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Entities with sufficient funds, ability to run Air India can bid, says DIPAM Secretary

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

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Summary

The government had last month floated a preliminary information memorandum inviting bidders to buy 76 percent stake in loss-making Air India along with transfer of management control.

Any entity having adequate finances and ability to run Air India can bid for 76 percent stake in the national carrier, DIPAM secretary Neeraj Gupta said today.

The government had last month floated a preliminary information memorandum inviting bidders to buy 76 percent stake in loss-making Air India along with transfer of management control.

An official in the finance ministry said there has been good response from entities in airline industry as well as corporates for buying stake in the debt-ridden national carrier.

“We are not looking for only an airline to take over Air India… Anybody who has (required) net worth and funds can bid for Air India,” Gupta said at an Assocham event here.

The secretary in the Department of Investment and Public Asset Management (DIPAM) said the government has kept financial capacity of the bidder as the main criteria for disinvestment of Air India. The bidder should also have the ability to run the national carrier.

As per the bid document, bidders would be required to have a minimum net worth of Rs 5,000 crore and should have posted profit after tax (PAT) in three of the previous five financial years from the Expression of Interest (EoI) deadline. The last date for submission of the bids is May 14.

The entity acquiring the domestic carrier will have to retain the ‘Air India’ brand for AI’s business operations for a minimum specified number of years on terms to be detailed at request for proposal (RFP) stage.

The bids can be put in by a single player or as part of a consortium. The consortium can be along with a bank, venture capitalist, financial institution or fund.

The official said the government will come out with responses based on the queries received from interested bidders.

He said there should be no concerns about retrenchment as the government will follow best industry practices.

The government would retain 24 per cent stake in the national carrier, and the bidder who buys Air India would have to stay invested in the airline for at least three years.

As per the bid document, the transaction would involve Air India, its low cost arm Air India Express and Air India SATS Airport Services Pvt Ltd, which is a joint venture between the national carrier and Singapore-based SATS.

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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Open for non-airlines to takeover Air India, says Neeraj Gupta

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

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Summary

The government was currently studying the responses received with respect to Air India divestment.

Neeraj Gupta, secretary, Department of Investment and Public Asset Management said the government was not looking for only one airline to take over Air India.

“Airlines can be part of consortium but financial health is important,” said Gupta.

Stressing on the criteria for divestment process, Gupta said that the only condition was a sound net worth and added that PEs and Venture Capital could also participate in the divestment process.

>>Hand over Air India to someone who can run it efficiently, says RSS chief Mohan Bhagwat

He further said that the government was currently studying the responses received with respect to Air India divestment. “We have received more responses from non airline players,” he said.

However, he refused to give further details as to which big corporates had come forward for the same.

The Air India divestment process or privatisation has witnessed a lot of twists and turns with a number of airlines expressing interest but eventually denying it.

The state-owned airline has been piling up crores of debt in the past decade. With a debt of around Rs 52,000 crore, the government finally gave its ‘in-principle’ nod to divest a substantial share of the airline on June 28 last year.

 

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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India’s March domestic air passenger traffic up 28%

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

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Domestic air passenger traffic rose to 1.15 crore in March 2018 — up 28.03% — from 90.45 lakh reported during the corresponding month of 2017, official data showed on Wednesday. The total domestic air passenger traffic had risen to 1.07 crore in February. Data furnished by the Directorate General of Civil Aviation (DGCA) revealed that …

Domestic air passenger traffic rose to 1.15 crore in March 2018 — up 28.03% — from 90.45 lakh reported during the corresponding month of 2017, official data showed on Wednesday.

The total domestic air passenger traffic had risen to 1.07 crore in February.

Data furnished by the Directorate General of Civil Aviation (DGCA) revealed that passenger traffic during the January-March 2018 period grew by 23.87%.

“Passengers carried by domestic airlines during January-March 2018 were 337.90 lakh as against 272.79 lakh during the corresponding period of previous year thereby registering a growth of 23.87%,” the DGCA said in its monthly domestic traffic report.

According to the data, low-cost carrier SpiceJet had the highest passenger load factor (PLF) — a measure of capacity utilisation of the airline — at 95% during March.

“SpiceJet has yet again recorded the highest PLF in the industry. Clocking 95%  occupancy in the traditionally lean travel month of March is an achievement that we are proud of,” said Shilpa Bhatia, Chief Sales and Revenue Officer, SpiceJet.

