State-run Punjab National Bank (PNB) on Wednesday said any decision to provide emergency funds to cash-strapped Jet Airways will be taken collectively by the lenders and not on a standalone basis. The assertion comes in the backdrop of media reports that PNB had approved Rs 2,050 crore of emergency funding to Jet Airways, for which […]
Day: March 14, 2019
70 MW open access solar project to be developed in Uttar Pradesh
Uttar Pradesh will soon have a 70 MW open access solar photovoltaic (PV) project. The project, which falls under Uttar Pradesh’s Open Access Program, will be developed by SunSource Energy. The project was allocated under the UPERC CRE Regulation, 2014. The power generated by this project will be sold through long-term power purchase agreements (PPAs) […]
Jet’s planes may be diverted to plug demand due to bans on 737 Max: Lessor
Debt-laden Jet Airways India Ltd. faces the prospect of seeing some of its leased Boeing Co. 737-800 aircraft reallocated to other carriers as a global grounding of the planemaker’s newest Max series spurs demand for other models. BOC Aviation Ltd., the company leasing some of them to Jet Airways, is seeing “quite a lot of […]
Boeing’s $600-bn orders at risk as clients rethink 737 Max purchases
Boeing Co.’s $600 billion-plus order book for its 737 Max began shaking after several big customers threatened to reconsider their purchases in the wake of the Ethiopian Airlines crash, the second deadly accident involving the plane since October. VietJet Aviation JSC, which doubled its order to about $25 billion only last month, said it will […]
ONGC’s Mumbai High, Vasai East came close to being sold, stopped after opposition
State-owned ONGC’s nine biggest oil and gas fields including Mumbai High and Vasai East came tantalizing close to being sold to private and foreign companies but the plan was nixed after strong opposition from within the government, sources said. A high-level committee headed by Niti Aayog Vice Chairman Rajiv Kumar late last year considered “transferring” […]
Airfares soar over 100% as airlines cancel flights after 737 MAX grounding
Air passengers face the grim prospects of high air fares and fewer flight choices as several airlines cancel operations due to a number of reasons including the grounding of 737-MAX aircraft. According to industry insiders, some sectors have shown a rise of more than 100 per cent in last minute bookings. “With an unprecedented number […]
RInfra to sell entire stake in Delhi-Agra Toll Roadway for Rs 3,600 crore
Reliance Infrastructure Ltd Thursday said it will sell its entire stake in Delhi-Agra Toll Roadway to Singapore-based Cube Highways for Rs 3,600 crore, following which the Anil Ambani led company’s debt will be reduced by 25 per cent to less than Rs 5,000 crore. Reliance Infrastructure (RInfra) has entered into a pact with Cube Highways […]
Reliance halts oil exports to Venezuela in view of US sanctions
NEW DELHI: Reliance Industries on Wednesday said it has stopped all oil exports to US sanction-hit Venezuela and will not resume sales until sanctions are lifted. Reliance, whose twin refineries at Jamnagar in Gujarat were a major importer of Venezuelan crude oil, has reduced purchases by about a third. “Since the US government imposed sanctions […]
Boeing 737 Max ban: Aviation ministry calls contingency plan meeting at 4 pm
NEW DELHI: The Civil Aviation Ministry will hold a meeting with airlines at 4 pm on Wednesday to prepare a contingency plan as a number of flights have been cancelled following the grounding of Boeing 737 Max 8 aircraft, a senior government official said. On Tuesday night, the Directorate General of Civil Aviation (DGCA) announced […]
SpiceJet cancels 14 flights for Wednesday as DGCA grounds Boeing 737 Max 8 aircraft
NEW DELHI: Following the grounding of Boeing 737 Max 8 aircraft by Indian aviation watchdog DGCA, SpiceJet Wednesday said it has cancelled 14 flights and will be operating additional flights from Thursday. The airline has around 12 such aircraft in its fleet. SpiceJet has presently announced the cancellation of 14 flights for today and will […]
Vistara gets all clear to fly abroad
NEW DELHI/MUMBAI: Full service carrier Vistara has been granted permission to fly international routes, civil aviation secretary Pradeep Singh Kharola said on Wednesday. The joint venture between Singapore Airlines Group and Tata Sons had sought government clearance last June when it added its 20th aircraft and became eligible for offering international service. The license to […]
NHPC may bid for road construction contracts
New Delhi: In what will add to the competition in the road-construction space, state run NHPC Ltd. is exploring to bid for road projects, said a top company executive. This development comes in the backdrop of a revival of the highway sector and will pit the public sector unit (PSU) against private road sector developers […]