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Mint

Mint Primer | How long before IndiGo can fly its grounded fleet?

IndiGo already has over 70 aircraft grounded due to the unavailability of engines. That number has stabilized for some time now—this indicates that the situation may not worsen.

Business Standard

Back in the driver's seat: Ford India's timeline and Chennai plant revival

The American automobile giant plans a third entry into India, reviving its Chennai facility in Maraimalai Nagar, with an annual capacity of 200,000 vehicles and 340,000 engines for export

Business Standard

SpiceJet moves SC against order grounding its three leased engines

The division bench of the Delhi High Court had rejected cash-strapped airline SpiceJet's plea, saying it did not wish to interfere with single-judge order of same court and asked parties to settle

Business Standard

SC to consider SpiceJet's plea against Delhi HC order grounding 3 engines

The Supreme Court said Thursday it will consider listing low-cost airline SpiceJet's plea challenging a Delhi High Court verdict grounding three aircraft engines for defaulting on payments to lessors. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra asked the counsel for the airline to send an e-mail seeking an urgent hearing of its plea against the high court verdict of September 11. "Please circulate the e-mail," the CJI said, adding that the appeal may be listed. A division bench of the Delhi High Court on Wednesday held that the carrier had violated an agreed interim arrangement for payment of dues and upheld an order of a single-judge bench asking the low-cost airline to ground the three engines for defaulting on the payments. The single-judge bench of the high court had on August 14 directed SpiceJet to ground three engines by August 16 and hand them over to their lessors -- Team France 01 SAS and Sunbird France 02 SAS. A high court

The Economic Times

Most Americans don't trust AI-powered election information: survey

The findings reveal that even as Americans have started using generative AI-fueled chatbots and search engines in their personal and work lives, most have remained skeptical of these rapidly advancing technologies. That's particularly true when it comes to information about high-stakes events such as elections.

The Economic Times

SpiceJet seeks urgent SC hearing against Delhi HC’s order grounding 3 aircraft engines for defaulting on payments to lessors

SpiceJet has appealed to the Supreme Court against a Delhi High Court order requiring the airline to ground and return three engines to lessors Team France 01 SAS and Sunbird France 02 SAS within 15 days due to non-payment of lease rentals. The Delhi HC had also instructed SpiceJet to arrange for the inspection of these engines.

Business Standard

Delhi HC upholds order allowing grounding engines leased to SpiceJet

The division bench rejected cash-strapped airline SpiceJet's plea, saying it did not agree with the single-judge order and asked the parties to settle

The Economic Times

Delhi HC upholds its order directing SpiceJet to return leased engines amid financial struggles

The Delhi High Court upheld an order requiring SpiceJet to ground and return three engines to lessors Team France 01 SAS and Sunbird France 02 SAS due to unpaid lease dues. The court noted SpiceJet's financial struggles and emphasized the need for compliance with the agreed interim payment arrangement.

The Economic Times

Delhi HC refuses to interfere with order directing SpiceJet to ground 3 engines & return them to lessors

The Delhi High Court has confirmed its earlier ruling requiring SpiceJet to ground and return three engines to lessors Team France 01 SAS and Sunbird France 02 SAS within 15 days. The court rejected SpiceJet's appeal and emphasized the need for the airline to settle the issue. SpiceJet, struggling with financial difficulties and legal disputes over unpaid dues, is also facing challenges in reintegrating its grounded aircraft.

Hindustan Times

Italian officials feel EU’s 2035 combustion engine ban is ‘absurd,' seek reversal

Italian officials said the European Union’s plan to ban sales of new internal combustion engines from 2035 should be reviewed

The Economic Times

EU regulators to seek feedback on Google's compliance proposals to avert charges

The European Commission launched an investigation in March into Google to see if it favours its vertical search engines such as Google Shopping, Google Flights and Google Hotels over rivals, and whether it discriminates against third-party services on Google search results.

The Economic Times

HAL shares can rally up to Rs 6,145, order book at all-time high: Antique

The CCS approved a Rs 260 billion procurement order for 240 aero engines for Su-30 MKI aircraft. This will increase Hindustan Aeronautics (HAL)'s already strong order backlog from Rs 940 billion (FY24 end) to Rs 1.2 trillion, resulting in strong revenue visibility of 3.8 times its TTM revenue.

Business Line

HAL stocks surge after ₹26,000-cr IAF deal

Indian Air Force to procure 240 aero-engines from Hindustan Aeronautics Limited

The Economic Times

HAL shares rally 5% on Rs 26,000 crore order win boost

HAL Share Price: Shares of Hindustan Aeronautics (HAL) jumped 5% to a day's high of Rs 4,925 following the Cabinet Committee on Security's approval of a Rs 26,000 crore deal for 240 AL-31 FP aero-engines. These engines will be supplied for Su-30 MKI aircraft of the Indian Air Force (IAF) under the Buy (Indian) category.