“For three years in a row, SpiceJet has flown with the highest load factors in the Indian aviation market. For 35 months in a row our loads have been in excess of 90% — a feat unparalleled in global aviation history and a milestone that we are proud of.”

SpiceJet was followed by IndiGo with a PLF of 89% and GoAir at 88%.

“The passenger load factor in the month of March 2018 has shown decreasing trend compared to previous month due to end of vacation period of various sectors,” the monthly statistical analysis said.

The data noted that IndiGo led the industry with 84.1% punctuality rate (on-time performance) at the four major airports of Bengaluru, New Delhi, Hyderabad and Mumbai. It was followed by SpiceJet (83.9), Vistara (83) and Air India’s domestic operations (76.5).

The overall cancellation rate of scheduled domestic airlines for March 2018 stood at 1.38%.

In addition, the data disclosed that a total of 657 passenger-related complaints were received last month.

“The number of complaints per 10,000 passengers carried for the month of March 2018 has been around 0.57,” the monthly analysis said.

The data revealed that IndiGo led the industry with the highest market share of 39.5%, followed by Jet Airways (15), Air India (13.4), SpiceJet (12.7), and GoAir (9).

AirAsia India had a market share of 4.5%, followed by Vistara (3.8), JetLite (1.6) and Trujet (0.4).

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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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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 5 Minutes Read

Delhi HC directs DGCA to specify minimum, maximum flying hours for pilots

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

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Summary

The Delhi High Court on Wednesday directed the Directorate General of Civil Aviation (DGCA) to specify the maximum and minimum flying hours and prescribe the flight and duty time limitation (FDTL). A bench of Acting Chief Justice Gita Mittal and Justice C. Hari Shankar gave the order while disposing off a plea on “deliberate variations” …

The Delhi High Court on Wednesday directed the Directorate General of Civil Aviation (DGCA) to specify the maximum and minimum flying hours and prescribe the flight and duty time limitation (FDTL).

A bench of Acting Chief Justice Gita Mittal and Justice C. Hari Shankar gave the order while disposing off a plea on “deliberate variations” in the FDTL of pilots that resulted in fatigue.

The court said that the DGCA is bound to comply with the provisions of the Aviation Act and Rules thereunder so far as the issue of fatigue in pilots was concerned and to specify the maximum and minimum flying hours.

The plea was filed by Kerala resident Yeshwanth Shenoy who alleged that the DGCA norm on FDTL was violative of rules, as it allowed air operators to stretch the duty hours of pilots.

The maximum prescribed limit for pilots is eight hours of flight time and six landings per day, but it was being flouted under the regulator’s watch, Shenoy told the court.

Many airline accidents had occurred due to pilot fatigue, the plea said, adding that “one of the contributing factors to the Mangalore air crash (of May 2010 that killed 152 people) was pilot fatigue”.

The petitioner sought a direction to the DGCA to reframe the Civil Aviation Requirement (CAR) on FDTL for flight crew by involving stakeholders and taking into consideration the international best practices.

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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April 18: Buy Godrej Consumer; Sell Bank of Baroda & Axis Bank, says Ashwani Gujral

What to expect from the market in January 2024, midcap index, January 2024, Nifty midcap index, Nifty, yearender, yearender 2023, 2023 yearender, 2024 outlook, market outlook 2024,

The latest analysis and commentary by stock market guru Ashwani Gujral on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Bank of Baroda (BoB), Axis Bank, Godrej Consumer, Jet Airways, Arvind, PC Jewellers, NTPC, and ITC.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

 5 Minutes Read

Airlines inspecting Boeing 737 engines after fatal Southwest incident

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

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Summary

Some major customers of Boeing Co’s popular 737 jets including Korean Air Lines Co Ltd said on Wednesday they were inspecting engines of the type that blew apart mid-air on a fatal Southwest Airlines Co flight on Tuesday. European regulators this month began requiring an inspection by early next year, and a person familiar with …

Some major customers of Boeing Co’s popular 737 jets including Korean Air Lines Co Ltd said on Wednesday they were inspecting engines of the type that blew apart mid-air on a fatal Southwest Airlines Co flight on Tuesday.

European regulators this month began requiring an inspection by early next year, and a person familiar with the matter said US regulators were near a similar rule, which affects a number of 737s in operation globally.

Southwest Flight 1380 made an emergency landing in Philadelphia on Tuesday after an engine ripped apart mid-air, shattering a window on the 737 and nearly sucking a passenger through. One of 144 passengers died.

