With a positive cash flow, Air India is likely to come out of its precarious financial position in this financial year as its performance has improved considerably. It is expected that the company will achieve positive EBIDTA (earnings before income, taxes, depreciation and amoritization) in the results for the Financial Year 2012-13, the government's key economic document, tabled in Parliament, said on February 27.
Category: Aviation & Airports
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Air India ups efforts to raise money for its turn around
Apart from leasing its headquarters building in Mumbai, cash-strapped Air India has identified some more properties to monitise them in order to raise Rs 5,000 crore as part of its turn around and financial restructuring plan, Civil Aviation Minister Ajit Singh said on February 27. Air India has identified land at Chennai, Coimbatore and Kolkata, residential plot at DLF Phase-III Gurgaon, a residential apartment in Kolkata and four unoccupied flats in Mumbai, Singh said this in the Lok Sabha.
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IGI airport in Delhi wins International safety award
The IGI airport in Delhi, operated by Delhi International Airport (DIAL), has become the first Indian facility to bag the 'International Safety Award' from British Safety Council. This makes Indira Gandhi International airport (IGI), as the first and the only airport in India to win this prestigious award in field of health and safety.
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Plea to increase AI flights for Leh at reduced fare
Minister for Urban Development and Urban Local Bodies, Nawang Rigzin Jora, on February 28 urged upon the Centre to increase frequency of Air India Flights to at least one flight per day on Delhi-Leh sector besides pushing private aviation companies like spice jet or indigo to operate on this route in the backdrop of closure of Kingfisher Airline.
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Aviation sector not satisfied with budget 2013-14
CII's National Committee on Civil Aviation expressed dissatisfaction over the Union Budget 2013-14 as it feels that the budget has not done enough to boost the aviation sector. Even as it welcomed the the concessions granted to the MRO (Maintenance, Repair and Overhaul) sector, it noted that MRO industry is "small right now taking the aircraft population into account
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New transportation head
GE announced the appointment of Nalin Jain as the President and CEO of GE Transportation in India. Nalin take up this responsibility in addition to his existing role as the Head of GE Aviation in India.
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Ministry to replace DGCA with new regulatory body
The Union government is likely to place a new legislation in the ongoing session of Parliament that will replace the Director General of Civil Aviation (DGCA), the present regulator, with a new autonomous regulatory body.
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AP to set up civil aviation board
The Andhra Pradesh Government is considering setting up a State Civil Aviation Board under the chairmanship of the Chief Minister N Kiran Kumar Reddy to oversee development of new airports in tier II cities.
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Reliance Infra seeks better feeder service
Reliance Infrastructure as¡k¡¡ed the union urban development ministry to upgrade feeder services and improve connectivity for the Airport Express Line. The company feels that better connectivity and improved feeder services for the Shivaji metro station, which
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Delhi airport wins international safety award
The Indira Gandhi Inter¡national airport (IGI) in Delhi, operated by Delhi International Airport (DIAL), has become the first Indian facility to bag the British Safety Council's 'International Safety Award'. This makes IGI as the first and the only airport in India to