+
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 Transport

Railways Opens First Section of Bullet Train Tunnel in Maharashtra

The Mumbai–Ahmedabad bullet train project has achieved a key milestone with the opening of the first section of a 21-km undersea tunnel between Ghansoli and Shilphata in Maharashtra. The high-speed rail corridor, powered entirely by Japanese Shinkansen technology, has seen 310 km of viaducts completed, alongside rapid progress in track laying, electrical works, and station construction. Five of the 12 stations are complete, with three more nearing completion. The BKC station, located 32.5 metres underground, is designed to support a 95-metre structure above. The next-generation E10 Shin..

Next Story
Infrastructure Urban

Mahindra, Osaka Ink Pact to Boost Japanese Investment

Mahindra Industrial Park Chennai (MIPCL), along with its Japanese stakeholder Sumitomo Corporation, has signed a strategic cooperation agreement with the Osaka Prefecture and Osaka Industrial Development Bureau to support Osaka-based businesses entering India.The partnership aims to streamline entry for Japanese manufacturers, providing support such as business visits, regulatory guidance, and market insights. MIPCL and Sumitomo will act as local facilitators, while Osaka authorities will identify and recommend companies for expansion.With India’s projected GDP growth of 6.3 per cent in FY25..

Next Story
Building Material

Govt Plans Mandatory Public Procurement of Green Steel

The Ministry of Steel is working on modalities to mandate public procurement of green steel, as part of its efforts to decarbonise the industry. A Rs 150 billion Green Steel Mission is being formulated to support emission reduction and move towards net-zero targets.The mission will include a PLI scheme, incentives for renewable energy use, and mandates for government agencies to buy green steel. Green steel is produced with significantly lower carbon emissions compared to conventional methods.Speaking at the India Steel Conclave 2025, a senior official said procurement mandates are under consi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?