5 Minutes Read

Nitin Gadkari wants R&D body focused on construction sector

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Gadkari also reiterated the importance of bio LNG ,Bio CNG and Hydrogen as alternate fuels for saving costs and reducing pollution.

Union Minister for Roads Transport and Highways Nitin Gadkari on Friday said there is a need for a research and development organisation to take the Indian construction equipment sector into the future.

“…the ministry will support in the making of this organisation which can be qualitatively helpful for development of futuristic technology,” he said while addressing Indian Construction Equipment Manufacturers’ Association (ICEMA) Annual Session 2022.

Gadkari also added that technology is not useful without economic viability and asked manufacturers to concentrate on fuel efficiency. He also reiterated the importance of bio LNG ,Bio CNG and Hydrogen as alternate fuels for saving costs and reducing pollution.

“It is time to change and manufacturing of JCBs on electric should be started,” Gadkari said, while adding that skilled manpower, appropriate training and road safety are important for long-term planning.

Also read: Sunteck Realty falls despite a record 89% jump in April-June pre-sales

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Aviation giant Safran to set up its largest facility for engine maintenance and repair in India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The Indian facility will cater to the engine maintenance for aircraft from all major airlines including IndiGo, Vistara, SpiceJet, GoFirst, Air India, AirAsia India and the upcoming carrier Akasa Air as well.

Aerospace major Safran has decided to set up its largest facility for maintenance, repair and overhaul (MRO) of engines in India. Safran has zeroed on Hyderabad for the mega facility which will be able to service around 300 engines every year.

The facility situated close to the Hyderabad airport will come into operation in 2025, Safran officials said.

This is the first facility for engine repair and maintenance in India, and third for Safran globally after France and Mexico.

The Indian facility will cater to the engine maintenance for aircraft from all major airlines including IndiGo, Vistara, SpiceJet, GoFirst, Air India, AirAsia India and the upcoming carrier Akasa Air as well. Additionally, this facility will also cater to the engine repair requirement for the airlines in South East Asian and Middle East regions, the officials said.

“Currently there are over 600 CFM56 and LEAP engines in use by various airlines of India. This number will grow to nearly 1,500 in the future,” a Safran official said.

The MRO facility will initially offer annual capacity of 250 to 300 engine shop visits.

The LEAP and its predecessor, the CFM56, now power over 330 Airbus A320/A320neo and Boeing 737/737 MAX airplanes deployed by
airlines in the Indian sub-continent. More than 1,500 LEAP engines are currently on order in the region.

CFM56 engines power A320 and Boeing 737. LEAP engines power A320neo and Boeing 737MAX.

The Safran Aircraft Engines plant, spanning 15,000 square meters (162,000 sq ft), will make rotating parts for the LEAP engine. This will eventually employ 275 people. Safran Electrical & Power’s plant, located in the same airport zone as the Safran Aircraft Engines plant, makes wiring for LEAP engines and the Rafale fighter. It will employ 200 people.

On being asked the reason as to why the company chose to set up the MRO facility in India, Safran CEO Olivier Andriès said that the earlier GST regime was not favourable to them but with the recent changes, it now makes economic sense for the company to go ahead with the MRO facility in the country.

“Tax regime on GST was a problem… We had explained that to the central government. We were taxed twice… It was making it uncompetitive. We told them that if you change the tax regime then we will come. Now, we are going to be taxed once not twice,” Andriès said.

The domestic aircraft maintenance, repair and overhaul (MRO) industry had received a major respite in the month of March when the GST Council decided to lower the rate to 5 percent from 18 percent earlier. The step was directed towards creating a level-playing field for local businesses as compared to overseas MRO companies, who used to attract over 90 percent of business due to lower taxation.

While the engine repair facility of Safran will become operational in 2025, two other facilities at the Hyderabad campus have already started operating. One of them is for manufacturing rotating parts and the other is for wiring manufacturing. Once manufactured, the rotating parts and the wiring parts are to be shipped to the assembly lines in the US and France.

Safran further added that the company is going to increase footprint in India as it is a big market for the company. The company has received some support from the government on the capex part.

