Jay Menon

India Correspondent

Delhi, India

Summary

Articles

Jay Menon
India is considering a proposal to permit civil air operations at a naval airport in the southern state of Karnataka. The Karnataka state government has approached the Ministry of Defense to give permission for civil operations at the naval airport at Karwar, Defense Minister A. K. Antony says.

Jay Menon
Low-fare Indian carrier SpiceJet says it is not in talks with private equity firm TPG Capital for a stake sale to expand its fleet size. “The company [SpiceJet] is not in discussions with TPG for [a] stake sale and further, it cannot comment on market rumors and speculative reporting,” the country’s second- largest budget airline by market share said in a filing to the Bombay Stock Exchange Tuesday.

Jay Menon
In a major act of relief for struggling Air India, state-run oil marketing companies agreed to extend the airline’s credit limit by two to three months for the purchase of jet fuel, instead of requiring daily payments. “Instead of cash-and-carry, Air India will from now on make payments on the basis of this credit limit of two to three months. So, the tension of making daily payments is now over,” says Aviation Minister Vayalar Ravi. Air India has been paying 165 million rupees ($3.6 million) a day for fuel.