TAAL hits on novel scheme for air taxi operations

PUNE, Oct 4: Taneja Aerospace & Aviation Ltd (TAAL) plans to expand its air taxi operation and push corproate aviation to improve its...

PUNE, Oct 4: Taneja Aerospace & Aviation Ltd (TAAL) plans to expand its air taxi operation and push corproate aviation to improve its performance.

The company is planning to launch Corporate Aircraft Program Scheme (CAPS) to encourage corporate India to use aviation as a means of transport. To be run on the model of the time sharing scheme, this scheme will ensure part ownership of the aircraft.

The CAPS scheme reduces entry level costs of aircraft ownership from Rs. 230 lakh to Rs. 37.50 lakh. It will enable 100 hours to 200 hours of flying per annum on any five aircraft owned by the company.

Story continues below this ad

During 1998-99, the company made an operating profit of Rs. 396.69 lakh. However, the interest burden increased from Rs. 457.46 lakh in 1997-98 to Rs. 555.28 lakh. This resulted in a loss of Rs. 255.15 lakh. TAAL has gone in for restructuring to reduce the interest burden by several crore rupees by 1999-2000. Efforts are being made to streamline operations, increase indigenisation, aggressive outsourcing and rationalising manpower.

Reduced manpower is expected to bring about savings of Rs. 40 lakh while the indegenisation is expected to save the company around Rs. 25 lakh.

The company is holding talks with European and North American companies to make aerostructures. Moreover, the prototype of the multirate light transport aircraft called Saras designed by the National Aeronautical Lab has made progress and is in the stage of manufacturing tools and parts.

EXCLUSIVE: EC brings in feature to check misuse of identity to seek voter list deletions

Political Pulse3 hr ago

The Election Commission has launched a new 'e-sign' feature on its portal and app to prevent fraud. This comes after allegations of misuse of online voter deletion forms in Karnataka. The feature requires voters to verify their identity using their Aadhaar-linked phone numbers, reducing the possibility of fraud.

View all shorts

Live Blog