International pension funds with the appetite to park investments for several years are expected to be the primary suitors for the highway contracts to be auctioned next month by the National Highways Authority of India (NHAI). Experts believe that the government’s rationale behind the proposed auction is to generate cash to financially support its next […]
Day: July 20, 2017
Jet Airways cutting pilot pay to trim costs, sources say
Jet Airways , India’s second-largest airline by market share, has asked dozens of its junior-ranking pilots to accept 30-50 percent pay cuts, or quit, as it moves to bring down its costs, according to two sources and letters seen by Reuters. Jet Airways has proposed salary and stipend cuts in letters sent to pilots earlier […]
Aviation safety regulator DGCA flies into inflight Hindi debate
India’s aviation regulator has directed airlines to carry more Hindi newspapers and magazines so that equal numbers in both English and Hindi languages are offered to passengers, seemingly overstepping its role as an air safety enforcer and sparking criticism that it is contributing to the promotion of Hindi. “It has been seen that Indian aircrafts […]
Kerala firm gets initial govt nod for sea plane operations
The government has given the initial no objection certificate to a Kerala-based company to operate sea planes, Union minister Jayant Sinha said today. “Initial no objection certificate has been granted to Sea Bird Seaplane Pvt Ltd, a Cochin-based company, to operate non- scheduled air transport service with sea plane Quest Kodiak 100 type of aircraft,” […]
Airlines can’t impose flying ban, breach of privilege of MPs: Kurien
Airlines have no authority to impose a flying ban on anybody, including parliamentarians, and the law of the land should take its course, Rajya Sabha Deputy Chairman P J Kurien said on Wednesday. The remarks came after SP member Naresh Agrawal raised the issue of a recent flying ban imposed by major domestic airlines, including […]
Oil steady after big drop in US fuel stocks, but markets remain bloated
Oil prices held steady on Thursday, hanging on to gains made the previous session when falling U.S. crude inventories lifted the market, as analysts offered mixed supply outlooks for the commodity ahead of a key OPEC meeting next week. Crude oil prices are still capped below the $50-per-barrel mark on concerns about high production from […]
ONGC goes up 3% on Cabinet nod to govt’s stake sale in HPCL
Shares of Oil and Natural Gas Corporation rose by nearly 3 per cent today after the Cabinet approved sale of the government’s stake in oil refiner HPCL to India’s largest oil producer ONGC. Defying its sluggish opening, the ONGC stock gained 2.91 per cent to Rs 167.80 on the BSE. On the NSE, the scrip […]