 |
|
Boeing
bullish on Indian
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Ranbaxy acquires
RPG Aventis SA Hydel policy
soon, says Vidya Stokes Reserves may
cross $ 100b by Dec-end
Parents can claim rebate on
tuition fee
Panel report not balanced
|
|
Boeing bullish on Indian aviation market New Delhi, December 13 “India is one of the better growth markets and we see this country as a shining star in the overall civil aviation market”, President, Aircraft Trading, Boeing Commercial Planes, Dr Dinesh A. Keskar, told The Tribune in an exclusive interview. The company had projected last year that India would require 290 new jet airliners worth $22 billion over the next 20 years to meet the growing demand. However, given the recent developments, Dr Keskar said the growth figures could be revised upwards. “Clearly, there will be an upward revision of the projections that we have made earlier. Our next forecast will come within four months”, he said. Boeing accounts for 65 per cent of Air-India’s fleet and is trying to sell the airline a long-range version of Boeing 777-200 which competes with the A 340-300 aircraft put on show by the Airbus Industrie. Air-India plans to buy 17 of these medium-capacity aircraft to upgrade its fleet. Aggressively pitching for sales of the Boeing 777-200 ERs to Air-India, Dr Keskar said the net present value (NPV) for a fleet of 777-200 ERs was higher than those of A 340-300s. “Based on objective calculations, the NPV for a 777-200ER is $40.6 million or about Rs 186.8 crore higher than that of A340-300 for a total of 690 million or approximately Rs 3,175 crore for a fleet of 17 airplanes”, he said.He said to remain competitive against the best airlines in the world that have operations in India, Air-India must select an airplane that would level the playing field and allow it to have an edge. Boeing has gone on record stating that it is willing to cut prices for Indian Airlines (IA) if the need arises. Boeing has lost out to Airbus in the IA’a flight acquisition bid with the government domestic carrier opting for Airbus aeroplanes. Dr Keskar said the pricing in IA was based on two-year-old prices. “Things have obviously changed during that period and our buyback offer stands”, he said. The company has offered to buy back old Boeing planes from IA and offer new aircrafts at discounted prices. There are also plans to develop the next generation 7e7 series of planes from the Boeing stable. On the recent developments in the civil aviation sector in the country, Dr Keskar said it was a “win-win” situation. The Union Cabinet has opened several avenues for private domestic airlines and foreign carriers with the government clearing the long-standing demand of the domestic private carriers to be allowed to member countries of the South Asian Association of Regional Cooperation (SAARC). Effectively, this means that Jet Airways, Deccan Air and Air Sahara can now fly to South Asian destinations, including Pakistan, Bangladesh, Bhutan, Sri Lanka and Maldives. The government has also announced an amendment to the air services agreement such that all carriers can operate up to 14 flights a week provided they fly seven flights in a week to any one metro city. Moreover, the Cabinet has also cleared a proposal made by Prime Minister Atal Bihari Vajpayee during the Asean Summit in October. The proposal envisages that designated Asean carriers can fly daily to four metros and to 18 other tourist destinations. Dr Keskar said the Cabinet decision and the Naresh Chandra Committee Report which had suggested major recommendations could mark the beginning of a new paradigm in the country’s civil aviation sector. Terming it “positive trend”, this will result in major growth of traffic and help to boost the economy in terms of employment generation in ancillary sectors such as tourism and hospitality. While Boeing has been aggressively pitching for sales to the government-owned carriers, private airliners in India are also emerging strongly. Dr Keskar has said the private airlines are also emerging growth areas for the company. “They (private carriers) are also poised for growth. The assessment has not yet been done and the demand for more aircrafts will depend upon future needs. This will depend on the number of frequencies they plan to have”, he said.
|
|
Ranbaxy acquires RPG Aventis SA
New Delhi, December 13 Though Ranbaxy is tightlipped on financial terms of the deal, which also includes the purchase of RPG Aventis’ wholly-owned subsidiary OPIHSARL, the city-based pharma firm said the transaction was expected to be completed in the first quarter of 2004, subject to requisite approvals. "France is strategic to our European expansion plans," RLL Chief Executive and Managing Director D.S. Brar said in a statement here today. Noting that RPG Aventis was France’s fifth largest generics maker which had sales of 44 million euros last year, Mr Brar said the acquisition would be a very significant step for the company as it would place Ranbaxy among the top generic companies in the French market. With a wide-ranging pipeline of 52 molecules with 18 out of the 20 best selling molecules representing the company’s strong product portfolio, RPG Aventis’ strengths were mainly in areas like cardiovascular drugs, anti-infectives, gastrointestinal, anti-inflammatory, analgesic and neurology drugs. Besides, RLL was also eyeing for some other overseas acquisitions to expand its global presence, according to RLL sources.
