The News Review:
- Guggenheim Aviation Partners Opens Singapore Office and Appoints …
- Aviation slump hits domestic flyers hard
- Jet Airways facing rough weather
- Airplane, maintenance truck collide on O’Hare runway
- Aviation school boosts Hamilton International Airport
- Sweet sounds of success for Chimes Aviation industry
Guggenheim Aviation Partners Opens Singapore Office and Appoints …
MarketWatch
(GAP), a
leading participant in the commercial aircraft leasing market, today announced
the opening of a representative office in Singapore and the appointment of
Stephen Barnes as Director, Marketing (Asia). “The Singapore office will work to further extend our global reach,” said
Paul Newrick, GAP’s Managing Director. “We are extremely delighted to have
Stephen join our efforts in expanding GAP’s capacity to more directly serve
the Asia-Pacific region which we expect to experience tremendous growth in the
aviation sector during the next decade.
Aviation slump hits domestic flyers hard
Times of India, India
Clearly, low cost carriers have lost their sheen
due to constant fare hikes now as many of their patrons have gone back to trains
and buses. Analysing the sharp fall in number of flyers, aviation
minister Praful Patel said, “Jet fuel in India is about 60% to 70% more
expensive than other parts of the world. This difference translates into higher
fares for passengers and an extra cost of Rs 8,000-9,000 crore for airlines,
roughly the loss the latter expect to incur this year. Income levels have not
gone up 70% and so people who had started flying after the advent of low cost
carriers now don’t have the ability to pay these higher fares. ”
Patel
warned that unless the base price of jet fuel and taxes on it were not
rationalised, some airlines may have no option but to close down. “As a result
of more people flying, the growth in past four years led to creation of lakhs of
jobs.
Related: Programmers Looking Abroad For Growth
Jet Airways facing rough weather
MarketWatch
And after the airline unceremoniously postponed its results announcement to this Saturday from Monday without assigning a reason, they might be even more uneasy than before. In a bizarre turn of events, Jet announced early last week that it’ll let go of around 1,900 employees — mostly temporary workers and trainees — as a global economic downturn and a steady increase in fares due to high oil prices takes a toll on passenger load factors. But before the end of the week, Chairman Naresh Goyal was forced to reinstate the staff amid political pressure, with the Indian civil aviation minister reportedly taking credit for persuading the company to scrap the layoffs, while Goyal himself attributed the change of heart to a sleepless night because of the discharged workers’ tears. The episode understandably drew cheers from the employees who were almost laid off. At a broader level, it raises serious questions about the global competitiveness of Indian labor laws and the political environment, which overtly or covertly prohibit the management of a company from taking tough economic decisions. But more immediately, it throws the spotlight on the options before Jet. According to reports, the reinstated workers, as well as the airline’s senior management, have agreed to take pay cuts or salary deferrals to help tide their company over the exceptional circumstances.
Airplane, maintenance truck collide on O’Hare runway
Chicago Tribune, United States
–> Text size:. The United Express jet, operated by.
Related: State to put official airplane on auction block
Aviation school boosts Hamilton International Airport
National Business Review, New Zealand
Today’s annual meeting has been told revenue from landing charges was up 33% to $1. 7 million, due to a 24% increase in aircraft movements to 148,000, much of these from the CTC Aviation Training Facility. Total revenue was $7. 13 million, up from $5.
Sweet sounds of success for Chimes Aviation industry
Economic Times, India
?Our
first exposure to aviation was way back in 1993 when Punj Lloyd bagged the
Hazipur pipeline project. That?s when we bought a helicopter for our
managers and engineers for efficient and speedy work,? says Punj. After a decade-and-a-half, Punj decided to study the Indian aviation
sector extensively and after dropping the idea to start an airline business, he
zeroed in on running a pilot training academy. ?We found that all the
academies in India are mom-and-pop operations.