NIIF to invest up to Rs 6,750 cr in GVIAL to develop Andhra’s Bhogapuram international airport

Hyderabad: In a fillip to ongoing works of Bhogapuram international airport in Andhra Pradesh, National Investment and Infrastructure Fund (NII would be investing upto Rs 675 crore in GMR Visakhapatnam International Airport Limited (GVIAL). GMR Airports Limited (GAL), a subsidiary of GMR Airports Infrastructure Limited, and NIIF entered into binding agreements for NIIF to invest […]

TN to go ahead with greenfield airport in Parandur; to begin land acquisition

Chennai: Notwithstanding protests from several quarters, the Tamil Nadu government has fast-tracked the process of building a swanky greenfield airport for Chennai in Parandur in neighbouring Kanchipuram district by appointing a special officer to oversee the land acquisition process for the ambitious project. Narayanan, the District Revenue Officer (DRO), has been tasked to acquire over […]

All you need to know about Harihara and Preeti Mahapatra, the couple infusing Rs 1,100 Cr into SpiceJet

In a recent development reported by The Economic Times, Mumbai-based businessman Harihara Mahapatra and his wife, Preeti Mahapatra, are set to invest Rs 1,100 crore in SpiceJet, marking a significant move to alleviate the financial challenges faced by the flailing airline. The funding initiative is part of a broader plan wherein a consortium of funds […]

Air India Express to operate its inaugural flight to Ayodhya on Dec 30

New Delhi: Air India Express will operate its inaugural flight to Ayodhya from the national capital on December 30 and will commence scheduled daily service on the route from January 16. The Maryada Purushottam Shri Ram International Airport at Ayodhya has an extended runway suitable for A-321/B-737 type aircraft operations. In a release on Wednesday, […]

Air India borrows Rs 997 crore from Japan’s SMBC to buy Airbus plane

Mumbai: Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) on Wednesday said that the Tata Group-owned Air India has borrowed Rs 997 crore ($120 million) from it for purchasing a wide-body aircraft from Airbus. The transaction has partly financed Air India’s purchase of an A350-900 aircraft from Airbus, which was delivered in October 2023, according to […]

Indian aviation industry may cut losses by over 70-80% in FY24: ICRA

Bengaluru: Some muting of the elevated aviation turbine fuel (ATF) costs, the pricing discipline maintained as the industry consolidated operations with aircraft groundings, is expected to help the Indian aviation industry bring down its net losses to Rs 3,000-5,000 crore in the current financial year from estimated Rs 17,000-17,500 crore losses it clocked in FY23, […]

CISF orders ‘enquiry’ after Tamil Nadu CM Stalin claims jawan harassed woman at Goa airport for not knowing Hindi

New Delhi: The CISF has ordered an ‘enquiry’ following Tamil Nadu Chief Minister M K Stalin’s claim that a woman from his state was harassed by a constable of the force at the Goa airport after she said she does not know Hindi. The Central Industrial Security Force (CISF) guards 67 civil airports of the […]

Digi Yatra to be available at 25 more airports in 2024: Scindia

New Delhi: Civil aviation minister Jyotiraditya Scindia on Friday said Digi Yatra facility will be available at 25 more airports in 2024. Currently, the facility is available at 13 airports for domestic passengers. Digi Yatra provides for contactless, seamless movement of passengers at various check points at airports based on Facial Recognition Technology (FRT). At […]