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Bengaluru,12th January, 2023: Damodar Bhattad S has taken charge as the Director (Finance) of Navratna Defence PSU Bharat Electronics Limited (BEL) with effect from January 11, 2023. He was working as General Manager (Finance) at BEL’s Corporate Office prior to his elevation. Damodar Bhattad is a Chartered Accountant, who had secured All India Rank in ICAI final examination. A B.Com Graduate from the University of Madras, he joined BEL as Accounts Officer at its Chennai Unit in 1988 and in a career spanning over 34 years, served the company in various roles and capacities. As Head of Finance at BEL Corporate Office, he played a significant role in the formulation of various company policies and procedures. He also played a pivotal role in BEL recording its highest ever turnover of Rs. 15,044 Cr in FY22 and achieving an order book of more than Rs. 50,000 Cr. As Head of Funds, he efficiently managed Working Capital and ensured BEL remained debt free. He and his team played a key role in efficient collection of Trade Receivables, in the last two years (FY 2021 and 2022). He also initiated investment of surplus funds in Mutual Funds, which increased the company’s returns from Treasury Management. Damodar Bhattad has ensured that adequate internal financial controls are put in place in BEL and the company’s Risk Control Matrix is current and updated. He has been a member of various Management Committees — Management Audit Committee, Corporate Risk Management Committee, CSR Screening Committee and Invitee of Audit Committee and Capital Investment Committee to name a few, and has been able to provide valuable insights to BEL Management from the Finance perspective. Damodar Bhattad was Lead Member (Finance) for devising a business-cum-growth plan for BEL with respect to a strategic advisory services contract signed by the Defence major with a leading consultancy firm. He has been an integral part of the BEL Management team at various analysts/investor conferences. He has played a major role in BEL making the leap from conventional financial reporting to the more holistic approach of bringing out its first Integrated Annual Report in 2021-22. He believes and supports initiatives which increase BEL’s value for shareholders, in terms of higher Dividend payout and capitalisation of reserves. As a member and Finance representative of BEL’s Pension Trust and Gratuity Trust, Damodar Bhattad has ensured that the trust portfolio is suitably diversified in order to minimise risk and maximise returns. Earlier, during his tenure as Head of Finance (Operations), he played a crucial role in finalising contracts and selling price of major equipment and systems with customers. As a member of BEL’s Price Negotiation Committee, he was instrumental in obtaining significant price reductions from suppliers. He believes that BEL being a socially responsible corporate citizen must maximise its value for all its stakeholders.

Bangkok, 11th Jan 2023: Nok Air, Thailand’s low cost airline will commence operations from Bangkok to Hyderabad from 19th February, 2023 onwards. The Airline will operate 4 Weekly non-stop flights from its hub Don Mueang International Airport (DMK) in Bangkok to Hyderabad. The new route will be operated Boeing 737-800 with 189 Economy Class seats.The new route conveniently connects Bangkok to over 20 destinations in Thailand including Phuket, Chiang Mai, Chiang Rai as well as International destinations including Ho Chi Minh City (Vietnam) and Yangon (Myanmar).

Bangalore 26th Dec 2022: Star Air, the regional airline based out of Bangalore has signed a lease for two more Embraer E175 passenger jets with Nordic Aviation Capital (NAC), the largest Regional Aircraft Lessor in the world. These two aircraft are in addition to the two Embraer E175 jet orders signed at the Farnborough International Airshow, UK in August 2022. The first of these four aircraft orders is due to arrive in January 2023. The E175 is powered by GE CF34-8E engines which is feet for the regional jet segment having surpassed 200 million hrs in operations, has no middle seats in a dual-class cabin configuration. Currently flying over 18 destinations across India,the airline is geared to expand its regional presence. Commenting on the fleet expansion, Shrenik Ghodawat, Director – Star Air said, “As we witness the increase of passengers, Star Air is delighted to announce the expansion of our fleet. The addition of these aircraft will not only address the need for more capacity but also help us with Connecting Real India.The E175 aircraft will not only help us achieve greater productivity and higher utilization but will also strengthen our customer experience.”

In a recent statement, Willie Walsh, Director General, IATA expressed his concerns over introduction of COVID-19 testing and other measures for travellers from China by several countries. He said even though the virus is already circulating widely within their borders, it is extremely disappointing to see this knee-jerk reinstatement of measures that have proven ineffective over the last three years. Research undertaken around the arrival of the Omicron variant concluded that putting barriers in the way of travel made no difference to the peak spread of infections. At most, restrictions delayed that peak by a few days. If a new variant emerges in any part of the world, the same situation would be expected. That’s why governments should listen to the advice of experts, including the WHO, that advise against travel restrictions. We have the tools to manage COVID-19 without resorting to ineffective measures that cut off international connectivity, damage economies and destroy jobs. Governments must base their decisions on ‘science facts’ rather than ‘science politics’.”