After the Airports Economic Regulatory Authority (AERA) revised the airport tariffs, the Airports Authority of India (AAI) is expecting a net profit of Rs 1,500 crore this fiscal on account of increase in revenue.
AAI said that it expects to earn a net profit of Rs 1,500 crore as it has seen improvement because of new increased tariff regime of AERA. AAI claimed that the State-run airport operator would not lose any revenue on account of privatisation of six airports, including Kolkata and Chen
Tag: Magazine
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AAI eyes Rs.1,500 cr profit this fiscal
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Belgaum airport upgrade
Belgaum airport in Karnataka is set to be upgraded. The existing runway in the airport will be extended to 1,830 m. The Union government has granted Rs 293 crore for the airport upgradation work. To make way for ATR-72 flights, the airport will be upgraded. ATR-72 flight has a capacity to accommodate 78 passengers and once the runway is stretched, more flights can be introduced from Belgaum.
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GVK, Aurizon tie-up
To develop a rail line and a new coal terminal jointly in Australia, GVK Coal Infrastructure (Singapore) Pte Ltd (GVK Hancock) and Aurizon Holdings of Australia have reached an agreement. The two projects are to come up at the Abbot Point Port to unlock the Galilee Basin´s coal resources in Australia. The tie-up is intended to provide sufficient equity and debt funding, including through third party debt finance, for the projects to reach financial closure.
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GVK, Aurizon tie-up
To develop a rail line and a new coal terminal jointly in Australia, GVK Coal Infrastructure (Singapore) Pte Ltd (GVK Hancock) and Aurizon Holdings of Australia have reached an agreement. The two projects are to come up at the Abbot Point Port to unlock the Galilee Basin´s coal resources in Australia. The tie-up is intended to provide sufficient equity and debt funding, including through third party debt finance, for the projects to reach financial closure.
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Blore airport to get satellite navigation
A satellite-based navigation system is ready at Bangalore International Airport to ensure there are no delays in landing, long queues of aircraft to land or take off, delays in take-off and extended hovering. Hence passengers from Bangalore airport will get to depart and arrive on time on almost every flight with the functioning of the satellite-based navigation system.
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AI lifts cargo from Trichy
The Air India Express has decided to lift cargo from Trichy airport. Exporters from the region have been demanding Air India Express to lift cargo for long, and after the grounding of Mihin Lanka from April this year, the cry for cargo became strident. Since most of the exports are perishables, the Sri Lankan is the preferred carrier since it is the only airline that connects to most of the destinations in Europe and the Middle East.
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Logistics firms to invest in rural India
To deliver packages to the millions of online shoppers in rural India, logistics sector is likely to invest at least Rs 500 crore in the next five years by setting up small outlets in the vast rural landscape. Gati and Blue Dart Express are aggressively penetrating deeper into India to tap the potential lying with more internet savvy and well-off consumers. Investment will be in the form of technology, office space, people, fleet, warehouses and new processes.
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AI lifts cargo from Trichy
The Air India Express has decided to lift cargo from Trichy airport. Exporters from the region have been demanding Air India Express to lift cargo for long, and after the grounding of Mihin Lanka from April this year, the cry for cargo became strident. Since most of the exports are perishables, the Sri Lankan is the preferred carrier since it is the only airline that connects to most of the destinations in Europe and the Middle East.
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Govt awards 13 port projects worth Rs.5,515 cr in Apr-Nov
During April-November period, the Union Shipping Ministry has awarded Rs 5,515 crore worth 80 million tonne (mt) projects. The awarded projects are more than 70 per cent of the 114 mt awarded last year at an investment of Rs 5,515 crore, according to reports. This year, so far, a total of 13 projects, including five public-private partnerships (PPPs), have been awarded.
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NTPC to use waterways
On transporting coal through waterways from Sagar Islands to Farakka in West Bengal, the National Thermal Power Corporation (NTPC) hopes to save about Rs 450 per tonne. NTPC wants to transport the imported coal of 3 million tonne through waterways on barges under a new arrangement with Jindal ITF, which has set up facilities for unloading 3 million tonne of imported coal every year at Sagar Islands.