AI gets its first Dreamliner

naeem@coastaldigest.com (PTI)
September 8, 2012

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New Delhi, September 8: The advanced Boeing 787 Dreamliner of Air India touched down at Delhi's IGI Airport today, ending an over four-year wait of the struggling national carrier to add this next-generation airplane in its fleet.

The plane, painted in red and yellow livery of Air India, landed at the main runway of the airport at 1705 hours and was given water-cannon salute as it taxied to the bay. After parking, a small religious ceremony was conducted to welcome the aircraft in the presence of Air India CMD Rohit Nandan and senior Civil Aviation Ministry and airline officials.

The Dreamliner took 15 hours of flying time from Boeing's Charleston factory in South Carolina in the US to Delhi, plus a 90-minute stopover at Frankfurt for re-fuelling, the commander of the aircraft, Capt A S Soman, told PTI.

"It was a very smooth flight. It has a very quite cabin and there is much less fatigue (for the pilot). It is both a pilot and passenger friendly airplane," he said. Air India, which ordered 27 Dreamliners six years ago, would get two more of these planes in the next few weeks. A total of eight of them would arrive by March next year, including five by December, while the national carrier would get six more in the 2012-13 fiscal.

The aircraft would ultimately become the mainstay of Air India's global operations and is key to its turnaround plan. For Air India, the plane has been configured to have 256 seats -- 18 full-flat Business Class seats and 238 in Economy. It features a host of sophisticated technologies, including mood-lighting inside the cabin and large LCD display screens for in-flight entertainment.

For the next two months, Air India would use the B-787s to operate on select sectors like Delhi-Dubai, Delhi-Kolkata, Delhi-Bangalore and Delhi-Amritsar for the crew to practice more landings and take-offs. So far, a total 65 pilots have been trained to fly this plane.

The mid-size plane has four variants, with the longest -range one capable of flying over 15,000 kms non-stop. By December, Air India would introduce these aircraft on new long-haul sectors like Melbourne and Sydney, apart from the older ones like Japan, Middleast and several European destinations.

A top official of its manufacturer Boeing recently described the aircraft as "the fundamentally right aircraft for Air India's turnaround plan". The plane, made of carbon composite material, is light- weight and is considered less of a fuel guzzler. Boeing claims the plane consumes 20 per cent less fuel compared with the similar-sized B-767s, thereby lowering flying costs.

The first batch was supposed to be delivered in September 2008 but design and production issues at Boeing delayed deliveries. According to Boeing, the aircraft was ready for delivery in May but it got delayed over finalisation of compensation agreement between Air India and the aircraft manufacturer. The agreement deals with the compensation to be given by the US aircraft major for almost four-year delay in deliveries.

Air India was the world's second carrier to have placed orders for this aircraft. Delays in clearing of the agreement and in the plane's deliveries to Air India, made it the fifth airline to get it.

Theairlines which have inducted and are already operating this aircraft are Japan's All Nippon Airways, Japan Airlines, Ethiopian Airways and Lan Airlines of Chile.

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Agencies
May 10,2020

New Delhi, May 10: Congress leader Rahul Gandhi on Saturday demanded that Prime Minister Narendra Modi ensured audit of donations made to the PM-CARES Fund, and to share the details and the money spent with the people.

"The PM-CARES Fund has received huge contributions from PSUs and major public utilities like the Railways. It's important that the Prime Minister ensure the fund is audited and that the record of money received and spent is available to the public," he tweeted.

The #PmCares fund has received huge contributions from PSUs & major public utilities like the Railways.

It’s important that PM ensures the fund is audited & that the record of money received and spent is available to the public.

— Rahul Gandhi (@RahulGandhi) May 9, 2020
His remarks came amid reports that the central government is accumulating a huge sum of money in the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund set up as a corpus to fight novel coronavirus and that the amount spent will not be audited by the Comptroller and Auditor General.

The CAG office had clarified that since the fund is based on donations, it has no right to audit a charitable organisation.

On Friday, Rahul Gandhi told the media that the PM-CARES Fund should be audited and people of the country should know about the donors and the donations made.

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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Agencies
August 4,2020

Lucknow, Aug 4: Rashtriya Swayamsewak Sangh (RSS) Chief Mohan Bhagwat on Tuesday left for Ayodhya to attend foundation laying ceremony of Ram Temple tomorrow.

The Prime Minister is scheduled to lay the foundation stone of the Ram temple in Ayodhya on August 5. The construction of Ram temple will begin in Ayodhya after the said ceremony in which various dignitaries from political and religious fields are scheduled to participate.

Bhagwat, along with PM Modi, Uttar Pradesh Chief Minister Yogi Adityanath, Governor Anandiben Patel and President of Ram Mandir Trust, Nitya Gopal Das will be present on stage for the event.

Supreme Court, on November 9 last year, had directed the Central government to hand over the site at Ayodhya for the construction of a Ram temple.

The formation of Shri Ram Janmabhoomi Teertha Kshetra Trust was announced on February 5 for the construction of Ram temple at Ayodhya. The Trust has been mandated by the Central government to oversee the construction of Ram temple in Ayodhya.

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