and other facilities by bribing bank officials.
Money Matters mentioned the company will like to assure its shareholders, buyers and company associates that the company firmly believes in ethical practices in all company dealings. The company is fully co-operating with CBI and within the legal proceedings, it said.
Paras Pharmaceuticals has reportedly shortlisted the bids of Piramal Healthcare, Emami and unlisted Taisho Pharmaceutical Co to sell a controlling stake. As per reports, Emami could emerge the winner with its final bid of Rs. 2950 crore.
SKS Microfinance has reportedly occur under the scanner on the Insurance Regulatory Authority of India for deviating from guidelines set by the regulator on commissions and claim settlements.
Glodyne Technoserve's board approved sub-division of equity shares of Rs. 10 each into equity shares of face significance Rs. 6 each. The board also approved raising funds through equity and other methods from domestic and overseas markets.
Pratibha Industries has raised Rs. 50 crore through equity shares issued to Van Dyck, a unit of ChrysCapital V LLC. The company issued 38 lakh equity shares on preferential basis at Rs. 92 a piece to Van Dyck, it said. In addition, it issued 16.3 lakh compulsory convertible participatory preference shares at Rs. 92 a piece to Van Dyck, it added.
Soruce: India Infoline
Kingfisher will convert lenders' loans of as much as Rs. 1355 crore into shares. It also plans to convert founders' debt of as much as Rs. 648 crore into share capital. Kingfisher's balance loans is also repaid to lenders over nine years with a moratorium of a couple of years, it added. The airline plans to problem convertible and redeemable shares to lending banks as well as founder entities in line with its debt recast plan.
It plans to problem as much as 57.5 crore redeemable preference shares and as much as 78 crore convertible preference shares to its consortium of lenders. Its board also approved issuing as much as 64.8 crore convertible preference shares to founder entities United Breweries (Holdings) and to Kingfisher Finvest India. Under the debt restructuring package, lenders can also sanction a lot more funds as well as non-fund-based facilities, Kingfisher said. The package firmed up following a one-time relaxation in restructuring guidelines sanctioned by the Reserve Bank of India, the airline said.
Tata Motors reportedly plans to set up a second factory in Bangladesh, one of its main export destinations for commercial vehicles, in six months to cater to growing sales of smaller and light commercial vehicles.
Separately, Tata Motors reportedly plans to launch compressed natural gas (CNG)-powered trucks within the medium and heavy segments for your domestic marketplace within a year.
Communications Minister Kapil Sibal mentioned on Thursday, 25 November 2010 cellular number portability across the country is going to be implemented from 20 January 2011. Mobile number portability, which allows users to keep their phone number even if they switch operators, was to be introduced in all telecoms zones by 31 March 2010.
The board of Money Matters Financial Services will meet today, 26 November 2010, to select the futures course of action following the Central Bureau of Investigation (CBI) on Wednesday, 24 November 2010 arrested the Money Matters' chairman and a couple of other officials and also the senior executives of three state-run banks and other financial organizations inside a loan bribery case.
In a statement towards stock exchanges, Money Matters mentioned the board meeting had been called to discuss the matter in detail and select the next course of action. The CBI has mentioned that Money Matters acted being a mediator and facilitator of corporate loans and other facilities by bribing bank officials.
Money Matters mentioned the company will like to assure its shareholders, buyers and company associates that the company firmly believes in ethical practices in all company dealings. The company is fully co-operating with CBI and within the legal proceedings, it said.
Paras Pharmaceuticals has reportedly shortlisted the bids of Piramal Healthcare, Emami and unlisted Taisho Pharmaceutical Co to sell a controlling stake. As per reports, Emami could emerge the winner with its final bid of Rs. 2950 crore.
SKS Microfinance has reportedly occur under the scanner on the Insurance Regulatory Authority of India for deviating from guidelines set by the regulator on commissions and claim settlements.
Glodyne Technoserve's board approved sub-division of equity shares of Rs. 10 each into equity shares of face significance Rs. 6 each. The board also approved raising funds through equity and other methods from domestic and overseas markets.
Pratibha Industries has raised Rs. 50 crore through equity shares issued to Van Dyck, a unit of ChrysCapital V LLC. The company issued 38 lakh equity shares on preferential basis at Rs. 92 a piece to Van Dyck, it said. In addition, it issued 16.3 lakh compulsory convertible participatory preference shares at Rs. 92 a piece to Van Dyck, it added.
