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
Tag: Air India
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Air India to up its flight services in regional routes
Now, Air India wants to expand its presence on regional routes after SpieceJet. SpiceJet's success in tier-II and III markets has propelled the State-run carrier to the move. It will shortly invite bids to replace its fleet of 11 ATR-42s and Bombardier CRJ planes with newer fuel-efficient turbo prop planes to improve its operating result.
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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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Govt to infuse Rs 5,000 cr equity into AI
The government on February 28 announced Rs 5,000 crore additional equity infusion for debt-ridden national carrier Air India in the next fiscal as part of its turn around plan. Rs 5,000 crore (has been marked) for equity infusion in National Aviation Company of India (now Air India), according to Budget documents.
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Air India’s performance has improved: Economic Survey
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.
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Alliance Air to resume operations from Kochi on Mar 1
Air India's subsidiary Alliance Air will resume operations from Kochi to Agatti and back from March 1, 2013. The ATR aircraft will operate on Mondays, Tuesdays, Thursdays and Saturdays.
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Airbus upbeat on India demand
In the face of financial woes creeping across its airline sector, Airbus is sticking to upbeat forecasts for aircraft demand in India. The European planemaker recently said in Singapore that there is a lot of growth. The Indian aviation industry lost a combined $2 billion last year and all but unlisted IndiGo - an Airbus customer - lost money, complaining of high taxes on jet fuel, expensive airports and subsidies to state carrier Air India.
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Air India still wary about joining the fare war
Air India is the only one domestic airline that has not joined fare war on February 19 morning. Jet Airways announced one of the biggest fire sales in domestic aviation with low ticket prices of Rs 2,250 on 20 lakh seats on the day. Within hours, IndiGo had matched JetÂ’s fares on many sectors; SpiceJet has already completed a similar firesale last month where it sold 10 lakh tickets at Rs 2,013 each.
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AI clears its major share of dues to Delhi, Hyd airports
Air India has cleared a large chunk of its dues to GMR-led operators of Delhi and Hyderabad airports, with the latest instalment of Rs 415 crore being paid a few days ago. A GMR spokesperson said that Air India has made large payments over the last two months to clear the outstanding dues to the GMR Group. GMR is hopeful that Air India will clear the remaining dues in an expeditious manner to reach a regular payment status.
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Enhance plan allocation | Budget 2013-14
Aviation Finance Corporation (AFC), an SPV providing dedicated capital, can be set up by the government to facilitate lower interest rates and longer maturity of loans. Private airport operators should be allowed to issue long term non-taxable infrastructure bonds to raise the required funding from the market. RBI limits on sectoral funding should be eased, thereby removing the current compulsion for airport developers to raise required funds/debt from multiple banks, making process time consumi