Indian Sky Opens to Foreign Airlines! That is Why Indian Airlines is Made SICK and All Set to be Divested!This Diwali Heralds Disaster for the Employees in Aviation Sector!India may allow foreign airlines to invest in local carriers, it is official!

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Indian Sky Opens to Foreign Airlines! That is Why Indian Airlines is Made SICK and All Set to be Divested!India may allow foreign airlines to invest in local carriers, it is official!

The Indian government is likely to approve a plan to allow foreign airlines to buy stakes in Indian carriers, India's industry secretary told Reuters on Monday.

"It is likely to happen," R.P. Singh told Reuters over the phone, when asked if a proposal to allow global airlines to invest in Indian counterparts would be approved by the federal government.

India allows foreign investment of up to 49 percent in Indian carriers, but foreign airlines are not allowed to invest directly or indirectly in domestic carriers.

This Diwali Heralds Disaster for the Employees in Aviation Sector!

Popularly known as festival of lights,Diwali or Deepavaliwill be celebrated on October 26 this year.
Diwali is the most important festival of the year and is celebrated with families performing traditional activities together in their homes. Diwali involves the lighting of small oil diyas to signify the triumph of good over evil.
For Diwali, people wear new clothes, share sweets and snacks with family members and friends. Some business communities begin the financial year on the first day of Diwali, hoping for prosperity the following year.
While the story behind Diwali and manner of celebration varies from region to region (festive fireworks, worship, lights, sharing of sweets), the essence is the same, to rejoice in the Inner Light or the underlying reality of all things.
Let's celebrate Diwali by sending text messages to your friends and relatives. A few samples are given below. Get more of Diwali messages on your mobile by sending WISH to 52424.
May the festival of lights be the harbinger of joy and prosperity. Best wishes for Diwali.
Dhanvantari arogya de, deep chaturdashi sankalp shakti de, Diwali vaibhav de. Happy Diwali.
Here's hoping this festival of lights bring your way, bright sparkles of contentment that stay with you through the days ahead. Best wishes on Diwali.
Sri Ramji aapke ghar sukh ki barsat karen, Dukhon ka naas karen. Prem ki phuljhari wa anar aapke ghar ko roshan kare. Roshni ke diye aapki jindagi me khusiya layen. Happy Diwali.
The holy occasion of Diwali is here and the atmosphere is filled with the spirit of love. Hope your life sparkles like the million stars in the sky.

Read more at:http://indiatoday.intoday.in/story/india-celebrates-diwali/1/157348.html

Will foreign airlines invest if India's FDI rules are eased?

FP Editors Oct 24, 2011
The Cabinet is set to consider a proposal to allow foreign airlines to invest in domestic carriers, according to media reports this weekend.
Liberalisation of sectors, as a general rule, is always a good idea but in this case, it's hard to imagine why any foreign airline would be interested in entering the market right now. It's like flying right into quicksand.
Shiv Kumar, vice president (finance) of Jet Airways made an interesting point when he told CNBC TV18recently: "the operating environment in India is very tough at this point".

Why would foriegn airlines want to invest in the impossible Indian aviation market? Reuters

