Air India parent, National Aviation Company of India Ltd (NACIL), reportedly announced its proposed USD174.7 million sale of ten-year non-convertible debentures or Rupee bonds is expected to meet 15% of the funding requirement for the acquisition of ten aircraft and a GE 90 engine for Air India and Air India Charters Ltd, the parent company of Air India Express, which is expected to cost USD1.2 billion (The Hindu Business Line, 24-Mar-2010).
Air India's bond sale expected to cover 15% of funding for ten new aircraft
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Australia-India air travel market grows rapidly but SE Asian hubs hinder nonstop services
The Australia-India market has experienced rapid growth over the last three years, prompting Australia to lobby for more direct services. Visitor arrivals from India are up 50% since mid-2013, and total passenger traffic between the two countries is up approximately 30%.
Air India launched services to Melbourne and Sydney in 2013 but the Australia-India market is still dominated by Southeast Asian flag carriers. Singapore Airlines has been able to maintain a leading 41% share of the market. Malaysia Airlines also still carries more Australia-India passengers than Air India.
Attracting more nonstop flights from Air India, or the possible launch of nonstop flights to India by Australian carriers, will not be easy despite growing demand. Southeast Asia’s network airlines have a competitive advantage as they serve several gateways in both Australia and India. Southeast Asia’s growing medium/long haul LCCs have also started to compete in the Australia-India market and are well positioned to take a large share of the anticipated growth.
Aeroflot 6th freedom Part 1: long haul growth emphasises Europe-Asia connections
The Western Europe-North East Asia corridor has gained attention as the centrepiece of Finnair's expansion strategy. But just over 500 miles away in Moscow Aeroflot is quietly pursuing a role carrying transfer traffic between the regions. Although Aeroflot's spread of Asian destinations is not as extensive as Finnair's or those of the Gulf airlines, Aeroflot has favourable geography and lower costs. It is not subject to Russian overflight rights and associated costs. Finnair carries the tenth largest number of O&D passengers between Western Europe and Northeast Asia, while Aeroflot is 13th. After Emirates, Aeroflot is the second largest airline transporting passengers between the regions, but is based in neither.
A member of SkyTeam, Aeroflot is not part of the joint ventures (trans-Atlantic and Europe-Asia) that define the alliance's inner circle. Its long haul transfer strategy is focused on Western Europe-Asia. This strategy allows it some independence from SkyTeam but may also aggravate the alliance's established members, much the way that Turkish has irked Lufthansa and United. Aeroflot's connecting traffic, although still an overall small proportion of its international traffic, has grown faster than local traffic.