The actions by regulators show that there has been some concern, albeit non-urgent, about the engine, a workhorse of the global civil aviation fleet that has logged more than 350 million hours of safe travel but was also being examined after a 2016 accident.

The CFM56-7B engine type involved in the Southwest incident was produced by a joint venture of U.S. firm General Electric Co and France’s Safran SA called CFM International. It is one of the most common engines, paired with the world’s most-sold plane, the Boeing 737.

Southwest said it is speeding up inspections of all related engines out of extra caution, which it expects to complete within 30 days.

An early review of the failed Southwest engine found apparent metal fatigue where a fan blade had broken off, Robert Sumwalt, chairman of the U.S. National Transportation Safety Board (NTSB), told reporters on Tuesday.

“We are very concerned” about metal fatigue, Sumwalt said. “There needs to be proper inspection mechanisms in place to check for this before there’s a catastrophic event.”

Korean Air said on Wednesday it had not yet been prompted by its regulators for a check but it planned to inspect engines used on its entire 737 fleet by November following the Southwest incident.

About 20% to 30% of its 35 Boeing 737 jets use the same type of fan blade as the one on the Southwest jet, a Korean Air official said.

A Japan Airlines Co Ltd spokesman said two 737 jets in its fleet had engines with affected fan blades and inspections were due to be completed by the end of the day on Wednesday.

In August 2016, a Southwest flight made a safe emergency landing in Pensacola, Florida, after a fan blade separated from the same type of engine, and debris ripped a foot-long hole above the left wing. Investigators found signs of metal fatigue.

The 2016 incident prompted the US Federal Aviation Administration (FAA) to propose ultrasonic inspections of similar fan blades and their replacement should they fail the test.

Sumwalt said the NTSB will review whether the engines involved in Tuesday’s incident might have been subject to the directive, which is not yet finalised.

The FAA proposal estimated that checks would require two hours of labour per inspection.

Not all airlines operating 737s are affected.

Australia’s Qantas Airways Ltd, a large 737 operator, said its engines were of a slightly different model than those targeted for inspection.

Spokespeople for several other major airlines operating 737s could not be reached immediately for comment.

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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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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Should Elon Musk be able to buy Twitter?

April 18: Castrol India, CG Power, ITC & Jet Airways, says Prakash Gaba

The latest analysis and commentary by stock market guru Prakash Gaba on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Castrol India, CG Power and Industrial Solutions, ITC, Jet Airways.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

April 18: Buy Castrol,Glenmark Pharmaceuticals, JSW Energy, says Mitessh Thakkar

buy sell stock ideas

The latest analysis and commentary by stock market guru Mitessh Thakkar  on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Castrol,Glenmark Pharmaceuticals, JSW Energy,  IndiGo, and L&T Finance Holdings.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

April 18: Buy Indian Hotels, Jai Corp, IndiGo, says Ashwani Gujral

Closing Bell, Sensex Close, Nifty Close, Market Close, Sensex, Nifty, Market News, NSE, BSE, BSE Sensex, NSE Nifty50, Stock Markets Today, Stock Prices, Share Trading, Rupee Vs Dollar, Brent Crude Oil Prices

The latest analysis and commentary by stock market guru Ashwani Gujral  on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Indian Hotels, Jai Corp, IndiGo, VIP Industries and Titan.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

 5 Minutes Read

Mid-air horror; Jet blows an engine at 32,000 feet

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

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Summary

Passengers dragged the woman back in as the sudden decompression of the cabin pulled her part way through the opening, but she was gravely injured.

A Southwest Airlines jet blew an engine at 32,000 feet and got hit by shrapnel that smashed a window, setting off a desperate scramble by passengers to save a woman from getting sucked out. She later died, and seven others were injured.

Passengers dragged the woman back in as the sudden decompression of the cabin pulled her part way through the opening, but she was gravely injured.

The pilots of the plane, a twin-engine Boeing 737 bound from New York to Dallas with 149 people aboard, took it into a rapid descent and made an emergency landing in Philadelphia as passengers using oxygen masks that dropped from the ceiling said their prayers and braced for impact.

“I just remember holding my husband’s hand, and we just prayed and prayed and prayed,” said passenger Amanda Bourman, of New York. “And the thoughts that were going through my head of course were about my daughters, just wanting to see them again and give them a big hug so they wouldn’t grow up without parents.”