Indeed, barring Indigo, India's largest low-cost carrier, and Spicejet, no other airline is earning money at the moment. High fuel costs, the sale of ticket prices "below cost' and high operating costs have made the business of operating an airline pretty tough in India.
Jet's Airways' Kumar said there is a wide gap between operating costs and air fares currently. Fares are below cost, crude prices remains high and airline yields show no sign of improving, he told CNBC TV18.
The situation is so bad that India's private airlines recently urged the government to cut taxes on jet fuel, according to a Mint report. Airline companies are believed to have lost up to Rs 3,500 crore in the six months to September because of the tough operating conditions, up from the Rs 2,900 crore lost in the previous financial year that ended March 2011, the report added.
Most airlines are also quite peeved that Air India has aggressively cut ticket prices and is selling them "below cost' in a bid to regain market share, which has forced them to cut fares as well to remain competitive.
Between last year and this year, fares have fallen by over 10 percent, the Mint report pointed out, even as costs climbed by nearly 30 percent due to higher jet fuel prices, higher landing fees and increasing bank loan rates, according to a note sent to the government by an airline lobby group.
No wonder then, that airlines are still struggling to get the profitability equation right. In a bid to claw back some profits, late last week, most airlines finally introduced some whopping hikes in air fares for the high-demand festival season.
A Delhi-Mumbai ticket, for instance, used to cost around Rs 3,500-4,000. Now, it starts at Rs 6,189 and can go as high as Rs 17,000, according to The Indian Express. A one-way ticket between Delhi and Kolkata, which used to cost Rs 4,500-Rs 6,000, now ranges between Rs 15,000 and Rs 17,420.
Still, given that they follow competition-led pricing strategies and unviable business models, there's no doubt that most airlines companies have landed in a tough financial spot. We all know Kingfisher's cash problems, and those of Jet Airways as well. Such issues will, for sure, make foreign airlines wary of jumping in and funding losses of local airlines without having a concrete plan of how to make money in the long term.
Moreover, there are also some differences within the government on how much stake foreign airlines should be allowed. The Department of Industrial Policy and Promotion, which is in charge of investment policy, favours allowing foreign airlines to take up to 26 percent in a domestic carrier, but the Civil Aviation Ministry wants that investment capped at 24 percent, according to The Economic Times. A holding of above 25 percent gives the right to the shareholder to block special resolutions.
India allows 49 percent foreign direct investment (FDI) in airline companies, but foreign airlines are not allowed to invest in the sector currently.
The potential for growth is certainly there: domestic air traffic has been growing at nearly 20 percent a year. The Aviation Ministry believes investments worth $30 billion will be required in the next 15 years to transform India into a global airline hub.
Currently, 12 new airports are being developed across the country, according to a Business Standard report. About 142 million passengers passed through Indian airports in the financial year ended March 2011, a growth of 15 percent from the previous year, it said.
One estimate forecasts passenger traffic to soar to around 540 million by 2025 and the fleet size of airlines to expand to 1,500 from 430 currently. Cargo traffic is also expected to touch nine million tonnes from 2.33 in the previous financial year.
Yet, given the financial mess the sector is in, that potential is unlikely to be harnessed profitably any time soon. An easing of FDI limits won't make life easy for cash-strapped local airlines just yet.
http://www.firstpost.com/business/will-foreign-airlines-invest-if-indias-fdi-rules-are-eased-115127.html

24 OCT, 2011, 07.41AM IST, ET BUREAU

Cabinet to consider proposal to allow foreign airlines to invest in domestic carriers

EDITORS PICK

NEW DELHI: The Cabinet will shortly consider a proposal to allow foreign airlines to invest in domestic carriers, a move that could offer a breather to cash-strapped companies.

The industry ministry has circulated a draft cabinet note for inter-ministerial consultation after a nod from the civil aviation ministry. "Though the aviation ministry has given an in-principle approval, the sectoral cap will be decided by the Cabinet," said an official of theDepartment of Industrial Policy and Promotion (DIPP), which frames policy on foreign direct investment.

While DIPP favours a 26% cap on foreign airlines' holding, the aviation ministry wants it restricted to 24%. A holding above 25% gives the right to block a 'special resolution'.

India allows 49% FDI in airline companies, but foreign airlines have been banned from investing in the sector. "No foreign airline would be allowed to participate directly or indirectly in the equity of an air transport undertaking engaged in operating scheduled and non-scheduled air transport services, except cargo airlines," the current policy says.

According to industry estimates, private domestic airlines have run up losses of more than 3,500 crore in the first half of the current fiscal year. Some, like Vijay Mallya's Kingfisher Airlines, desperately need capital to pay off debt. Budget airline IndiGo is the only carrier making profits while state-owned Air India has the highest losses. Experts say the situation may remain the same for most carriers in the coming quarters.

"This quarter is going to be very bad compared with last year because of supply addition by low-cost airlines, competition, high fuel prices and rupee depreciation," said Rashesh Shah, analyst at brokerage firm ICICI Direct. "For this fiscal, all of them will make a loss."

India has five big private operators and a loss-making national carrier, Air India. Although domestic air traffic has been growing at near 20% due to a rising middle class, some carriers have been faring poorly and find it difficult to raise capital in a restrictive FDI regime.