Soruce: India Infoline
Friday, November 19, 2010
Air India sacks COO with unsafe track record
Pawan Arora has been sacked as the chief operating officer of Air India Express, the low cost international arm of Air India. The decision was taken by the full AI board, which met the following on Thursday. Sources mentioned AI COO Gustav Baldauf has protested for the civil aviation ministry against Arora's removal.
"Baldauf selected Arora and is unhappy in the decision to sack him. We have told him it's up to him to decide what he wants to do," a top ministry official said.
Another high-profile appointment — of Stefan Sukumar as chief of training — is also under the scanner, having a two-member committee getting formed to glimpse into the "process of recruitment" and submit a report for the board within a fortnight.
In an action-packed day, AI CMD Arvind Jadhav and three independent directors — Air Chief Marshal (retd) Fali H Major, FICCI secretary general Amit Mitra and Ambuja Realty chairman Harsh Neotia — met civil aviation minister Praful Patel just before proceeding for the board meeting.
Thereafter, the Board unanimously decided to sack Arora, over a grounds that a number of issues about him weren't known at the time of his appointment — as reported very first by HT.
Arora joined AI on October 11. On October 22, HT exposed the truth how the Director General of Civil Aviation had removed him from four key flight-safety posts just before he joined the national carrier.
On November 1, AI's independent directors met the PM's main secretary TKA Nair to tell him they have been "misguided" and "kept from the dark" about Arora's record.
It also emerged that Arora was the chief reference for Baldauf, inside a report by a headhunting agency hired to short-list candidates to your AI COO's post.
Within months of Baldauf taking over, Arora was produced AI Express COO. Each earlier worked together in Jet Airways Konnect.
"Baldauf selected Arora and is unhappy in the decision to sack him. We have told him it's up to him to decide what he wants to do," a top ministry official said.
Another high-profile appointment — of Stefan Sukumar as chief of training — is also under the scanner, having a two-member committee getting formed to glimpse into the "process of recruitment" and submit a report for the board within a fortnight.
In an action-packed day, AI CMD Arvind Jadhav and three independent directors — Air Chief Marshal (retd) Fali H Major, FICCI secretary general Amit Mitra and Ambuja Realty chairman Harsh Neotia — met civil aviation minister Praful Patel just before proceeding for the board meeting.
Thereafter, the Board unanimously decided to sack Arora, over a grounds that a number of issues about him weren't known at the time of his appointment — as reported very first by HT.
Arora joined AI on October 11. On October 22, HT exposed the truth how the Director General of Civil Aviation had removed him from four key flight-safety posts just before he joined the national carrier.
On November 1, AI's independent directors met the PM's main secretary TKA Nair to tell him they have been "misguided" and "kept from the dark" about Arora's record.
It also emerged that Arora was the chief reference for Baldauf, inside a report by a headhunting agency hired to short-list candidates to your AI COO's post.
Within months of Baldauf taking over, Arora was produced AI Express COO. Each earlier worked together in Jet Airways Konnect.
Thursday, November 18, 2010
Air India pilot's 'sleep inertia' caused crash
The senior pilot of an Air India jet that crashed in May was asleep for most with the flight after which produced critical errors since he was disoriented after waking up, based on Indian news reports.
The crash on May 22 in Mangalore, India, killed 158 men and women after the jet overran the runway and plunged off a cliff.
Capt. Zlatko Glusica was captured loudly snoring on a cockpit recorder, the accident investigation found, based on the Hindustan Times. The Associated Press confirmed the account from a federal government official who spoke on condition of anonymity since the report had not been presented towards the Indian Parliament.
After waking, Glusica did not respond when his co-pilot H.S. Ahluwalia repeatedly urged him to abort the landing.
Indian investigators stated that Glusica was suffering from "sleep inertia," a condition that can be deeply disorienting when an individual is awoken suddenly from deep sleep, based on the reports.
The accident may be the most clear-cut instance yet of the crash caused by a tired pilot and might affect the debate during the United States more than how to adjust pilot schedules to reduce fatigue, aviation safety experts say.
"This is almost a smoking gun," stated Curtis Graeber, a fatigue expert and consultant who specializes in pilot schedules.
