A-I tender for no-frills airline

Mumbai, June 8: In a step towards launching its low-cost airline, Air-India Express, in April, Air-India today floated a global tender to take on lease six Boeing 737-800 aircraft. The aircraft, with CFM engines, are to be taken on lease for three years extendable to five years, A-I sources said. The last date for submitting technical and financial bids is July 9. The no-frills airline would be operated by its subsidiary, Air-India Charters Ltd with 25 per cent discounted fares to the Persian Gulf and Southeast Asia from Cochin, Calicut, Trivandrum and Delhi in the first phase.

Rupee hardens

Mumbai, June 8: The rupee rose to a new one-month closing high of 45.0250/0350 per dollar today, driven-up by renewed dollar sales. The Indian currency notched up another 1-1/2 paise from Monday’s close of 45.04/05 to a dollar after dipping to early lows of 45.07/09.

MTNL plan

New Delhi, June 8: MTNL is eyeing overseas acquisitions in a big way. It is likely to bid for Rwanda Telecom, which is being divested by the African country.

Dabur shares

New Delhi, June 8: Dabur has fixed June 22 as the record date for issuing shares for its spun-off entity, Dabur Pharma. However, Sebi is yet to clear the plan.

Jet Airways

Singapore, June 8: Jet Airways said it will decide by early next year the size of the stake it will sell in an initial public offering to reduce $1 billion of debt and buy more planes.