In the past, opposition to FDI in aviation has largely come from some private airlines. In the mid-1990s, a proposal from Singapore Airlines to form a venture with Tatas was put on hold by successive governments. The two also had to abandon a joint effort to pick up a stake in Air India in 2001.

This time, however, the aviation ministry has favourably replied to DIPP's letter to allow foreign airlines to pick up minority stakes, though it wants the regime to be more restrictive.

But the DIPP official said any cap below 26% would serve no purpose and no foreign firm would be interested in investing. The department, under the industry ministry, is keen on allowing at least 49% FDI in all sectors and had even floated a discussion paper on the issue earlier.

"We can expect strategic M&As in the near future and the sector shall benefit from both capital inflows and technology collaborations," said Akash Gupt, executive director, PricewaterhouseCoopers.
http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/cabinet-to-consider-proposal-to-allow-foreign-airlines-to-invest-in-domestic-carriers/articleshow/10467988.cms

DEALS INDIA
OCTOBER 24, 2011, 5:57 A.M. ET

India to Consider Letting Foreign Airlines Invest in Local Carriers

By MUMBAI BUREAU OF DOW JONES NEWSWIRES

MUMBAI - India's cabinet will consider a commerce ministry proposal to let foreign airlines purchase stakes in local carriers, the Economic Times reported Monday, citing an unnamed government official.

Indian laws currently allow up to 49% foreign direct investment in India's airlines, but foreign carriers are barred from investing in the sector.

The proposal, circulated among various ministries, has received an informal nod from the country's aviation ministry, the report said, citing an official from the Department of Industrial Policy and Promotion, Ministry of Commerce.

"While DIPP favors a 26% cap on investment by foreign airlines, the aviation ministry wants it restricted to 24%," the report said.

http://online.wsj.com/article/SB10001424052970204777904576650621619219458.html

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- OCTOBER 24, 2011, 6:00 PM IST
FDI in Airlines Likely Won't Take Off

By Amol Sharma

Every few months, word leaks that the Indian government is set to liberalize foreign direct investment in some major way.

Last year, for example, we were told of dramatic impending reforms in defense and multi-brand retail.

Now, reports say the Department of Industrial Policy and Promotion has proposed allowing foreign airlines to set up in India.

Elaine Thompson/Associated Press
Reports suggest that the Department of Industrial Policy and Promotion has proposed setting up foreign airlines in India.

Call us skeptical here at India Real Time. These proposals, which usually come in the form of "discussion papers" that are circulated in government, thus far have a poor track record of translating into policy action.

After a few days of back-slapping over how India is poised to take another big step to open its economy, usually nothing happens and the issue fades into the background. These sorts of big-ticket propositions often get stuck in a permanent state of "consideration" without ever advancing to the decision-making stage.

Take defense. Last May, the industry department circulated a discussion paper that floated the idea of increasing the FDI cap in defense from 26% to 74% or even 100%. The theory was that this would attract foreign firms that are otherwise reluctant to license their proprietary technology to Indian partners when they don't have a controlling stake in the ventures.

Predictably, that idea bogged down amid concerns that India would grow too dependent on foreign defense contractors and domestic state-run manufacturers would get hurt in the process.

Similarly, look at retail. In July 2010, there was another industry department discussion paper on allowing foreign investment in multi-brand retail to pave the way for the likes of Wal-Mart and Carrefour to set up consumer-facing stores (rather than wholesale enterprises, which they can already set up).

A year later, a panel of senior bureaucrats recommended an FDI cap of 51% in multi-brand retail, so long as foreign firms target cities with populations over one million and invest at least $100 million in local operations.

But nothing has happened and momentum appears to have fizzled. A government that's under fire for alleged corruption and economic mismanagement is apparently in no mood to take up a contentious policy change that critics believe would be devastating to millions of mom-and-pop retail shops around the country.

A government official told Dow Jones Newswires earlier this month that liberalization of FDI in defense is on hold and indicated that discussions over retail were now focused not on the "multi-brand" superstores but instead whether to increase from 51% to 100% the investment cap for "single-brand" retailers like Nike.

