Delhi’s IGI favourite airport for flying to Europe
Delhi airport has emerged as favourite for passengers travelling to Europe, Asia and North America while Mumbai is preferred by those travelling to Middle East and Africa. An air traffic report prepared by Delhi airport revealed that foreign tourists prefer arriving at Delhi. The annual traffic report also revealed that Delhi is the most connected airport as it served to 129 destinations while second was Mumbai with 90 destinations. As per the Bureau of Immigration figure, 29.60% of the tourists arrived in Delhi, 18.20% in Mumbai and 8. 4% in Chennai. Delhi airport’s growth is largely due to increased in international traffic, which has grown from 14.15M in 2015-16 to 15.20M in 2016-17. The Delhi airport has a major market share of air traffic volume to the Middle East, European, Asian and American regions. It has an annual passenger capacity of over 62 million, including Terminal-3 that can handle 34 million passengers. The airport handles over one lakh passengers every day and aircraft movements have also increased. Almost 1,185 arrivals/departures took place from here every day. “The addition of new routes in domestic and international sectors by major airlines has helped Delhi airport emerge as a leading hub airport. Airlines are attracted to Delhi airport as we have a large catchment area and unlike other Indian airports, we have virtually no constraints as far as accommodating future growth is concerned. Execution of the expansion works as per the proposed Master Plan will further enhance the facilities enabling air traffic to grow at a faster pace,” said I Prabhakara Rao, CEO-DIAL. Ivan Provorov Authentic Jersey
Iconic A380 struggling to get buyers: Airbus plans massive revamp of plane, carves out space to fit 80 more seats
HomeIndustry Iconic A380 struggling to get buyers: Airbus plans massive revamp of plane, carves out space to fit 80 more seats Iconic A380 struggling to get buyers: Airbus plans massive revamp of plane, carves out space to fit 80 more seats Airbus Group SE is making a fresh sales pitch for its A380 superjumbo with half a dozen proposals to accommodate more than 80 additional seats, seeking to enhance the flagship jet’s economic credentials after a struggle to win orders in recent years. Airbus Group SE, A380, Korean Air Lines Co., Kiran Rao, Emirates, Boeing Co., Aircraft Interiors Expo, Advertisement “We are adapting the aircraft to meet evolving market needs,” Kiran Rao, executive vice president of strategy of Airbus’s commercial-plane unit, said in a statement.(Reuters) Airbus Group SE is making a fresh sales pitch for its A380 superjumbo with half a dozen proposals to accommodate more than 80 additional seats, seeking to enhance the flagship jet’s economic credentials after a struggle to win orders in recent years. The changes on offer include removing an upper-deck stowage area to add 10 business-class seats, re-positioning the main staircase to clear the way for 20 more premium and economy berths, and moving to an 11-abreast layout on the main deck to accommodate 23 extra people in coach, Airbus said Tuesday. “We are adapting the aircraft to meet evolving market needs,” Kiran Rao, executive vice president of strategy of Airbus’s commercial-plane unit, said in a statement. The A380 now typically seats about 550 passengers on two decks in a three-class layout, though many airlines opt for fewer seats and add flourishes such as bars and showers at Dubai-based Emirates or in-flight duty-free shops at Korean Air Lines Co. Only Emirates, the biggest superjumbo operator, has pushed capacity beyond 600 people on some routes, even though the plane could carry more than 800 in an all-economy formation. Reduced Output Airbus’s pitch that the A380 is ideal for addressing ever-increasing travel demand and congestion at airports has failed to translate into rising orders. The first burst of deals after the model was introduced more than a decade ago has slowed to a trickle, with no sales in the U.S. and Emirates the lone meaningful prospective buyer, and then only if the plane gets a costly new engine. Toulouse, France-based Airbus has responded by scaling back output of its biggest jet, following rival Boeing Co. which has also struggled to find buyers for the latest version of its 747 jumbo. Other A380 enhancements suggested by Airbus include a redesign of the rear spiral staircase into a straight configuration, allowing for 14 more passengers, and moving the pilot rest area next to the cabin-crew sleep zone to create space for three more premium-economy seats. It also proposes adding 11 passengers by shifting to a nine-abreast layout in that class on the main deck. Airbus revealed the proposed changes at the 2017 Aircraft Interiors Expo in Hamburg, where manufacturers and airlines have paraded a variety of cabin enhancements. Art Monk Jersey
Air passenger traffic continues to maintain double-digit growth momentum, records 14% increase in February 2017
