Toulouse: The world’s biggest maker of commercial aircraft Airbus SAS forecast that airlines will buy 24,300 planes worth $2.8 trillion (Rs110 trillion) over the next 20 years, with demand growing most in the Asia-Pacific region.
Average annual deliveries from all plane makers will total 1,215 passenger and freighter aircraft, 7.5% higher than the 1,130 predicted by Toulouse, France-based Airbus in its forecast in 2006.
Passenger traffic is likely to grow an average of 4.9% over 20 years, with the pace of growth in Asia and other developing regions faster than in the US and Europe, Airbus chief operating officer John Leahy said on Thursday. “We know about China, we know about India,” Leahy said at a briefing in London. “Low-cost carriers are also growing very rapidly, and we’re seeing high growth rates for domestic markets, especially in China.”
- Andrea Roth / Bloomberg
Apex court likely to hear Ushodaya case in May
New Delhi: An 8 February Supreme Court hearing of a bitter dispute between the government of Andhra Pradesh and Margadarsi Financiers, owned by Ramoji Rao, the publisher of Telugu newspaper ‘Eenadu’, has been put off, mostly likely until mid-May.
The case was closely watched as it had affected Blackstone Group’s private equity investment into Ushodaya Enterprises Ltd, the publisher of Eenadu. Rao had sought to sell a stake in his publishing company to repay depositors of Margadarsi, which collected public deposits. That deal fell apart amid political opposition and the reluctance of finance minister P. Chidambaram to approve the deal that had been cleared by all relevant government departments. In Febuary, investor Nimesh Kampani stepped in, agreeing to invest up to Rs1,200 crore into Ushodaya. Rao was seeking to raise at least Rs2,200 crore to try and fend off demands by the state government to seize assets of Margadarsi and related companies in what is widely seen as a political and business dispute between Rao and Andhra Pradesh chief minister Y. Rajasekhara Reddy. In a April 2007 hearing, the court had ordered there should be no freezing of Margadarsi Financiers accounts or attachment of its properties as sought by the state government.
In November 2007, the state government filed an application asking the court to vacate its order and to compel Margadarsi to furnish more details related to its bank accounts and records. Following this, during the last hearing on 30 November 2007, the division bench led by Chief Justice K. G. Balakrishnan issued a notice to Margadarsi to respond to the state government’s application.
- Malathi Nayak
Roda Mehta quits Media Research Users Council
Mumbai: Roda Mehta, the technical chairperson of Media Research Users Council (MRUC) has left the research organization she helped set up, according to some media buyers who did not wish to be identified. Her contract expired in October and was not renewed. Mehta directed queries to MRUC chairman G. Krishnan, who is also the chief executive of TV Today Network Ltd. Though he could not be reached, MRUC vice-chairman Andrey Purushottam said “contract discussions” with Mehta were still on.
- Staff Writer
Indiabulls picks stake in DLF’s Tehkhand project
New Delhi: Real estate developer Indiabulls Real Estate Ltd has acquired the stake of DLF Ltd, India’s largest real estate developer in Tehkhand residential project at south Delhi for an undisclosed amount according to a statement made by the company to the Bombay Stock Exchange. The acquisition was made through its subsidiary, Indiabulls Infrastructure Ltd.
DLF and Indiabulls had formed a joint venture firm, Kenneth Builders and Developers Ltd in 2006 to develop a project in south Delhi. Kenneth Builders had earlier won the auction by Delhi Development Authority to develop a residential project on 35.8 acres of land located at Tehkhand in south Delhi. The remaining 50% shareholding of Kenneth is owned by Bridget Builders and Developers Pvt. Ltd, a wholly owned subsidiary of Indiabulls Infrastructure. With this, Indiabulls now owns 100% stake in Kenneth Builders.
- Shabana Hussain