Emergency credit line guarantee scheme: Aviation firms get Rs 349 cr
AVIATION & AIRPORTS

Emergency credit line guarantee scheme: Aviation firms get Rs 349 cr

VK Singh, the Minister of Civil Aviation, announced in the Rajya Sabha that the Emergency Credit Line Guarantee Scheme (ECLGS) has provided guaranteed support to companies in the aviation sector, including airlines such as SpiceJet and GoAir, to the tune of Rs 349 crore.

While no funds have been specifically allocated to the civil aviation sector, according to information from the National Credit Guarantee Trustee Company (NCGTC), borrowers from the sector have been provided with guaranteed support of up to Rs 349 crore as of July 16, cited Singh.

SpiceJet has received loans worth Rs 127.52 crore, as per data presented by Singh, while Bird Worldwide Flight Services Mumbai Private Limited, a Bird Group subsidiary that provides ground handling services at Mumbai airport, was guaranteed a sum of Rs 8.5 crore under ECLGS 3.0.

ECLGS 3.0 has guaranteed a total of Rs 136 crore in funding. These ECLGS 2.0 companies have received a net amount of Rs 213 crore in guarantees:


ECLGS 2.0 Company


Amount

Aerostructures Manufacturing India Private Ltd

(Rs 45.19 crore)

Air Works India Engineering Pvt Ltd

Rs 11.07 crore)

Alpha Design Technologies Pvt Ltd

Rs 2.50 crore

Bengal Aerotropolis Project Ltd

Rs 16.36 crore

CAE Simulation Training Pvt Ltd

Rs 18.40 crore

Flight Simulation Technique Centre Pvt Ltd

Rs 44.14 crore

Go Airlines Ltd

Rs 25.65 crore

Rossell India Ltd

Rs 18.31 crore

Suad Forging India Pvt Ltd 

Rs 3.5 crore 

VEM Technologies Pvt Ltd

Rs 1.93 crore

WAISL Ltd

Rs 26 crore 

The ECLGS was launched by the Ministry of Finance in May 2020 to assist the pandemic-affected economy.

According to a Crisil report released in June, the ECLGS' expansion to sectors such as civil aviation, hotels, and tour operators, which have been hard hit by the second wave of the covid-19 pandemic, will provide a lifeline for highly leveraged companies.

Image Source

VK Singh, the Minister of Civil Aviation, announced in the Rajya Sabha that the Emergency Credit Line Guarantee Scheme (ECLGS) has provided guaranteed support to companies in the aviation sector, including airlines such as SpiceJet and GoAir, to the tune of Rs 349 crore. While no funds have been specifically allocated to the civil aviation sector, according to information from the National Credit Guarantee Trustee Company (NCGTC), borrowers from the sector have been provided with guaranteed support of up to Rs 349 crore as of July 16, cited Singh. SpiceJet has received loans worth Rs 127.52 crore, as per data presented by Singh, while Bird Worldwide Flight Services Mumbai Private Limited, a Bird Group subsidiary that provides ground handling services at Mumbai airport, was guaranteed a sum of Rs 8.5 crore under ECLGS 3.0. ECLGS 3.0 has guaranteed a total of Rs 136 crore in funding. These ECLGS 2.0 companies have received a net amount of Rs 213 crore in guarantees:ECLGS 2.0 CompanyAmountAerostructures Manufacturing India Private Ltd(Rs 45.19 crore)Air Works India Engineering Pvt LtdRs 11.07 crore)Alpha Design Technologies Pvt LtdRs 2.50 croreBengal Aerotropolis Project LtdRs 16.36 croreCAE Simulation Training Pvt LtdRs 18.40 croreFlight Simulation Technique Centre Pvt LtdRs 44.14 croreGo Airlines LtdRs 25.65 croreRossell India LtdRs 18.31 croreSuad Forging India Pvt Ltd Rs 3.5 crore VEM Technologies Pvt LtdRs 1.93 croreWAISL LtdRs 26 crore  The ECLGS was launched by the Ministry of Finance in May 2020 to assist the pandemic-affected economy. According to a Crisil report released in June, the ECLGS' expansion to sectors such as civil aviation, hotels, and tour operators, which have been hard hit by the second wave of the covid-19 pandemic, will provide a lifeline for highly leveraged companies. Image Source

Next Story
Infrastructure Energy

Samridh, CEID Launch High-Capacity Biogas Plant in Moradabad

Samridh Bioenergy has broken ground on a 12 TPD compressed biogas (CBG) plant in Moradabad, Uttar Pradesh, under the MNRE’s National Bioenergy Programme. Spread across 12 acres, the plant will process 270 tonne of organic waste daily and generate 30,000 cubic metre of biogas per day.CEID Consultants and Engineering Pvt Ltd has been appointed as the EPC contractor, responsible for the complete design, procurement, and construction of the plant. Equipped with four multi-feed digesters, the facility will accept a mix of press mud, cow dung, chicken litter, and vegetable waste, supporting contin..

Next Story
Real Estate

Delhi Micro-Markets Drive Up Housing Prices: Grihum Study

A new study by Grihum Housing Finance reveals that the rise of micro-markets across Delhi-NCR is fuelling real estate price appreciation, especially in the affordable housing segment. Key drivers include renewed post-pandemic interest, migration trends, and government schemes like PMAY.According to the study, over the past two decades, floor rates have risen 267 per cent, from Rs 1,500 per sq ft in 2005 to Rs 5,500 in 2024. In the same period, land rates surged 492 per cent, from Rs 1,300 to Rs 7,700 per sq ft. The sharp increase highlights strong capital appreciation in Delhi’s emerging loc..

Next Story
Resources

Covestro Develops PCR Polycarbonates from End-of-Life Headlamps

Materials manufacturer Covestro has launched post-consumer recycled (PCR) polycarbonates made from end-of-life automotive headlamps, in a move aimed at strengthening circularity in the auto industry. These TÜV Rheinland-certified grades, containing 50 per cent recycled content, are now commercially available for new automotive applications.Developed under a joint programme led by GIZ, with Volkswagen and NIO as key partners, the recycled material is currently being validated for use in future vehicle models.""This new line of polycarbonate represents a significant step in supporting the autom..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?