During February 2017, the air passenger traffic in the country stood at 21.9 million, exhibiting a y-o-y growth of 14% over February 2016. During 11m FY2017, the passenger traffic has reported a y-o-y growth of 19%, aircraft traffic has grown by 14% and cargo traffic has grown by 9%. Mr. Harsh Jagnani, Vice President and Sector Head for corporate ratings, ICRA Limited elaborates: “The y-o-y air passenger growth has remained healthy at 14% in February 2017, although there has been some moderation as compared to 22% growth witnessed in January 2017. This is primarily on account of moderation in domestic traffic, which constitutes 78% of the passenger traffic in the country and has reported a 16% y-o-y growth in February 2017 as against 26% growth in January 2017. The international passenger traffic growth also witnessed a marginal dip, falling to 7% y-o-y in February 2017 from 8% in January 2017. The y-o-y aircraft traffic growth remained healthy at 10% in February 2017, although in line with passenger traffic, it also reported slight moderation as compared to January 2017”. The growth has remained broad-based with 18 out of the top 20 airports exhibiting y-o-y increase in passenger traffic in February 2017. The air cargo traffic in the country increased to 239,700 MT in February 2017, reporting a y-o-y growth of 9%, lower than the 14% growth in January 2017. Mr. Jagnani explains: ““Air cargo volumes are closely aligned to the macroeconomic conditions and experience significant growth volatility depending upon variations in domestic and international economic environment. Consequently, there have been significant variations in cargo growth rates from month to month, however, the overall trend in y-o-y growth has remained positive over the last year. The growth has remained broad-based, with 15 out of the top 20 airports reporting positive y-o-y growth in February 2017”. International cargo traffic, which constitutes over 62% of overall cargo traffic, reported slightly higher y-o-y growth of 11% as against 7% growth for domestic cargo. On m-o-m basis, both domestic and international cargo witnessed a decline of 2% in February 2017. Detroit Lions Authentic Jersey
Payment delays pose risk to wind and solar projects: Mercom Capital report
Payment delays by distribution companies (discoms) to wind and solar projects in India is hurting project costs for companies and posing a challenge to the sector’s growth plans, Mercom Capital Group said in a report on Tuesday. Payment delays by discoms to these projects is hurting their liquidity and payment to lenders. Discoms in Tamil Nadu, Rajasthan and Maharashtra, Madhya Pradesh, Andhra Pradesh, Telangana and Jharkhand have so far found it difficult to pay renewable energy producers on time due to their own weak financial health, according to the report. Discoms in Maharashtra, Tamil Nadu, Madhya Pradesh and Rajasthan have delayed payments to generators of wind and solar power by as much as 8-10 months, putting their cash flows under tremendous pressure and sending negative signals for developers and investors, Mint had reported in October 2016. Tariffs, both in wind and solar, have come down significantly in the past year. Average solar tariffs in India have fallen by about 73% since 2010, almost in line with Chinese spot module prices. In February, solar tariffs fell to a record low of a levelized tariff (the value financially equivalent to different annual tariffs over the period of the power purchase agreement) of Rs3.30 per unit in a reverse auction at the Rewa solar park. Similarly, wind tariffs fell to Rs3.46 a unit in a recent auction held by the Solar Energy Corp. of India. “With these extremely low tariffs, developers are looking at best-case scenarios with margins for error nearly non-existent. Payment delays are adding to project costs as banks charge higher interest rates due to projects being built in high-risk states known for payment issues, stymying investment into the sector,” the report said. Payment issues persist in some states despite progress of the government’s Ujwal Discom Assurance Yojana (UDAY) scheme, where 25 states and one Union territory have joined the program, the report said. Of the Rs488 billion discom debt, about Rs239 billion loan amount was repaid till the third quarter of FY17 under the UDAY scheme and another Rs90 billion was repaid by Tamil Nadu recently—resulting in 65% of discom debt being repaid, Edelweiss Securities analysts Kunal Shah, Nilesh Parikh and Prakhar Agarwal wrote in a 30 March report. Steve Grogan Authentic Jersey
Power trade jumps 15% at IEX in March
With temperature rising, the spot power market at IEX saw a 15 per cent jump in electricity trade in March but average rate remained low at 2.56 a unit. As many as 3,364 million units (MU) changed hands in March compared to 2,927 MU traded in February. “On a daily average basis, over 109 MUs were traded, up from 105 MUs in the previous month,” the power trading platform said in a statement here. With rising temperature and earlier than usual arrival of summer, the market saw average daily purchase bids of 139 MU, 10 per cent increase over February, while the sell bids were 200 MU. “The market, however, continued to see low price during the month. The average Market Clearing Price (MCP) for the month was2.56 per unit, almost at par with price of 2.54 per unit in February,” it said. The average Area Clearing Price (ACP), the price at which settlement takes place, varied from 1.53 per unit to 4.47 per unit across the bid areas. Stan Musial Womens Jersey
