PAWAN HANS WANTS TO FLY HIGHER, GROW WINGS


Pawan Hans Limited (PHL), the government-run helicopter service company, has launched an ambitious expansion plan, its first since its launch 30 years ago. The company, 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 Rs 900 crore. 
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," Pawan Hans chairman BP Sharma said, adding that the company was keen on going ahead with the expansion plans. 
Pawan Hans reported an annual net profit of Rs 38.81 crore in the 2014-15 fiscal, up by Rs 24 lakh from last year. The company had reported a net profit of Rs 38.57 crore in financial year 2013-14. The company, which held its 30th annual general meeting last week, also declared a dividend of Rs 7.76 crore to the Central government, the company said.

Comments

Post a Comment

Popular posts from this blog

Vistara Domestic Premium Economy vs. Economy – Is The Upgrade Worth It?

Economy on Vistara As one of only two  full-service carriers  in India, Vistara offers a high-quality economy product. On its A320, which used on most domestic routes, it offers 18-inch wide seats with a pitch of 29-30 inches. While this does sound standard, the well-padded seats and adjustable headrest make for a much more comfortable offering than its low-cost competitors. The seats also offer an acceptable 3″ recline. In terms of service, Vistara is one of the few airlines offering hot meals on domestic routes (minus short routes under an hour). All economy passengers, except those booked on Economy Lite fares, receive a meal along with hot or cold beverages. From personal experience, the meals are good and enough for domestic hops. For those traveling on Lite fares, only complimentary hot beverages are available. Vistara also has a small buy-on-board menu, which features packaged snacks and drinks, along with some hot instant meals. Originally, the airline served all passe...
Read more

GE, Rolls Royce, Pratt & Whitney : Who Rules the Engine Market?

When it comes to engines, much like plane manufacturers, there are a few players leading the market. GE, Rolls Royce, and Pratt & Whitney are likely the names you hear the most when looking at the industry (or looking out the window). But which of these three giants is the leader? And what planes do they power? Essential parts The engine is an essential part of the aircraft, providing the power and thrust required to operate an aircraft and keep it in the air. Engines also determine  aircraft efficiency , a key factor in reducing emissions and fuel burn. When purchasing planes, airlines are faced with the option of which engines to put on their planes. Safety isn’t usually an issue with most engines, although  a few  have seen  recurring issues , which means airlines usually make the decision on price alone. So, what choices do airlines have for engines? That depends on your plane and aircraft type. Take the A380 for instance. When purchasing the aircraft, airlin...
Read more

Moody's revises outlook on global airline industry to positive

By PTI | 19 Jan, 2015  On the back of steep fall in the crude prices, international rating agency Moody's has changed its outlook of the global airline industry to "positive" from stable.  It projected adjusted operating profit margins for the industry at 12-14 per cent for 2015 and 11.5-13.5 per cent for 2016, significantly up from its estimate of 8.5-9.5 per cent for 2014.   While American carriers will continue to have the largest increase in profit, in Asia the capacity growth will outstrip the demand growth, it said.  Moody's vice-president and senior credit officer Jonathan Root said in the report that Asian airlines are unlikely to add extra capacity in 2015, even with lower fuel prices.  Read more at: http://economictimes.indiatimes.com/articleshow/45942691.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Read more