Mahindra Aero flying high! Adds Botswana’s Major Blue Air as first customer for 10-seater turboprop aircrafts Posted on 25th August 2018 |
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| In a historic feat, Mahindra Aerospace has added Botswana’s Major Blue Air as its first customer for Federal Aviation Administration (FAA) certified new 10-seater turboprop aircrafts.“Delighted that Major Blue Air of #Botswana has become our 1st customer of FAA certified new 10 seater turboprop #aircraft frm @Mahindra_aero. Heartiest congratulations to @arvind_mehra ,Keith Douglas & #Airvan team on their #flying success,” SP Shukla, Group President, Aerospace & Defence at Mahindra Group said in a tweet. Congratulating the team for the major feat, Anand Mahindra said that it’s a historic milestone for the company. “A historic milestone for Mahindra Aerospace. A product developed and certified by Gipps Aero post acquisition by us. May you Rise with it to the skies, Team @Mahindra_Aero,” he said. Earlier, Mahindra Aerospace had received a FAR 23 type certificate from Australia’s Civil Aviation Safety Authority for its Airvan 10, the company had announced. Australia’s first 10-seat, single-engine turbine aircraft has also received a type certificate from the FAA. Notably, while Mahindra Aerospace is based in India, its subsidiary manufacturer GippsAero, is based in Australia. Explaining the features of the new aircraft, SP Shukla said that the aircraft provides a panoramic view and is popular with wildlife tourists. “Botswana is indeed Airvan8 country. This versatile #aircraft from Mahindra_Aero is most popular with tourists for scenic flights to view wildlife. Wide windows provide panoramic view & this plane has all window seats. Low maintenance is added bonus,” he said in a tweet. Mahindra’s Airvan 10 follows in the footsteps of the piston engine 8-seat Airvan 8, and the turbocharged version of the same aircraft, which now operates in 29 countries, according to a company statement in May this year. Australia-based GippsAero is involved in the manufacture of makes the Airvan 10 aircraft. Mahindra Aerospace is a newcomer on the local aerospace scene and its Airvan aircraft are targeted at niche markets where there are few direct competitors. Earlier in 2015, Mahindra Group clinched a multi-million dollar aerospace contract with European consortium Airbus Paris Air Show, proving the major fillip to the ‘Make in India’ initiative. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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