NEW DELHI — The Indian government plans to sell a 10% stake in state-owned defense aerospace firm Hindustan Aeronautics Ltd. (HAL), according to a senior minister. “The government is aiming to sell HAL’s shares through an initial public offering,” Finance Minister P. Chidambaram said Nov. 8. The sale is expected to take place in the next fiscal year, which begins April 1. The government hopes to earn 25 billion rupees ($460 million) from the sale.

NEW DELHI — India will expedite the procurement of the Swiss Pilatus PC-7 Mk. 2 trainer and the Indian air force (IAF) will begin training courses on the new turboprop aircraft starting in July 2013, the country’s defense minister says. The contract for 75 trainers, signed in May, is worth more than 500 million Swiss francs ($520 million). Deliveries will begin in February 2013 and last until August 2015.

Indian carrier Jet Airways plans to sell and lease back its aircraft as one of several measures to improve cash flow and profitability. “We are looking at more sale and lease-back options in the current quarter in addition to those done in the previous two quarters. This will result in cash surplus and consequential reduction in the working capital loans, as well as [the] lowering of interest cost going forward,” said CFO Ravishankar Gopalakrishnan during a fiscal second quarter results conference call.