Air India ties up financing for 12 Boeing 787 Dreamliners

Air India has tied up financing for 12 of the 27 Dreamliners it has ordered from Boeing and decided to have a long-term agreement with its American engine manufacturer GE for overhaul and repair of GEnX engines powering these aircraft.



A meeting of the Air India Board on Tuesday informed that bridge financing for the 12 aircraft has been tied up with Deutsche Bank and Investec Bank, airline sources said. The list price of one Boeing 787-8 is about $212 million.

Regarding the 'on point agreement' with GE Aviation that produces the GEnX engines, the sources said the 12-year accord, which was approved by the Board today, would not only be for repairs and overhaul of these sensitive engines, but the contract would also take care of exigencies like foreign object damage (FOD).

While for the first three years, the engines would be flown to the US or Malaysia for repairs, the work would then onwards be done at the new Maintenance, Repair and Overhaul (MRO) centre coming up at Nagpur at a cost of Rs 400 crore.

The GEnX engines would require on an average two shop visits in 12 years, the sources said, adding each shop visit could cost around $5-6 million.

This long term agreement would help Air India save about Rs 200-250 crore over 12 years and "in the worst case scenario Rs 102 crore," the officials said.

The Board also approved the appointment of KPMG as the airline's internal auditor to benchmark its practices to the global ones, particularly in terms of the jet fuel use, inventory management, revenue management and catering.

Source : Business Today

Salute To Indian Air Force on its 81st Anniversary

By serving the country with the best at every step, the Indian Air Force (IAF) has not only touched the skies, but also the heart of every Indian with their righteous deeds. This Indian defence group has come a long way since its establishment on October 8^th in 1932. Right from 1948 to the Kargil conflict, IAF has wonderfully exhibited its winning abilities. Let’s take a look at some interesting facts about the Indian Air Force on its 81^st anniversary, as listed in IndiaTv News and BoyDom.

World’s Fourth Largest Defence Crew

Founded on 8 October 1932, the Indian Air Force was a mere auxiliary arm of the British Empire. It was given the prefix ‘Royal’ in 1945 in appreciation to its services during the Second World War. After India became an independent nation in 1947, the Royal Indian Air Force served the Dominion of India. The add-on ‘Royal’ was dropped when India became a republic in 1950. The IAF has now grown to be the fourth largest air division in the world because of its dedication and flair in reaching targets.

IAF’s training methods

IAF’s Training Command and several training establishments have created a benchmark within itself. The technical and other support staffs are taught different tasks at various Ground Training Schools, while the pilots are given special training. They are trained at the Air Force Academy located at Dundigul, The Pilot Training Establishment at Allahabad, the Air Force Administrative College at Coimbatore, The School of Aviation Medicine at Bangalore, the Air Force Technical College at Jalahalli in Bangalore and the Paratrooper’s Training School at Agra. These are some of the best training establishments that IAf has to offer to its young members.

Param Vir Chakra

Flying Officer Nirmal Jit Singh Sekhon is the only member of the Indian Air Force to receive the Param Vir Chakra award, which is the highest award for honoring military in India. It was during the Indo-Pakistani War in1971, when Sekhon showed his bravery in Srinagar’s air base. The base was attacked by six Pakistani North American F-86 Sabres and Nirmal Jit Sekhon managed to destroy two Sabres by engaging them with his jet Folland Gnat. As a result, the brave heart was shot dead in the battle and the remaining Sabres chose not to press the attack and returned to Pakistan. Till today, nobody in the Indian Air Force has been honored with this prestigious award.

Wars

The Indian Air Force has actively participated in several wars. Apart from Indian Wars, it has also played a significant role in 1960 conflict, when Belgium’s 75-year rule was terminated abruptly from Congo. The overthrowing of power led to  widespread violence and rebellion in the Congo. To tackle the situation, squadron No. 5 was sent to support United Nations Operation in Congo. andthe unit remained there until 1966. The IAF operated from two bases, providing the UN ground forces with its only extended air crew force.

Modernization

Today, most of the age old fighter planes have been modernized and updated with current standards. The 5th generation Sukhoi PAK FA is developing smoothly with Russia and will turn out to be the most deadly fighter jet in the world along with the F-22. The two are expected to soar high around the year 2015. To enhance the glory and power of the IAF further, India plans to acquire heavy-lift aircrafts like C-17 Globemaster, which will take India’s defense cooperation with the US to a new level.

