Air India starts international travel for the first time with ‘Airbus A350-900’ on Delhi-Dubai route.

• In a milestone, Air India commenced operations of its brand new Airbus A350-900 aircraft on the busy Delhi-Dubai route from 1 May 2024, marking the international debut of the flagship aircraft. With this, Air India becomes the only carrier to operate the A350 between India and Dubai.

• The aircraft painted in Air India’s bold new livery was welcomed with pre-departure ceremonies at both the airports. To mark the occasion, guests were presented with A350 souvenirs.

• At Dubai International Airport, Mr. Satish Kumar Sivan, Consul General of India to Dubai, attended the ceremony along with Mr. Jamal Al Hai, Deputy CEO of Dubai Airports and Mr. Mohammed Abdullah Lengwi, Director General of Dubai Civil Aviation Authority.

• According to the company statement, Air India’s A350-900 aircraft have a three-class cabin configuration with 316 seats, which include 28 private business suites, 24 premium economy seats and 264 economy seats. All seats are equipped with the latest technology and entertainment systems.

• The Airbus A350-900 is a long-range passenger aircraft that can accommodate 300-350 passengers in a three-class configuration. Its range is 15,000 kilometers.

• According to Airbus, the A350 is powered by two Trent XWB turbofan engines that are the result of very close collaboration between Airbus and the powerplant’s manufacturer, RollsRoyce.

• Currently, Air India operates a total of 72 flights per week to Dubai from five Indian cities, including 32 flights from Delhi, strengthening its strong presence in the region.

• Air India had placed a historic order of 470 aircraft from both Airbus and Boeing, which will be delivered over the next five years. The induction of A350s into the Air India fleet as part of the airline’s order began earlier this year. It consists of a total of 20 Airbus A350900 aircraft.

• RBI launches ‘floating rate bonds’ maturing in 2034

• The Government of India has introduced a Floating Rate Bond (FRB) maturing in 2034, Reserve Bank of India (RBI) has announced 8% interest rate for the Floating Rate Savings Bond (FRSB) 2034.

• This bond offers a variable interest rate that resets every six months, reflecting market conditions. The interest rate is based on the average yield of recent auctions for short-term government debt (called Treasury bills). Basically, it moves with market conditions.

• This rate adjusts every six months. For the period April 30, 2024 to October 29, 2024, the interest rate is 8%.

• The 8% interest rate is derived from the average of the interest rates of the last three auctions of shortterm government debt, supplemented by a fixed additional amount of 0.98%. In which the minimum investment is Rs 1,000 and there is no maximum limit.

• Without the provision for cumulative interest payments, interest payments are made halfyearly on January 1 and July 1.

• Floating-rate bonds offer flexibility, adjusting their interest rates based on current market conditions, making them suitable for conservative investors seeking stable returns.

• These bonds are not listed or traded, and loans cannot be taken against them. Premature encashment with penalty is allowed for senior citizens after the minimum lock-in period, which may vary from four to six years depending on the age group.

04 May 2024