Erstwhile Indian Airlines to lose remaining legacy to Air India
Soon, passengers on flag carrier Air India's network will no longer have to travel on separate tickets for domestic and international flights, giving the code 'IC' of erstwhile Indian Airlines a formal burial.The combined entity, following the successful trials of the new single ticket reservation system, is adopting a single code 'AI', a statement by the carrier said on Thursday.
The move follows the 2007 merger of Indian Airlines into Air India along their low-cost subsidiaries like Air India Express and Alliance Air, with the corporate entity formally called the National Aviation Company of India Ltd.
'The shift would hasten Air India's entry into Star Alliance, the world's largest integrated air transport network,' said Arvind Jadhav, chairman and managing director of Air India.
'This would ensure a number of additional facilities which would make the passengers' journey enjoyable and hassle-free,' he said while indicating that the single code will be formally launched some time around mid-February.
India's MRO industry to be worth USD 1.5 billion by 2020
India is poised to become the fastest growing market in the world for aircraft Maintenance, Repair and Overhaul (MRO) services over the next decade tripling its worth to USD 1.5 billion, as airline companies buy more planes to cater for the country’s rapidly growing traffic.
“The MRO spend by airlines in India now is USD 500 million and is expected to grow to USD 1.5 billion in 2020. As a result, we expect significant investment to come into this space over the next ten years,” said Vivek N Gour, Managing Director, Air Works
According to a report in Economic Times, industry experts have estimated that Indian air traffic will triple to 362 million passengers by 2021-22, by which time the country’s air carriers would have more than doubled their fleet to about 1,000 aircraft.
Experts also estimate that MRO revenues, a direct function of the number of aircraft, are growing at a compounded annual rate of 15 per cent in India, which makes this space attractive. The MRO space is a USD 45-billion market globally, of which India constitutes only one per cent.
“The MRO spend by airlines in India now is USD 500 million and is expected to grow to USD 1.5 billion in 2020. As a result, we expect significant investment to come into this space over the next ten years,” said Vivek N Gour, Managing Director, Air Works
According to a report in Economic Times, industry experts have estimated that Indian air traffic will triple to 362 million passengers by 2021-22, by which time the country’s air carriers would have more than doubled their fleet to about 1,000 aircraft.
Experts also estimate that MRO revenues, a direct function of the number of aircraft, are growing at a compounded annual rate of 15 per cent in India, which makes this space attractive. The MRO space is a USD 45-billion market globally, of which India constitutes only one per cent.
Kingfisher Airlines to induct eight aircraft by October
Kingfisher Airlines will add eight aircraft to its fleet by October in order to arrest a slide in market share. The aircraft will be taken on lease from the market, said the company in a recent presentation to investors. This is the first time in more than a year that the airline has indicated a plan to expand. Even in a growing market, Kighfisher could not deploy 14 aircraft which were grounded due to an engine problem.
Kingfisher plans to put all 14 grounded aircraft in air by March this year, as it has been able to resolve the maintenance and overhaul issues with the engine manufacturer IAE.
Kingfisher plans to put all 14 grounded aircraft in air by March this year, as it has been able to resolve the maintenance and overhaul issues with the engine manufacturer IAE.
Turbulence hits Jet Airways’ fundraising plan again
Naresh Goyal-owned Jet Airways’ bid to raise $400 million through a qualified institutional placement (QIP) has been scuttled again.
According to three people privy to the development, the Foreign Investment Promotion Board (FIPB) has rejected the airline’s request for a relaxation of the foreign direct investment (FDI) limit of 49% to be able to get the funds in.
The civil aviation ministry had put two conditions to Jet’s fundraising plan. First, the carrier must bring down its FDI level within the sectoral cap of 49% in three years after the QIP. Second, the control of the airline should not be in foreign hands.
Jet had sought an exception to these rules, which has been turned down by the FIPB.
Industry sources say this is the third or fourth time Jet’s proposal has been rejected in the last 6-7 months. The last time it was rejected, in October 2010, the government had sought more clarification on the QIP issue.
Bringing down FDI level is easier said than done, considering Goyal holds a whopping 79.9% in Jet through Tail Winds, which is registered in the Isle of Man. Foreign institutional investors hold 6.55%, domestic institutional investors 9.19%, retail investors 3.35% and corporate bodies 0.91% stake in the company.
According to three people privy to the development, the Foreign Investment Promotion Board (FIPB) has rejected the airline’s request for a relaxation of the foreign direct investment (FDI) limit of 49% to be able to get the funds in.
The civil aviation ministry had put two conditions to Jet’s fundraising plan. First, the carrier must bring down its FDI level within the sectoral cap of 49% in three years after the QIP. Second, the control of the airline should not be in foreign hands.
Jet had sought an exception to these rules, which has been turned down by the FIPB.
Industry sources say this is the third or fourth time Jet’s proposal has been rejected in the last 6-7 months. The last time it was rejected, in October 2010, the government had sought more clarification on the QIP issue.
Bringing down FDI level is easier said than done, considering Goyal holds a whopping 79.9% in Jet through Tail Winds, which is registered in the Isle of Man. Foreign institutional investors hold 6.55%, domestic institutional investors 9.19%, retail investors 3.35% and corporate bodies 0.91% stake in the company.