“We want to accompany India for growth of commercial aviation market and we want to partner India in ‘Make in India’ in defence segment,” Andriès said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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After pilots, discontentment brews among IndiGo cabin crew

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

More than two years of less wages and more hardships later, the discontentment among the employees at various airlines is coming to the fore and what happened over the past weekend at IndiGo portrays exactly that. On July 2, the Twitter timeline of IndiGo was swamped with complaints from passengers across the nation. Such is the mammoth network of the giant carrier that when one flight of IndiGo sneezes, the entire network catches the cold.

The global aviation sector has faced countless headwinds over the past two years due to the challenges arising out of the COVID-19 pandemic. Airlines had only one focus — to survive.

Airlines left no stone unturned to cut costs as much as possible, even at the expense of staff costs. This was true for airlines in India as well.

However, more than two years of less wages and more hardships later, the discontentment among employees at various airlines are coming to the fore. What happened over the past weekend at IndiGo portrays exactly that.

On July 2, IndiGo’s Twitter timeline was swamped with complaints from passengers. Such is the mammoth network of the giant carrier that when one flight of IndiGo sneezes, the entire network catches a cold.

Also Read | Several IndiGo flights delayed nationwide, DGCA seeks explanation

The airline blamed the situation on uncontrollable factors but did not give more details. It was not long before passengers realised that the issue was with the non-availability of cabin crew. Hundreds of passengers were inconvenienced, facing disruption in their travel plans and one late flight threw flight schedules, airports, and passengers into chaos and confusion.

On July 2, nearly 55 percent of IndiGo flights were late and on July 3, around 30 percent of the airline’s flights were delayed. A flight is considered to be delayed if it is departing beyond 15 minutes of its departure time.

As a result, IndiGo, which operates around 1,600 flights a day, faced one of its worst on-time performances on the weekend. The sudden non-availability of cabin crew members in such large numbers clearly showed that there is immense discontentment regarding the current pay and allowance which is not adequately compensating for the tiredness and long working hours that they have to endure, especially as travel has started to cross pre-COVID level in the domestic market, several people in the know said.

Some experts are viewing this case of mass sick leave as a form of silent protest by the cabin crew. This is not the first time that the airline has witnessed this situation in recent times.

In April, some pilots protested against the delay in the restoration of their pre-COVID salaries. Disciplinary action was initiated against some pilots who were planning to organise a strike on the issue. It is important to note that this development had taken place after the airline announced an 8 percent hike in salaries of pilots from April 1. However, the pilots reasoned that they would still have to face a 20 percent cut.

Industry experts say there is an urgency among employees to seek better remuneration. This was visible from the large number of cabin crew staff who went on mass sick leave on July 2 as they wanted to attend a recruitment drive by Air India, a full-service carrier recently acquired by the Tata Group.

“It is not just Air India, other airlines are also as attractive and as several airlines have resumed hiring this year, employees have also become proactive and are keeping an eye out for opportunities with better pay and more allowances,” a person in the know of the matter said.

The Directorate General of Civil Aviation has taken note of the situation and has sought a response from the airline over the reason behind the delays. The airline has not issued any official statement on the matter so far.

Also Read | IndiGo cabin crew members go on mass sick leave over pay and allowances

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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DGCA to continue spot checks for unserviceable seats

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Following these incidents, the regulator had carried out a thorough inspection over a period of one month where the regulator had found minor deficiencies in the aircraft maintenance across nearly 250 aircraft of the domestic airlines.

The Directorate General of Civil Aviation (DGCA) will continue conducting spot checks, night surveillance, and inspection of aircraft for unserviceable seats, senior officials told CNBC-TV18.

The issues related to aircraft maintenance had come into focus in the month of May after a series of incidents were reported whereby passengers had complained of several deficiencies in the aircraft cabin including broken seat handles, torn seat covers, and defects in window panels among others.

Following these incidents, the regulator had carried out a thorough inspection over a period of one month where the regulator had found minor deficiencies in the aircraft maintenance across nearly 250 aircraft of the domestic airlines.

