Latest news with #MIAL
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Business Standard
2 days ago
- Business
- Business Standard
Air India A320neo skids off Mumbai runway; all passengers disembark safely
An Air India A320neo skidded off the primary runway at Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA) while landing on Monday morning. The aircraft veered briefly into an unpaved area, returned to the taxiway, and safely reached the gate. All passengers and crew disembarked without injury, and the aircraft has been grounded for inspection. As the incident caused minor damage to the primary runway, the Mumbai International Airport Limited (MIAL)—which manages and operates the airport—activated the secondary runway to ensure uninterrupted operations. Industry sources said the aircraft operating flight AI2744 from Kochi encountered the runway excursion amid heavy rain in Mumbai. Flight diverted to taxiway after brief off-runway movement A spokesperson for MIAL, led by the Adani Group, confirmed the incident occurred at 09:27 hours. 'An incoming aircraft from Kochi experienced a runway excursion at CSMIA. The airport's emergency response teams were immediately activated to manage the situation. All passengers and crew are safe,' the spokesperson said. 'There are minor damages reported to the airport's primary runway – 09/27. In order to ensure continuity of operations, the secondary runway – 14/32 – has been activated. At CSMIA, safety always remains our highest priority,' the spokesperson added. CSMIA activates backup amid peak operations CSMIA is the busiest airport in India in terms of the number of flights handled on a single runway per hour. According to aviation analytics firm Cirium, the airport is handling approximately 3,004 flights per week this month. After IndiGo, Air India is the second-largest airline at CSMIA, operating 836 weekly services. Incident follows deadly AI171 crash last month Monday's incident follows just weeks after the June 12 crash of Air India flight AI171, a Boeing 787-8 aircraft (VT-ANB), which killed 241 of the 242 people on board. The preliminary report released by India's Aircraft Accident Investigation Bureau (AAIB) on July 12 revealed that fuel supply to both engines was cut off shortly after take-off, causing a dual engine flameout. Though the fuel switches were turned back on approximately 10 seconds later, it was too late to restart the engines. The report stated that the role of technical faults had not been ruled out and did not assign blame. Amid growing scrutiny, especially after recent international media coverage, AAIB Director General GVG Yugandhar on July 17 called such reports 'unfounded' and 'premature'. He said some foreign publications were drawing conclusions through 'selective and unverified reporting' while the investigation was still ongoing. 'It is too early to reach any definite conclusions,' he said, noting that aviation medicine and psychology experts were also involved. The final report will be released once the investigation concludes.
Time of India
16-07-2025
- Business
- Time of India
ICICI Bank challenges MIAL's Rs 3,240 crore rights issue over contractual violations
Mumbai: ICICI Bank has challenged the proposed rights issue of Mumbai International Airport (MIAL) on the grounds that it violates prior contractual agreements and risks diluting lenders' interests, said people with knowledge of the matter. The bank's contention is that the rights issue will dilute the value of shares pledged against loans worth $1.25 billion that had been given to the GVK Group , which used to own MIAL. The Adani Group took over MIAL from GVK in 2021. ICICI Bank, acting through its Bahrain branch as facility agent for a consortium of lenders, has filed a suit in the Bombay High Court seeking to restrain MIAL from proceeding with the ₹3,240 crore rights issue, according to a copy of the petition filed by the bank early this month and reviewed by ET. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Agencies The bank alleged that the issue breaches the terms of an interim solution undertaking (ISU) and a share pledge agreement signed in 2017, which prohibit any dilution of pledged equity without the lender's consent. The matter is scheduled for hearing on July 21 before justice RI Chagla. ICICI Bank, GVK and Adani did not respond to ET's queries. The dispute stems from two loan facilities extended to GVK Coal Developers (Singapore). The first, amounting to $1 billion, was provided in September 2011. The second, of $250 million, was in March 2014, the petition stated. Bank of Baroda , Bank of India , Indian Overseas Bank and Canara Bank are among the other lenders involved. Live Events These loans were secured by a pledge of 32% equity in GVK Airport Holdings (GVKAHL), representing a 16.16% indirect stake in MIAL. GVKAHL holds a 50.5% stake in MIAL, Adani Airport Holdings holds 23.5%, and the Airports Authority of India has 26%. The rights issue is being offered in a 27:10 ratio. GVKAHL is now part of the Adani Group. ICICI Bank contends that the proposed rights issue would reduce this pledged stake to about 4.37%, undermining the security provided under the loan agreements. The rights issue, approved by MIAL's board on June 12, offers 3.24 billion equity shares at `10 each to existing shareholders. ICICI Bank says that GVKAHL informed the bank of its decision not to subscribe to issue just five days before what was to have been the offer's closing date of July 5, citing lack of funds. The bank alleges this delay was deliberate and prejudicial to the lenders' interests. The bank also raised concerns that the issue price of Rs 10 per share does not reflect fair market value and is instead the minimum permissible price. MIAL is not listed. Senior counsel Venkatesh Dhond and Siddharth Ranade, partner of law firm Trilegal, are representing lenders. Senior advocate Vikram Nankani and law firm Rashmikant and Partners are representing some respondents. The ownership structure of MIAL changed in 2021, when Adani Airport Holdings, a unit of Adani Enterprises, bought 97.97% of GVK Airport Developers, parent of GVKAHL. The bank has sought a permanent injunction against the rights issue and interim relief to prevent any share allotment or action that could affect the pledged equity, the petition stated. It has also asked that any subscription received for the rights issue should be kept in a separate account until the matter is resolved, it added.
