Experts expect traffic to triple to 262 million passengers and estimate maintenance revenues are growing at 15% CAGR.
Restoring Air India to its original glory and increasing connectivity to the North-East are the top priorities for the new minister for civil aviation, Vayalar Ravi. In an exclusive interview to ET, the minister says cartelisation will be dealt with firmly though pushing airfares down won't be an easy task in view of the increasing fuel prices.
The country's largest airport operator, Airports Authority of India, plans to raise Rs 1,700 crore through a mix of bonds and bank loans over the next two years in order to fund upgradation of 35 nonmetro airports.
Reliance Communications has raised about 1,155 crore of external commercial borrowing to partly refinance payments made for acquiring 3G, or third generation, air waves.
Air India has advertised for the post of a chief strategy officer (CSO), responsible for monitoring the progress of the turnaround strategy.
The country’s first airport city, Durgapur Aertropolis, a Rs 10,000-crore project, will create 90,000 jobs over the next 8-9 years.
Civil aviation secretary Dr SNA Zaidi on Friday announced plans to set up a satellite accounting system to quantify the sector's contribution to the country's GDP.
National carrier Air India has set up a human resources' committee to prepare a document covering compensation, ranks and work profile by March-end.
Apart from an increase in passengers, the airline also registered an uptick in its overall passenger load factor at 66.3% during Apr-Nov 10, up from 63.1%.
The aviation industry is set to double its contribution to the country’s gross domestic product (GDP) over the next five years.
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