Mint

Hindustan Aeronautics share price jumps 5% as cabinet approves aero-engines procurement worth ₹26,000 crore

HAL share price has delivered multibagger returns of over 137% in the past one year and 580% in three years. The PSU defence stock is up more than 67% year-to-date (YTD).

Mint

Nitin Gadkari wants states to push for GST cut on flex-engine vehicles —‘MDs of Tata, Suzuki & Toyota have decided to…’

Gadkari says the central government needs the support of the states to promote flex-engine vehicles by reducing GST up to 12 per cent on flex engines, cars, and scooters.

The Economic Times

'10% GST increase on diesel engines…': Nitin Gadkari’s bold warning on diesel vehicles goes viral

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Business Standard

HAL gains on inking pact with SAFHAL to develop next-gen helicopter engines

Hindustan Aeronautics (HAL) rose 1.68% to Rs 4,680.45 after the company announced that it has selected SAFHAL Helicopter Engines to develop and produce 'Aravalli' engines for helicopters.

CNBC TV18

HAL signs contract to jointly develop new generation Helicopter engines

Shares of Hindustan Aeronautics Ltd. were trading 1.52% higher at ₹4,671.90 apiece on the NSE.

Mint

Five engines to fire up Reliance growth in years ahead: Mukesh Ambani

In just another five years, Mukesh Ambani expects the new energy business on level with its established oil-to-chemicals business. Jio, retail businesses will also contribute significantly to the group's growth.

Business Standard

Delhi HC refuses listing of Spicejet's plea against grounding of 3 engines

The Delhi High Court on Friday refused to grant an urgent listing of low-cost airline Spicejet's plea challenging an order to ground three aircraft engines by today and hand those over to the lessors within 15 days. The plea was mentioned for urgent hearing before a bench of Acting Chief Justice Manmohan and Justice Manmeet P S Arora. The bench said listing the plea during the day was not possible and it will be heard on August 20. "It is very difficult to list it today. Several judges are on leave today. Let the learned judges read the papers (case documents). We will have it on Tuesday," the bench said. Spicejet has challenged a single judge's August 14 order directing it to ground three engines by Friday and hand them over to their lessors within 15 days. The judge had directed the airline to offer prior inspection of the engines to the lessors -- Team France 01 SAS and Sunbird France 02 SAS -- through their authorised representative at the Delhi airport within seven days. Seni

The Economic Times

Delhi HC orders SpiceJet to ground three engines over unpaid dues to lessors

The Delhi High Court has directed SpiceJet to ground three leased engines by Friday over unpaid dues to lessors Team France 01 SAS and Sunbird France 02 SAS. The airline must return the engines within 15 days. The court was doubtful about SpiceJet’s proposal to pledge shares, citing concerns over share price volatility.

Mint

Delhi HC orders SpiceJet to ground three engines by 16 August

The court directed SpiceJet to return the engines to the French lessors within 15 days and make further arrangements for inspection.

The Economic Times

Delhi HC asks SpiceJet to ground three engines and return them to lessors in 15 days

The Delhi High Court has ordered SpiceJet to ground and return three engines to lessors Team France 01 SAS and Sunbird France 02 SAS within 15 days. The airline must also arrange for the engines' inspection by Friday, marking a setback for the low-cost carrier.

Business Standard

Lessors reject SpiceJet CMD Ajay Singh's pledge of shares to pay dues

Citing the depreciation of their assets, the lessors sought the grounding of the airline and the return of the engines

The Economic Times

SpiceJet's engine lessors reject promoter Ajay Singh's offer to pledge personal shares towards airline's liability

Team France and Sunbird France had moved the HC in December, alleging the airline had not paid them their past dues for over two years and wanted the court to restrain SpiceJet from using their three engines after termination of the lease and also hand over them, besides compensating them.

Business Line

Kirloskar Oil Engines reports highest-ever Q1 sales for the standalone business

The EBITDA margin was slightly higher at 12.9 per cent for Q1 FY25

The Economic Times

Release four engines to lessor: NCLT to Go First resolution professional

The NCLT has directed Go First's resolution professional to return four engines to lessor Engine Lease Finance BV, citing a Delhi High Court ruling. This decision adds to the challenges facing the grounded airline's insolvency resolution process. The tribunal has adjourned the matter to August 9 to allow time for further instructions from lessors' counsel. A revised resolution plan has been submitted, reducing the offered amount to ₹195 crore. The DGCA's deregistration of 54 planes earlier this year has complicated the situation for Go First.

