Seattle, Washington based Horizon Air has signed a purchase agreement with Bombardier Aerospace for two Q400 NextGen airliners.

Horizon Air, a wholly owned subsidiary of Alaska Air Group, is the largest operator of Q400 and Q400 NextGen aircraft in the Americas with 48 aircraft in service today.

Based on the list price for the Q400 NextGen airliner, the transaction is valued at approximately $60 million US.

Horizon Air said, “Shifting to an all-Q400 aircraft fleet last year was a crucial element in Horizon Air’s business plan. That was backed by our confidence in the aircraft’s superior fuel efficiency, as well as the jet-like comfort it provides our customers in the cabin.”

“Due to their speed, passenger comfort and, importantly, economics, Horizon Air’s Q400 and Q400 NextGen turboprops have allowed the airline to successfully compete against low-cost carriers in its home markets,” Mike Arcamone, President, Bombardier Commercial Aircraft said.

Q400 and Q400 NextGen aircraft provide the best combination of fuel efficiency and productivity, which allows airlines to successfully deploy the aircraft in a variety of markets ranging from typical short-haul turboprop markets to longer-haul jet replacement opportunities.

The use of biofuels presents a significant opportunity to reduce aviation’s carbon footprint, and in this regard, Horizon Air and its sister carrier, Alaska Airlines recently achieved a milestone that will help the industry achieve its emissions reduction targets.

Over a few weeks in November 2011, and using the Bombardier Q400 aircraft, Horizon Air conducted the first biofuel-powered, scheduled commercial flights using a turboprop. Using a fuel blend consisting of 20 per cent used cooking oil, the flights provided passenger service between Seattle and Portland, Oregon.

JetGo Australia Holdings has leased one ERJ 135 aircraft from ECC Leasing, a wholly-owned subsidiary of Embraer. The delivery of the 37-seat jet is scheduled for the end of this month.

JetGo intends to deploy the ERJ 135 from cities on the eastern seaboard to airfields located near natural resource centers and mine sites across the country. The carrier has leased the aircraft to tap into the growing demand for contract services to transport workers who fly in and fly out (FIFO) of non-commercial airports. In Western Australia alone, there are more than 1,000 mine, oil and gas sites that are serviced by FIFO contracts.

Arron Mulder, COO of JetGo said: “The ERJ 135 gives us the range to access most points in the country and its field performance lets us go where larger jets cannot.”

Embraer regional jets are increasingly being used for contract flying in Africa and Australia, with the platform providing a versatile and highly efficient solution for the transport of personnel. This transaction with JetGo follows on a previous private sale to an Australian company that placed their ERJ 135 aircraft into operation in Africa supporting their corporate transport requirements.

With the delivery of the ERJ 135 to JetGo, Embraer will have 44 jet and turboprop aircraft flying with nine airlines in Australia.

More than 275 participants of Western Railway (WR) from Headquarter office and various divisions including Mumbai Central, Vadodara, Ahmedabad, Bhavnagar, Rajkot and Ratlam participated in the 34th Annual Officers’ Sports Meet.

Mahesh Kumar, GM, Western Railway readies himself at the table tennis table

The event was held at Mumbai from February 10 to February 12, 2012.

The sports competition was held in Badminton, Table Tennis, Tennis, Squash, Carom, Chess, Swimming and Soft Ball Cricket. Headquarters office and Vadodara division were adjudged joint winners of Overall Championship. Ratlam division received Runner up Trophy.

Mahesh Kumar, General Manager, Western Railway, was the Chief Guest for the Prize Distribution function held on February 12, 2012, while the sports meet was inaugurated on February, 2012 by Deepak Gupta, Addl. General Manager, Western Railway.

Tata Motors, one of the largest car manufacturer based in India reported a consolidated revenues (net of excise) of Rs.45,260 crores for the quarter ended December 31, 2011, posting a growth of 44.0% over Rs.31,442 crores in the corresponding quarter of the previous year on the back of growth in volumes, improved product and market mix.

The Consolidated Profit before Exceptional item and Tax was Rs.4,658 crores, posting a growth of 68.7% over Rs.2,760 crores in the corresponding quarter of the previous year.

The Consolidated Profit before Tax (PBT) for the quarter was Rs.4,494 crores, compared to Rs.2,728 crores for the corresponding quarter of the previous year. The Consolidated Profit (After Tax and post minority interest and profit in respect of Associate companies) for the quarter was Rs.3,406 crores, as compared to Rs.2,424 crores in the corresponding quarter of the previous year.

