Beleaguered carrier Jet AirwaysNSE -1.09 % has grounded two more of its aircraft due to non-payment of lease rentals, taking the total number of planes on ground to 23. Almost 20% of aircraft in the airlines fleet are now out of operations. “An additional two aircraft have been grounded due to non-payment of amounts outstanding […]
Category: The Economic Times
Economictimes
Jet Airways grounds 2 more planes, total 23 out of operations
Beleaguered carrierJet Airways has grounded two more of its aircraft due to non-payment of lease rentals, taking the total number of planes on ground to 23. With the grounding of two more planes, almost 20 per cent of aircraft in the airlines fleet are now out of operations. “An additional two aircraft have been grounded […]
Financial bids for Pawan Hans to be submitted by March 6
Shortlisted bidders of Pawan Hans have time till March 6 to submit their financial bids for selling the government and ONGC’s stake in the helicopter service provider, an official said. Separately, the transaction advisor has worked out a reserve price for Pawan Hans which will be submitted to the Ministry of Civil Aviation (MoCA). The […]
Government issues alert to enhance security at all airports
NEW DELHI: The government on Saturday issued an “alert” for all airports and airlines in the country, asking them to “enhance the existing security measures”, as it has received intelligence inputs in the aftermath of the Pulwama attack and subsequent developments. The Bureau of Civil Aviation Security (BCAS) issued the alert and marked it to […]
Bureaucratic rejig: Sanjeev Ranjan named Road Transport Secretary, N N Sinha to be NHAI chief
New Delhi: Senior IAS officer Sanjeev Ranjan has been named secretary, Ministry of Road Transport and Highways (MoRTH), as part of a top-level bureaucratic reshuffle effected by the central government, according to a Personnel Ministry order. Ranjan, a 1985-batch IAS officer of Tripura cadre, is at present the chairman of National Highways Authority of India. […]
369 infrastructure projects under implementation facing cost overruns: Report
NEW DELHI: As many as 369 infrastructure projects of the total 1,420 under implementation are facing cost overruns, while another 366 are significantly delayed, according to a report. The report “Infrastructure & Real Estate: A fulcrum for Change & Economic Growth” by Property consultant ANAROCK and Association of InfrastructureNSE 0.90 % Industry (India) said the […]
Zojila tunnel project up for bid again as IL&FS exits
Mumbai: The government has invited fresh bids for the Zojila tunnel project in Jammu & Kashmir, after the construction contract was cancelled for the second time in three years. The tunnel, to be built at an altitude of 4,000 metres, will provide year-long connectivity between Srinagar and Leh as the current national highway that connects […]
ICICI bank-Videocon case: ED raids Videocon office, Kochhar’s residence
MUMBAI: The Enforcement Directorate (ED) carried out raids at five places in Mumbai and Aurangabad on Friday in connection with a money laundering case against former ICICI BankNSE 1.17 % CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group chairman Venugopal Dhoot. The financial investigation agency searched premises including the office of Deepak Kochhar’s […]
Opec output falls again amid planned cuts and US sanctions
OPEC’s crude production slumped again last month as the cartel implemented planned cutbacks in full and some members were hit by U.S. sanctions. Saudi Arabia, Kuwait and the United Arab Emirates delivered all — and in some cases more — of the supply curbs they pledged to try to prevent a global glut. OPEC and […]
When Concorde first took to the sky 50 years ago
When the misty skies cleared over southern France on the afternoon of Sunday March 2, 1969, the green light was signalled for the highly anticipated first ever flight of the Concorde. Journalists had been alerted two days earlier that the test flight was imminent; the world had been waiting since the futuristic aircraft, with its […]
11 flights to and from Delhi cancelled due to Pakistan airspace closure
Eleven flights, either arriving at or departing from Delhi, were cancelled due to closure of Pakistan airspace on Friday, airport officials said here. Due to the Pakistan airspace being closed, there were “22 departures and 17 arrivals that were late” at the Delhi airport on Friday, they said. “Five flights, which planned to depart from […]
Debt recast plan includes board composition: Jet Airways
Beleaguered carrier Jet AirwaysNSE 4.72 % Friday said its debt recast plan also contemplates appropriate governance structure including board composition, among other measures. “…Along with the restructuring of the company, the Bank Led Provisional Resolution Plan (BLPRP), inter alia, also contemplates appropriate governance structure including Board composition,” Jet Airways said in regulatory filing. The filing […]