Airlines need a proper business model to conform to Indian conditions Budget airline Go First hastily filed for bankruptcy protection earlier this month and suspended its operations for a few days. According to reports, the lessors of the 20 aircraft that Go First leased have also petitioned India’s aviation authority to deregister them, enabling their...
To lessen pressure on the country's current account deficit (CAD) the government-owned oil companies have been asked by the Union government to fund their foreign acquisitions entirely with foreign debts instead of using their own cash reserves or taking domestic loans.
The government said that by doing so the companies don't spend India's foreign exchange reserves and put more pressure on the current account deficit.
To get more crude oil to India, oil companies want the Union government to allow them to import crude oil on what is called the cost, insurance and freight (cif) basis, without requiring any approval from the Shipping Ministry. The move is expected to eventually help more foreign flagged vessels to ship crude oil to India. Allowing crude imports on cif basis will transfer the power of how crude oil carriers are chosen to the selling party Â— that is, firms in other countries.
To supply jet fuel to carriers at reduced prices, Airports Authority of India (AAI) will form a joint venture (JV) with local airlines and oil companies and Reliance Industries (RIL) will be a part of it, AAI's Chairman VP Agrawal said on April 16. The Airports Authority of India will own a 13 per cent stake in the JV and the rest will be held by oil companies and airlines, he said.