AVIATION SECTOR
Regional air connectivity scheme made air travel inclusive, says Prime Minister Modi
Prime Minister Narendra Modi highlighted the growth of India's civil aviation sector, noting that air travel has become more inclusive through the UDAN scheme. Speaking at the Second Asia Pacific Ministerial Conference on Civil Aviation, he emphasized the sector's role in job creation and mentioned plans for advanced air mobility and air taxis.
India, China discuss early resumption of passenger flights, Indian minister says
India and China are discussing the early resumption of direct passenger flights after a four-year hiatus. This comes amid strained relations due to a 2020 military clash. Civil Aviation Minister Ram Mohan Naidu Kinjarapu met with China's aviation head to promote civil aviation cooperation and the potential restart of scheduled passenger flights.
Rajnath Singh inaugurates IDAX-24 Expo in Jodhpur, latest defence tech like anti-drone gun, pseudo satellite on display
On September 12, 2024, Defence Minister Rajnath Singh inaugurated the India Defence Aviation Exposition (IDAX-24) in Jodhpur, running alongside the Exercise Tarang Shakti-24. Scheduled from September 12 to 14, IDAX-24 features a broad range of aviation technologies and products, showcasing India's indigenous advancements and fostering international collaboration in the aerospace sector.
SpiceJet seeks urgent SC hearing against Delhi HC’s order grounding 3 aircraft engines for defaulting on payments to lessors
SpiceJet has appealed to the Supreme Court against a Delhi High Court order requiring the airline to ground and return three engines to lessors Team France 01 SAS and Sunbird France 02 SAS within 15 days due to non-payment of lease rentals. The Delhi HC had also instructed SpiceJet to arrange for the inspection of these engines.
Efforts on to make India a global aviation hub, manufacture aircraft: Naidu
Union minister K Rammohan Naidu announced efforts to make India a global aviation hub and start manufacturing aircraft. Speaking at the Asia Pacific Ministerial Conference on Civil Aviation, he highlighted infrastructure, integration, and innovation as key growth elements. The number of operational airports in India has grown significantly since 2014.
DGCA issues circular advising airworthiness certification requirements for vertical take-off, landing
The Directorate General of Civil Aviation (DGCA) has issued an advisory circular detailing the baseline airworthiness criteria for type certification of Vertical Take-Off and Landing capable aircraft (VCA). This move aims to streamline the certification process and ensure safety and reliability of electric vertical take-off and landing (eVTOL) technologies in India, encouraging innovation in the sector.
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India to host 2nd Asia Pacific Ministerial Conference on Civil Aviation this week
The second Asia Pacific Ministerial Conference on Civil Aviation will be held in New Delhi on September 11 and 12, with around 250 representatives from 41 countries. Prime Minister Narendra Modi will attend the valedictory session. The conference aims to develop a road map for advancing the civil aviation sector in the region.
UDAAN scheme to continue for 10 more years: Civil Aviation Minister Ram Mohan Naidu
Civil Aviation Minister Ram Mohan Naidu announced the extension of the UDAN scheme for ten more years, aiming to enhance regional air connectivity. The scheme has already benefitted over 1.4 crore passengers and operated 2.8 lakh flights. The government plans to develop 350-400 airports in the next 20-25 years, making air travel more accessible and affordable.
IIT Guwahati and Airbus join forces to advance aviation and logistics education in Assam
IIT Guwahati has partnered with Airbus India to advance aviation and logistics education in Assam. This collaboration aims to enhance employment opportunities and service quality in the region, aligning with India's UDAAN Scheme. A Global Skilling Centre will be established to address the shortage of skilled professionals in these sectors.
Singapore cos pledge Rs 5 lakh crore investment in India after PM Modi's Roundtable with Business Leaders
Prime Minister Narendra Modi's recent visit to Singapore has resulted in a significant investment commitment of Rs 5 lakh crore from Singaporean companies. Modi encouraged businesses to invest in various sectors, highlighting the aviation sector's need for over 100 new airports and increased competition in domestic air traffic.