Time of India
15-07-2025
- Business
- Time of India
HC dismisses AI staff appeals against eviction from Kalina
Mumbai: Bombay High Court on Tuesday dismissed appeals filed by Shilpi Minz and other Air India staffers against their eviction from the AI staff colony in Kalina, Santacruz East. HC, though, continued a stay on their eviction for another six weeks to enable them to appeal to Supreme Court. The staffers and AI, following its privatisation, were locked in a legal battle over eviction from their staff quarters. The employees, in their appeals against Mumbai International Airport Ltd (MIAL) and others, said there were five broad grounds in their favour. The single-judge bench of Justice Sharmila Deshmukh, in her judgment, said the land belonged to Airport Authority of India (AAI) and, "As the lands leased to Air India Ltd constitute airport premises, the buildings cannot be divorced from the leased lands to constitute public premises by applying the concept of dual ownership post disinvestment," She added, "Once the residential accommodations are held to be airport premises, it is the AAI Act which would be applicable and not the PPE (Public Premises Eviction) Act. " You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Following earlier HC orders giving staffers time until Sept 24, 2022, after housing accommodation by AI to staff was withdrawn, the HC noted that of 1,683 flats located in 106 buildings, 216 flats remain occupied. Upon disinvestment, no right remained to continue to occupy the residential accommodation, the HC said. The HC also held that leasehold rights in the housing colony lands were transferred to MIAL upon the disinvestment of Air India Ltd. Through advocates Mihir Desai, Ashok Shetty, and Rita Joshi, they argued the right to retain their quarters was pending before the SC. Besides, AI and the Centre suggested the PPE Act would apply and MIAL or AAI cannot invoke eviction action as the AAI Act doesn't apply. The staffers are from AI, Air India Engineering Services Ltd, and AI Airport Services Ltd. The colony is maintained by Air India Staff Colony Associations, which the staffers said are in possession of the staff colonies entrusted to them by Air India. After hearing senior counsel Vikram Nankani for MIAL and Shilpa Kapil for AAI, who said the eviction order under the law is justified, the HC dismissed the appeal. The HC said, "No right in the housing colonies' lands or the housing colonies remained with Air India Ltd upon disinvestment and no such right can be claimed by its employees." The HC also said proceedings pending before the SC can't be a ground to stay the eviction proceedings, especially when the apex court did not interfere with the institution of eviction proceedings.
