IndiGo signs pact with BIAL to develop new MRO facility at Bengaluru
Domestic carrier IndiGo on Friday said it has inked an initial pact with Bangalore International Airport Ltd (BIAL) to set up a maintenance, repair and overhaul (MRO) facility at the Bangalore International Airport.
Under the agreement, BIAL will allocate about 31 acres to IndiGo for development of MRO infrastructure to support the airline's expanding fleet, it said in a statement.
The facility will be equipped to handle both narrow-body and wide-body aircraft, further strengthening IndiGo's maintenance capabilities and operational presence at the Bengaluru Airport.
"Developing broad IndiGo MRO capabilities marks a significant and very strategic step for IndiGo. Partnering with BIAL underlines our shared commitment to drive long-term growth of the aviation ecosystem in Bengaluru", IndiGo Chief Executive Officer Pieter Elbers said.
Together with BIAL, IndiGo is further shaping the future of Indian aviation by focusing on innovation, growth and global connectivity that will define India's leadership in the skies, he added.
"We see this collaboration as a pivotal step towards building a significant global presence for IndiGo, as well as for India," he added.
"We have had a very successful, long-term relationship with IndiGo and this collaboration further strengthens our association with the airline. This is a strong validation of the growth potential of Bangalore Airport and the city as a premier aviation hub," BIAL MD and CEO Hari Marar said.
We extend our sincere gratitude to the Government of Karnataka for their continued support in making this collaboration possible and enabling us to drive forward the next phase of aviation-led growth for the region, he said.
The initial pact also outlines broader collaboration in areas, including network expansion, infrastructure development, and joint marketing initiatives.
This partnership reflects the strategic intent of both organisations to enhance aviation infrastructure and position Bengaluru as a key hub for domestic and international operations for passenger and air cargo, as per the statement.
With more than 400 aircraft in its fleet, a dedicated MRO facility will give a significant advantage in terms of aircraft availability, greater cost efficiencies and quicker turnaround benefiting the airline and its customers, IndiGo said.
Further, the development of the MRO facility will help strengthen the aerospace and defence ecosystem in Karnataka, it added.
IndiGo already has one MRO facility each in Delhi and Bengaluru.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
an hour ago
- Economic Times
How much money the Boston-based Indian couple had to pay to turn Wall Street into a dance floor for their wedding
The Couple Behind the Celebration Music, Magic, and Manhattan Two Traditions, One Celebration You Might Also Like: Wall Street turned into a dance floor for this unbelievable Indian wedding. Who are the bride and groom? Permits, Police, and Precision In an event that stopped both traffic and timelines, Varun Navani and Amanda Soll brought the grandeur of a big fat Indian wedding to the heart of New York City. With a traditional baraat—the groom's wedding procession—cascading down Wall Street, the couple quite literally shut down the most iconic financial street in the it didn't come easy. The couple reportedly filed 28 permits to make their dream celebration possible, shelling out an eye-watering $25,000 to $66,000 (₹21 lakh to ₹56 lakh) per location, as per city records reviewed by the New York Post. That's not a wedding budget—it's a Wall Street-grade who are these headline-makers? Varun Navani is the CEO of Rolai, an AI platform helping people learn data science and machine learning. A Forbes 30 Under 30 alumnus (Boston, 2023), he brings innovation to the tech space. His bride, Amanda Soll, is no less accomplished—she serves as the Director of Legal Compliance and Risk Management at from Boston, the couple chose New York City as their wedding stage—and spared no expense turning it into a multi-day celebration began on May 23 at the Conrad Hotel with a welcome brunch and tea. That evening, guests gathered at The Glasshouse for a lively sangeet, filled with song and the real showstopper arrived on May 24, when Wall Street transformed into a dazzling baraat route. Videos now viral on social media show more than 400 guests dressed in traditional Indian attire dancing to the beats of dhols and DJ sets. Groom Varun arrived in a vintage white car, clad in a finely tailored ivory sherwani and layered pearl necklaces. Amanda stunned in a deep red Sabyasachi lehenga, epitomizing elegance and baraat ended at Cipriani Wall Street, where the grand reception unfolded—running from 5:30 p.m. until the early morning cultural fusion didn't end with the baraat. On May 25, the couple hosted a Jewish wedding ceremony at Cipriani, paying tribute to Amanda's heritage. An after-party followed at Slate, keeping the festive energy alive until 4 a.m. The final farewell came on May 26 with a goodbye detail—from venue choices to guest experiences—was thoughtfully curated to blend Indian and Jewish customs in a dazzling off a 400-person event in the middle of Lower Manhattan isn't simple. The city labeled it an 'extra-large' event, requiring extensive NYPD coordination and full block closures. The price tag—ranging between $25,000 and $66,000 (₹21–56 lakh) per permit—reflects the scale and ambition of the far from celebrity status or royalty, Varun and Amanda are a reminder that modern professionals, too, can pull off events that feel straight out of a Bollywood fantasy—if they're willing to plan and pay a city known for deals, deadlines, and data, the Navani-Soll wedding gave Wall Street a rare glimpse of uninhibited joy. For a few magical hours, the financial capital of the world grooved to dhols, draped itself in dupattas, and welcomed tradition with open was a dazzling display of culture and ambition, as Varun Navani and Amanda Soll turned New York's Wall Street into a vibrant celebration of love. With 28 permits, meticulous planning, and a lavish budget, the couple blended Indian and Jewish traditions across a multi-day wedding spectacle. Their grand baraat wasn't just a procession—it was a statement that even the busiest street can pause for joy.


