Low-cost airline SpiceJet is learnt to have concluded a deal with aircraft manufacturer Boeing to purchase 90-100 jets worth about Rs 55,000 crore at list prices.
The airline had been negotiating with the planemaker for quite some time now as it is expanding its fleet and network to tap the growing air travel demand.
On the back of double-digit air traffic growth witnessed over the past two years, the domestic airlines have accelerated fleet induction plan. While largest local carrier IndiGo has already placed record order to purchase 250 A320 Neos, Wadia group-owned GoAir this week announced to firm up the deal for another 72 aircraft.
Sydney-based Centre for Asia Pacific Aviation (CAPA) expects Indian carriers to add as many as 60-65 narrow-body aircraft in FY18. As more and more towns come on the country's aviation map and government pushes for regional connectivity, the airlines are set to induct 10-12 smaller planes also in the next fiscal.
The lower jet fuel price has helped most of the carriers post record profits and aggressively expand their operations. SpiceJet has also made most of it ever since the carrier saw its revival two years ago under the leadership of Ajay Singh.
“Chandra is a tall leader of the Indian IT industry with a spectacular record. His leadership qualities are legendary,” Murthy said.
In a surprise move, Tata Sons board on October 24 ousted Mistry and appointed the group patriarch Ratan Tata as interim chairman. The board tasked a five-member committee to select a new chairman within four months. Apart from Ratan Tata, the other members of the search panel included TVS Group head Venu Srinivasan, Amit Chandra of Bain Capital, former diplomat Ronen Sen and Lord Kumar Bhattacharya.
The appointment of Chandrasekaran came amid a bitter boardroom battle between Tatas and Mistry. Tata Sons is engaged in a bitter court battle with Cyrus Mistry whose family-promoted firm holds 18.4 per cent stake in the holding company. Various Tata Trusts hold over 66 per cent in Tata Sons. Mistry has challenged his sacking in the National Company Law Tribunal (NCLT).
On Wednesday, two of the Mistry family-owned two investment firms filed a contempt application at NCLT against move by Tata Sons to remove him as director and sought an order to restrain the company from going ahead with its planned EGM on February 6 called to remove him.
Cyrus Mistry’s office could not be reached for comment on Chandrasekaran’s appointment.
The airline had been negotiating with the planemaker for quite some time now as it is expanding its fleet and network to tap the growing air travel demand.
On the back of double-digit air traffic growth witnessed over the past two years, the domestic airlines have accelerated fleet induction plan. While largest local carrier IndiGo has already placed record order to purchase 250 A320 Neos, Wadia group-owned GoAir this week announced to firm up the deal for another 72 aircraft.
Sydney-based Centre for Asia Pacific Aviation (CAPA) expects Indian carriers to add as many as 60-65 narrow-body aircraft in FY18. As more and more towns come on the country's aviation map and government pushes for regional connectivity, the airlines are set to induct 10-12 smaller planes also in the next fiscal.
The lower jet fuel price has helped most of the carriers post record profits and aggressively expand their operations. SpiceJet has also made most of it ever since the carrier saw its revival two years ago under the leadership of Ajay Singh.
“Chandra is a tall leader of the Indian IT industry with a spectacular record. His leadership qualities are legendary,” Murthy said.
In a surprise move, Tata Sons board on October 24 ousted Mistry and appointed the group patriarch Ratan Tata as interim chairman. The board tasked a five-member committee to select a new chairman within four months. Apart from Ratan Tata, the other members of the search panel included TVS Group head Venu Srinivasan, Amit Chandra of Bain Capital, former diplomat Ronen Sen and Lord Kumar Bhattacharya.
The appointment of Chandrasekaran came amid a bitter boardroom battle between Tatas and Mistry. Tata Sons is engaged in a bitter court battle with Cyrus Mistry whose family-promoted firm holds 18.4 per cent stake in the holding company. Various Tata Trusts hold over 66 per cent in Tata Sons. Mistry has challenged his sacking in the National Company Law Tribunal (NCLT).
On Wednesday, two of the Mistry family-owned two investment firms filed a contempt application at NCLT against move by Tata Sons to remove him as director and sought an order to restrain the company from going ahead with its planned EGM on February 6 called to remove him.
Cyrus Mistry’s office could not be reached for comment on Chandrasekaran’s appointment.
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