Also Read: Did you know — the big VT sign on every Indian aircraft is a British legacy

Largely, the deficiencies were found in the older fleet of SpiceJet and Air India, officials said, adding that the key areas of defects were related to unserviceable seats, defects in door panels, and incomplete maintenance records.

While the airlines were able to immediately act on the regulator’s intervention and address the concerns raised, officials believe that such spot checks with a sole focus on serviceable seats and aircraft maintenance are to continue over the near term.

For a proactive approach, officials are also keeping a close eye on the passenger complaints posted on social media platforms, and action is taken immediately on concerns raised regarding the condition of the aircraft cabin.

Also Read: Rakesh Jhunjhunwala-backed Akasa Air all set for take off, booking window opens early July

The regulator had also recently written to airlines that unserviceable seats are not only causing inconvenience to the travelers but also inviting a serious safety concern.

“It may please be noted that as per Sub Rule (2) of Rule 53 of The Aircraft Rule 1937, all materials including aircraft seats shall conform to approved design specifications. The installation of any part failing to meet the intended design requirements, degrades the requirements of airworthiness,” the regulator had told the airlines.

The regulator had also advised airlines to only take bookings for the serviceable seats which meet the approved design specification and had warned that any non-compliance will be viewed seriously.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Delhi Airport becomes India’s first airport to run entirely on hydro and solar power

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

“DIAL has been working relentlessly towards environmental sustainability and has set its target to make Delhi Airport a Net Zero Carbon Emission airport by 2030, way ahead of the global target of 2050,” said DIAL CEO Videh Kumar Jaipuriar.

Delhi Airport has become India’s first airport to move to green energy and now runs entirely on hydro and solar power since June 1, the airport operator GMR Group said. The transition will help in the reduction of energy emissions of 2 lakh tonne of carbon dioxide per year.

Currently, the airport sources approximately 6 percent of its electricity requirement is met from onsite solar power plants and the remaining 94 percent of its demand is via hydropower plants.

The solar power plants are on the airside and on the roofs of the cargo terminals of the Indira Gandhi International (IGI) Airport.

Also Read: Did you know — the big VT sign on every Indian aircraft is a British legacy

For hydropower, Delhi International Airport Ltd has signed a long-term power purchase agreement (PPA) with Himachal Pradesh-based hydropower producing company for the supply of hydroelectricity for the airport until 2036, GMR Group said.

The airport has targeted to become a Net Zero Carbon Emission Airport by 2030.

Besides, DIAL has a 7.84 MW solar power plant on the airside, whereas as part of stakeholder collaboration, operators of the cargo terminals at Delhi Airport have added another 5.3 MW rooftop solar power plant.

“DIAL has been working relentlessly towards environmental sustainability and has set its target to make Delhi Airport a Net Zero Carbon Emission airport by 2030, way ahead of the global target of 2050,” said DIAL CEO Videh Kumar Jaipuriar.

Also Read: Rakesh Jhunjhunwala-backed Akasa Air all set for take off, booking window opens early July

Delhi airport had also introduced TaxiBots at the IGI Airport in 2019 to reduce the consumption of fuel by an aircraft during taxiing.

The airport also said it has initiated the adoption of electric vehicles and is phasing out all the diesel and petrol-run in a staggered manner. In the first phase, the Delhi Airport will procure 62 electric vehicles that would join the fleet in 3 to 4 months.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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DGCA audits flying training organisations, finds false logging and deficiencies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The DGCA audit has revealed non-compliance of DGCA requirements for the conduct of Breath–Analyzer (BA) examination, operation of aircraft with faulty or unserviceable aircraft instruments such as fuel gauges, stall warning, etc, and even false logging.

The Directorate General of Civil Aviation (DGCA) audited flying training organisations and has found numerous deficiencies including false logging and the use of faulty aircraft instruments. The audit commenced on March 21, 2022, and so far, the regulator has audited 30 flying training organisations.

The audit has revealed non-compliance of DGCA requirements for the conduct of Breath–Analyzer (BA) examination, operation of aircraft with faulty or unserviceable aircraft instruments such as fuel gauges, stall warning, etc, and even false logging.