The industry department hasn't publicly released a discussion paper on airlines, and a spokesman for India's Commerce Ministry, which includes the industry department, said he had not seen such a proposal and had no further comment.

Currently, India allows financial investors to own up to 49% of Indian carriers, but the new proposal would allow for the first time foreign airlines (classified as strategic investors) to set up joint ventures in India.

Akash Gupta, head of the regulatory practice at PricewaterhouseCoopers India, said the move would be a boost for an industry where many carriers need financing as they deal with high fuel prices, low ticket prices and piles of debt on their books. Private equity investment in the sector is limited, he said, and only strategic investors (such as foreign airlines) have the wherewithal and experience to take on the challenge.

"This would definitely open up more avenues for funding and give some respite to cash-strapped Indian carriers," Mr. Gupta said.

India does follow through on some FDI proposals, Mr. Gupta says. He pointed to a decision in March this year to streamline the process of setting up a new venture in India when a foreign firm already has an existing joint venture with an Indian partner.

That was based on a proposal circulated last fall – so action was fairly quick. If the Civil Aviation Ministry strongly backs the proposed airline reforms, he says, it will be more likely they'll also get enacted quickly.

Again, the record suggests that roadblocks will be popping up soon enough. Moreover, it isn't even clear whether foreign airlines will be eager to enter India at the moment, even if the proposal does go through, given all the struggles of Indian carriers.

Still, foreign airlines may be tempted by a market where passenger traffic is growing quickly and airports are getting upgraded. "Any foreign investors would be looking at India's growth potential," Mr. Gupta said. That is, of course, if they are allowed.

You can follow Mr. Sharma on Twitter @AmolSharmaWsj.

Follow India Real Time on Twitter @indiarealtime.

More In FDI
Dark Diwali for Kanimozhi, Yeddyurappa; Amar Singh out on bail
Agencies | Oct 24, 2011, 06.24PM IST

NEW DELHI/BANGALORE: It would be Diwali behind bars for DMK MP Kanimozhi and six others accused in the 2G spectrum allocation case with a Central Bureau of Investigation (CBI) court in Delhi on Monday reserving orders on their bail pleas till Nov 3.

The CBI told Special Court Judge OP Saini that it had no objection to bail being given to Kanimozhi, directors of Kusegaon Asif Balwa and Rajeev B Agarwal, Cineyug Film's Karim Morani and Kalaignar TV's managing director Sharad Kumar.

"The five names have cropped up in the supplementary charge sheet. So the charges imposed on them in the chargesheet were just umbrella charges and these offences attract punishment of only five years. So at this juncture, since this punishment is less than five years, I have no objection on the five accused (getting bail)," said special public prosecutor U U Lalit.

He added that most of them had been in jail for more than five months, so bail should be granted to them, as a matter of right.

The CBI told the court that certain conditions should be imposed on all of them so that they remain present at the time of investigation.

The investigating agency opposed bail for Swan Telecom promoter Shahid Balwa and RK Chandolia, who was the secretary of former telecom minister A Raja, who has also been jailed in the case.

"Shahid Balwa's and Chandolia's offences may attract a maximum punishment of seven years, so bail is not a matter of right for these two," said Lalit.

Counsel for Shahid Balwa and Chandolia, Vijay Agarwal, opposed the CBI saying that there should be no distinction between his clients and others.

"Section 420 (cheating) of the IPC (Indian Penal Code) has been dropped against Chandolia and section 471 (using a forged document) of the IPC has been dropped against Shahid Balwa. So circumstances have changed," said Agarwal.

The court reserved its orders on the pleas of all seven till Nov 3. Diwali, also known as the festival of lights, will be celebrated Oct 26.

Kanimozhi, 43, DMK chief M Karunanidhi's daughter, who has been in jail for the last five months since her arrest May 20, said charges against her had now been framed and as per the order of the Supreme Court, she could approach the special court afresh for bail.

Senior advocate Altaf Ahmed told the court that as per the June 22 order of the apex court, both Kanimozhi and Sharad Kumar could approach the special court hearing 2G case, seeking bail after framing of charges.

"As per the Supreme Court order on June 22 in the case of Kanimozhi and Sharad Kumar, liberty was given to them to file fresh application for bail before the special court after framing of charges," said Ahmed.

