8OCTOBER, 2024India's aviation sector will require more than $170 billion by 2030 to support record aircraft orders and expand airport capacity in response to a booming surge in air traffic, according to a report by S&P Global Ratings. As one of the world's fastest-growing aviation markets, domestic passenger traffic in India is expected to double to 300 million by 2030, based on government projections. In addition, international flights could see traffic more than double, according to estimates from CAPA India, an aviation research group. Indian airlines have placed record aircraft orders with Airbus and Boeing, and the government aims to double the number of airports by 2030.With the ambition of creating global aviation hubs comparable to Singapore, Dubai, and Doha, S&P Global Ratings predicts Indian carriers will need to invest $150 billion to finance orders for 1,700 aircraft and a further $24 billion to build new airports and upgrade existing infrastructure.S&P Global analysts noted that the current environment is favorable for borrowing, citing the rise in passenger traffic, relatively lower domestic financing rates, and supportive government policies on foreign ownership, all of which should enhance funding opportunities for the sector. TOP STORIESRIL & DISNEY+ MERGER TRANSACTION TO CONCLUDE IN Q3 FY25The merger between Reliance Industries Limited (RIL)-owned Viacom18 and Walt Disney's Star India is expected to be finalized by the third quarter of the current financial year, pending additional regulatory approvals, as per a regulatory filing by RIL.Viacom18 and Star India have already secured conditional approval from the Competition Commission of India (CCI) for the merger, though the CCI has not yet issued its detailed order. Furthermore, the Mumbai bench of the National Company Law Tribunal (NCLT) has approved the scheme of arrangement between the two companies. Other necessary approvals are still being processed, with the closure of the transaction expected by Q3 FY25.This merger follows a binding agreement signed on February 28th between RIL and The Walt Disney Company to create a joint venture, merging the operations of Viacom18 and Star India. RIL is set to invest Rs 11,500 crore in the joint venture, which is valued at Rs 70,352 crore post-money, excluding synergies.At RIL's annual general meeting in August, Mukesh Ambani, Chairman of RIL, highlighted that this partnership with Disney marks the beginning of a transformative phase for India's entertainment sector. He emphasized the "digital-first" strategy, aiming to deliver high-quality content at affordable prices, catering to diverse consumer tastes and providing world-class digital entertainment. GOVERNMENT SEEKING TO DOUBLE AIRPORTS QUANTITY BY 2030
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