The regulator found that few of the instructors, student pilots, and aircraft maintenance engineers either did not undergo breath analyser tests or did not submit the undertaking prior to commencement of duty. In a few cases, the equipments being used were not in compliance with the requirements or calibrated as required.

Also Read: Etihad bets on Airbus A350 to drive demand from India

Some instances of false logging were also observed such as in a few cases dual flight has been logged as solo flight and in a few other cases, the taxi time was also calculated as part of the flying time of the student pilot, the regulator has noted.

The audit also noted deficiencies in the ground training of student pilots such as the overlap of flying training and ground training, lack of arrangement for ground training, and absence of the required instructors.

There were also issues in flying training procedures and their implementation such as student pilots were not appropriately briefed and trained on emergencies and essential exercises before being released for solo flights or across the country.

Also Read: SpiceJet CMD Ajay Singh calls for 15% fare hike after ATF price hits all-time high

There was also adhocism in the allocation of trainers as trainers are frequently changed and thereby affecting the learning experience of student pilots, the regulator further noted.

The facilities at the airfield/training organisation are not being maintained as per the requirements i.e., runway surface was found worn out, wind sock was found torn or non-standard.

Importantly, the emergency response plan was not practiced and contained obsolete contact details. The emergency response plan is of great importance when an accident/incident occurs.

Also Read: Air India fined Rs 10 lakh for denying boarding to passengers with valid tickets

Based on the audit findings, the regulator has issued warning letters to two Accountable Managers, suspension orders to two certified flying instructors
(CFI) for a year, two CFI for 3 months, one deputy CFI for a year, two deputy CFI for 3 months, one assistant flying instructor for 3 months, and one student for 3 months.

“In addition approval of one FTO has been suspended. Enforcement actions against other individuals/ FTOs are at various stages,” DGCA said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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India unveils National Air Sports Policy, aims to become a sports hub by 2030

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Currently, the policy is set to include a set of 13 air sports such as aerobatics, aero modeling, and model rocketry, ballooning, drones, gliding, powered gliding, rotorcraft, hang gliding, parachuting, and para motoring among others. The government said the list of sports under the National Sports Policy will be modified from time to time as deemed necessary.

Union aviation minister Jyotiraditya Scindia on Tuesday launched the National Air Sports Policy 2022 with the aim to make India a hub for air sports in the world by 2030.

Currently, the policy is set to include a set of 13 air sports such as aerobatics, aero modeling, and model rocketry, ballooning, drones, gliding, powered gliding, rotorcraft, hang gliding, parachuting, and para motoring among others. The government said the list of sports under the National Sports Policy will be modified from time to time as deemed necessary.

Under the new policy, the air sports in India will be under a four-tier governance structure with the Air Sports Federation of India as the apex governing body. Then, there will be national associations for individual air sports or a set of air sports, followed by regional or state and union territory level units of the national air sports associations and then the fourth level is the district-level air sports associations.

Also Read: Etihad bets on Airbus A350 to drive demand from India

The topography of the country and the fair-weather conditions are expected to play the role of catalysts in building the ecosystem for air sports in the country, Scindia said.

“From a small market size of about 5,000 odd sports practitioners creating around Rs 80-100 crore of annual revenue in India, I feel we can target over Rs 8,000-Rs 10,000 crore annual revenue and generate over 1,00,000 direct jobs. The economic multiplier benefits in terms of travel, tourism, support services, and local infrastructure development will be over three times,” Scindia added.

The policy also enables the adoption of international good practices in safety including air sports infrastructure, equipment, operations, training, and maintenance among others. It will also promote the design, development, and manufacturing of air sports equipment in India in line with the Atmanirbhar Bharat policy of the government.

Also Read: DGCA warns airlines against offering passengers unserviceable seats

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Etihad bets on Airbus A350 to drive demand from India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

“We have a lot of history in terms of the relationship between India and UAE. The proximity that UAE has with India is also beneficial. There is a huge Indian diaspora who are living in UAE, it is a home away from home for all the Indians working there and living there… India is a very important market for us,” Neerja Bhatia said.

