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News Round Up: SpiceJet Appoints New CEO, Kingfisher Slashes Salaries

20 October, 2008

JSW Gets Debt Of Rs 3,000 Crore

Jindal South West Group has raised debt funds of Rs 3000 crore to set up a new greenfield project planned by the subsidiary Jindal Aluminium. The funds for the refinery have been sanctioned by a consortium of 15 banks in India, led by ICICI Bank. 

 

Four Planned Ventures May Get Affected: BHEL

Bharat Heavy Electricals Ltd (BHEL) has expressed fears on raising funds to buy equity in projects owing to the ongoing financial crunch. It had planned to set up these projects through use of a super-critical technology in partnerships with governments of Gujarat, Tamil Nadu, Andhra Pradesh and Karnataka. 

 

Nilekani Will Head Govt Panel On Pension Plans

In order to review the plans of pension regulator (PFRDA) to extend a pension package to the private sector, government has set up an expert panel headed by Nandan Nilekani, co-chairman of Infosys Technologies. The panel has been asked to submit a report by this month end and may also suggest improvements to the existing New Pension System. 

 

Kingfisher Slashes Salaries Of Trainee Pilots

Kingfisher Airlines has slashed salaries of its 50 trainee co-pilots as part if its plans to overcome financial troubles in the aviation sector. It confirmed that it does not have any plans to retrench any of them or any other employee, and all other emoluments would also remain the same.  

 

Tree Line Asia Master Fund (Singapore) Acquires 8% Stake In Mount Everest

The Singapore based fund has picked up a stake of about 8% in Mount Everest Mineral Water in open market transactions, for about Rs 22 crore. Tata Tea had acquired Mount Everest in 2001.  

 

Spicejet Gets New CEO And COO

The airline has Mr. Sanjay Aggarwal, who is currently the COO and Chief Strategy Officer of Flight Options as the new CEO. Flight Options is a leading private jet aviation provider which operates 120 aircraft and is based in Cleveland, Ohio, USA.

 


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News Round Up: SpiceJet Appoints New CEO, Kingfisher Slashes Salaries

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