Aviat Financial News

CBI filed closure report in Air India scam case, Congress General Secretary in-charge Communications Jairam Ramesh demanded that Prime Minister Narendra Modi should apologise to former PM Manmohan Singh and to the country. The Congress leader alleged that the CBI closed the case because Nationalist Congress Party (NCP — Ajit Pawar faction) leader Praful Patel joined hands with the ruling Bharatiya Janata Party. «In 2014, during the Air India scam, PM Modi was going everywhere with the CAG report. Yesterday, the CBI closed that case because the then minister (Praful Patel) joined the BJP and went into BJP's washing machine. PM Modi should apologise to Manmohan Singh, he should apologise to the country,» Jairam Ramesh said.

Congress has questioned the Central Bureau of Investigation (CBI) closing a case against Praful Patel in the BJP-alleged irregularities in leasing aircraft for Air India, alleging that the former civil aviation minister is being let off for joining the ruling alliance after splitting NCP. The main opposition party has recycled BJP's 2014 election material, alleging a «Rs 30,000-crore Air India scam» and blaming Patel for it, and asked Prime Minister Narendra Modi to come clean on his past statements against the UPA regime over the alleged «Air India scam» as well as BJP's allegations against Patel over purchasing a Mumbai property allegedly from terror accused Iqbal Mirchi's family. «Months after Praful Patel joined the BJP alliance in Maharashtra by splitting NCP, the CBI filed a closure report in a 2017 case of corruption, alleged by the BJP in its 2014 'Chargesheet',» Congress leader Pawan Khera said at an official briefing here on Saturday.

Sukhoi Su-27 fighter jet was mistakenly downed by Russian forces over Crimea, as reported by Ukraine. The mishap occurred over the annexed peninsula, with Ukraine's Navy spokesman, Dmytro Pletenchuk, emphasizing the role of «the human factor» where an operator, driven by the prospect of receiving a medal, failed to verify the aircraft's allegiance. The incident was initially reported by Mikhail Razvozhayev, the Moscow-appointed leader in Sevastopol, who mentioned that a Russian warplane «crashed» off the Crimean coast. He confirmed that the pilot had safely ejected and was subsequently rescued. Footage shared on Russian Telegram channels depicted the aircraft ablaze during its descent, along with the pilot's parachute, according to a Newsweek report. The Crimean Wind Telegram channel suggested that the aircraft was accidentally shot down after departing from the Belbek military airfield. Pletenchuk's confirmation on television reinforced the narrative that the aircraft was indeed Russian and was destroyed by friendly fire due to an overzealous operator's mistake.

The Texas attorney general says he's investigating a key Boeing supplier that is already under scrutiny by federal regulators over the quality of its work on Boeing planes

President Joe Biden joked about being away from the plane doors manufactured by Boeing, a company recently plagued by mid-flight mishaps, the New York Post reported. «I don't sit by the door,» quipped the 81-year-old president, followed by a quick disclaimer, «I'm only kidding. I shouldn't joke about that.» His remarks came during a high-dollar campaign fundraiser at Radio City Music Hall.

pilots are resenting the Directorate General of Civil Aviation's (DHCA) decision to defer the implementation of the new rules on pilot duty and rest period, pointing to fatigue-induced safety concerns. The Federation of Indian Pilots (FIP), which has more than 5,000 members, has told the aviation regulator this decision endangers and undermines the safety of pilots and passengers. «The latest revision by the DGCA has made the revised regulations a dead letter of the law as it has effectively granted operators discretionary powers in implementing the revised rules,» the FIP wrote in a letter to civil aviation minister Jyotiraditya Scindia. «Health and safety of the pilots cannot be prejudiced for the commercial benefit of the operators,» said the letter dated March 28 and reviewed by ET.

Election Commission has directed the authorities in Manipur to make arrangements to ensure and facilitate all Internally Displaced People (IDPs) to cast their votes for the Lok Sabha elections at the special polling stations without any difficulty. The special polling stations would be set up in all the relief camps in different districts so that the voters among the IDPs could cast their votes in the two phases of Lok Sabha elections on April 19 and 26. A 6-member Election Commission team led by Dharmendra Sharma, Senior Deputy Election Commissioner arrived in Imphal on Thursday and conducted a thorough review of the election preparedness. The ECI team also reviewed the preparedness of elections with the District Election Officers and Superintendents of Police of all 16 districts.

Russia is outgunning Ukrainian forces sixfold on the front lines, causing losses of troops and positions, Ukraine's recently appointed commander-in-chief Oleksandr Syrsky said in a rare interview published on Friday. «A few days ago, the enemy's advantage in terms of ammunition fired was about six to one,» Syrsky told the Ukrinform news agency. «The defence forces are now performing tasks along the entire vast front line, with little or no weapons and ammunition,» he warned, saying the situation was «tense» in some areas.