— UNI |
Hydel policy soon, says Vidya Stokes Parwanoo, December 13 She was addressing industrialists of the PHD Chambers of Commerce and Industry at a resort, near here. Asserting that the power sector was the forerunner of industry, she said as against the requirement of 1,600 mega units in the state only 1,300 mega units were being produced and the shortfall was being met by a special arrangement with the Government of India and other states. She said power tariffs in the state were the lowest in the country and the state provided the longest hours of uninterrupted power to consumers. She said Himachal Pradesh was the first state to have attained 100 per cent electrification of its villages. Laying to rest speculations regarding regulation of the Electricity Act, 2003, she said certain amendments had been suggested keeping in view specific hill conditions and these would soon be taken up with the Government of India. To ensure ample power availability to the expanding industry, she said the setting up of new sub-stations was in progress at Baddi, Barotiwala, Poanta Sahib, Kala Amb and other places. Earlier the chairman, HP committee of the PHDCCI, Mr Dhyan Chand, drew attention of the minister towards floating an HP hydro power generation company to enable hydel projects to sell their power. He emphasised upon the need to put in place a more efficient system to check transmission and distribution losses. |
|
Reserves may cross $ 100b
by Dec-end
Mumbai, December 13 During the week ended November 21, forex reserves had recorded inflows of $ 1,710 million. Going by the current level of inflows, forex reserves should touch $ 100 billion mark by this month end, dealers said. The foreign currency assets during the reporting period rose by $ 1,331 million at $ 93,479 million.
— PTI |
Panel report not balanced In the report on “a roadmap for the civil aviation sector” the panel has handled the vex areas of the aviation industry with bureaucratic care. But, in essentiality, it is not a balanced document for the overall growth of the industry which, through international gateways, makes or mars the reputation of the country. It is a report which is largely, subtly of course, tilted in favour of private operators. To offer concessions and promote private airlines is one thing but to undermine the interest of Indian Airlines and Air-India, which have slogged for more than 50 years, is surprising, to say the least. What has been the role of private operators since the skies were thrown open more than a decade ago. Of more than 10 operators that occupied a part of skies initially, only a few have been flying. How regularly have they been discharging their duties and paying the stipulated fees by way of parking charges, landing and taking-off fees and several other mandatory charges? What is the quantum of arrears pending against them? Is it not a fact that a very influential top-notch official was arrested at Mumbai on June 27, 1986, for FERA violations? The case was, then, hushed up because of political interference. By withdrawing levies or reducing taxes, the private operators will indeed gain but at the cost of the government. On the basis of the recommendation of the committee, the government has allowed private operators to fly to the neighouring countries. But where is the need of granting them permission to undertake third-party ground handling? The committee has recommended that there should be no restrictions on the travel of officials of government and public sector undertakings. They should be allowed to travel on any airline. Are the committee members aware that the removal of restrictions will lead to further corruption. The report further says, “Although it may appear that India has a considerable airport capacity, only 62 airports are in use with the rest remaining or inactive. Additionally, over 40 per cent of the passenger traffic is concentrated at airports in Mumbai and Delhi. The limited terminal capacity at these airports has led to an increased congestion, bunching of flights and delays in passenger
clearances. The poor utilisation of the existing capacity has impeded development and growth of the sector, and today only 10 airports are profitable”. |
bb
Gold touches record high
ICICI mini card Bolero models family, such as “Bolero XL and XLS” here. The “Bolero XL” is mounted with the direct-injection DI super engine, while the “Bolero XLS” is fitted with the IDI technology XD3P engine.
— UNI
Trading in wheat Dirt-free tiles SIA flights |
| HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Mailbag | Chandigarh | Ludhiana | National Capital | | Calendar | Weather | Archive | Subscribe | Suggestion | E-mail | |
Parwanoo, December 13
Video
American aircraft producing giant Boeing is bullish on the Indian civil aviation market and has identified the country as a major growth area.