Finance
Sun TV founder to buy into SpiceJet; make open offer
Monday, June 21st, 2010The founder of Sun TV Kalanithi Maran and his unlisted aviation firm Kal Airways have agreed to buy 37.7 per cent in budget airline SpiceJet Ltd andwill make an open offer for a further 20 per cent, SpiceJet said.
Air India Outlines Debt Plan
Monday, June 21st, 2010Air India has current outstanding long-term debt of about $5 billion (233 billion rupees) and is considering several steps including selling non-core assets to improve its balance sheet, said a senior executive at the loss-making carrier.
Maran, with $3 bn net worth, makes open offer for SpiceJet
Monday, June 21st, 2010After signing a deal to acquire 37.73 percent stake in budget carrier SpiceJet, Sun TV Network promoter Kalanithi Maran on Monday made the mandatory open offer to buy another 20 percent from the public at Rs 57.76 per share.
India’s private airlines land back in profit
Sunday, January 31st, 2010Some of India’s money-losing private airlines declared soaring profits in the December quarter, beating analysts’ estimates and indicating strongly that the country’s ailing aviation industry is on the cusp of economic recovery after a turbulent year.
Vijay Kelkar pitches for full privatisation in aviation sectors
Sunday, January 31st, 2010Finance commission chairman Vijay Kelkar today pitched for complete privatisation in certain sectors such as airline industry to ensure a level-playing field for all players to equip them face the global competition.
Air India to receive additional equity soon: Patel news
Sunday, January 31st, 2010After securing an initial Rs800-crore bailout for Air India, civil aviation minister Praful Patel is hopeful that the government would infuse “more” equity in the national carrier in the near future.
Aviation security body sits on funds
Sunday, January 31st, 2010Despite increased terror threat to aviation, the Bureau of Civil Aviation Security (BCAS), the country’s apex agency responsible for security in the air, has failed to utilise the funds meant for upgrading security infrastructure and equipment.
Kelkar bats for Air India disinvestment
Sunday, January 31st, 2010The Finance Commission Chairman, Mr Vijay Kelkar, has batted for disinvestment of Air India with an aim to achieve twin objectives — to improve the organisation’s efficiency; and routing the sale proceeds towards areas like rural roads and canals, which call for Government funding.
It is flight to safety for airline companies
Sunday, January 31st, 2010The third quarter numbers published by airlines have revived hopes that these companies aren’t too far from a financial take-off.
Lower prices help lift fortunes at India’s troubled airlines
Sunday, January 17th, 2010Indian travellers are once more taking to the skies, raising hopes that ailing Indian air carriers – badly hit by a 5 per cent drop in passenger numbers in 2008 – could be poised for an improvement in fortunes.