With its economic growth slowing, India is urging U.S. companies to invest in its aviation industry. At the recent U.S.-India Aviation Summit in New Delhi, Indian civil aviation minister Nasim Zaidi urged American firms to back plans for some $130 billion in investments over the next 10 to 15 years in areas such as airport infrastructure, maintenance, repair and overhaul facilities, cargo facilities and training centers. The Indian government is willing to see some 30 airports developed under joint ventures or public private partnerships (PPP). The country already permits 100-percent “foreign direct investment” (FDI) in airport projects and some 41 airport projects are already being conducted under PPP terms.
Economy of India
Shares in cash-strapped Indian carrier Kingfisher Airline fell by almost 18 percent on November 18 as company chairman Vijay Mallya worked to secure new short- and long-term funding amid reports of further routes being cut and flights cancelled. On November 17, Mallya confirmed that he is negotiating with an undisclosed high-net-worth individual in India with a view to injecting approximately $250 million into Kingfisher.
In a three-way deal that first came to light as a memorandum of understanding (MOU) last year, Sikorsky announced last month that it had completed an agreement for India’s Tata Advanced Systems Ltd (TASL) to build the cabins of its S-92 Helibus in India.
The cabins will be manufactured at a new TASL facility in Hyderabad in the state of Andhra Pradesh. Deliveries will begin next year.
In a three-way deal that first came to light as a memorandum of understanding (MOU) last year, Sikorsky announced on Friday that it completed an agreement for India’s Tata Advanced Systems Ltd. (TASL) to build the cabins of its S-92 Helibus in India. The cabins will be manufactured at a new TASL facility in Hyderabad in the state of Andhra Pradesh. Deliveries will begin next year.
Tata Ltd., a UK-based subsidiary of India’s Tata Sons, has agreed to take a one-third share of Italy’s Piaggio Aero Industries, manufacturer of the Avanti II turboprop twin. The proposed investment by Tata Ltd., which was expected to receive regulatory and other approvals last month, includes the purchase of existing shares from current shareholders and a new share offering.
Corona, Calif.-based Circor Aerospace (Booth No. 2042) has selected India-based HCL Technologies to provide product research and development, IT and engineering services from HCL’s new delivery center in North Carolina and other worldwide centers.
India’s Tata Sons, has agreed to buy a one-third share of Italy’s Piaggio Aero Industries, manufacturer of the Avanti II turboprop twin.
Announced to the financial press on Thursday and at an NBAA press conference yesterday, the proposed investment by Tata Ltd., which is expected to receive regulatory and other approvals later this week, includes the purchase of existing shares from current shareholders and a new share offering.
India’s Kingfisher Airlines announced it will launch its first international service on September 3 between Bangalore and London Heathrow Airport. Kingfisher will serve the route with a new Airbus A330-200, the first of 10 on which it holds delivery positions. Indian law requires that an airline operate domestically for five years before authorities consider it for an international air transport license.
In one of the highest death tolls from a civil helicopter crash in recent memory, 27 offshore oil workers as well as the crew of a Mil Mi-172 were killed August 11 when the rotorcraft crashed into the sea en route to an oil rig off the western Indian city of Bombay.
Flush with a $200 million cash infusion from Indian billionaire Vijay Mallya and a $170 million order book, turboprop and VLJ maker Epic Aircraft announced that it is in initial talks with Airbus on a technology- and knowledge-sharing agreement. However, Epic CEO Rick Schrameck backed away from a statement he made on Tuesday that the value of the Airbus alliance would equal or exceed Mallya’s investment in the company.