New Delhi: The Civil Aviation Ministry has started working overtime to formulate a new policy to cater to the latest concerns of the aviation industry, especially issues relating to its sustainability like jet fuel pricing, infrastructure, airfare pricing, safety and security. A meeting of major stakeholders and senior Ministry officials was held on Friday to list the entire gamut of issues, elicit the views of the industry and service providers...
08:05 PM, Jan 27, 2012
New Delhi: India's beleaguered airline industry was thrown a potential lifeline on Tuesday when the Aviation Ministry said it would recommend that the government allow foreign airlines to buy stakes of up to 49 per cent in Indian carriers. India currently bars foreign airlines from buying into Indian airlines, although foreign investors are allowed to hold a cumulative 49 per cent. "The question was to allow other airlines to participate...
01:21 AM, Jan 18, 2012
New Delhi: The Aviation Ministry proposes to provide Rs 330 billion to cash-strapped Air India by 2017 as part of the government's 12th Five-Year Plan, according to a working group report seen by Reuters. The proposed aid would include an equity infusion of 199 billion rupees into the loss-making carrier and 112 billion rupees for aircraft projects, including purchases and maintenance, the report shows. The report says the total debts...
09:58 AM, Dec 31, 2011
New Delhi: The CBI has written to the Civil Aviation Ministry once again seeking an early decision on its request seeking sanction for prosecution against six officers, including a joint secretary, for alleged irregularities in the over Rs 8,000-crore Airbus deal for supplying 43 aircraft to erstwhile Indian Airlines in 2005. The reminder was sent as the agency completed its probe in the Preliminary Enquiry, sources said, adding prima-facie it...
05:53 PM, Dec 21, 2011
New Delhi: Seeking to turnaround the cash-strapped Air India, the government is considering a nearly Rs 30,000 crore package for the national carrier over a period of 10 years, official sources said on Monday night. According to the proposal, the government is considering writing off Rs 4,500 crore cash loss of Air India, infusing an additional equity of Rs 6,750 crore and Rs 17,000-18,000 crore for its fleet acquisition programme....
04:33 AM, Nov 29, 2011
New Delhi: There is a tussle between the Civil Aviation Ministry and Industries Ministry over the extent of allowing foreign airlines to invest in domestic carriers. Civil Aviation Ministry sources have said that they are firm on a 24 per cent cap on the extent of FDI by foreign carriers while the Industry Ministry has batted for a minimum of 26 per cent. A note by the Department of Industrial...
01:28 PM, Nov 17, 2011
New Delhi: As the Kingfisher crisis deepens, the debate has shifted from whether it should be bailed out to whether foreign airlines should be allowed to invest in Indian domestic carriers. The government remains non-committal. Civil Aviation ministry could allow foreign airlines to invest in Indian domestic carriers. The Aviation Minister says they could take up the issue when it comes up. "I have not applied by mind to the...
09:08 PM, Nov 13, 2011
New Delhi: The Government on Thursday ruled out disinvestment of Air India saying it is trying to bring the cash strapped national carrier to 'no-profit, no-loss' status. "There is no plan of disinvestment in Air India or to bring an IPO in the near future by the government. As a Civil Aviation Minister my first priority is to bring Air India in no-profit no-loss," Civil Aviation Minister Vayalar Ravi said...
03:06 PM, Oct 20, 2011
New Delhi: Civil Aviation Minister Vayalar Ravi on Thursday night said the Government's decision to acquire 111 aircraft for Air India, which came in for severe criticism from CAG, was a collective one to strengthen the national carrier. He said there was no question of taking any hasty decision and the Cabinet, the Empowered Group of Ministers (EGoM) and other bodies were involved in taking the decision. "Two committees were...
10:17 PM, Sep 08, 2011
New Delhi: The Comptroller and Auditor General (CAG) report on Air India has come down heavily on the Civil Aviation Ministry while terming the acquisition of aircraft by the airline as "risky" and a "huge waste". The report, tabled in Parliament on Thursday, also called the merger of Air India and Indian Airlines as "ill-timed". Former Civil Aviation minister Praful Patel was in trouble after the CAG report blamed the...
09:28 PM, Sep 08, 2011
New Delhi: Former Civil Aviation Minister Praful Patel on Thursday defended himself and said the purchase of aircraft and the Air-India Indian Airlines merger were collective government decisions. The Comptroller and Auditor General (CAG) report had earlier slammed the Aviation Ministry for the decisions. Patel said it was known that finances of airlines is not good enough for acquisition. "Losses got compounded due to delay in acquisition," said Patel. He...
06:26 PM, Sep 08, 2011
Former civil aviation minister Praful Patel spoke exclusively to CNN-IBN after the CAG tabled its reported in Parliament. Patel said it was the whole government who took decisions for Air India. ...
02:43 PM, Sep 08, 2011
New Delhi: The Comptroller and Auditor General (CAG) report on Air India has come down heavily on the Civil Aviation Ministry while terming the acquisition of aircraft by the airline as "risky" and a "huge waste". The report, tabled in Parliament on Thursday, also called the merger of Air India and Indian Airlines as "ill-timed". According to the CAG that no benchmark for the cost of aircraft was carried out...
12:45 PM, Sep 08, 2011
New Delhi: Faced with a twin attack from oil PSUs and operators of Delhi and Hyderabad airports asking it to clear their dues, Air India on Saturday drew up plans to combine13 flights spread over a few sectors till the start of the lean season from mid-June. In a bid to face the fresh financial crisis, the ailing national carrier sent a letter to the Civil Aviation Ministry urging the...
06:56 PM, May 28, 2011
New Delhi: Air India pilots are on strike as a fallout of the merger of Air India and Indian Airlines. While Air India today staring at a loss of over Rs 13,000 crore and the management is struggling to operate daily services, the Civil Aviation Ministry could have saved the national career from this mess. The Comptroller and Auditor General of India (CAG) believes Air India incurred Rs 10,000 crore...
09:45 PM, May 05, 2011
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