Recent establishments

In 2009, IAF established a special operation unit called the Garud Commando Force which consists of nearly 1500 personnel. The Garud Force protects several critical aviation installations as it undertakes combat search and rescue, suppression of enemy air defence, radar busting, combat control, missile and munitions guidance and other missions in support of air operations. Garud also have the power to commence offensive roles including raids on enemy air bases, etc., during times of war.

Current Operations

IAF currently holds control of 3 Beriev A-50 Phalcon AEW&C (Airborne early warning and control) aircrafts, around 700 fighters, 7 aerial refueling tanker aircrafts, 133 transport aircrafts, 158 trainer aircrafts, 33 attack helicopters, 156 transport helicopters, 155 utility helicopters, about 200 UAVs.

Apart from these, some of the big birds that have been ordered are 3 EMB-145 AEW&C (DRDO Indian-Made), 172 fighters, 15 transport aircrafts, 360 trainer aircrafts, 22 attacks helicopters, 171 transport helicopters and 65 utility helicopters.

Kargil War

During the Kargil War, the IAF speedily adapted to the air campaign’s unique operational challenges, which included their enemies being placed at a height of 14,000 to 18,000 feet. With a bleak backdrop of rocks and snow, it became exceptionally difficult to visually target the enemy group. The IAF code-named its contribution to the campaign Operation Safed Sagar— Hindi for “white sea.”

Other Interesting Facts

IAF’s fighter aircraft, Sukhoi Su-30MKI, stands among the most elite fighter jets in the world alongside the Eurofighter Typhoon, Dassault Rafale and USAF’s top sequence of fighter jets.

The air warriors also use Sukhoi Su-30MKI, Dassault Mirage 2000, and MiG-29 as tools to deliver nuclear weapons. In war arenas, India has exercised upon using SEPECAT Jaguar and MiG-27M which can be used to drop gravity bombs.

Interestingly, after losing precious lives of 171 pilots, 39 civilians and eight persons from other services, the Indian Air Force still uses its second generation Mig-21 fighter planes to send their brave young men to face their untimely death in these ‘flying coffins’ and ‘widow-maker machines’.

Tata Group, Singapore Airlines say JV to create jobs

Making a strong case for approval of their proposed airline JV, Tata Group and Singapore Airlines have said that the joint venture (JV) would create significant job opportunities in India, boost aviation sector and would boost the country's image as an international investment destination.



The two partners have also listed out a number of other economic benefits for the country from their new venture, Tata SIA Airlines Ltd, where Tata Sons would hold 51 per cent stake and Singapore Airlines (SIA) 49 per cent.

"The brand 'SIA' is recognised worldwide and the expansion of the 'SIA' in India will signal the ability of the country to attract leading names from the international circuit to benefit the Indian market and customers.

"High foreign investment inflows would further strengthen the civil aviation sector," the two partners said in an application to the Foreign Investment Promotion Board (FIPB), while seeking approval for USD 49 billion worth FDI by SIA.

The two groups have also emphasised that investment from SIA and operations of the proposed JV would have the potential for significant foreign exchange earnings in India.

Tatas and Singapore Airlines, which are together attempting an aviation venture for the third time, also said that the venture would generate significant job opportunities and that the JV would hire Indian residents to establish its operations here.

The job avenues would be for "qualified pilots, technicians, managers and skilled labour in India".
Amid many players facing challenging times in the domestic aviation space, SIA has also affirmed its commitment to long-term presence in the country.

Besides, the two entities have said that the new venture would also enhance business opportunities for various stakeholders including vendors, suppliers and contractors.

Tatas said that the proposed airline venture would tap the synergies with its various group companies, while SIA would bring on board the technical expertise and best business practices with regard to aviation business.

They also said that the JV would benefit from economies of scale offered by vendors to SIA in relation to procurement of aircraft, engineering services, spares and infrastructure.

The proposed airline also plans to offer "renting and leasing (except financial leasing) of aircraft".

It would also provide air transport carriers for both passengers and freights as well as "supporting services to air transport, like operation or airport flying facilities, radio beacons, flying control centres and radar stations etc".

Among others, SIA's contribution to the joint venture would include providing access to the Singapore entity's global network besides offering necessary technical expertise and know-how in relation to the civil aviation sector.

Tata Sons, the holding company of most of the operating firms of the salt-to-software conglomerate Tata group, has signed an MoU with Singapore Airlines for the venture.

Source : Financial Express