The U.S. National Transportation Safety Board has observed that fatigue played a role in several accidents, but has had to rely on circumstantial evidence. In the crash of the commuter plane on Feb. 12, 2009, near Buffalo that killed 50 people, investigators raised concerns that each pilots had not slept the night before, but stopped short of citing fatigue as being a cause.
Graeber and others could not recall a case wherever a pilot involved in an accident had been recorded even though asleep.
Two pilots on board a go! airlines flight in Hawaii on Feb. 13, 2007, fell asleep for at least 18 minutes, and their commuter jet flew past its destination, but the crew awoke in time to return to your safe landing.
In June 2008, an Air India aircraft headed to Mumbai flew past its destination with each pilots asleep. They landed after being awakened by air-traffic controllers.
The Federal Aviation Administration, under orders from Congress to address pilot fatigue, last September unveiled sweeping changes that would require longer rest periods for pilots. The proposal has met fierce opposition from airlines and some pilot unions.
John Cox, a retired airline pilot who works as being a safety consultant, stated he expects the Air India crash to be cited during the debate more than U.S. regulations.
Cox also cautioned that other factors might be blamed for ones India crash. For example, the co-pilot could have woken the captain earlier and been far more assertive, he said.
"This flies during the face of professional training," Cox said. "What has happened right here is tough to understand."
Cox and Graeber stated that the factors identified during the accident appear unlikely to come during the USA, wherever co-pilots are trained to speak up if they have safety concerns.
Source:USA Today
Yatra.com
The crash on May 22 in Mangalore, India, killed 158 men and women after the jet overran the runway and plunged off a cliff.
Capt. Zlatko Glusica was captured loudly snoring on a cockpit recorder, the accident investigation found, based on the Hindustan Times. The Associated Press confirmed the account from a federal government official who spoke on condition of anonymity since the report had not been presented towards the Indian Parliament.
After waking, Glusica did not respond when his co-pilot H.S. Ahluwalia repeatedly urged him to abort the landing.
Indian investigators stated that Glusica was suffering from "sleep inertia," a condition that can be deeply disorienting when an individual is awoken suddenly from deep sleep, based on the reports.
The accident may be the most clear-cut instance yet of the crash caused by a tired pilot and might affect the debate during the United States more than how to adjust pilot schedules to reduce fatigue, aviation safety experts say.
"This is almost a smoking gun," stated Curtis Graeber, a fatigue expert and consultant who specializes in pilot schedules.
The U.S. National Transportation Safety Board has observed that fatigue played a role in several accidents, but has had to rely on circumstantial evidence. In the crash of the commuter plane on Feb. 12, 2009, near Buffalo that killed 50 people, investigators raised concerns that each pilots had not slept the night before, but stopped short of citing fatigue as being a cause.
Graeber and others could not recall a case wherever a pilot involved in an accident had been recorded even though asleep.
Two pilots on board a go! airlines flight in Hawaii on Feb. 13, 2007, fell asleep for at least 18 minutes, and their commuter jet flew past its destination, but the crew awoke in time to return to your safe landing.
In June 2008, an Air India aircraft headed to Mumbai flew past its destination with each pilots asleep. They landed after being awakened by air-traffic controllers.
The Federal Aviation Administration, under orders from Congress to address pilot fatigue, last September unveiled sweeping changes that would require longer rest periods for pilots. The proposal has met fierce opposition from airlines and some pilot unions.
John Cox, a retired airline pilot who works as being a safety consultant, stated he expects the Air India crash to be cited during the debate more than U.S. regulations.
Cox also cautioned that other factors might be blamed for ones India crash. For example, the co-pilot could have woken the captain earlier and been far more assertive, he said.
"This flies during the face of professional training," Cox said. "What has happened right here is tough to understand."
Cox and Graeber stated that the factors identified during the accident appear unlikely to come during the USA, wherever co-pilots are trained to speak up if they have safety concerns.
Source:USA Today
Yatra.com
Tuesday, November 16, 2010
Kingfisher Airlines cuts losses by 45%
Private carrier Kingfisher Airlines has reduced its September quarter losses by 45 per cent to Rs 231 crore as against a loss of Rs 418.77 crore inside the exact same quarter a year ago. The airline saw a 24 per cent improvement in operating revenues, driven by a growth in aviation demand, focus on improving network profitability, and various cost reduction initiatives.
Sales have grown 24 per cent to Rs 1,382.72 crore when compared with Rs 1,112.70 crore. Meanwhile, shares in the business gained 2.06 per cent to close the day at Rs 81.65 on a Bombay Stock Exchange (BSE) on Monday.