The consolidated revenue (net of excise) for the Nine months ended December 31, 2011, was Rs.114,747 crores posting a growth of 32.1% over Rs.86,841 crores in the corresponding period last year. The Consolidated Profit before Exceptional item and Tax was Rs 9,770 crores, posting a growth of 30.7 % over Rs.7,472 crores in the corresponding period last year.

The Consolidated Profit before Tax (PBT) for the Nine months ended December 31, 2011 was Rs.9,110 crores, compared to Rs.7,526 crores for the corresponding period last year after a swing of Rs.714 crores in the period on account of Exceptional item (Exchange loss (net) including on revaluation of foreign currency borrowings, deposits and loans of Rs.660 crores in Nine months FY 2011-12 vs. gain of Rs.54 crores in Nine months FY 2010-11).

The Consolidated Profit (After Tax and post minority interest and profit in respect of Associate companies) for the Nine months ended December 31, 2011 was Rs.7,283 crores, as compared to Rs.6,636 crores in the corresponding period last year.

Tata Motors standalone revenues (net of excise) of Rs.13,338 crores represented a growth of 18.2% over Rs.11,280 crores in the corresponding period last year. Higher marketing spends and overall cost pressures, resulted in a reduction in the operating margins to 6.7%, and an Operating Profit (EBITDA) of Rs.897 crores in the quarter, declining by 26.3% over Rs.1,217 crores in the corresponding period last year.

The PBT for the quarter is Rs.186 crores as compared to Rs.531 crores in the corresponding period last year and the PAT for the quarter is Rs.174 crores as compared to Rs.410 crores in the corresponding period last year.

The standalone revenues (net of excise) for the Nine months ended December 31, 2011, was Rs.37,916 crores posting a growth of 15.7% over Rs.32,763 crores in the corresponding period last year. During the period there was an impact of Rs.282 crores of an Exceptional item (Nine months FY 2011-12 loss of Rs.375 crores versus a loss of Rs.93 crores in Nine months FY 2010-11) as compared to the same period last year on account of exchange loss (net) including on revaluation of foreign currency borrowings, deposits and loans arising from the depreciation of Indian Rupee (INR).

After the impact of Exceptional item, the Standalone Profit before Tax (PBT) for Nine months FY 2011-12 was Rs. 689 crores, compared to Rs.1,606 crores for the corresponding period last year. The Standalone Profit After Tax for Nine months FY 2011-12 was Rs.677 crores, as compared to Rs.1,239 crores in the corresponding period last year.

Tata Motors’ sales (including exports) of commercial and passenger vehicles for Nine months FY 2011-12, stood at 640,334 units, representing a growth of 8.2% as compared to the corresponding period last year.

In the domestic market, the Company’s commercial vehicles sales for the Quarter ended December 31, 2011, stood at 131,220 units, an increase of 15.5% over the corresponding period last year. The commercial vehicles sales for the Nine months FY 2011-12 increased by 15.5% to 374,532 units, as compared to the corresponding period last year. The Company’s market share in commercial vehicles was 59.4% for Nine months FY 2011-12.

Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 33.2% in the domestic market for the Quarter ended December 31, 2011, as compared to the corresponding period last year to 85,963 units. Sales for the Nine months FY 2011-12 declined by 2.0% to 220,574 units, as compared to the corresponding period last year. Focused network actions have positively influenced retail sales. The market share in passenger vehicles improved to 12.6% for Nine months FY 2011-12 largely driven by sales in the recent quarter. The market share in Passenger vehicles for Q3 FY 2011-12 stood at 14.6%.

Jaguar Land Rover sales for Nine months FY 2011-12, stood at 216,412 units, representing a growth of 21.9% as compared to the corresponding period last year supported by better product & market mix with strong growth in China & Russia. Sales for the Quarter ended December 31, 2011, grew 36.7% to 86,322 units supported by the overwhelming response to the recently launched Range Rover Evoque.

Revenues of GBP 3,746 million represented a growth of 40.9% over GBP 2,658 million in the corresponding quarter last year. Strong profit performance was supported by growth in volumes and favorable products and market mix. Operating margins for the Quarter ended December 31, 2011, stood at 20.1% and an Operating Profit (EBITDA) of GBP 752 million in the quarter, a growth of 62.8% over GBP 462 million in the corresponding quarter last year. The PBT for the quarter is GBP 559 million (GBP 300 million in the corresponding quarter last year) and the PAT for the quarter is GBP 440 million (GBP 280 million in the corresponding quarter last year).