Rajasthan denotifies highways within city limits
Rajasthan has denotified certain sections of state highways passing through populous towns, days after the Supreme Court order banning liquor vends within 500 metres of national and state highways came into effect. The chief engineer of the Public Works Department, however, said that the process of denotification has nothing to do with the apex court directive.Shivlahri Sharma said the status of state highway has been revoked for only those stretches passing through populous areas where bypass roads had been constructed.“When a bypass is constructed, the old section (of the highway) which passes through the city and town become left—out stretches. Since there cannot be two highways of the same number at the same location, the left—out sections come under the local body and lose the status of highway,” he said.As per an estimate, nearly 450 liquor shops were located on such stretches.“The status of state highway has been relinquished only for those stretches which are passing through the limits of local bodies and are connected through a bypass,” Sharma said.He said that the order was issued recently for such roads on approximately 20 locations in the state and the same will be done in case of such left—out sections of state highways where bypasses have been constructed.The officer said the same provision exists for national highways as well.“This process has no connection with liquor shops,” he claimed. According to the state excise department, close to 2,800 shops were located on national and state highways.The Supreme Court in its March 31 order had said that liquor vends within 500 metres of national and state highways would have to shut down from April 1.Recently, the apex court also reduced the distance from 500 meters to 220 meters in municipal areas having population less than 20,000. Luke Glendening Authentic Jersey
To bypass SC’s highway liquor ban, Punjab denotifies 12 stretches passing through cities
The Punjab government has found a way to reduce the effect of the Supreme Court’s orders banning sale or serving of liquor within 500 metres of national and state highways. The state government on Tuesday denotified 12 such highway stretches that pass through cities and towns but for which bypasses were already built. Due to the ban, the state had apprehended a loss of Rs 1,300 as revenue this fiscal for the excise and taxation department that governs liquor sale. Now, sources said, the denotification of the bypassed stretches would offer some respite, though that would be quantified only later. The seven state highway stretches denotified by the public works department are in the districts SAS Nagar, Pathankot, Moga, Hoshiarpur, Patiala, Fatehgarh Sahib, and Nawanshahr. The excise department is now calculating how many liquor shops, including bars, were on these stretches before the SC order came into effect from April 1. The notification says, “The government over the years constructed a number of bypasses on state highways to decongest select cities. As a consequence, the bypassed parts of these highway passing through the cities are no more required to be state highways.” The five NH?stretches denotified, thus realigned, include NH-1 from Shambhu to Attari border with bypasses in Ludhiana, Jalandhar and Amritsar; NH-15 from Pathankot to Abohar with six bypasses; NH-64 from Zirakpur to Bathinda with bypasses in Patiala, Dhanaula and Sangrur; NH-344A from Phagwara to Rupnagar with a bypass in Phagwara; and NH-95 from Kharar to Ferozepur with a bypass in Morinda. The excise department had apprehended removal of 1,500 liquor shops and bars on the highways. Bars inside hotels and restaurants were expected to fetch about Rs 1,400 crore before the ban, but Rs 800 crore of that was from bars within the 500-metre ban radius. The department is expecting revenue of Rs 5,400 crore from liquor this fiscal. “We will examine the notification and see how much of the loss can be recovered,” said additional excise and taxation commissioner Gurtej Singh. Neighbouring Rajasthan has declared state highways passing through inhabited areas as urban roads or district roads to circumvent the SC order. Bo Horvat Jersey
Over 47,000km of rural roads constructed under PMGSY in FY17
The government built 47,350 km of rural roads under the flagship Pradhan Mantri Gram Sadak Yojana (PMGSY) in 2016-17, the most in seven years. That compares with the 36,449km of roads constructed in 2015-16 under PMGSY and 36,337km in 2014-15, the rural development ministry said in a statement on Tuesday. The faster pace of road construction is expected to boost the rural economy, enabling farmers to transport produce to markets quicker. It will also improve access of rural Indians to education and healthcare. During 2011-14, the average rate of construction of PMGSY roads was 73km per day, which increased to 100km per day in 2014-15 and 2015-16, the ministry of rural development said in a statement. In 2016-17, the pace of construction rose to a record 130km of rural roads per day, the highest average annual construction rate in the past seven years. Some 11,614 habitations were provided connectivity by the construction of PMGSY roads in 