In order to raise equity capital for its ongoing projects, The energy division of GMR Infrastructure may be listed in the stock exchange, reports indicate. GMR Energy, which operates power plants with a total capacity of 1,487 mw, is working on over 3,000 mw of power projects. The company plans to raise around Rs 1,500 crore by offering 10 percent stake through fresh equity issuance
Category: Aviation & Airports
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Steps are on to develop T’puram Airport: Govt
Measures are being taken to speed up the development of the Thiruvananthapuram International Airport. Replying to questions in the the State Assembly in Thiruvananthapuram, the Excise and Ports Minister K Babu, who also handles the airports portfolio, said on June 24 that steps were being taken to shift the existing domestic terminal and solve the problems faced by the passengers.
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AAI seeks Maha govt’s help to develop Juhu airport
The Airports Authority of India (AAI) has sought Maharashtra governmentÂ’s help to lift the reservation of a general park on the plot to be utilised for the development of Juhu airport in Mumbai. For this, changes are required in the Development Control Rule (DCR). After the recent approval by the Union Ministry of Civil Aviation for a Rs 2,000-crore development plan, the AAI approached the State government on June 25 to discuss three issues with JK Banthia, Chief Secretary of Maharashtra.
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Govt may abolish charges on airlines that link small towns
The Union Civil Aviation Ministry is considering doing away with airport and navigation charges for airlines operating to such destinations while imposing a cess of about Rs 50 on all domestic flyers to realise the cost. The government is striving to encourage air connectivity to small towns.
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Govt evaluating foreign airlines’ demand of traffic rights
India is evaluating demands by various foreign airlines to enhance bilateral air traffic rights in the wake of a massive hike granted to Abu Dhabi following the Jet-Etihad deal. The Union government is planning to evaluate India's international passenger growth and will also see how the existing bilateral rights are being used by Emirates before taking a call on their request, said Union Civil Aviation Minister Ajit Singh in London.
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Govt pulls up DGCA for delaying action against flying clubs
The Union Civil Aviation Ministry has pulled up the aviation safety regulator over delay in taking action against three flying clubs in Maharashtra caught for fudging training records in 2011. The schools under fire include the Bombay Flying Club (BFC), the country's oldest flying club. Despite several discrepancies in the club's records and heavy monetary penalty recommended against some of its officials, the Directorate General of Civil Aviation (DGCA) failed to implement timely action.
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All issues regarding AirAsia India have been resolved: Govt
Union Civil Aviation Minister Ajit Singh has said that all issues concerning AirAsia IndiaÂ’s application had been resolved. The Minister added that the proposal of AirAsia India has been sent to the Union Home Ministry for security clearance. Once the Home Ministry nod comes, the Civil Aviation Ministry will give its clearance to the Malaysia-based low cost carrier, the Minister said in London on June 10.
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GMR confident of servicing debt
Media reports indicate that GMR Infrastructure does not face problem on servicing its debt as the firm feels most of the debt has been ring-fenced over the cash flow of specific projects. In 2012-13, the company paid Rs 608 crore as interest charges, higher than 31 per cent from the previous year. As of end-2013, the firm had a net debt of Rs 33,700 crore, up 15 per cent from the previous finan
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Google to build own terminal at Silicon Valley airport
To cater to its executives coming and going from Mineta San Jose International Airport in Silicon Valley, Google is building a private terminal there for its jets at a cost of $82-million. Construction was expected to begin late this year on the facility, which has been landed the slightly off-mark nickname of 'Google Airport.'
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Six new airports to come up in Rajasthan
In Rajasthan, as many as half-a-dozen new airports are either proposed or nearing completion. As such you can skip the tiresome journey to popular tourist and business towns in the state and opt for a flight, instead. The Airport Authority of India (AAI) has stated that its plans to open an airport at Sawai Madhopur, home to the big cats. A team of AAI will visit Sawai Madhopur to find the possibilities of flight operation from this part of the state.