Economic Times
2 hours ago
- Economic Times
Banks park big money with 'rival' mutual funds
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Much of the debate in the banking industry in 2024 revolved around why the deposits growth was extremely muted in relation to the growth in credit. Some blamed it on mutual funds, some on gold and others on derivatives trading by individuals. But the truth was a lot more 2025, Indian financial markets are seeing something that they don't see often. Banks, which, forever, used to seek deposits or borrow from the market to lend are doing something strange: they are pouring funds into mutual funds which, partly, compete with them for a share of the investor's mutual fund investments jumped 91% on year to ₹1.19 lakh crore as on March 21, 2025, from ₹62,499 crore a year earlier, data from the Reserve Bank of India (RBI) bulletin showed. Banks' MF investments had grown 28% in the previous fundamental business of banks is to lend to individuals who are keen to buy homes and cars, or to those entrepreneurs and companies which are looking to put up plants or set up services business. But they seem to be keen on giving funds to MFs instead of directly lending to borrowers. Why is it?There may be two reasons for that-one, that there is not much demand for loans from banks, and second, that they are suddenly finding themselves with surplus funds because of what the monetary authorities are doing."Besides suboptimal credit growth, bank investments in mutual funds schemes have gone up due to surplus liquidity conditions, favourable market conditions and relatively faster execution," said Vinod AN, general manager and treasury head at South Indian Bank Banks loans grew 12.1% in FY25, down from 16.3% a year earlier. This is probably due to slowing income growth and uncertainties on the jobs front for many. This situation is the opposite of what was the situation in the year before when loans grew 16.3%, and deposits were at 12.9% growth. This led to a lot of debate about whether there is a behavioural shift in savers."Households and consumers who traditionally leaned on banks for parking or investing their savings are increasingly turning to capital markets and other financial intermediaries," said former RBI governor Shaktikanta Das. "While bank deposits continue to remain dominant as a percentage of financial assets owned by households, their share has been declining. Households are turning to other avenues for deploying their savings instead of banks." While individual behaviour was part of the problem, there was also a monetary phenomenon at work. The RBI, which wanted to tame inflation kept the monetary conditions tight, forcing banks to borrow from it or the market. But that has since changed to accommodative from banking system is in surplus at ₹1.5 lakh crore. Banks probably have more than what they need to meet the loans are parking excess funds with MFs. Are they buying shares? Or, are they doing SIPs? Neither. They know that this is a short-term issue. They are also doing something to earn higher short-term returns. "Most investments are in liquid and money market schemes, which is also reflected in the MF investment numbers where investments are in zero risk short-term debt instruments such as T-bills where returns are higher," said Venkat N Chalasani, CEO, Association of Mutual Funds in India (AMFI).


Time of India
2 hours ago
- Time of India
'Sitaare Zameen Par' makers shares his opinion on marching of tech in cinema
Director R.S. Prasanna, who is awaiting the release of his upcoming film 'Sitaare Zameen Par', feels that human beings will soon catch up with the technological changes in filmmaking. The filmmaker spoke with IANS in the run-up to the release of his film, which features Bollywood superstar Aamir Khan and Genelia Deshmukh. He recollected how he saw Indian cinema legend Kamal Haasan experimenting with a digital camera, Red Dragon. Speaking with IANS, Prasanna said, "I think the industry is pretty fast in adapting, like I remember when 35mm film was there and I was in film school and Kamal Haasan sir was testing the Red camera in our L.V. Prasad Film Institute, Chennai where I studied. He was doing a test shoot. I remember all the people around saying, 'it's just a fad and it'll not happen, it's not gonna happen', and it did". Aamir Khan's altered AI video hits cyberspace; 'Mr Perfectionist' issues clarification on 'endorsing' a particular political party The director said that one cannot stop the march of technology and one has to adapt. The audience will demand a change, the filmmakers will rise, the technological change will happen as it should, and experiments will keep happening, some will click, some will not. He further mentioned, "But I think one thing which will never change is the way our hearts beat, so as long as the heart is there in everything, the visual is only pixels, the sound is only decibels, but that feeling, that soul, that is, as long as we have a heart, stories told by humans will always be relevant". He then cited the example of romance as to how the shape or form of romance in cinematic storytelling has changed but the soul is the same. He shared, "If you see around yourself, romance has been there from early manage, they may say romance has changed, no romance has not changed, the medium has changed, today you call it situationship or anything else but, still the heart pains if you don't get to be with the person of your choice". "I feel unless genetically our heart changes or our mind changes, I think storytelling and emotions will be the same, the form will keep changing and we have to be on the awareness of that as a director, but I think for me as a filmmaker, I'm only looking for the soul, which I think soul is very old, so it won't change that fast", he added. Produced by Aamir Khan under his banner, Aamir Khan Productions, 'Sitaare Zameen Par' is set to release in cinemas on June 20, 2025. Check out our list of the latest Hindi , English , Tamil , Telugu , Malayalam , and Kannada movies . Don't miss our picks for the best Hindi movies , best Tamil movies, and best Telugu films .