Government allows direct jet fuel import, Air India debt plan
February 7th, 2012 - 2:57 pm ICT by IANS
New Delhi, Feb 7 (IANS) An empowered group of ministers (EGoM), led by Finance Minister Pranab Mukherjee, Tuesday allowed domestic airlines to directly import aviation turbine fuel and approved Air India’s debt restructuring plan.
“The EGoM has allowed the airlines to import jet fuel directly,” Civil Aviation Minister Ajit Singh told reporters here.
The move will help bring down operating costs of carriers significantly. Aviation turbine fuel now constitutes about 50 percent of the total operating cost of airlines in India.
As part of its debt restructuring plan, the national carrier will raise Rs.7,400 crore via bonds, backed by a sovereign guarantee.
- Government approves direct jet fuel import, Air India debt plan (Lead) - Feb 07, 2012
- Government rolls out plan to help domestic airlines (Roundup) - Feb 07, 2012
- SpiceJet allowed to directly import ATF - Apr 18, 2012
- Aviation stocks rally after direct jet fuel import allowed - Feb 07, 2012
- Air India to get Rs.4,000 crore budget support for 2012-13 - Mar 16, 2012
- Government notifies direct fuel import by airlines - Feb 22, 2012
- SpiceJet applies for direct import of jet fuel - Apr 03, 2012
- Airlines should tie-up with suppliers to import jet fuel - Feb 16, 2012
- Government to pay Rs.150 crore dues to help Air India - Jan 17, 2012
- Private airlines to have global traffic rights - Mar 14, 2012
- SpiceJet foresees tough times - Mar 05, 2012
- PM to meet airline chiefs Saturday (Lead) - Nov 25, 2011
- Budget proposes allows airlines to access foreign funds - Mar 16, 2012
- Cabinet may consider FDI by foreign airlines before budget - Jan 31, 2012
- Focus on rationalising sales tax on ATF: CII - Feb 05, 2012
Tags: air india, ajit singh, bonds, civil aviation, crore, debt plan, debt restructuring, domestic airlines, finance minister, jet fuel, national carrier, New Delhi, pranab mukherjee, turbine fuel