PM Modi invites Singaporean businesses to India, says do not let go this opportunity
Prime Minister Narendra Modi has invited Singaporean businesses to invest in India, highlighting opportunities in aviation, electric vehicles, green hydrogen, fintech, space startups, and semiconductors. He emphasised India's political stability and progressive policies while encouraging participation in the nation's development. Modi noted India's rapid technological adaptation and significant market potential across various sectors.
Pankaj Pandey on why weakness in energy stocks may signal buying opportunities
Actually there is not much of a comparison to do because SpiceJet we know is struggling. So, from that perspective, I think InterGlobe becomes the obvious choice. And overall number of players are expected to keep on growing. And with crude being softer, InterGlobe obviously tends to benefit from this.
Civil aviation Minister KR Naidu indicates India's plans to manufacture indigenous planes
The government plans to establish a special purpose vehicle to advance aircraft manufacturing in India, according to Union Civil Aviation Minister K Rammohan Naidu. Speaking at a conference, Naidu highlighted efforts to initiate aircraft manufacturing within the next five years. India is among the fastest growing civil aviation markets globally.
DGCA issues show-cause notice to Akasa Airlines over regulatory breaches
The DGCA has issued a show-cause notice to Akasa Airlines for violating several regulatory requirements during a recent audit. The airline must respond within seven days, addressing concerns about inadequate training and lack of approvals. The DGCA continues to stress the importance of adhering to aviation safety standards.
Cathay Cargo seeks more liberal aviation policy, eyes wider India footprint
Cathay Cargo aimed to expand its presence in India by urging for policy updates to permit co-terminalisation rights, which would enable serving multiple cities with the same aircraft. Operating in India since 1953, Cathay Pacific sought to enhance cargo transport efficiency in collaboration with IndiGo and other Indian carriers.
India-Singapore Ministerial: Focus on semiconductors & aviation sectors
India and Singapore held their second round of the India-Singapore Ministerial Roundtable in Singapore, with 10 ministers participating. The two countries discussed strategic partnerships, including investments and trade, ahead of PM Narendra Modi's visit on September 5. The meeting focused on digital, skill development, sustainability, healthcare, connectivity, and advanced manufacturing.
Three stock recommendations from Rajesh Palviya for next week
In the IT sector, TCS is a noteworthy focus. We anticipate a continuation of its rally and expect it to reach higher levels, making TCS an appealing option. Our target price for TCS is around 4650 on the upside. For those considering a long position, a stop loss of approximately 4390 is recommended, says Rajesh Palviya, Axis Securities
Rakesh Jhunjhunwala's lofty bet has grown fourfold: What lies ahead
In 2021, Vinay Dube launched Akasa Air, backed by investor Rakesh Jhunjhunwala. Despite initial losses, the airline's valuation has grown to $350 million. Akasa has expanded its fleet rapidly, overtaking SpiceJet in market share, and is now seeking $125 million in new investments from Premji Invest and Claypond Capital for further growth.
India to boost helicopter manufacturing, says aviation minister
Union Aviation Minister Kinjarapu Rammohan Naidu introduced the Bhartiya Vayuyan Vidheyak Bill, 2024, to enhance India's aviation sector. The Bill seeks to boost helicopter manufacturing and add seaplanes to air travel options. The minister highlighted India's untapped potential in the helicopter industry and addressed concerns about language imposition in the Bill's text.
Aviation minister vows to tackle rising airfare, assures balanced approach
The government sought to make air travel affordable and accessible, noted Aviation Minister Kinjarapu Rammohan Naidu. He highlighted the need for balance between passengers and airlines while presenting the Bhartiya Vayuyan Vidheyak Bill, 2024. Plans for an online grievance mechanism were introduced, alongside reaffirmation of commitment to the Regional Connectivity Scheme.
