For renting and leasing of aircraft, besides carrying of air freight Air Asia and Tata Group have sought approval from the government. The two firms, along with Arun Bhatia of Telestra Tradeplace, have proposed to set up a domestic airline. According to sources, in its application to the FIPB, the partners have also sought permission for engaging in ancillary activities.
Author: admin (Infratructure Today)
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Jet Airways seeks govt’s nod to buy 6 KFA’s slots
With the government withdrawing Kingfisher Airlines' international flying rights and domestic slots, the Jet Airways has approached the Aviation Ministry to acquire six of the vacant slots. The airline company has applied to the government to acquire six slots from Mumbai. Of these, it is looking at four domestic and two international routes, Jet Airways sources said in Mumbai.
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AirAsia India starts headhunting for its crew
AirAsia India, the new joint venture airline that AirAsia Bhd and Tata Sons propose to launch has started approaching top aviation executives in India, as it attempts to build its team ahead of a nod from the government, sources said. The fate of AirAsiaĆās proposal will be decided by the government on March 6, but the partners have already scheduled interviews with potential hires this week, indicating their confidence of receiving a clearance.
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AI-owned Dreamliners may fly again next month
Air India's Dreamliner planes may fly again by mid-April, with the airline expressing hope that a permanent solution to the battery-fire that led to the grounding of all the 50 Boeing 787s flying worldwide will be achieved by the month-end, sources said on March 4. Air India's hopes were strengthened after a meeting of officials aviation regulators of seven countries, including the Directorate General of Civil Aviation (DGCA) and the US Federal Aviation Administration, US Department of Transport
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AAI proposes to close Juhu airport’s secondary runway
Even as helicopter operators were expecting a written assurance from the Airports Authority of India (AAI) stating the Juhu airportĆās secondary runway would not be shut, AAI has mooted a new proposal that might lead to the runwayĆās closure.
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Shriram Group mulls foray into banking business
With the Reserve Bank of India (RBI) releasing guidelines for new bank licenses, a slew of industry conglomerates are interested to make a foray into banking business. One among them is the Chennai-based Shriram Group, promoted by R Thyagarajan. The group, which is one of the contenders for a banking licence, said it want
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PSBs to get Rs 125 bn capital in FY13
Government proposed to infuse an amount of Rs 12,517 crore in Public Sector Banks(PSBĆās) to augment their Tier-1 capital in FY-2012-13. A sum of Rs 12,000 crore was infused during 2011-12 to enable them to maintain a minimum Tier-1 CRAR of 8 per cent. Performance of Indian banks during the year 2011-12 was conditioned to a large extent by fragile recovery of global financial markets as well as a challenging oper
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Indian banking sector has less systemic risk
Industry players feel that the systemic risk in the Indian banking sector is muted because of the existence of many medium and small size banks. It may be noted that systemic risk arises when there are large-sized or too big to fail banks. However, in India, many banks are medium and small-sized and hence there is less risk of inter-connectedness, indu
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India’s GDP grows at 4.5% in December 2012 quarter
India's gross domestic product (GDP) grew at a tepid rate of 4.5 per cent during Oct-Dec 2012, data released by government's statistics department shows. The GDP had grown 6 per cent in the year-ago period. During October-December quarter of 2012-13, manufacturing sector grew marginally by 2.5 per cent, against 0.7 per cent growth in the same period of 2011-12. Far
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PE arm of HDFC may make first closing of realty fund
According to media reports, HDFC Property Fund may make first closing of its fourth real estate fund in March by raising $200 million from institutional and retail investors. The fourth real estate fund was launched late last year with a target size of $500 million and has promised to d