Archive for August 18th, 2006

A-I to give Rs 100-cr salary hike

August 18, 2006

National carrier Air India is planning a 20% salary hike for its 5,500 employees—including 650 pilots, 2,000 cabin crew and aircraft maintenance engineers—with retrospective effect from 1997. These employees will get their last 10 years’ arrears in January, 2007. The bonanza will increase A-I’s annual wage bill by Rs 100 crore to Rs 1,000 crore.

The decision will be in step with the employees’ charter of demands, which had been pending since 1997 because the last wage revision agreement expired on December 31, 1996. Although the carrier’s wage bill reflected a provision for a salary hike, the raise has not been passed on to employees. This will mean that from January 2007, employees will get a 20% hike in salaries plus the arrears since 1997.

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Govt approves setting up of co to develop Nagpur airport

August 18, 2006

The Maharashtra Government has approved the setting up of a company for the development of a multi-modal international airport at Nagpur.

A cargo hub and an international standard terminal would also be developed at the airport, the Chief Minister, Mr Vilasrao Deshmukh, said while addressing the media after the Cabinet meeting on Thursday.

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Blue Dart: Buying cheap

August 18, 2006

Since the announcement that DHL Singapore was planning to take Blue Dart private, the stock had rallied over 25 per cent.  

Obviously, shareholders were expecting a higher price compared with last Friday’s close of Rs 474. With DHL’s price of Rs 550 has disappointed shareholders, the Blue Dart share, which had crossed Rs 600 in early trades slid to Rs 565 on Thursday. 
 
DHL’s offer is at a 10 per cent premium to the floor price, calculated as the 26-week average price, and at 16 per cent premium to last Friday’s close. 
 
However, analysts are not enthused by the premium and say that offers to take a company private have been at higher premium in the past. For example, Citibank’s offer for e-serve was at a 54 per cent to its last traded price before the news of the delisting.

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Air Sahara announces 14 new routes

August 18, 2006

Air Sahara, whose ranking took a hit after a failed takeover deal, on Thursday announced operations to 14 new destinations including two international routes by December as part of plans to have the largest network and a market share of 12-13 per cent by next year.

“The expansion plan begins from tomorrow and will continue till December 16. During this time, we would be introducing flights to Guanghou (China) and Maldives on the international sector and would connect Delhi with Port Blair,” Air Sahara President Alok Sharma told reporters here.

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SpiceJet launches online hotel reservation service

August 18, 2006

No-frills airline SpiceJet on Thursday launched a dedicated online web hotel reservation service in collaboration with travel firm Yatra online. The service will offer rooms to passengers of any airline in about 100 hotels ranging from two to five star in 13 major cities.

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City’s loss may be Navi Mumbai’s gain

August 18, 2006

Slums are the latest snag in the Mumbai airport revamp plans. Talks to come up with an alternative plan are on currently between the new management and the AAI.

“Master planning for the Mumbai airport is currently on. Services such as the parallel runway, among others, will be addressed therein. Since the plan is still evolving we will know the final outcome only in October,” said a spokesperson for the new management of the airport.

The GVK-South African Airports consortium runs the Mumbai airport now through MIAL, a joint venture in which AAI hold 26% stake. Rajiv Gandhi Bhavan sources said the civil aviation ministry was aware of the difficulties faced in setting up a parallel runway which would have helped in a big way to decongest the country’s busiest airport.

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Excerpts from PM’s address on n-deal

August 18, 2006

Following are excerpts from Prime Minister Manmohan Singh’s reply in parliament Wednesday on the India-US civil nuclear deal:

At the outset, I would like to convey my gratitude to all the Hon’ble Members who have participated in this debate. I am grateful for this opportunity to clarify some of the issues arising from the discussion. I will do so in a non-partisan spirit and I have every reason to believe that after I have finished that I will be able to carry the whole House with me. Our Government has never shied away from a full discussion in Parliament on this important issue.

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No compromise on N-deal: PM

August 18, 2006

Prime Minister Manmohan Singh, in a spirited and emotional defence of the Indo-US civil nuclear deal, said India’s sovereignty would never be compromised. 
 
If there was anything in the Bill that was not consistent with the July 2005 agreement and the March 2006 separation plan, India would draw its”necessary conclusions”. 
 
“If the US Congress passes the Bill in its present form, it will be very difficult for India to accept it,” Singh said, adding the ground rules for discussions could only be the July 2005 agreement. 

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Airline ticket sales in India reach an historic low

August 18, 2006

The Centre for Asia Pacific Aviation in India has predicted that airlines will retain fare sales, amongst an industry all time low for ticket sales, by providing excellent customer service. 

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Singapore too rakes security fear over Jet

August 18, 2006

The security scare is now threatening to push Jet Airways’ flight plans into deeper turbulence.

Just days after one of Jet’s British employees was arrested in UK for allegedly aiding the terror plot to blow up transatlantic airplanes, Singapore authorities have written to India seeking a clearer picture on the airline’s security clearance.

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