Royal Fleet Auxiliary, have arrived at Larsen and Toubro's Shipbuilding facility at Kattupalli near here for scheduled maintenance activities. RFA 'Argus' and RFA 'Lyme Bay' arrived at the shipyard located in Ennore, North of Chennai for 'Assisted Maintenance Period' and Self Maintenance Period", respectively, a press release from L&T Shipbuilding said on Friday.

Surya Grahan, is set to occur on April 8, the Federal Aviation Administration (FAA) has issued a cautionary notice regarding air travel during this celestial event. The FAA, a US government civil aviation agency, has advised that aircraft should be prepared for possible delays, reroutes, and changes in departure schedules for all domestic IFR flights. According to the FAA's website, Traffic Management Initiatives may be implemented, and airports in the path of the upcoming Solar Eclipse are expected to be affected. The FAA emphasized the need for pilots and airports to make necessary arrangements and stay updated on any temporary flight restrictions that may be imposed. The Solar Eclipse on April 8, 2024, will be visible in several countries, including the United States, Mexico, and Canada. NASA confirmed that the eclipse will traverse North America, creating a spectacle for observers. As a result, air traffic is anticipated to intensify, particularly between Texas and New England, as enthusiasts prepare to witness this rare event.

Latvia’s top diplomat said on Thursday he will step down in the wake of a criminal probe over the use of expensive private flights by his office when he acted as the Baltic country’s prime minister between 2019-2023

Times of India has stated. As per the report, last week on arrival in India, the pilot had tested positive for consumption of alchol on the breathe analyser.

A Delta flight over the weekend was cut short after a panel behind one of the engines fell off the plane

Baltimore bridge collapse: US says ‘path to normalcy will not be easy’ There was no indication of terrorism, police said. The metal truss-style bridge has a suspended deck, a design that contributed to its collapse, engineers say. The ship appeared to hit a main concrete pier, which rests on soil underwater and is part of the foundation.

(This story originally appeared in on Mar 27, 2024) With the fresh supplementary chargesheet, the total number of accused in the case has touched 156.

SpiceJet on Tuesday said it has agreed to a pact with Export Development Canada (EDC) to settle liabilities worth Rs 755 crore. The settlement will generate savings to the tune of Rs 567 crore, the airline said in a statement. As part of the agreement, SpiceJet will also acquire ownership of 13 EDC-financed Q400 aircraft. Twelve out of these 13 aircraft were grounded as the airline had failed to pay lease rentals to the lessor. SpiceJet chairman Ajay Singh said the settlement will allow the airline to strengthen its balance sheet. «This settlement not only alleviates SpiceJet of a substantial financial burden but also lays the groundwork for a fortified balance sheet and substantial savings for the airline,» said the airline.

₹3,355.50 apiece on the BSE. UBS maintained its positive stance on IndiGo considering the strong growth prospects of the Indian aviation industry, share gains in international travel, efficient cost structure and operational excellence. It maintained a Buy rating on IndiGo shares and raised the 12-month target price to ₹4,000 per share from ₹3,900 earlier, implying an upside of more than 21% from Friday’s closing price.

Crude oil forecast: Geopolitical tensions drive brent towards $95 per barrel in near term Intel shares led the market downward, dropping 3% following reports from The Financial Times indicating that new Chinese regulations would prohibit the use of Intel chips in government servers and computers. United Airlines stock also declined by 6% after the Federal Aviation Administration announced heightened scrutiny of the airline due to a series of safety incidents. Despite these setbacks, the market is poised for its fifth consecutive month of gains, with major U.S.

Stocks wavered after last week’s strong rally as traders assessed the outlook for corporate earnings ahead of key data from the US that may give further clues on the Federal Reserve’s policy path.

United Airlines says federal regulators are increasing their oversight of the carrier following a series of recent issues

Former Maldivian President Ibrahim Mohamed Solih has urged President Dr. Mohamed Muizzu to abandon his obstinacy and engage in dialogue with neighboring countries to address the nation's financial woes, according to news portal adhadhu.com. Solih made these remarks during a rally in Male' organized to garner support for Maldivian Democratic Party (MDP) ahead of parliamentary elections. At the gathering, Solih highlighted media reports suggesting Muizzu's interest in discussing debt restructuring with India. However, Solih argued that Maldives' financial challenges stem primarily from debts owed to China rather than India. He emphasized that Maldives owes China more than two times the debt as compared to India. Expressing confidence in the willingness of neighboring and Islamic countries from the Middle East to assist Maldives, Solih emphasized the necessity of abandoning stubbornness and embracing dialogue. He criticized the current government's actions, sarcastically remarking on the limited assistance received from the Middle East, citing only 50 tons of dates.