2016-17 or an average of 32 habitations were provided connectivity every day. To reduce the “carbon footprint” and environmental pollution, PMGSY is aggressively encouraging use of “Green Technologies” and non-conventional materials like waste plastic, cold mix, geo-textiles, fly-ash, iron and copper slag in rural roads. PMGSY was launched in 2000 by the previous National Democratic Alliance (NDA) government with the objective of providing all-weather road connectivity to unconnected rural habitations. It is being seen by the present NDA government as a key tool to spur domestic economic growth, given that the global economy recovery remains weak at present. Finance minister Arun Jaitley had announced an allocation of Rs19,000 crore for the programme in the 2017-18 budget—the same as in 2016-17. Chris Carpenter Jersey
NHAI To Soon Invite Bids To Operate Highways Under New Model
India’s government-run road builder will soon invite bids for long-term leases to manage a dozen stretches of national highways as it eyes foreign institutional investors for funds to improve the country’s road network. The National Highways Authority of India is expected to initiate the bidding process in May for 10-15 operational highways of the 75 selected under the new Toll-Operate-Transfer (TOT) model, a senior NHAI official told BloombergQuint on the condition of anonymity. The model offers 30-year contracts to operate and maintain highways on a one-time upfront payment. GVK Power and Infrastructure Ltd. will consider bidding in the auction, said the company which built airports in Mumbai and Hyderabad and operates the Jaipur-Kishangarh highway in Rajasthan. Since the asset will not be carried in a company’s books, the model will be preferred, said Isaac George, company’s director and chief financial officer. India’s highway construction has failed to meet targets amid lack of funds and delays in land acquisition and environmental clearances. A recent report by ratings agency CRISIL Ltd. estimates that over the next two financial years, highways would require investments of Rs 2.2 lakh crore, more than twice the previous two financial years, as execution of publicly funded projects improves. Luring Foreign Institutions Canadian Pension Plan Investment Board, Macquarie Group and other institutional investors from Europe and Asia, who are equipped to make long-term investments of at least $250 million, have shown interest, said the NHAI official quoted earlier. An email by BloombergQuint to NHAI seeking details did not elicit any response. The CRISIL report estimates that the 75 highways could fetch up to Rs 40,000 crore, lower than Rs 50,000-80,000 crore the government expected. The TOT model can fetch an annual toll revenue growth of 7-8 percent and return on equity of 14-16 percent, it said. This may not be aggressive but road operators are positive, Ajay Srinivasan, director at CRISIL and one of the authors of the report, told BloombergQuint over the phone. “TOT is an asset-light model. We would definitely like to participate in it once the bids open,” said a spokesperson for MEP Infrastructure Pvt., which is the toll operator for five entry points to Mumbai and also manages the Hyderabad-Bengaluru national highway. The model would allow the company to work on a longer tenure, which is always a better option, the spokesperson said. TOT Vs OMT In the Toll-Operate-Transfer model, a private player is expected to operate and maintain the highway and collect toll for 30 years after making an upfront payment, without having to build the highway. The funds generated would be spent on other road projects. “Bidding through special purpose vehicles set up by infrastructure investment trusts (InvITs) or transferring TOT projects to InvITs after two years would also aid better management of risks,” said Srinivasan. The Cabinet Committee on Economic Affairs had in August last year authorised the NHAI to monetise around 75 national highways which are operational and generating revenues for at least two years. The government preferred TOT over the existing Operate-Maintain-Transfer (OMT) model, which requires the selected road operator to manage the project for six to nine years. The OMT model was not successful because there was a fixed annual increase in payments to NHAI irrespective of traffic, the CRISIL report said. The shorter tenure led to poor maintenance, it said. The government hopes the TOT model would facilitate efficient toll realisation through the private sector. It would result in better maintenance of assets, said the NHAI official cited earlier. Paul Hornung Womens Jersey
Transformational Achievements in Power, Coal, New & Renewable Energy and Mines
