Bad loans under the Pradhan Mantri MUDRA Yojana since the launch of the scheme on April 8, 2015, is just 3.38 per cent of the total disbursements of Rs 13.64 lakh crore.
Govt Allows Indian Carriers To Wet Lease Wide-Body Planes For Up To 1 Year
The civil aviation ministry has allowed Indian airlines to take wide-body planes on wet lease for up to one year as it pursues efforts to make the country a key international hub for air traffic. Such relaxation shall be available to all Indian carriers on their specific request and the ministry will consider the same based on international destinations that the airline intends to operate.
Under the wet lease arrangement, planes are leased along with operating crew and engineers. Generally, wet leasing of planes is allowed for short periods to tackle supply constraints and ensure that airfares do not surge significantly. With more wide-body aircraft being operated by Indian carriers, they will be able to ferry more passengers and ultimately that will help the country become a key international hub for air traffic in the coming years.
The country’s largest airline IndiGo on Sunday said it approached the ministry and has received a communication conveying the ministry’s approval to allow Indian carriers to wet/damp lease aircraft for a period of six months extendable by another six months. The airline plans for inducting B777 aircraft on wet/damp lease basis during the current winter schedule.
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