The dead woman was identified as Jennifer Riordan, a Wells Fargo bank executive and mother of two from Albuquerque, New Mexico. She was the first passenger killed in an accident involving a U.S. airline since 2009. The seven other victims suffered minor injuries.

The National Transportation Safety Board sent a team of investigators to Philadelphia.

In a late night news conference, NTSB chairman Robert Sumwalt said a preliminary examination of the engine showed evidence of “metal fatigue.” One of the engine’s fan blades was separated and missing. The blade was separated at the point where it would come into the hub and there was evidence of metal fatigue, Sumwalt said.

The engine will be examined further to understand what caused the failure. An investigation could take 12 to 15 months. Photos of the plane on the tarmac showed a missing window and a chunk gone from the left engine, including part of its cover. Sumwalt said part of the engine covering was found in Bernville, Pennsylvania, about 70 miles (112 kilometers) west of Philadelphia.

Southwest said Tuesday night that as a precaution it would inspect similar engines in its fleet over the next 30 days.

Passengers commended one of the pilots, Tammie Jo Shults, for her cool-headed handling of the emergency. She walked through the aisle and talked with passengers to make sure they were OK after the plane touched down.

“She has nerves of steel. That lady, I applaud her,” said Alfred Tumlinson, of Corpus Christi, Texas. “I’m going to send her a Christmas card, I’m going to tell you that, with a gift certificate for getting me on the ground. She was awesome.”

Tracking data from FlightAware.com showed Flight 1380 was heading west over Pennsylvania at about 32,200 feet (10 km) and traveling 500 mph (800 kph) when it abruptly turned toward Philadelphia.

Bourman said she was asleep near the back when she heard a loud noise and oxygen masks dropped.

“Everybody was crying and upset,” she said. “You had a few passengers that were very strong, and they kept yelling to people, you know, ‘It’s OK! We’re going to do this!'”

In a recording of conversations between the cockpit and air traffic controllers, an unidentified crew member reported that there was a hole in the plane and “someone went out.”

Tumlinson said a man in a cowboy hat rushed forward a few rows “to grab that lady to pull her back in. She was out of the plane. He couldn’t do it by himself, so another gentleman came over and helped to get her back in the plane, and they got her.”

Another passenger, Eric Zilbert, an administrator with the California Education Department, said: “From her waist above, she was outside of the plane.”

Passengers struggled to somehow plug the hole while giving the badly injured woman CPR.

Passengers did “some pretty amazing things under some pretty difficult circumstances,” Philadelphia Fire Commissioner Adam Thiel said.

As the plane came in for a landing, everyone started yelling to brace for impact, then clapped after the aircraft touched down safely, Bourman said.

“We were very lucky to have such a skilled pilot and crew to see us through it,” Zilbert said. “The plane was steady as a rock after it happened. I didn’t have any fearing that it was out of control.”

The last time a passenger died in an accident on a U.S. airliner was 2009 when 49 people on board and one on the ground were killed when a plane operated by Colgan Air for Continental Connection crashed on a house near Buffalo, New York.

Southwest has about 700 planes, all of them 737s, including more than 500 737-700s like the one in Tuesday’s accident. It is the world’s largest operator of the 737. The 737 is the best-selling jetliner in the world and has a good safety record.

Southwest CEO Gary Kelly said in Dallas that there were no problems with the plane or its engine when it was inspected Sunday.

The jet’s CFM56-7B engines were made by CFM International, jointly owned by General Electric and Safran Aircraft Engines of France. CFM said in a statement that the CFM56-7B has had “an outstanding safety and reliability record” since its debut in 1997, powering more than 6,700 aircraft worldwide.

Last year, the engine maker and the Federal Aviation Administration instructed airlines to make ultrasonic inspections of the fan blades of engines like those on the Southwest jet. The FAA said the move was prompted by a report of a fan blade failing and hurling debris. A Southwest spokeswoman said the engine that failed Tuesday was not covered by that directive, but the airline announced it would speed up ultrasonic inspections of fan blades of its CFM56-series engines anyway.

“There’s a ring around the engine that is meant to contain the engine pieces when this happens,” said John Goglia, a former NTSB member. “In this case it didn’t. That’s going to be a big focal point for the NTSB — why didn’t (the ring) do its job?”

In 2016, a Southwest Boeing 737-700 blew an engine as it flew from New Orleans to Orlando, Florida, and shrapnel tore a 5-by-16-inch hole just above the wing. The plane landed safely. The NTSB said a fan blade had broken off, apparently because of metal fatigue.

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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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

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