Indian Express
15-07-2025
- Business
- Indian Express
Bombay HC dismisses appeals against eviction from Air India Colony, stays order by 6 weeks
The Bombay High Court on Tuesday dismissed appeals filed by staff members residing at Air India Colony at Kalina, Santacruz, challenging eviction order. On request by appellants, the HC stayed operation of its verdict for six weeks to enable them to approach the Supreme Court to challenge the same. The colony, spread over 184 acres, houses 350 families employed with the airline who are against the handover. As part of its expansion plan, the Mumbai International Airport Limited (MIAL), controlled by Adani Airport Holdings Limited, initiated the demolition of 19 vacant buildings at the Air India Colony amid protests by Air India employees. In February 2024, the HC rejected a plea by Air India Staff Colony Association, which alleged that the demolition action was illegal. The land on which the colony was built was owned by the state government and was leased to the Airports Authority of India (AAI), which had given the land to Air India. A single-judge bench of Justice Sharmila U Deshmukh passed a verdict on group of pleas challenging the August 26, 2024, final order of eviction officer appointed under section 28B of AAI Act, 1984, that ordered handing over of the possession of respective flats situated in the Air India Housing Colony in Kalina area. The eviction officer had passed the decision on MIAL's application seeking initiation of eviction proceedings against the respondent employees of Air India Limited as unauthorised occupant of airport premises. The said decision noted that Air India employees did not have the right, title and interest in the building, the employees had no right to continue to occupy the premises, therefore they were required to be evicted. In September 2024, senior advocate Vikram Nankani for MIAL made a statement that pending disposal of appeals, the eviction orders will not be implemented except in case of retired employees. Senior advocate Mihir Desai for the appellants argued that their leave and licence agreements were not yet terminated as per law. He added that as the subject area was not airport premises, it did not fall under the said category of AAI Act. However, Nankani for MIAL denied the appellants' claims. Justice Deshmukh held that the lands on which housing colonies are located are owned by AAI and constitute airport premises under the AAI Act. The HC further noted that the lease hold rights in the colony lands were transferred to MIAL on disinvestment of Air India Ltd. 'As the housing colonies constructed on the airport land yield to the lessor on disinvestment, the same constitutes airport premises. In any event, Air India Asset Holding Company Limited (AIAHCL) has handed over the possession of the housing colonies to MIAL,' the bench added. The judge further noted that 'the housing accommodation facility advanced by Air India Ltd to its employees stood withdrawn and leave and license stood terminated' and the time was given by HC to vacate the premises by September 24, 2022. 'No right in the housing colonies lands or the housing colonies remained with Air India Ltd upon disinvestment and no such right can be claimed by its employees,' the bench said. The court further stated that as the subject lands and housing colonies form airport premises, the AAI Act will be applicable to them instead of Public Premises (Eviction of Unauthorised Occupants) Act.
Time of India
12-07-2025
- Business
- Time of India
BAOA raises alarm over airport's decision to halt jet parking, ET Infra
Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. Mumbai, Business Aircraft Operators Association has sought the civil aviation ministry's intervention to reverse Mumbai airport's decision to evict private jet operators from the airport's parking facilities by July 31, saying the proposed terms are International Airport Ltd (MIAL), part of Adani group, is operating the Chhatrapati Shivaji Maharaj International Airport (CSMIA) in the a letter to Civil Aviation Secretary Samir Kumar Sinha, BAOA's Managing Director R K Bali said CSMIA is a public asset and public assets should be available to all stakeholders in a fair and equitable manner without any discrimination."The terms now sought to be imposed by MIAL upon the GA/BA operators are prohibitive and make the entire operation unviable and are intended to oust the GA/BA operators from the asset. Accordingly, it is crucial for MoCA to intervene and uphold legal and policy safeguards for the GA/BA sector in India," the represents various General Aviation and Business Aviation (GA/BA) operators, including Hindalco Industries, Reliance Commercial Dealers Ltd., Reliance Transport & Travels, Taj Air, JSW Steel, Grasim Industries, Futura Travels and Larsen & the ministry's intervention on the parking facilities issue, BAOA said the directions issued regarding the eviction of GA/BA operators from Mumbai airport's parking facilities by July 31 should be cancelled or suspended till the time there is a decision on alternative space allocation for the grouping also mentioned that given commonality of ownership and proximity of both CSMIA and NMIA (Navi Mumbai International Airport) within the metropolitan region, a coordinated management of GA/BA traffic should have been operationally and commercially holds a 74 per cent stake in NMIAL (Navi Mumbai International Airport Ltd), the operator of the upcoming airport."As of today, GA/BA operators are already facing difficulties and uncertainties in carrying out their operations due to the non-cooperative conduct of MIAL and NMIAL. It is evident from the above that the GA/BA operators are facing an imminent threat of eviction from their parking spaces w.e.f. 31.07.2025 which they have been using for several years and there is no alternate phased relocation at the moment either at CSMIA or NMIA," the letter said.>