Domestic revenues stood at Rs 1,038 crore compared with Rs 989 crore in Q2 FY10. This was a 5 per cent improve in income despite 18 per cent reduction in ability (seats offered). International revenues have been at Rs 345 crore compared with Rs 124 crore in Q2 FY10.
“This performance was despite 11 per cent reduction inside the quantity of departures. The overall EBITDA margin to your quarter improved to a certain 4 per cent inside the unfavorable 24 per cent reported inside the exact same quarter last year. These results have been delivered despite an estimated loss of more than Rs 73 crore because of unplanned grounding of aircraft. Adjusted for this loss, the EBITDA margin would be 8 per cent to your quarter,” said the airline in a filing towards BSE.
Source: Indian Express
Sales have grown 24 per cent to Rs 1,382.72 crore when compared with Rs 1,112.70 crore. Meanwhile, shares in the business gained 2.06 per cent to close the day at Rs 81.65 on a Bombay Stock Exchange (BSE) on Monday.
Domestic revenues stood at Rs 1,038 crore compared with Rs 989 crore in Q2 FY10. This was a 5 per cent improve in income despite 18 per cent reduction in ability (seats offered). International revenues have been at Rs 345 crore compared with Rs 124 crore in Q2 FY10.
“This performance was despite 11 per cent reduction inside the quantity of departures. The overall EBITDA margin to your quarter improved to a certain 4 per cent inside the unfavorable 24 per cent reported inside the exact same quarter last year. These results have been delivered despite an estimated loss of more than Rs 73 crore because of unplanned grounding of aircraft. Adjusted for this loss, the EBITDA margin would be 8 per cent to your quarter,” said the airline in a filing towards BSE.
Source: Indian Express
Wednesday, September 29, 2010
Air-Traffic Growth Slows, Suggesting Peak Has Passed : IATA
Air-traffic growth slowed for a second month in August, suggesting that a recovery in demand for flights may have peaked, the International Air Transport Association said today.
The gain in passenger traffic eased to 6.4 percent compared with a year earlier, down from 9.5 percent in July and a high of 11.9 percent in June. The figure matches the lowest growth rate this year in January, with the exception of April, when a volcanic ash cloud from Iceland closed European airports.
IATA more than tripled its forecast for full-year airline earnings to $8.9 billion on Sept. 21, citing the strength of a recovery in demand, while cautioning that profit would fall back in 2011 as cuts to state spending sap consumer confidence.
“The rapid improvements that we saw earlier this year are behind us,” IATA Chief Executive Officer Giovanni Bisignani said in today’s statement, predicting “a tougher end to 2010 as government stimulus monies run out.”
Traffic grew fastest in the Middle East in August, rising 12 percent, with Europe expanding 5 percent, North America 5.3 percent and the Asian-Pacific region 6.2 percent, IATA said.
Cargo-traffic growth may have peaked in May, when it increased 34 percent, today’s figures suggest, with August’s advance of almost 20 percent the lowest increase since then.
“The bounce from restocking is over,” Bisignani said. “We do not yet see the strong consumer confidence needed to sustain the expansion with spending.”
Source: Bloomberg
The gain in passenger traffic eased to 6.4 percent compared with a year earlier, down from 9.5 percent in July and a high of 11.9 percent in June. The figure matches the lowest growth rate this year in January, with the exception of April, when a volcanic ash cloud from Iceland closed European airports.
IATA more than tripled its forecast for full-year airline earnings to $8.9 billion on Sept. 21, citing the strength of a recovery in demand, while cautioning that profit would fall back in 2011 as cuts to state spending sap consumer confidence.
“The rapid improvements that we saw earlier this year are behind us,” IATA Chief Executive Officer Giovanni Bisignani said in today’s statement, predicting “a tougher end to 2010 as government stimulus monies run out.”
Traffic grew fastest in the Middle East in August, rising 12 percent, with Europe expanding 5 percent, North America 5.3 percent and the Asian-Pacific region 6.2 percent, IATA said.
Cargo-traffic growth may have peaked in May, when it increased 34 percent, today’s figures suggest, with August’s advance of almost 20 percent the lowest increase since then.
“The bounce from restocking is over,” Bisignani said. “We do not yet see the strong consumer confidence needed to sustain the expansion with spending.”
Source: Bloomberg
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