18 Mar 2020

India Aviation Industry Newsletter 18 March

Boeing looks to double annual sourcing from India to US$ 2 billion Boeing is planning to double its annual sourcing from India to US$ 2 billion in near future, said Mr Salil Gupte, President, Boeing India. According to Mr Gupte, “Currently our annual sourcing from India is around US$ 1 billion. Our goal is to double that over a number of years”. He added that this could possibly happen in the next 5-10 years. From India, Boeing supplies critical components such as aero structures, wire harness, composites and ground support equipment. Its suppliers consist of TAL Manufacturing Solutions and Hyderabad-based Cyient. Four AAI-run airports among best aerodromes in world Four AAI-run airports won 10 awards in four different categories at the 2019 ASQ awards and adjudged among the best aerodromes in the world. ASQ is a globally established programme that measures passengers' satisfaction while travelling through an airport. Airports Council International (ACI), which is an independent agency of airport operators, carries out international benchmarking of aerodromes. "Four AAI airports -- Chandigarh, Mangaluru, Trivandrum and Lucknow -- have been adjudged the best in the world in recently announced 2019 ASQ awards. These airports won 10 awards in four categories," Airports Authority of India (AAI) said in a release. India Cabinet approves the Foreign Direct Investment policy on Civil Aviation To permit foreign investment up to 100 per cent by those NRIs, who are Indian Nationals, in case of M/s Air India Ltd., the Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved to amend the extant FDI Policy to permit Foreign Investment (s) in M/s Air India Ltd by NRIs, who are Indian Nationals, up to 100 per cent under automatic route. India Will Need Almost 2,000 New Aircraft In Next 18 Years – Airbus India would require 1880 new passenger and cargo aircraft between now and 2038, according to Airbus latest India market forecast. In the next two decades, Indian air traffic is projected to increase at 8.2% per year, making it the world’s fastest growing market. “Some 1,440 aircraft are for growth and 440 are needed to replace aircraft that will be retired. Considering the 440 retirements, India’s existing domiciled fleet of 510 aircraft will quadruple to 1,950 by 2038,” said the forecast released at Wings India 2020. Acumen Aviation © 18 March 2020 All Rights Reserved.