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Capital Notes

Air-India & Jet face fine by EC

AIR-INDIA and Jet Airways are likely to be levied fines initially and then a ban on entry into European airports by the European Commission if they didn’t comply with the new EU regulation to disclose emission data. The EC is also contemplating barring 10 Chinese carriers for carbon-dioxide emissions from the ten carriers’ said to be equivalent to burning about 130 rail cars
of coal.
The Indian carriers are accused of not providing emissions data and not participating in a permit system that entitles airlines to emit greenhouse gases in European airspace.  The Commission said two Indian airliners faced total fines of 30,000 euros (about Rs 25.20 lakh). No airline has been fined as yet for violating the permit system.

“It’s totally unexpected,” said Director General of Civil Aviation Arun Mishra. He has gone record to say that the EU had agreed to suspend the emission trading scheme with all International Civil Aviation Organisations stake holders and to work towards a global, market- driven system.

EU’s emission trading system is being strongly opposed by US and lots of other countries including Russia, China and India. The emissions issue is not a bilateral issue between airlines and government but a government to government issue.

Air Asia names Chandilya as CEO

MALAYSIA-based Air Asia Venture in India in which the Tatas have a stake, has got the approval from the government to operate in Indian skies. As a first step, the airline has appointed Mittu Chandilya as CEO for Indian operations.

“Chandilya is coming home to India to change aviation history and make air travel entirely affordable to the population,” said Tony Fernandez,  Founder -CEO of the parent Air Asia Bhd.

The Indian government cleared Air Asia’s proposal to invest Rs 80.98 crore in the domestic passenger airline. AirAsia will hold 49 per cent equity stake in the Indian venture, Tata Sons 30 per cent and the rest by Arun Bhatia of Telestra Tradeplace Pvt Ltd.

A native of Chennai, Chandilya grew up in India, Africa and USA and holds degrees is business and economics from Leihigh University besides a MBA from INSEAD.  Air Asia plans to launch operations by December 2013, head - quartered in Chennai.

Suzuki drawn upon Maruti’s expertise...

Japanese automobile manufacturer Suzuki reigns supreme as the No 1 car manufacturer in terms of sales. But the company is lagging behind in the motorcycle segment. Suzuki plans to move personnel from Maruti Suzuki India Ltd to key roles in the department of production, supply and human resources at Suzuki Motorcycle Pvt Ltd. It’s also planning to create a new business segment at Maruti.

The move is expected to give Maruti a much bigger say in Suzuki’s two wheeler business. The Japanese company has a 30 per cent share of the Indian passenger car market, but its two wheeler subsidiary, which parted ways with its Indian partner TVS some 12 years ago, is still struggling to establish a meaningful market share. In the fiscal year ended 31 March, 2013, Suzuki had just managed to corner a 3 per cent market share of the near 14 million two wheelers that were sold  in the country.

CavinKare looks for turnaround

CAVINKARE, which once threatened to give consumer goods giant Hindustan Unilever a run for its money, is now looking for funds infusion to regain its hold in the market which it had lost somehow on the way following years of under diversification into investment and milk and dairy products.
Taking the lead for the Chennai-based company is one of the three brothers C K Ranganathan, who is looking at divesting 10 per cent of the company’s equity to raise about Rs 350 crore for rebranding the company and moving its market share aggressively. That means valuing the company’s worth at a whopping Rs 3500 crore!
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