Fair trade regulator CCI on November 14 approved Adani Properties' acquisition of 23.5 percent stake in the country's second busiest aerodrome Mumbai International Airport. Adani Properties has acquired the shares from Mauritius based Bid Services Division and ACSA Global.As per the combination notice filed with CCI, the transaction involves acquisition of shares through two separate share purchase agreements.While Adani is buying 13.5 percent stake in Mumbai International Airport from Bid Services Division, the rest 10 percent has been acquired from ACSA, as per the notice said.Close In a separate tweet, Competition Commission of India (CCI) said it "approves merger of the BNP Paribas Mutual Fund and the Baroda Mutual Fund". related news SAIL logs Rs 343 cr loss in Q2 India's PC market grew 15.8% to 3.1 million units in Q3: IDC Import-driven industries to get special financial package: Nitin Gadkari Bank of Baroda and BNP Paribas Asset Management in a joint statement in … [Read more...] about CCI approves Adani’s 23.5% stake-buy in Mumbai International Airport
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In a relief to frequent and even occasional flyers, airfares may remain low despite the 14 per cent increase in prices of air turbine fuel in the past one year. “Given the level of competition, it looks like airfares may continue to remain low,” says Amber Dubey, partner and India head of aerospace and defence, KPMG.But that doesn’t mean that flying will get any smoother in the short term. Dubey, who was instrumental in drafting the National Civil Aviation Policy, points out that capacity addition in airports, biometrics-based verification and reforms in immigration are imperative to develop the industry.In an interview with Moneycontrol, Dubey said that despite the challenges, India had the potential to surprise the top two aviation powers, US and China, by 2030. Close Edited excerpts from the interview: related news Bharti Airtel posts staggering Rs 23,045 cr net loss in Q2 after AGR provisioning … [Read more...] about Airfares to remain low; but brace for clogged airports, says KPMG’s Amber Dubey
As much as everyone hates air travel, for some people, the worst part is when you exit the airport. Cab fares, especially in New York City, can climb over $100. Ride-sharing companies’ rates aren’t much cheaper. advertisement The Port Authority of New York and New Jersey, which manages the region’s three main airports, is working to reduce that financial burden—at least at LaGuardia Airport. It’s teaming with Via to set a $20 cap for shared rides within New York City, the two announced this morning. The program, called LGA Connect, is live now. Shared trips to Staten Island and the Bronx will cost a $20 flat rate, while travelers going to Manhattan, Brooklyn, and Queens pay $15. LGA Connect “represents an opportunity for the public and private sectors to work together to introduce a solution that could meaningfully reduce congestion and expand access to a new form of public transit at New York City’s highly trafficked … [Read more...] about $15 fares from LaGuardia Airport? Yes, but there are a few catches
Union minister Suresh Angadi on November 15 said that "airports and trains are full and people are getting married" and this indicates that the country's economy is "doing fine"and dismissed the opposition's criticism over the state of economy.The minister of state for railways said "some people" are trying to malign the image of Prime Minister Narendra Modi. Noting that the economy slows down every three years but it will pick up soon."Airports are full, trains are full, people are getting married. Some people are doing this for nothing else but to malign the image of Narendra Modi," Angadi told reporters during an inspection of the soon-to-be-commissioned Tunda-Khurja section of the eastern dedicated freight corridor, which will stretch from Punjab's Ludhiana to Howrah in Bengal and be completed by December 2021.Close "Every three years there is a fall in demand in economy. It is a cycle. Then the economy picks up also," he added. related news Sukhbir Badal writes to PM … [Read more...] about People getting married, airports full indicates Indian economy is fine: Union Minister Suresh Angadi
Chances are, when you arrive at the airport, you’re more worried about forking over obscene amounts of cash for a checked bag than what’s over that grassy knoll beyond the runway. The airfields of JFK or LAX certainly wouldn’t be anyone’s idea of a picturesque landscape. advertisement advertisement Charles Waldheim, co-curator of a new exhibit at Harvard University entitled Airport Landscape, has a different take. “Our basic argument is that the airport sits in a kind of blind spot, culturally. It’s been dealt with in a technical way,” he tells Co.Design. “It’s a site for engineering, but the design disciplines have paid less attention,” Designing an airport is a monumental puzzle for an architect to solve. Consider how the terminals need to accommodate increasingly larger planes and shifting security requirements, confused tourists and wayward baggage, air control and transit connections. After taking care of the … [Read more...] about What Should We Do With Abandoned Airports?