YIPIEE !! AERO-INDIA 2011 IS HERE !!
With ''Aero India 2011'' just a few weeks away, aviation and defence companies are gearing up to showcase their products at the international aerospace show.
The Indian Air Force (IAF) is busy readying the venue - the Yelahanka Air Force Station - for the event.
Of the defence PSUs, the Bharat Electronics Limited (BEL) will display the indigenously developed Network Centric Warfare technologies. It makes use of computer processing power and networking communications technology to provide shared information of the battle space among defence forces. The NCW solutions include Command and Control System, a major display on Air Space Management; Multi-Sensor Tracking, Situation Simulator and Tactical Algorithm for Air Defence applications; Battlefield Management System for supporting military users of all levels in a tactical battle area - from the individual soldier up to the Battalion HQ; Coastal Surveillance System, an all-weather 24x7 surveillance system for safeguarding the nation’s coastline.
BEL will also showcase Software Defined Radios, Next Generation Bulk Encryptor and High Data Tactical Radio, Radar Finger Printing System (RFPS), an airborne equipment that carries out Fine Grain Analysis; Digital Flight Control Computer (DFCC), a computer-used onboard aircraft for flight control functions; and Identification Friend or Foe, an electronic system which can determine the intent of an aircraft.
NOW ITS TIME WE GET OURSELVES A TICKET BOOKED AND HEAD STRAIGHT FOR THE IT CAPITAL OF INDIA i.e BANGALORE !
SO WHEN ARE WE MEETING EH?
The Indian Air Force (IAF) is busy readying the venue - the Yelahanka Air Force Station - for the event.
Of the defence PSUs, the Bharat Electronics Limited (BEL) will display the indigenously developed Network Centric Warfare technologies. It makes use of computer processing power and networking communications technology to provide shared information of the battle space among defence forces. The NCW solutions include Command and Control System, a major display on Air Space Management; Multi-Sensor Tracking, Situation Simulator and Tactical Algorithm for Air Defence applications; Battlefield Management System for supporting military users of all levels in a tactical battle area - from the individual soldier up to the Battalion HQ; Coastal Surveillance System, an all-weather 24x7 surveillance system for safeguarding the nation’s coastline.
BEL will also showcase Software Defined Radios, Next Generation Bulk Encryptor and High Data Tactical Radio, Radar Finger Printing System (RFPS), an airborne equipment that carries out Fine Grain Analysis; Digital Flight Control Computer (DFCC), a computer-used onboard aircraft for flight control functions; and Identification Friend or Foe, an electronic system which can determine the intent of an aircraft.
NOW ITS TIME WE GET OURSELVES A TICKET BOOKED AND HEAD STRAIGHT FOR THE IT CAPITAL OF INDIA i.e BANGALORE !
SO WHEN ARE WE MEETING EH?
NOW GET THAT MONEY BACK ON CANCELLING !
Booked a non-refundable ticket and didn`t fly? You won`t lose your money any longer.
Passengers can now cancel their non-refundable air tickets until two hours before departure and get a refund of taxes, fuel surcharge, passenger service fee and user development fee. This means a flyer stands to get back Rs 1,300 to Rs 3,800, depending on the distance and the fare. Fuel surcharge varies from Rs 1,000 for a short-haul domestic flight to Rs 3,500 for a long-haul journey. Most low-cost carriers charge Rs 229 as passenger service fee and Rs 103 service tax.
The decision, a long-standing demand of flyers, was made after talks between airlines and the Civil Aviation Economic Advisory Council last month. Also, full-service airlines have cut their cancellation fees.
"This is a big relief for passengers, especially for those buying round trip tickets" said passengers association president D Sudhakara Reddy. "Those taking round trip tickets were losing money even if they missed only one leg of the journey."
Travel agents said that full service airlines have reduced the cancellation fee.
NOW I BET THAT IS GOOD NEWS FOR ALL OF US ! BUT DO YOU THINK THIS RAVE MOVE WILL BETTER THE PASSENGER TRAFFIC IN ANY WAY WHATSOEVER?
Passengers can now cancel their non-refundable air tickets until two hours before departure and get a refund of taxes, fuel surcharge, passenger service fee and user development fee. This means a flyer stands to get back Rs 1,300 to Rs 3,800, depending on the distance and the fare. Fuel surcharge varies from Rs 1,000 for a short-haul domestic flight to Rs 3,500 for a long-haul journey. Most low-cost carriers charge Rs 229 as passenger service fee and Rs 103 service tax.
The decision, a long-standing demand of flyers, was made after talks between airlines and the Civil Aviation Economic Advisory Council last month. Also, full-service airlines have cut their cancellation fees.
"This is a big relief for passengers, especially for those buying round trip tickets" said passengers association president D Sudhakara Reddy. "Those taking round trip tickets were losing money even if they missed only one leg of the journey."
Travel agents said that full service airlines have reduced the cancellation fee.
NOW I BET THAT IS GOOD NEWS FOR ALL OF US ! BUT DO YOU THINK THIS RAVE MOVE WILL BETTER THE PASSENGER TRAFFIC IN ANY WAY WHATSOEVER?
