Press Review by Luca Monterastelli & Varun Vetri Rajagopalan, Nov. 21-27, 2022

Respectively by Mr. Luca Monterastelli & Mr. Varun Vetri Rajagopalan

ESA’s budget

On November 22 in Paris the European Space Agency announced its budget for the period 2023-2025. A budget in strong increase of 17% reaching the 17 billion euros, even if lower than the expectations hoped by the agency, this budget remains historic.

The willingness of the French president to invest more in space is reflected in a significant increase in its efforts. Indeed, if France remains the second contributor behind Germany (3.5 billion), the French contribution amounts to 3.2 billion euros, up 20%.

The French investments are strategic, they aim to strengthen Ariane Group by financing Ariane 6 to 520 million euros, try to catch up with the Americans with the first stage reusable Themis (first flight expected in 2023/2024), if successful the Maia space project can be launched to develop mini reusable launchers, the low-cost engine Prometheus also benefits from a substantial investment more Paris continues to invest more in exploration.

By financing 19% of the total budget, France shows that it wants to weigh in on future debates and that space remains a priority

Source:

https://www.latribune.fr/entreprises-finance/industrie/aeronautique-defense/budget-esa-2023-2025-les-choix-programmatiques-de-la-france-941970.html

Expansion of Indian Airlines

Air India’s gradual but significant expansion

Air India, a member of Star Alliance, on Tuesday the 23rd November of 2022 announced that they would be expanding their global footprint with the launch of new flights connecting more destinations and returning former routes, this comes as the airline continues to make progress in augmenting its fleet with newly-leased aircraft, and the return of existing aircraft to active service. This appears to be due to a roadmap called ‘Vihaan. AI’ which is a five-year plan with clear milestones, developing a completely revamped customer proposition, improving reliability and on-time performance. The expansion will come into effect in February 14, 2023.  

Commenting on this expansion, Mr. Campbell Wilson, CEO and MD, Air India said “A key element of our five-year transformation plan, Vihaan.AI, is to strengthen India’s global network, connecting India’s major cities with even more destinations, The introduction of these new non-stop flights to New York, Milan, Vienna, Copenhagen, Paris and Frankfurt, is another step in that journey, which will accelerate as our aircraft fleet expands. We look forward to welcoming guests and sharing Air India’s warm Indian hospitality with them.”

This article further expands on the company Tata and their history with Air India. It appears that they are keeping their promises gradually expanding and will be taking a leadership position in technology, sustainability and innovation, while aggressively investing in the best industry talent.

From being a company to a government owned entity which ultimately failed because of the tremendous loss the government faced, Air India has been observed to be hit ‘rock bottom’ even recalling some of their technicians from retirement due to a lack of workforce and people unwilling to work for meagre salaries. The airline was sold back to the Tata group when the airline had a debt of Rs 61,562 crores (7.5 billion dollars) of which the Tata group took over Rs 15,300 crores (1.88 billion dollars) and the rest 75 percent or around Rs 46,000 crores (5.6 billion dollars) was transferred to a special purpose vehicle, AI Asset Holding Ltd (AIAHL).

Despite all this, the sheer capital strength of Tata, its dedication to make Air India better has been more evident since day one.

Sources:

https://www.airindia.in/press-releases.htm

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/government-settles-over-rs-61000-crore-air-india-debt-other-liabilities-before-transfer-to-tatas/articleshow/89162597.cms

https://www.goindigo.in/press-releases.html

Sources of photos:

https://www.facebook.com/AirIndia/

https://www.ch-aviation.com/portal/news/69395-indigo-airlines-grounds-5-a320neo-due-to-engine-issues

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