For Visakhapatnam, which boasts of a national highway, a major railway junction and one of the best ports, lack of good air transport facility is a drawback. The City of Destiny, as a result, lags far behind not only in terms of passenger travel but also cargo transportation. And for some strange reason, expansion works of the airport are progressing at a snailĂâs pace notwithstanding promises from all stakeholders.
Category: Aviation & Airports
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GMR Infra eyes new projects, investments
Bangalore-based GMR Infrastructure plans to start looking selectively at possible new investments after a year of an investment holiday. The firm will expand its EPC, or engineering, procurement and construction, business to take on projects that other firms are developing, said Parmit Chadha, Chief Executive Officer for strategy and corporate development.
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Govt releases Rs 800 cr to Air India
Air India has got Rs 800 crore from the Union Ministry of Civil Aviation. It is the first tranche of the sum assured to Air India this financial year as part of the turnaround plan to infuse equity for the revival of the cash-strapped national carrier. The government reviewed the performance of the airline and is satisfied with the feedback it has received, an official concerned said.
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Jet Airways sells stake to Etihad for Rs 2,050 cr
To acquire a 24 per cent stake in Jet Airways, the airline in India, Etihad Airways is set to invest $379 million (Rs 2,050 crore. This is part of a $600-million commitment to strengthen the partnership between the two airlines.
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Jharsuguda airport to be expanded in 119 acres
For expansion of Jharsuguda airport, the Odisha government has asked the Jharsuguda district collector to identify 119 acre of land there. In a letter to the district collector, the government last week stated that the land should be identified according to the demand and revised master plan of the Airports Authority of India (AAI) for expansion of Jharsuguda airport, spread over 909.22 acre.
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Cargo operations to begin at Mangalore airport from May 1
From the air cargo complex at Mangalore airport, air cargo operations will begin on May 1, JT Radhakrishna, Director of Mangalore International Airport has said. The air cargo complex at the airport was inaugurated by the Union Civil Aviation Minister Ajit Singh on March 18.
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India, UAE tie-up on air services
Following a two-day bilateral negotiation at Abu Dhabi on April 24 India and United Arab Emirates (UAE) signed an MoU on air services. The UAE had urged India to allocate additional 40,000 seats per week, grant Goa, Pune, Amritsar and Lucknow as additional points of calls, remove the maximum cap prescribed from each point of call in-term of seats/ frequency per week and allow 3rd country /domestic code share facility.
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GMR Infra restructures energy vertical
GMR Infrastructure has reportedly restructured its energy business, which posted a net loss of 160 crore during Oct-Dec 2012 against a net loss of 84.3 crore a year ago, largely owing to fuel constraints. Until some time ago, there were no separate units for this segment, but now the company created several verticals so that complete responsibilities are on the head of th
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Kanpur airport to be connected with major cities
Kanpur (Ahirwan) Airport is poised for expansion. After the expansion, citizens of Kanpur can avail direct flights to Gujrat, Tamilnadu and Maharashtra. The airport will soon be extended as the land for it has been identified and soon the acquisition proceedings will be underway. According to Sub Divisional Magistrate, Kanpur, IP Uttam, the airport authority has identified a land of around 100 acres in Sheikhpur and Mavaiya villages.
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GMR competes for Filipino airport project
In the Philippines, India's GMR Infrastructure company is learnt to have filed qualification documents for a formal bid to develop 17.5-billion peso ($425 million) Mactan-Cebu International Airport project. The documents have been filed by GMR in a consortium with local Megawide Construction.