INDIA INTELLIGENCE REPORT

 

Business & Economy

Short of hands, airlines 
may hire foreign pilots

What is India News Service, Monday, 21 February 2005, 2100 hrs IST

With the Indian aviation industry progressively expanding, airline companies are encountering a new problem \97 shortage of experienced pilots to operate the proposed flights. And to get over this impediment, several airlines are planning to employ foreign pilots. 

Admitting the problem, the President of Air Sahara, Mr Rono Dutta, said there was a unique phenomenon in India. "Most countries have a fairly regular flow of pilots from the Air Force, but that is not the case here. In India, it is a trickle from the Air Force, not a flow. We will also have to look to get some expatriates. They will probably be for the position of commanders. We have not yet decided on the numbers. But this problem will not delay any of our plans," Mr Dutta said. 

With Jet Airways and Air Sahara having been given permission to operate to London and the former also getting the nod to fly to the United States the need for trained pilots will go up. 

At present there are said to be about 2,000 licensed pilots in the country, with nearly half of them being employed by the airlines operating regular flights. Most others are attached with individual companies or with airlines that offer chartered services.

Units want entry tax on drugs from hill states: The multi-crore small and marginal drug industry employing about 50,000 skilled and unskilled workers in Punjab, is in a quandary. 

AP cotton farmers in crisis: Cotton growers in Warangal beat up a Cotton Corporation of India official accusing him of manipulating prices in collusion with traders.

Regulatory structure likely for debt FIIs: Dedicated debt market foreign institutional investors (FIIs) could soon find themselves lending their financial muscle to Indian asset reconstruction companies (ARCs). 

Don\92t hike rates, Punjab warns bus chassis makers: The Punjab Government issued a warning to manufacturers of bus chassis and bus bodies against any move to hike the rates following an expected rise in their demand from beneficiaries of the Golden Rozgar Yojana.

Yukos tilts to China, ONGC on the fringe: India appears to be out of the race for a stake in the giant oilfield of Yukos in Russia.

Alert on high home loans: The domestic banking industry\92s increased exposure to the housing sector could trigger a asset-liability mismatch. 

Going gets tough for pharma cos in Jan-March quarter: April will be a particularly cruel month for pharma companies, as it will reflect the strain that companies have had to bear over the three-month period ending March 2005.

Jaiprakash to offload equity in subsidiary:
Jaiprakash Associates Limited, the flagship company of the Rs 3,000-crore Jaypee Group of Industries, has decided to offload 36.66 per cent of its equity shares in its wholly-owned subsidiary, Jaiprakash Hydropower.

AllBank maps out route to expansion: Allahabad Bank, poised for a second public offer, will step up its volume of retail loans and sell a variety of other products. 


 
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