Etihad Airways continues to see India as an important market and is betting on the wide-body Airbus A350 aircraft to drive demand from the Indian market, vice president, Indian subcontinent, Etihad Airways- Neerja Bhatia told CNBC-TV18 in a recent interview.

“We have a lot of history in terms of the relationship between India and UAE. The proximity that UAE has with India is also beneficial. There is a huge Indian diaspora who are living in UAE, it is a home away from home for all the Indians working there and living there… India is a very important market for us,” Bhatia said.

The prospects for demand from India are also strong on the back of its growing economy, increasing middle-class income, student and corporate traffic as well as people travelling for visiting friends and relatives in addition to leisure travel, Bhatia added.

Also Read: View | All is not well with Indian aviation

The airline has been undertaking initiatives during the last two years of the pandemic to increase efficiency and is now geared up for operating a full schedule from India. The airline is operating almost two flights daily from Delhi and Mumbai each, 10 flights per week from Hyderabad, nine flights a week from Bengaluru, and thrice a week from Trivandrum among flight operations from Kochi and Chennai as well.

“We are increasing our capacity and taking a pragmatic approach to network planning, we are becoming agile to cater to all opportunities and demand,” Bhatia added.

The airline is also betting on its freshly inducted Airbus A350-1000 aircraft to drive demand from India. The A350 has 44 business studios and 327 economy seats.

Also Read: Jet shares are taking off but the flight path is getting crowded

The Rolls-Royce Trent XWB-powered Airbus A350 offers 25 percent less fuel burn and CO2 emissions than previous-generation twin-aisle aircraft. This is in line with the airline’s focus on the environment, Bhatia said, adding that the airline has also started a green loyalty program.

In line with its focus on sustainability, the airline has also recently unveiled its new Economy class soft furnishings and tableware, with sustainability and improved passenger experience as primary objectives. This will be launched on board in the fourth quarter of the year.

Etihad posted a loss of $476 million for 2021 as compared to a loss of $1.70 billion in the year 2020. The airline carried 3.5 million passengers in 2021, with an average seat load factor of 39.6 percent. Passenger load doubled in the second half of the year, reaching 70.1 percent in December as travel demand peaked during the winter holiday period.

Also Read: DGCA slaps Rs 10 lakh fine on SpiceJet for training pilots on a faulty simulator

While demand has picked up globally for airlines with a spike in leisure as well as corporate traffic, the current challenges for the aviation sector worldwide are the rising fuel prices, which have seen a spike since the Russa-Ukraine war. This has also resulted in airlines having to re-route their flights, leading to higher flight time and more costs.

“Biggest pain point is the ATF prices, divergent routes leading to higher cost,” Bhatia added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Indian Railways ramps up coal loading to 421 rakes per day in May

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The daily average for the month at 421 rakes is higher than the target of 415 rakes, officials said, adding that on the coal loading increased further to 468 rakes on May 31.

Indian Railways has been able to ramp up coal loading to 421 rakes per day on an average in the month of May, senior officials told CNBC-TV18.

The daily average for the month at 421 rakes is higher than the target of 415 rakes, officials said, adding that the coal loading increased further to 468 rakes on May 31.

The coal availability with thermal power plants, which had earlier dipped to around 19 million tonne, has been able to increase with the focus on the transportation of coal. As per the recent estimate, the coal availability with thermal power plants has increased to more than 23 million tonne, officials added.

Also read: IRCTC Luggage Rules: Indian Railways will now levy hefty penalty for excess luggage

With the increase in coal availability, Indian Railways is likely to undertake less number of cancellations of passenger train services in the month of June as compared to April and May, officials said.

In April, Indian Railways announced its plan to cancel around 657  passenger train trips in order to give priority to the transportation of rakes carrying coal to power plants across the country.

Further, Indian Railways had cancelled more passenger trains in May, taking the total number of such cancellations to 1,041 passenger train trips. These measures were implemented against the backdrop of several states and union territories facing a severe power crisis in the month of April and May amid an increase in demand for electricity and a spike in the requirement for coal.

