Air India begins widebody aircraft upgrades, speeds retrofits programme of narrowbody fleet
Air India has initiated a comprehensive widebody retrofit program for its legacy Boeing 787-8 fleet, starting with the first aircraft sent to Victorville, California, in July 2025. This USD 400 million project aims to modernize interiors with new seating, IFE systems, and amenities across three classes.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
14 minutes ago
- Business Standard
L&T Energy, Japan's ITOCHU to develop green ammonia project in Gujarat
Homegrown L&T Energy GreenTech Ltd and Japan-based ITOCHU Corporation have joined hands to develop a green ammonia project of 300 kilo tonne per annum (KTPA) capacity in Gujarat, to target opportunities in the maritime sector. The project will come up over a land parcel acquired by parent Larsen & Toubro (L&T) at Kandla in Gujarat last year, L&T Energy GreenTech Ltd (LTEG) said in a statement on Wednesday. As per the statement, LTEG has entered into a Joint Development Agreement with ITOCHU Corporation of Japan to develop and commercialise a 300 KTPA green ammonia project at Kandla in Gujarat. "The latest collaboration supports LTEG's strategic vision to establish a presence across the green energy value chain and complements ITOCHU's initiatives to introduce low-carbon ammonia as a zero-emission marine fuel," LTEG said. Under the agreement, LTEG and ITOCHU will collaborate on the development of the green ammonia facility, with ITOCHU planning to offtake the product for bunkering applications in Singapore, it said. "The partnership with ITOCHU reflects L&T's larger vision of enabling a cleaner, greener future through sustainable business focus," Subramanian Sarma, Deputy Managing Director & President, L&T, said. A wholly-owned subsidiary of the USD 30 billion Larsen & Toubro (L&T), L&T Energy GreenTech Ltd (LTEG) is committed to delivering sustainable energy solutions across the green hydrogen value chain. The company offers integrated solutions through advanced technology, strategic partnerships, and dedicated R&D.
Economic Times
14 minutes ago
- Economic Times
Samvardhana Motherson sees no material impact from US tariffs
Synopsis Samvardhana Motherson International anticipates minimal impact from US tariffs. Exports from India to the US were low in Q1 FY26. Most contracts are ex-works, shifting costs to customers. The company is exploring alternative supply chains. A large portion of sales already comply with USMCA. Discussions are ongoing to pass on costs for non-compliant products. THE ECONOMIC TIMES Samvardhana Motherson Samvardhana Motherson International Ltd (SAMIL) has said the recently announced US tariffs on imports from India don't have a material impact on its operations. According to the company's latest investor presentation, exports from India to the US stood at less than USD 10 million in the first quarter of company explained that most of its external contracts are structured on an ex-works basis, under which customers bear the shipping and import costs. For the smaller portion of contracts where this is not the case, Motherson is implementing mitigation measures, including exploring alternative supply chain solutions.A large part of the company's sales to US customers already comply with the US-Mexico-Canada Agreement (USMCA), shielding them from the new tariff regime. For non-USMCA compliant products, discussions are underway with customers to pass on the additional costs, though this process is expected to involve some time its Q1 FY26 results, Motherson reported consolidated revenues of ₹30,212 crore, compared with ₹28,868 crore in the same quarter last year. However, EBITDA margins slipped to 8.2% from 9.6%, which the company attributed to structural challenges in Europe, foreign exchange volatility, and start-up costs related to new of the auto components manufacturer recovered from early losses to rise as much as 4.45% on Wednesday, August 13, after management reassured investors in its post-earnings statement that the tariffs imposed by the Donald Trump administration would not significantly affect its operations. 'While uncertainties in the business environment persist, it also offers inorganic opportunities for growth,' said Vivek Chaand Sehgal, Chairman of Motherson.
Economic Times
14 minutes ago
- Economic Times
Samvardhana Motherson International Q1 results: Cons PAT falls 40% YoY at Rs 871 crore, revenue rises 3%
Samvardhana Motherson International posted its first quarter results for FY26, reporting a 39.7% year-on-year (YoY) decline in its consolidated profit after tax (PAT) at Rs 871.84 crore, versus Rs 1,445.20 crore in Q1FY25. The revenue from operations for the quarter, however, witnessed a 3% YoY rise. ADVERTISEMENT The total revenue from operations for the company stood at Rs 30,212 crore, increasing from Rs 29,316.83 crore in the same quarter last year. Further, Samvardhana Motherson reported an EBITDA of Rs 2,466 crore in Q1 FY26, down from Rs 2,785 crore in Q1 FY25. This translated to an EBITDA margin of 8.2%, compared to 9.6% in the same quarter last year. The decline was attributed to structural issues in Western and Central Europe, a timing lag in tariff-related pass-through of costs, and greenfield-related start-up expenses, particularly in its non-automotive businesses. Additionally, early-stage integration adjustments for certain newly acquired assets also impacted its investor presentation, Samvardhana Motherson clarified that there is no material impact on the company from the recently imposed US tariffs on company noted that exports from India to the US accounted for less than USD 10 million in Q1 FY26, minimizing exposure. Most external contracts are structured as ex-works, and for the remainder, mitigation measures such as alternative supply chain solutions are being implemented. ADVERTISEMENT Motherson highlighted its strong positioning to navigate tariff headwinds through its globally local presence, operational excellence, and long-standing customer relationships. The company stated that the majority of its sales to US customers are USMCA-compliant, supported by ongoing localization initiatives. For non-USMCA-compliant parts, agreements are in place with customers to pass on related costs, alongside efforts to develop new supply chain solutions. Unlock 500+ Stock Recos on App Samvardhana Motherson reported that global automotive production continued to face pressure in developed markets during Q1 FY26, with notable regional variations in performance. ADVERTISEMENT On a global scale, light vehicle production rose by 2% year-on-year, while commercial vehicle production remained flat. In Europe, light vehicle output fell by 4% and commercial vehicle production declined by 1%. North America also saw a 4% drop in light vehicles, accompanied by a steep 29% contraction in commercial vehicles, which the company attributed to cyclical recorded a 4% increase in light vehicle production and a modest 1% rise in commercial vehicles. In contrast, China posted stronger growth, with light vehicle production up 9% and commercial vehicles surging by 17%. ADVERTISEMENT Production volumes for global light vehicles stood at 22.5 million units, while global commercial vehicle production reached 856,000 units for the quarter. Revenue outpaced the Industry, contributed by well-executed M&As and resilient organic business. Transitory Impact on Profitability – measures already underway to mitigate the industry challenges in close collaboration with our customers. Three Greenfields operationalised during the quarter; the remaining 11 are at different stages of completion. 2 New Strategic Partnerships announced in line with the increase in content per car strategy. Comfortable Leverage ratio of 1.1x enabling both organic and inorganic growth opportunities. The company's results were announced during market hours, after which, the stock was trading 3% higher at Rs 93.06 on the BSE ADVERTISEMENT Also read: Paytm shares surge 5% to 52-week high as RBI grants payment aggregator licence to subsidiary (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times (You can now subscribe to our ETMarkets WhatsApp channel)