Govt introduces new reforms to strengthen MRO sector, says civil aviation minister Rammohan Naidu
A key reform is the new GST rate of 5% on all aircraft components and engines, effective July 15, 2024. This replaces the previous range of GST rates—5%, 12%, 18%, and 28%—which had led to operational challenges and GST accumulation issues. “This historic decision simplifies the taxation process and is projected to propel the MRO industry towards a $4 billion valuation by 2031,” said Naidu.
Bhartiya Vayuyan Vidheyak will address discrepancies in aviation law: Government
The Bhartiya Vayuyan Vidheyak Bill 2024 aims to modernise aviation laws, replacing the outdated Aircraft Act of 1934, to better regulate the industry and promote growth. Aviation Minister Kinjarapu Rammohan Naidu highlighted the need for the new legislation in the Lok Sabha. He addressed concerns about ambiguities and contradictions in the current law. The bill also focuses on aligning India's aviation standards with global practices and supporting self-reliance in aircraft design and manufacturing.
Govt to allow up to 35% bio-bitumen mixing, to save Rs 10,000 cr of foreign exchange outflows
Union Road Transport Minister Nitin Gadkari declared that the government would allow a 35% blend of lignin with petroleum-based bitumen to lessen dependence on imports and reduce costs. The move is also intended to address air pollution from stubble burning. Bio-bitumen sourced from paddy straw has been successfully developed and patented. Numerous projects are underway to convert rice straw into different biofuels. These changes promise significant benefits for farmers and the environment, with trials to assess bio-bitumen's long-term performance in road construction currently being conducted.
Bhartiya Vayuyan Vidheyak Bill 2024: Building the runway to aviation growth
The Bill significantly amplifies the powers of the Directorate General of Civil Aviation (DGCA), making it the primary regulatory authority in the Indian aviation sector. The DGCA will have increased jurisdiction over various aspects of civil aviation, including aircraft design, manufacturing, maintenance, operations & airworthiness.
India Budget 2024: Incentives announced to boost MRO activities in aviation, shipping sectors
Finance Minister Nirmala Sitharaman announced incentives to enhance maintenance, repair and overhaul activities in the aviation and shipping sectors during the budget speech, aiming to support the growth of India's domestic aviation market. The government plans to extend the period for export of goods imported for repairs to one year and increase the time-limit for re-import of goods for repairs under warranty to five years.. Additionally, a 5 per cent uniform Integrated Goods and Services Tax (IGST) rate on all aircraft and aircraft engine parts has been implemented to streamline taxation in the industry.
Aviation sector largely untapped despite growth, needs investment: Economic Survey
The Economic Survey 2023-24 emphasizes airline efficiency, sustainability, and airport expansion as passenger numbers rose by 15% to 376 million in FY24. Bankruptcy cases persist. Plans include doubling the number of airports to 300 and improving long-haul connectivity. A national policy will address security, immigration, and international flying rights to establish airports like Delhi as global transit hubs.
Microsoft outage forces IndiGo to cancel almost 200 flights; Rebooking and refund options temporarily suspended
An extensive IT outage impacting Microsoft's Azure cloud platform has led to the cancellation of over 200 IndiGo flights and caused widespread travel disruptions. The issue, which began on July 19, 2024, is affecting airlines globally, including IndiGo, SpiceJet, and Air India. Passengers are advised to check flight statuses and arrive early at airports due to ongoing technical problems.
India to host 2nd Asia Pacific ministerial conference on civil aviation in Sept
India is set to host the second Asia Pacific ministerial conference on civil aviation on September 11 and 12, with representatives from around 40 countries, including China and Pakistan. The Asia Pacific region is a significant contributor to global air traffic, and India is the world's fastest-growing aviation market.
Aviation regulator DGCA allows IndiGo to carry pre-flight briefing data in digital form
The Directorate General of Civil Aviation (DGCA) has permitted IndiGo to use Electronic Flight Folders (EFF), allowing the airline to carry pre-flight briefing data like flight plans and weather charts digitally rather than in hard copy. This move is expected to reduce aircraft weight, fuel consumption, and operational costs while enhancing safety and efficiency in flight preparations.
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