Business Standard

NCLT directs grounded carrier Go First to release 4 aircraft engines of ELF

The National Company Law Tribunal (NCLT) on Thursday directed grounded carrier Go First to release four aircraft engines of Engine Lease Finance (ELF) BV. The counsel appearing for the resolution professional (RP) submitted that he has already started the process of returning one engine to the lessor. The RP submitted that he has no objection over the process of releasing the four aircraft. Headquartered in Shannon, Ireland, ELF is the world's leading independent engine financing and leasing company. The NCLT has put the matter for further hearing on August 9, when other engine lessors may argue their case for return. Earlier in June, NCLT had granted an extension of 60 days to the grounded air carrier Go First, for completing the Insolvency process of grounded air carrier Go First for 60 days. This is the fourth extension for Go First to complete the Corporate Insolvency Resolution Process (CIRP), which is struggling to find a buyer. The Delhi-based NCLT bench said this is the f

The Economic Times

NCLT directs Go First to release four aircraft engines of ELF

The NCLT directed Go First to release four aircraft engines to Engine Lease Finance (ELF) BV, with the resolution professional already initiating the return process for one engine. ELF, based in Shannon, Ireland, is a prominent engine financing and leasing company. The tribunal scheduled further hearings for August 9 to consider objections from other engine lessors.

Business Standard

No objection to release 4 leased engines to lessors: Go First to NCLT

Go First got a final 60-day extension from the National Company Law Tribunal (NCLT) on June 12 to complete its corporate insolvency resolution process (CIRP)

Business Line

TAFE Motors and Germany’s Deutz sign pact for engine manufacturing in India

TAFE Motors partners with Deutz AG to manufacture engines for Indian and overseas markets, enhancing competitiveness and market presence

The Economic Times

TAFE Motors, DEUTZ AG ink pact; to expand internal combustion engine business

TAFE Motors and Tractors Ltd would produce engines to suit newer applications in the Indian market as well as for DEUTZ's requirement. The engines would be produced at the manufacturing facility of TAFE Motors at Alwar, Rajasthan. The manufacturing facility currently produces diesel engines and gensets in the 5 to 125 kVA range that are marketed as Eicher Engines and TMTL Engines.

The Economic Times

SpiceJet faces contempt notice from Delhi HC for non-compliance

The Delhi High Court issued a contempt notice to SpiceJet and its executives for failing to comply with a May 27 order to return two Boeing aircraft and three engines to lessor TWC Aviation Capital. The court warned that contempt proceedings will proceed unless SpiceJet complies by July 8.

Business Standard

AI to be gamechanger for India in citizen services: Salesforce's Arundhati

AI's cross-border nature will require a 'Global Compact' to ensure its benefits reach all of humanity and to safeguard against any potential misuse, Arundhati Bhattacharya, the top boss of Salesforce India has said exuding confidence that for India, Artificial Intelligence will be a "gamechanger" in delivery of public services. Bhattacharya, the CEO and Chairperson of Salesforce India and former Chairperson of the SBI, said that AI is poised to bring about a transformation in every sphere - from healthcare to diagnostics, and education to skilling. The advent of this futuristic technology will benefit India in a big way, firing the engines of public service delivery, at scale and lower cost, she observed. In an interview with PTI, Bhattacharya also highlighted the need for a 'Global Compact' on AI, given the cross-border nature of technology and its impact. Bhattacharya said she is convinced that AI would benefit society, but in the wrong hands it can be prove to be "quite harmful"

The Economic Times

Capture the theme at the right time: Is investment in EV a good long-term bet?

The rise in EVs can be attributed to two main factors, first, a substantial global push by governments to achieve net zero emissions through various policy measures; and second, a nearly 90% decrease in battery costs over the past ten years, which has made EVs more affordable and, as a result, brought them closer to cost parity with internal combustion engines (ICE)

The Economic Times

Government focus on agriculture, rural income to sustain tractor demand: Swaraj Engines

The government's agricultural focus in India, along with initiatives to boost rural incomes, is expected to sustain tractor demand despite a 7 per cent industry sales decline reported by Swaraj Engines Ltd. The company's annual report highlights opportunities in the horticultural segment and factors like increased affordability, demand for farm mechanisation, and government efforts to improve agriculture. Swaraj Engines foresees its engine business aligning with the industry's growth trajectory.

The Economic Times

How a tax sop has created a divide in India's motown

Indian automakers are at a crossroads as they navigate the shift from internal combustion engines to electric vehicles. Consumers are showing a preference for hybrids over EVs, sparking debate among automakers. The government's proposed tax reduction for hybrids has divided industry leaders, with some advocating for incentives solely for electric vehicles. The potential impact on sales volumes and climate goals is a central point of contention.