Recent Current Affairs related to Aviation

Air India has signed an MoU with Riyadh Air, the new premium national carrier of Saudi Arabia, to enhance premium travel options.

The partnership aims to streamline booking processes and expand flight connectivity between India, Saudi Arabia, and global destinations.

American investment firm GQG Partners has sold a 1.85% stake in GMR Airports Ltd (GAL) to Fidelity International Ltd (FIL) through Open Market Operations (OMOs) for ₹1,906 crore.

The Union Cabinet has approved a ₹10,000 crore Price Stabilization Fund to support scheduled Indian airlines against rising Aviation Turbine Fuel (ATF) prices. Under this 36-month scheme, the government will provide a ₹10,000 crore interest-free advance to Oil Marketing Companies (OMCs) to cover under-recoveries.

The initiative caps the ATF sale price at ₹115 per litre, with the government compensating OMCs for any losses. The advanced funds will be recovered from OMCs once global prices stabilize and return to the Consolidated Fund of India.

Union Minister of State Dr. Jitendra Singh has inaugurated India’s first ‘SkyCast’ system at the Indira Gandhi International Airport in New Delhi. With this, India has become the 19th country globally to implement this advanced integrated aviation weather monitoring system.

Developed under ‘Mission Mausam’, the system aims to enhance aviation safety by facilitating safer take-offs and landings. It integrates advanced atmospheric sensors to monitor atmospheric conditions up to an altitude of 3 km. A second facility is planned to be established at the Jewar Airport in Uttar Pradesh.

Gujarat CM Bhupendra Patel has inaugurated the second edition of the “India Aircraft Leasing and Financing Summit” (IALFS 2.0) at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar.

The summit was organised through a collaboration between the Ministry of Civil Aviation (MoCA), the International Financial Services Centres Authority (IFSCA), and the Federation of Indian Chambers of Commerce & Industry (FICCI). Union Minister Ram Mohan Naidu presided over the summit. During the event, he highlighted that India is set to emerge as the third-largest civil aviation market in the world by 2035.

The Union Cabinet has approved the extension of the lease for land held by the Airports Authority of India (AAI) and leased to MIHAN India Ltd (MIL) beyond August 6, 2039. The extension facilitates the licensing of Nagpur Airport to the concessionaire, GMR Nagpur International Airport Ltd (GNIAL), for a 30-year duration from the Commercial Operation Date (COD).

The initiative marks a significant step in developing Nagpur Airport into a regional aviation hub under the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) project.

It is to be noted that MIL was established in 2009 as a Joint Venture Company (JVC) between the AAI and the Maharashtra Airport Development Company Ltd (MADC). The equity structure of the JVC consists of a 49% stake held by the AAI and a 51% stake held by the MADC.

The Union Cabinet has approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 with an outlay of ₹18,100 crore to assist Micro, Small and Medium Enterprises (MSMEs) in mitigating short-term liquidity stress arising from the crisis in West Asia. The scheme provides 100% credit guarantee coverage for MSMEs and 90% for non-MSMEs and the airline sector. Eligible borrowers include MSMEs and non-MSMEs with existing working capital limits and scheduled passenger airlines with outstanding credit facilities as of March 2026, provided their accounts are classified as standard.

The Indian Air Force (IAF) has signed a contract with GE Aerospace to establish a domestic Base Depot Facility for the maintenance, repair, and overhaul (MRO) of F404-IN20 engines. These engines power the indigenous Light Combat Aircraft (LCA) Tejas Mk1A fighter fleet.

The facility will be owned, operated, and maintained by the IAF to provide in-country technical support and sustainment for the engine fleet.

The Technology Development Board (TDB) has signed an agreement with the Gurugram-based Casey Aviation Pvt Ltd for the “Boost Electric Jump Take-Off (BE-JTO)” project. The TDB has sanctioned a conditional grant for this project under the “India–UK Collaborative Research & Development (R&D) Programme for Industrial Sustainability”, in partnership with the UK-based ARC Aerosystems Ltd.

The project aims to develop an advanced hybrid propulsion-based Jump Take-Off (JTO) system to enhance the operational capabilities of unmanned and light aircraft platforms. Additionally, the initiative aims to establish one of the first propulsion testing facilities in North India.