Also read: This is how IRCTC makes money

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IndiGo CEO Rono Dutta says air travel demand stronger than pre-COVID

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The 71-year-old aviation veteran, who is retiring on September 30, reiterated that he is “very enthusiastic” about revenue and aims for a consistent increase in unit revenue at the rate of 3-4 percent every year.

The demand for air travel has become stronger than pre-COVID, IndiGo CEO Ronojoy “Rono” Dutta told CNBC-TV18 in an exclusive interview.

“Demand has been very strong, now we are way above COVID level… I can say with conviction that we have recovered from COVID,” Dutta said. As a result, the airline is also witnessing more passengers travelling more frequently, leading to a 5-6 percent monthly growth in revenue. “The airline is steadily marching upwards,” Dutta said.

While the news is good on the revenue side, the cost pressures remain for the airline in terms of crude oil rates and foreign exchange. Offsetting the 5-6 percent monthly revenue growth is fuel cost, which is going up by 11 percent per month.

“We are on the cusp of profitability… need a little bit of help on the cost side. We have a glimmer of hope; a lot depends on crude oil prices… Oil prices need to behave,” Dutta said.

Also read: View | All is not well with Indian aviation

The 71-year-old aviation veteran, who is retiring on September 30, reiterated that he is “very enthusiastic” about revenue and aims for a consistent increase in unit revenue at the rate of 3-4 percent every year.

Dutta also continues to be bullish on the growth potential in the Indian aviation sector, and sees airport infrastructure as the only constraint. Citing the example of the Delhi airport, which has emerged among 10 busiest airports in the world without connecting traffic, Dutta said Indian metro airports have a massive potential once hubs are developed to attract connecting traffic as well.

“We are seeing in aviation is just the first ripple, the wave is yet to come,” Dutta said.

Also read: IndiGo shares fly 10% as Street cheers prospects of higher airfares

The airline is also focused on reducing its debt, which has increased 23.5 percent year-on-year to Rs 36,877.8 crore in the fourth quarter of the 2022 fiscal.

“Forward bookings dwindled during COVID, now they are back. We will slowly be reducing our debt. Pre-COVID, we were close to zero debt. Over time, we would like to aim for very little debt,” Dutta said.

The airline is more focused on customer-friendly service as a part of its strategy to gain more passengers, and a higher market share is a by-product of that mechanism, Dutta said, adding that the airline’s strength is its network. IndiGo, the largest domestic carrier, has also resumed hiring and is currently recruiting 400 flight attendants.

“Our philosophy is that at every stage customer should ask why I am not booking IndiGo,” Dutta said.

Also read: IndiGo fined Rs 5 Lakh for denying boarding to boy with special needs

The airline is looking at a net addition of 15 aircraft in its fleet over the next year. As of March 2022, IndiGo had 275 aircraft in its fleet.

Once IndiGo starts taking delivery of Airbus A321XLR in 2024, it will aggressively expand its international operations.

“International profitability has been higher than domestic… Before-covid, international was about 25 percent of our capacity. Our plan is to take international capacity to 40 percent,” Dutta said.

The airline board’s recent decision to appoint current President and CEO of KLM, Pieter Elbers, as its CEO from October is also being seen as a part of IndiGo’s strategy to deepen its network in the global markets specifically.

Also read: Aviation stocks rise despite jet fuel prices hitting record levels

“The IndiGo board is looking for a CEO with tenureship of 8-10 years… Pieter Elbers has a wonderful reputation, knows the European market very well… IndiGo will heavily expand in Europe with A321XLR,” Dutta said.

Talking about the period of transition, Dutta said that Elbers will become available from July and start making trips to India after that.

On being his future beyond IndiGo, Dutta said that he will definitely be working for another airline as he cannot “imagine retiring” from aviation.

“We are all here on a transit visa… None of us is here on a permanent residence status. Moving on is part of our game.. .I am moving ahead with the true spirit of an adventurer… I am a bit of a nomad… I love to work for an airline, can’t imagine anything else… cannot imagine retiring from aviation. Love aviation with a passion,” Dutta said.

Also read: Air France-KLM, IndiGo implement codeshare agreement

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?