The recently launched new products continue to receive positive response. The newly launched Range Rover Evoque, clocked approximately 32,000 wholesale units till December 2011.

Jaguar Land Rover tied up the Revolving Credit Facilty (RCF) with a consortium of banks for committed 3 -5 year credit lines of GBP 610 million which has since been upsized to GBP 710 million. This will enable Jaguar Land Rover to have access to such funding as and when required and enable optimization of cash balances, while strengthening the liquidity position.

Tata Daewoo Commercial Vehicles Co. Ltd. registered net revenues of Rs.704 crores, and recorded a Net loss of Rs.1 crore in the quarter ended December 31, 2011. This is mainly due to slowing down of economy which led to lower industry sales.

Tata Motors Finance Ltd, the Company’s captive financing subsidiary, registered net revenues of Rs.524 crores and reported a Profit After Tax of Rs.71 crores in quarter ended December 31, 2011.

BMW Financial Services India has appointed Dan DeChristopher, 53 years as the new Managing Director and Chief Executive Officer of  with effect from January 27, 2012 and will be based at the company’s headquarters in Gurgaon (National Capital Region).

Dan DeChristopher, new CEO & MD of BMW Financial Services India

Prior to joining BMW Financial Services India, DeChristopher worked as General Manager – Sales and Marketing Central Region, BMW Financial Services North America.

He joined BMW Financial Services in 1996 and has over 30 years of experience.

Born on 11 June 1958 in Ohio, USA, Mr. DeChristopher has a Bachelor’s degree in Business Administration from Eastern Michigan University and Master of Business Administration degree from Fordham University, New York.

Hero Cycles, world’s largest bicycle manufacturer has announced that it has entered into high-end bicycles with the launch of their brand Urban Trail.

Red Dot, the first product of the series was unveiled today and will be available at a price tag of Rs. 43, 000. Red Dot is made of carbon fiber and is the most affordable carbon bike available in India, apart from the 16 other models.  Going forward, under Urban Trail several other luxury products will be introduced costing up to Rs. 3.5 lakhs.

Red Dot is packed with several exciting features. Its body is made of carbon fiber, the same material which is used in F1 race cars and aircrafts, that makes its frame very strong, rust free and yet very light. The weight of the bicycle is approximately 12.9 kilogram and currently available in blue, white & black colors. “Red Dot” has 620mm MTB handle; HL Alloy wheels with 160 mm disk brake that provides it incredible control and balance even in rough terrain. It also has a 21 gear mechanism with TX-35 and TX-51 shimano gears for uphill and downhill ride to give the rider best riding experience, it is learnt.

Speaking on the occasion Pankaj Munjal, Co Chairman & Managing Director, Hero Cycles, said, “With over 45% market share Hero Cycle has the largest market share in India. In mass market segment we have been the market leader throughout, with the changing dynamics of social-economic scenario in India, the future clearly lies in the Premium & luxury segment. With the launch of Urban Trail we want to achieve the leadership position in Premium & Luxury segments”

“Urban Trail offers cycles for all cycling enthusiasts across all age groups. Demand for hi-end cycles is surging in India & we have received encouraging response during our pilot launch in some markets. We see emergence of a completely new market segment in India and are excited to see the changing trend in cycle industry in India and are prepared to surpass the expectation of our customers with the true Hero DNA,” Pravin V Patil, President – Urban Trail, Hero Cycles said.

The Ministry of Civil Aviation has written to the Ministry of Commerce on 15th February 2012 to take steps to allow direct import of Air Turbine Fuel (ATF) by Indian carriers in pursuance of the decision of the Group of Ministers’ (GOM) on Civil Aviation, which was taken in the GOM meeting held on February 7, 2012.

Pic: stockmarketsreview.com

The GOM in its meeting decided that the Ministry of Commerce will permit direct import of ATF by or on behalf of Indian carriers directly as the actual user and on actual use basis.

The decision has come against the background that ATF prices in India are 30 to 40 per cent more than the prices in international market due to high base price and higher taxes. The sales tax on ATF in different States in India is on much higher side, and varies between four to 30 per cent in different States.

The Minister of Civil Aviation has recently written to all Chief Ministers of the States to bring down the rate of sales tax on ATF in order to make ATF cheaper for the Indian carriers. It may be mentioned that the revenue from sales tax on ATF contributes only 0.5 per cent to 2per cent of the total sales tax collection of the States while in terms of operational cost of the airlines its portion is almost 40%, which makes the operational cost of the airlines very high. However, most of the States have not responded favourably.