As a result of this it is now a fit case for bail, he said.

Kanimozhi's bail application was earlier declined by the special court, the Delhi high court and as well as by the Supreme Court.

Kanimozhi, along with other 16 accused including Raja, has been charged under penal provisions for criminal breach of trust by a public servant, cheating, forgery for cheating and using a forged document and Section 7 or in alternative Section 11, read with Section 12, and 13(2), read with 13(1b), of the Prevention of Corruption Act.

On Saturday, the court in its order said there was evidence that Raja, former telecom secretary Siddhartha Behura and others conspired to allocate "valuable spectrum", entrusted to them as public servants, to Swan Telecom and Unitech Wireless illegally to cause "wrongful gain to the companies and thereby Section 409 (criminal breach of trust by public servant) is invoked against them".

The judge also found evidence of Raja flouting rules to issue 2G licences in 2008, pegging them at 2001 prices, and causing huge losses to the government.

On Kanimozhi, the court found evidence that the Rs 200 crore received by DMK mouthpiece Kalaignar TV was a bribe from the Shahid Balwa-owned DB Realty in return for a 2G licence.

Kanimozhi is accused of being the "active brain" behind Kalaignar TV and having been in "regular touch" with Raja.

The court would hear the bail application of Behura Oct 31.

Yeddyurappa to be in jail during Diwali festival

Former chief minister B S Yeddyurappa is set to "celebrate" Diwali in jail as hearing on his bail plea was on Monday adjourned to October 28 by the Karnataka high court.

The 68-year-old BJP leader had sought bail in two of the five corruption cases against him following the Special Lokayukta Court remanding him to judicial custody -- first to October 22 and later extending it till November three.

When the case came up before Justice B V Pinto, Yeddyurappa's plea for interim bail was dismissed as "not pressed" by the judge, setting the stage for hearing on regular bail, as favoured by his counsel and that of complainant Sirajin Basha.

But the matter could not be taken up as the submission by the counsel for former Karnataka minister S N Krishnaiah Setty, who was also remanded to judicial custody by the lower court on October 15, remained inconclusive as the court ended its proceedings for the day.

With court holidays tomorrow and Thursday, and no sitting on Wednesday, further hearing in the cases was adjourned to Friday.

Yeddyurappa is currently lodged in the Central prison at Parappana Agrahara on the city outskirts.

Cash-for-vote scam: Amar gets bail on 'humanitarian' grounds

Rajya Sabha MP Amar Singh, who is undergoing treatment at AIIMS, was on Monday granted bail in the 2008 cash-for-vote case by the Delhi high court on "humanitarian grounds" in view of his "critical" condition.

"Keeping in view the critical health condition of the petitioner (Singh) as he had been continuously in hospital since October 12 till date, on humanitarian grounds I deem it fit to admit the petitioner on bail," Justice Suresh Kait said in his 33-page order.

Initially, the court asked Singh to furnish a personal bond and two sureties of Rs one crore each as a pre-condition for his release on bail, but, later it halved the amount after Singh's lawyers said they were "too high" and would be difficult for the accused to arrange.

Imposing a slew of conditions including that Singh, 55, will not leave the country without prior permission of the lower court, Justice Kait referred to his medical reports and said the jail was not a proper place for him.

"Keeping medical reports in view, it seems to me that the health condition of the petitioner is very critical. Even doctors have advised him not to go in a crowded area and remain in a very hygienic conditions to avoid infection. Obviously, jail is not such a place where conditions as required could be made available," the court said.

Singh, arrested on September 6, will have to furnish particulars of his stay offshore if he goes out of the country, Justice Kait said.

The court also referred to the concession made by Additional Solicitor General Mohan Parasaran on behalf of police that "all was not well" with Singh, who has been hospitalised for multiple problems including kidney ailments.
http://timesofindia.indiatimes.com/india/Dark-Diwali-for-Kanimozhi-Yeddyurappa-Amar-Singh-out-on-bail/articleshow/10476468.cms

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While eating just one meal a day is good for Yogis and is a nice way to cut down costs, you don't have to go to such extremes. Instead, try something simpler.