Why ratings agencies are downgrading Delhi Airport
Fitch has downgraded Delhi Airport because of the sharp drop in footfall on the back of pandemic-induced travel restrictions, weaker earnings, and net debt-EBITDAR ratio increasing to 10
Manu Kaushik | January 19, 2021 | Updated 00:32 IST
First it was S&P Global Ratings in November, and now Fitch Ratings, the Delhi International Airport Limited (DIAL) has received two rating downgrades in less than three months. In the case of Fitch Ratings, the downgrade happened because of the sharp drop in footfall at the Delhi Airport last year due to stringent travel restrictions imposed as a result of pandemic, weaker earnings, and net debt/EBITDAR (earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs) ratio increasing to 10.
Celebi Aviation operationally ready to handle COVID-19 vaccines
India
Updated: Saturday, January 16, 2021, 17:24 [IST]
Mumbai, Jan 16: Turkish aviation firm Celebi Aviation on Friday said it is operationally ready to handle COVID-19 vaccines and is working closely with existing airline operators and freight forwarders to understand their specific requirements.
The company has the infrastructure and capabilities to handle as many charters as required, at its facility and ensure a quick turnaround time , it said in a release.
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Besides warehousing, the company offers ground handling services to these freight operators, Celebi Aviation said.
Stating that it is operationally ready to handle the COVID-19 vaccines, the Turkish firm said the distribution of the vaccine will take place through its state-of-the-art pharma logistics center situated at Delhi Airport, which has the capacity of 72,000 MT annually.
As health care and frontline workers start getting inoculated from January 16, Forbes India looks at how states are gearing up to implement last-mile vaccination, where the private sector is chipping in, and the fears, hesitancy or confidence beneficiaries have regarding the vaccine shot
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Serum institute of India CEO Adar Poonawalla said that they will be selling the first 100 million doses of its COVID vaccine to the central government at a special price of Rs 200 ‘on their request’, he said on 12 January. “After which we will be selling it at Rs 1,000 in private markets,” he told ANI, while adding the first set of doses is meant to support the common man, vulnerable, poor and healthcare workers.
The Pune-based firm has entered into a collaboration with the University of Oxford and AstraZeneca to manufacture the vaccine.
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A week ago, Poonawalla had made similar claims to AP. He had said that while the first 100 million doses were being sold to the government at Rs 200, the prices would be increased after that. He said the vaccine would be sold at Rs 1,000 per dose and would be delivered to states within seven to ten days of finalising the deal with the concerned state government.
First COVID-19 vaccine consignment reaches Delhi from Pune
The first consignment of Covishield consisting of 34 boxes and weighing 1088 kg was carried from Pune to Delhi on SpiceJet flight 8937.
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First consignment of COVID-19 vaccination arrives at Delhi Airport in a special SpiceJet flight from Pune. (Photo | PTI)
Express News Service
NEW DELHI: Ahead of the launch of a nationwide vaccination drive against the coronavirus on January 16, airlines operated by Air India, Spicejet, Indigo and Goair have started ferrying vaccines from Pune to other cities.
Civil Aviation Minister Hardeep Singh Puri said four airlines will operate nine flights to transport 56.5 lakh doses of COVID-19 vaccine from Pune to 13 cities across the country on Tuesday.