Pawan Hans To Target Politicians; Acquire 13 Aircraft And 2 Seaplanes For INR 900 Crore

Pawan Hans Limited (PHL) already has a fleet of forty six helicopters is planning to acquire thirteen aircrafts and two seaplanes. This entire order will cost it INR Nine Hundred Crores. They will target politicians as reported by Mumbai Mirror. 

According to a senior Pawan Hans official, this segment is catered to by only private operators. The government does hold a stake of 51 percent and the rest 49% is with the ONGC, a public sector unit. The ONGC has said that under the ‘Make in India’ project, the company is looking at setting up repair, maintenance and overhaul – MRO business. 

As per the senior official of PHL, the company is said to have submitted their proposal to expand its fleet to the Ministry of Civil Aviation. The government is in the process of discussing the plans for divesting stake in the current year 2016 in Pawan Hans and SBI Caps has been hired as the advisor. 
The annual general meeting of the company was conducted last week and they declared a dividend of INR 7.76 crores.