Pawan Hans Limited (PHL), the government-run helicopter service company, has launched an ambitious expansion plan, its first since its launch 30 years ago. The company, which has a fleet of 46 helicopters (plus seven on a lease agreement), plans to acquire two seaplanes and 13 aircraft at the cost of Rs 900 crore.
In what is obviously its most ambitious plan, the company is banking on the political parties to fill its coffers. "We are looking at politicians and Central ministries as prospective clients. Currently, only private operators cater to this segment," a senior Pawan Hans official said.
The PHL, in which the government holds 51% stake and the rest are with the public sector unit Oil & Natural Gas Corporation (ONGC), has also said that it is looking at setting up maintenance, repair and overhaul (MRO) business under the 'Make in India' project.
A senior PHL official told Mumbai Mirror that the company has submitted a proposal to the Ministry of Civil Aviation to expand its fleet, even as it prepares to launch an initial public offering (IPO). The government is already discussing plans to divest stake in Pawan Hans in financial year 2016, and has hired the SBI Caps as adviser. The company has faced turbulent phase recently, with seven helicopter crashes being reported in the last decade.
31/12/15 Aditya Anand/Mumbai Mirror
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In what is obviously its most ambitious plan, the company is banking on the political parties to fill its coffers. "We are looking at politicians and Central ministries as prospective clients. Currently, only private operators cater to this segment," a senior Pawan Hans official said.
The PHL, in which the government holds 51% stake and the rest are with the public sector unit Oil & Natural Gas Corporation (ONGC), has also said that it is looking at setting up maintenance, repair and overhaul (MRO) business under the 'Make in India' project.
A senior PHL official told Mumbai Mirror that the company has submitted a proposal to the Ministry of Civil Aviation to expand its fleet, even as it prepares to launch an initial public offering (IPO). The government is already discussing plans to divest stake in Pawan Hans in financial year 2016, and has hired the SBI Caps as adviser. The company has faced turbulent phase recently, with seven helicopter crashes being reported in the last decade.
31/12/15 Aditya Anand/Mumbai Mirror
