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TATA Group is Looking To Acquire Air India

22Jun By PriyankaNo Comments

BUSINESS

TATA Group is Looking To Acquire Air India

Tata group is believed to be discussing buying a stake in debt-laden Air India amid the government looking at various options, including full or partial privatisation, to revive the national carrier, sources said. When contacted, a Tata group spokesperson said, "We dont comment on speculations." Tata's already have two airline joint ventures Vistara and AirAsia India. Staying afloat on taxpayers money, Air India has been in the red for long and various proposals, including government think-tank Niti Aayog suggestion for complete privatisation, have been made. Sources said Tata group is evaluating options on buying stake in Air India. In this regard, there have been internal meetings as well as meetings with government representatives, sources added. There was no official word f...

Mahindra Aviation Unit Bags Contract From Airbus

21Jun By Ankita SinghNo Comments

BUSINESS

Mahindra Aviation Unit Bags Contract From Airbus

European aviation major Airbus has awarded a long-term contract to Mahindra Aerostructures to manufacture and supply a set of components made of hard metals. These components aerospace steel, titanium and Inconel - will be used in manufacturing single aisle A320neo and wide-body A350XWB aircraft, a release said here today. This will be the first direct work package from Airbus to Mahindra Aerostructures, which will execute the work together with its sub-tier French firm Segnere SAS, it said. According to the release, the products will be delivered directly to Airbus facilities in Europe from India and France, thereby providing the leading aircraft maker an optimum mix of cost structures and logistics flexibility. Segnere has several years of experience working with hard metals ...

Poeir Jets- India’s First Ever Jet Engine Developed By a Private Firm

13Feb By PriyankaNo Comments

News

Poeir Jets- India’s First Ever Jet Engine Developed By a Private Firm

INTECH DMLS Pvt. Ltd. India’s largest Metal 3D printing provider and Metal Additive Manufacturing Establishment in aviation announced the launch of India’s first indigenously developed Jet Engine series. This is symbolic as it is India’s first ever Jet Engine that has been developed by a private establishment and augurs well for the industry in looking inwards for innovation in the high technology aviation sector. India is the first country in Asia and only the fourth country after the US, Europe and Israel to indigenously develop such an engine in the private space. Under the brand name Poeir Jets, promoted by M/s.Poeir Jets Private Limited an R&D subsidiary of INTECH DMLS has unveiled its first series of Jet Engines for Unmanned Aerial Vehicles (UAVs) & Remote Controlled (R...

4Jan By NitishNo Comments

ACQUISITION

HCL Completes Acquisition of Butler America Aerospace

IT services major HCL Technologies today said it has completed its USD 85 million acquisition of Butler America Aerospace. The all-cash deal, announced in October last year, will strengthen HCL Technologies' position in the aerospace and defence engineering services space. "The acquisition has been completed with effect from January 3, 2017," HCL said in a filing to the BSE. Butler Aerospace provides engineering, design services and aftermarket engineering services to US aerospace and defence customers, serving them in areas of mechanical and structural design, electrical design, tool design and aftermarket engineering services. The acquisition excludes staffing business of Butler America Inc. Butler America Aerospace had revenues of USD 85.4 million for the year ended December 31...

Not Fully Giving Lower Fuel Cost Benefits To Customers: IndiGo

10May By Press Trust of IndiaNo Comments

News

Not Fully Giving Lower Fuel Cost Benefits To Customers: IndiGo

Amid rising concerns over higher airfares despite fall in oil prices, no-frills airline IndiGo has acknowledged that it is not "passing on all" the benefits accruing from lower fuel costs to the customers. The steep fall in international crude oil prices in recent times has provided a boost for airlines as ATF (Aviation Turbine Fuel) costs account for over 40 percent of a carrier's total operating costs. IndiGo President and Whole Time Director Aditya Ghosh said the airline continues to use the low-cost fuel opportunity to lower fares and register strong increases in passenger numbers. However, the full benefits of fall in fuel prices are not passed on to the customers, he said. "If you look at fourth quarter (January-March 2015-16), then fuel prices came down 29.5 percent whereas the a...

Mumbai based Baron Aviation launches air charter marketplace BookMyCharters

18Dec By NitishNo Comments

Story

Mumbai based Baron Aviation launches air charter marketplace BookMyCharters

A Mumbai-based air charter service, Baron Aviation, launched BookMyCharters, an online platform for booking private jets. The platform’s launch comes after a year of a startup JetSetGo that aggregates jet flights, Helicopters, and Air Ambulance, launched operations in March 2014. The platform has 12 private jet operators with a combined fleet of 40 aircraft, which can be booked online. The service acts as an air charter marketplace, where the consumer can receive quotes in real time, much like Ola does with taxis. “We are not just a lead generation platform but an end-to-end service fulfillment platform, which is backend integrated with charter operators,” said Rajeev Wadhwa, chairman and CEO, Baron Aviation. The air charter space is dominated by offline operators and agents and the mo...

JetSetGo raises funds from Puneet Dalmia

14Dec By AnkitaNo Comments

News

JetSetGo raises funds from Puneet Dalmia

Private jet and helicopter operator Jetsetgo Aviation Services Pvt. Ltd on Monday said it has raised an undisclosed amount from Puneet Dalmia, managing director of Dalmia Bharat Ltd, who invested in his personal capacity. A company executive, who did not want to be identified, said the amount is close to $2 million. The funding will be used to expand the company’s ground presence in key airports, launch inter-city private jet shuttles, air ambulance services and an online platform for helicopter bookings. In July, Indian cricketer Yuvraj Singh-promoted YouWeCan Ventures acquired an undisclosed stake in JetSetGo. The executive mentioned earlier said the company is looking to raise an additional $4 million in the next couple of months. “We are trying to simply bring aviation back to...