A technician working for Air India has died after being sucked into a jet engine as the plane pushed back for take-off at Mumbai airport. The freak accident happened on Wednesday evening when the co-pilot of flight AI 619 to Hyderabad mistook a signal from ground staff and started the …Read More »
The founder and promoter of Indian budget carrier Jet Airways has pledged to hand over his entire sharholding in the company – estimated to be 51% of shares – to a state-owned bank. UK-based Naresh Goyal has pledged the shares, valued at more than £260 million to Punjab National Bank. …Read More »
India and France have agreed to overcome differences and finalize the sale of 126 fighter jets to India in a deal worth an estimated $15 billion, the Indian defence ministry said.
France's Dassault Aviation has been trying to clinch a deal to sell India its Rafale jets since New Delhi chose the company over other foreign plane manufacturers in 2012.
But disagreements over cost and work-sharing have slowed talks, while India's weak economy has stretched government finances.
On Monday, French Defence Minister Jean-Yves Le Drian met his Indian counterpart Manohar Parrikar, who was appointed defence minister last month.
"Both sides agreed to take forward the strategic co-operation between the two countries. They discussed all issues including Rafale. It was decided that whatever differences still existed would be resolved in a fast-track manner," said Indian defence ministry spokesman Sitanshu Kar.
Under the deal, which would provide a major boost to French domestic defence manufacturing, the first 18 planes will be made in France and shipped to India, while the remaining 108 will be produced by state-run Hindustan Aeronautics Ltd.
Rival manufacturers including the makers of the Eurofighter aircraft are hoping that the stalled Rafale deal will collapse, possibly opening the door to negotiations with a new vendor.Read More »
The Indian government has approved a plan by Abu Dhabi-based carrier Etihad to buy a 24% stake in Jet Airways for $379m. The deal is the first foreign investment in India’s burgeoning aviation sector since the government raised the foreign ownership threshold to 49% of local airlines. The move has …Read More »
The wife of Jet Airways founder Naresh Goyal has been fined for taking her pet dog on a Jet flight from London. Anita Goyal was handed the £410 fine by customs officials at Mumbai Airport on Saturday, according to reports. Under customs regulations, passengers cannot carry pets inside the passenger …Read More »
Shareholders of Jet Airways has approved the sale of a 24% stake in the carrier to Abu Dhabi-based Etihad. Naresh Goyal, Chairman of Jet Airways, welcomed the move at a shareholder meeting in Mumbai on Friday. “Etihad investment will help us to deleverage and grow in a sustainable manner. This …Read More »
Jet Airways’ board of directors has given its approval for the sale of a 24% stake in the carrier to Abu Dhabi-based Etihad in a $379 million deal that is set to revolutionize the Indian aviation sector. The price agreed by Etihad reportedly represents a premium of more than 30% …Read More »
Etihad Airways has taken over Jet Airways’ slots at London Heathrow airport for $70 million deal as talks continue between the two carriers about a possible take over by the Abu Dhabi-based airlines. The move signals positive developments in the discussions and investors cheered the move after a delayed announcement …Read More »
Abu Dhabi-based Etihad Airways is close to taking a stake in India’s Jet Airways, the Mid-East airline said on Monday after reporting a tripling in profits for last year. Such a deal would support the Indian carrier’s efforts to woo foreign investors to help cope with fierce competition and …Read More »