Coal Coal sector is being transformed from “no coal to more coal to better coal.” Coal production growth is double of UPA production – Total coal production increased to 554 MT in 2016-17 from 462 MT in 2013-14. This increase of 92 MT was achieved by UPA in 7 years. Coal quality is the next frontier after achieving adequate coal for all power plants. Aggressive targets for coal production reduced shortage of coal due to which, CIL had to recalibrate its production and focus on quality. A sense of security was provided to the industry that coal was available sufficiently leading to better inventory management at the consumer end. Efficiency improvements are being conducted at both the coal end and power plants leading to savings for the entire sector thereby benefiting consumers. There has been a reduction in coal consumption while simultaneously matching the quality of imported coal. Coal required to generate per unit of electricity (specific coal consumption) has reduced by 8% in last 3 years. NTPC alone has reduced its specific coal consumption by 5.5% in 2016-17. This is despite reduction of Rs. 23,349 crores in imported coal which is nearly 30% higher in quality than domestic coal and thus is required in lower volumes. Some of the measures that have made this possible include Import Coal Substitution, Coal Linkage Rationalisation, Coal Swapping between less efficient and more efficient units, 3rd Party Sampling, coal washing and Correction of Grade Slippage through re-gradation of Mines. All these steps are being taken to ensure reliable and quality supply of coal to provide affordable and efficient energy to the people of India. Power India’s first power plant was setup in 1897 in Darjeeling. Since then 214 GW of capacity was added till Mar 14 and in just 3 years since then, Conventional capacity has increased by one-fourth i.e. 56 GW since March 2014. This includes Hydro, Thermal and Nuclear.. Robust power generation growth: Power generation growth for conventional is 4.7% for 2016-17 (provisional) and for renewable is 24.6% for 2016-17 (provisional). Therefore, the total power generation growth including renewables is 5.8% for 2016-17 (provisional). Power generation growth including renewables is 6.4% from 2014-2017 versus 6.15% from 2004-14. Generation growth would have increased further but for DSM (Demand Side Management – Energy Efficiency) activities. In 2014-16, growth was 6.9% & if the generation avoided due to DSM is added it was 9.5%. The transmission sector saw a massive growth leading to one nation, one price and one grid. There has been 36% (One third) increase in transmission capacity from Mar 14 to Mar 17. There has been 26% (One fourth) increase in transmission lines from Mar 14 to Mar 17. Alternate Transmission Capacity to South India has increased by 87% from Mar 14 to Mar 17. The drive to connect unelectrified villages achieved a new milestone of 13,123 villages of 18,452 electrified and by May 2018, electrification of all villages will transform lives of rural people. UDAY (Ujwal DISCOM Assurance Yojana) seeks to turn around DISCOMs, and a total of 27 States and UTs have joined. Almost 85% UDAY Bonds have already been issued (Rs. 2.32 lakh cr out of total Rs. 2.72 lakh cr). Energy efficiency movement under UJALA saw rapid growth with total 53 cr LED bulbs distributed of target 77 cr. The Government has distributed 22.6 cr and private companies have distributed 30.6 cr LED bulbs. New and Renewable Energy There has been a one third (32%) increase in grid-connected renewable capacity to 56.6 GW in Mar 17 (provisional) from 43 GW in Mar 16. There has been a 78% increase in overall renewable energy installed from 32 GW in Mar 14 to 56.6 GW in Mar 17 (provisional). There has been an almost a 1/3rd increase in Renewable Energy Generation from 2014-15 to 2016-17 (provisional). In 2016-17, the highest ever wind capacity of 5.5 GW was added. India has now over-taken Spain and reached the 4th position after China, USA and Germany. This sector has been moved from FIT regime to Competitive framework leading to record low tariffs of 3.46 per unit In 2016-17, 6.8 GW solar capacity was added. Through competitive bidding, record Solar tariff of Rs. 2.97 / kWh was achieved. About 10 lakh solar lamps for students have been distributed and this has been upscaled to cover 70 lakh more students. From about 11,000 Solar Pumps installed in Mar 2014, solar pumps have crossed 1 lakh mark. The framework agreement of International Solar Alliance was signed by 25 nations showcasing India’s leadership in the solar sector. Mines Transparent auctions of 21 mineral blocks till January will lead to total estimated revenue of Rs. 73,359 cr to State Governments over the lease periods. The District Mineral Foundations constituted under Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKY) for taking care of people and areas affected by mining activities have seen progress with 11 out of 12 mineral rich States framing rules for DMFs and setting them up in 287 districts. Exploration is being given a fillip by taking up the Aero-geophysical survey of the country in a mission mode. Mining Surveillance System by Indian Bureau of Mines will lead to greater transparency and accountability. TAMRA (Transparency, Auction Monitoring and Resource Augmentation) to provide the status of mining block auctioned will reduce opaqueness in the auction process. Star rating of major minerals has been launched to further sustainability in the mines. NALCO saw its higher ever performance showing a robust economy. In 2016-17, highest ever Bauxite production of 6.825 mt (100% capacity) – 7.6% growth over last year. Highest ever Alumina Hydrate production of 2.1 mt (100% normative capacity) since inception achieved – 7.5% growth over last year Darren Woodson Womens Jersey