Aviation Sector

Airspace violation prompts brief evacuation of US Congress

Airspace violation prompts brief evacuation of US CongressWashington  - A pilot flying a small plane violated the tight airspace regulations around Washington, prompting orders to briefly evacuate Congress and parts of the White House, media reports said.

The US Senate adjourned into a quick recess but returned to session minutes later after the all-clear signal was given. MSNBC television reported that the pilot complied with demands to alter course.

Top dignitaries meet to decide about new chiefs of AI, AERA

Air IndiaIndia's national carrier, Air India, and the recently-created Airport Economic Regulatory Authority, AERA, will likely have new chiefs named on Friday, after a high-profile meeting - under the chairmanship of Cabinet Secretary K M Chandrasekhar - takes a decision regarding the persons to be at the helm of affairs of the two organizations.

Other known dignitaries to participate in the top-level meeting include Prime Minister's principal secretary TKA Nair, civil aviation secretary M Madhavan Nambiar, and public enterprises selection board chairman Naresh Narad.

Global Vectra to pump $130 million in next two years

Global Vectra HelicoptersGlobal Vectra Helicopters, part of the $800-million Vectra Group, is presently looking at the option to make an investment of $130 million over the next two years to enhance its fleet size as well as consolidate its operations.

Moreover, the company is also looking at the possible option to raise funds, which it will use to increase its fleet strength by 14 helicopters to 45 in two years.

The company intends to focus more on off-shore activities which are basically non-oil and gas.

Airlines cuts air fares to woo passengers

Airlines cuts air fares to woo passengersSome Private Airlines have decided to make air travel cheaper, cutting air fare to woo more passengers and to increase demand in the aviation sector, facing the heat of global slowdown under the impact of low demand across the segment.

Domestic carriers including SpiceJet Ltd, Jet Airways (India) Ltd, JetLite (India) Ltd, GoAirlines (India) Pvt Ltd and Air India announced various discount schemes and fare cuts to boost sale across the segment.

Rencently, some private airlines increased the price of tickets by Rs 300.

Delta, United post hefty first-quarter losses

Delta Air LinesNew York  - Delta Air Lines Inc, the world's largest carrier, and United Airlines parent UAL Corp on Tuesday posted first-quarter net losses totalling more than 1 billion dollars despite a drop in fuel prices, because of a deepening travel slump.

Delta reported net losses of 794 million dollars for the quarter. The airline said it would add a 50-dollar-fee for international travellers who check in a second bag - a move that will enable Delta to earn more than 100 million dollars a year.

Buy Kingfisher Airlines - Nirmal Bang

Buy Kingfisher Airlines - Nirmal BangNirmal Bang has maintained its ‘Buy’ rating on Kingfisher Airlines Limited to achieve a target of Rs 47.50 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 34.90.

Shares of the company, on Monday (April 20), closed at Rs 38.80 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 158.50 and a low of Rs 22 on BSE.

Air France-KLM is making discussions with Kingfisher and Jet Airways in order to serve up Indian secondary markets.

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