Pawan Hans to acquire 2 seaplanes, 13 aircraft for INR 900 cr; to target politicians

Pawan Hans Limited (PHL) which has a fleet of 46 helicopters (plus seven on a lease agreement), plans to acquire two seaplanes and 13 aircraft at the cost of INR 900 crore and will target politicians, reports Mumbai Mirror. In what is obviously its most ambitious plan, the company is banking on the political parties to fill its coffers. 
"We are looking at politicians and Central ministries as prospective clients. Currently, only private operators cater to this segment," a senior Pawan Hans official said. The PHL, in which the government holds 51% stake and the rest are with the public sector unit Oil & Natural Gas Corporation (ONGC), has also said that it is looking at setting up maintenance, repair and overhaul (MRO) business under the 'Make in India' project. 
A senior PHL official told Mumbai Mirror that the company has submitted a proposal to the Ministry of Civil Aviation to expand its fleet, even as it prepares to launch an initial public offering (IPO). The government is already discussing plans to divest stake in Pawan Hans in financial year 2016, and has hired the SBI Caps as adviser. 
The company has faced turbulent phase recently, with seven helicopter crashes being reported in the last decade. "We currently operate from across 21 bases, touching 65 sectors with an average 90 hours of flying per day. We have 46 choppers and seven helicopters are on an operation-and-management lease," BP Sharma, Chairman, Pawan Hans, said, adding that the company was keen on going ahead with the expansion plans. Pawan Hans reported an annual net profit of INR 38.81 crore in the 2014-15 fiscal, up by INR 24 lakh from last year. The company had reported a net profit of INR 38.57 crore in financial year 2013-14. 
The company, which held its 30th annual general meeting last week, also declared a dividend of INR 7.76 crore to the Central government, the company said. During the meeting, Sharma presented expansion plan to the stakeholders in the areas of seaplane services, small fixed-wing operations, and setting up of more heliports and helipads in the country to promote regional connectivity. 
Source: http://www.travelbizmonitor.com

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