The Indian carriers would have to make their own tie-ups with the suppliers having infrastructure to import ATF directly for their use. The sourcing of ATF through direct imports has the potential to lower overall procurement cost of ATF for the airlines as sales tax varying from 4 to 30 percent in different States will be required to be paid only on unavoidable local purchase. Also this would bring down the cost of working capital to the air lines as suppliers credit on lower interest rates will be feasible.

The Railways have generated Rs. 55382.80 crore of revenue earnings from commodity-wise freight traffic during April 2011 to January 2012 as compared to Rs. 50487.91 crore during the corresponding period last year, registering an increase of 9.70 per cent.

Railways carried 791.84 million tonnes of commodity-wise freight traffic during April 2011 to January 2012 as compared to 755.86 million tonnes carried during the corresponding period last year, registering an increase of 4.76 per cent. The Net Tonne Kilo Metres (NTKM) went up from 498014 million during April 2010 to January 2011 to 524186 million during April 2011 to January 2012, showing an increase of 5.26 per cent.

Out of the total earnings of Rs. 6173.57 crore from commodity-wise freight traffic during the month of January 2012, Rs. 2583.54 crore came from transportation of 41.35 million tonnes of coal, followed by Rs. 481.60 crore from 8.25 million tonnes of iron ore for exports, steel plants and for other domestic user, Rs. 615.32 crore from 9.92 million tonnes of cement, Rs. 434.18 crore from 4.24 million tonnes of foodgrains, Rs. 322.21 crore from 3.46 million tonnes of petroleum oil and lubricant (POL), Rs. 403.34 crore from 3.23 million tonnes of Pig iron and finished steel from steel plants and other points, Rs. 462.01 crore from 5.32 million tonnes of fertilizers, Rs. 99.97 crore from 1.21 million tonnes of raw material for steel plants except iron ore, Rs. 312.78 crore from 3.45 million tonnes by container service and Rs. 458.62 crore from 6.60 million tonnes of other goods.

The Ministry of Railways has advised the passengers travelling on the train on a short notice to use the facility of Current Reservation Counter situated at the train originating main stations.

The Ministry has pointed out that vacant reserved seat available on train after preparation of reservation charts can be booked at the Current Counters of the train originating stations up to a specified time before departure of trains.

The Railways wishes to create further awareness among the passengers about this facility as due to lack of adequate awareness, it is misused by unscrupulous elements/intermediaries for providing confirmed accommodation to passengers at a premium by using the current counter facility.

It may be mentioned that a reserved ticket can be booked across the Passenger Reservation System counters all over the country as well as through internet only upto the time of preparation of reservation charts. After preparation of reservation charts, the berths/seats available, if any, can be booked at the current counter available at the major stations.

The reservation charts are normally prepared 3 to 4 hours before the scheduled departure of the train. In case of trains leaving early morning, the charts are prepared on the previous night.

Bombardier Aerospace has identified China Express Airlines as the undisclosed Chinese customer in the previously announced CRJ900 NextGen transaction of October 26, 2011.

The conditional order for six (6) CRJ900 NextGen aircraft and options on an additional five (5) CRJ900 NextGen aircraft will build upon China Express’ existing fleet of CRJ200 aircraft, serving to further enhance the airline’s regional network.

The disclosure was one of several announcements made at the Canada China Business Forum held today in Beijing, with Stephen Harper, Canadian Prime Minister, and Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc., in attendance.

As previously announced by Bombardier, based on list price, a firm order for the six CRJ900 NextGen aircraft would be valued at approximately $264 million US. Should all five options be converted to firm orders, the value of the contract would increase to $491 million US.

Hu Xiaojun, Chairman, China Express said, “Our 50-seat Bombardier CRJ200 regional jets have served us very well since we started operations in 2006, and we are confident that the CRJ900 NextGen aircraft, which offers excellent economics, will support the growing capacity demand on our larger routes.”

“As the only aircraft manufacturer with three distinct and optimized families of aircraft in the 60- to 149-seat market segment, Bombardier is well positioned to support the growth of China’s air transport network, and we are delighted that China Express has selected the CRJ900 NextGen aircraft for its operations. The CRJ Series aircraft is the best-selling regional aircraft program in history, and we look forward to welcoming many more operators in China,” Andy Solem, Vice President, Sales, China and North Asia, Bombardier Commercial Aircraft said.

China Express, which is China’s first private regional airline, is based in Guiyang, Guizhou and currently provides regional passenger services with its fleet of five (5) Bombardier CRJ200 aircraft.