INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
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UK SOFT-PEDALS ON AIR PEACE, LISTS CONDITIONS TO SECURE SLOTS AT HEATHROW.(PHOTO).

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 UK soft-pedals on Air Peace, lists conditions to secure slots at Heathrow


The UK aviation authorities have expressed readiness to discuss the issue of slot allocation to Air Peace, the Nigerian carrier, at the Heathrow Airport, London, TheCable can report.

In response to a letter sent to him by Festus Keyamo, the Nigerian minister of aviation and aerospace development, Louise Haigh, the UK secretary of state for transport, said his department would be ready to “further discuss this matter” at the “upcoming International Civil Aviation Negotiations event in October 2024”.

“We consider the social, economic and political links between our two countries to be vital. They rely on a vibrant air services market, which I hope we can continue to protect by working together. International connectivity is critical for the continued prosperity of our citizens and businesses, and I therefore very much appreciate your representations on behalf of Nigerian carriers,” Haigh wrote in his response.

This is on the heels of the threat by the federal government to deny UK carriers slots at the Lagos and Abuja airports.

On March 30, 2024, Air Peace began direct flight operations from Lagos to Gatwick Airport in London.

TheCable had reported on August 11 that Keyamo expressed “the displeasure” of the Nigerian government over the “consistent denial of slot” by the UK slot office to Air Peace on the Nigeria-London route to fly into Heathrow Airport — the airline’s first choice since it began operations in the UK in March.

Keyamo warned in the letter dated August 1, 2024 that if Air Peace is not allocated a space at London Heathrow, Nigeria will be forced to “reciprocate” by denying British Airways and Virgin Atlantic slots at the Lagos and Abuja airports.

WHY AIR PEACE COULD NOT SECURE SLOTS IN HEATHROW AIRPORT

Addressing the Nigerian government’s displeasure in a letter dated September 5, 2024 seen by TheCable, Haigh said Air Peace could not secure slots at Heathrow Airport because the domestic airline submitted its request after the slot coordination process had concluded for each season.

“ACL report Air Peace sent late requests for slots for the Summer 2024 season and the Winter 2024/2025 season; their requests were received after the slot coordination process had concluded for each season,” Haigh wrote.

“Carriers can ensure they are in the best position to receive any available slots by following the correct processes.”

Haigh said capacity constraints at Heathrow Airport have reduced slot availability for airlines, with over 319,721 slots requested by several carriers out of a total of 290,580 slots available.

“As you may be aware, Heathrow Airport is constrained by runway capacity and an Air Traffic Movement limit which places downward pressure on the number of slots available in any operating season,” the secretary said.

“For example, for the Summer 2024 season, there were a total of 290,580 slots available; given the capacity constraints, historic rights, and the growth ambitions of all carriers, the number of slots requested reached 319,721.

“This means that carriers had unfulfilled requests for 29,141 slots, which were placed on to a waitlist to potentially receive slots returned to the pool.”

Haigh pointed out that Air Peace is operating from Gatwick Airport, which is the second busiest airport in the UK, with many connections to Europe, Asia, and North America.

“The airport benefits from a direct, mainline rail connection to the centre of London with connection times comparable to other London airports. Several carriers, from a range of nations, have developed substantial and successful operations to London at Gatwick Airport,” he said.

CONDITIONS FOR AIR PEACE TO SECURE HEATHROW AIRPORT SLOTS

In the letter, Haigh said the options available to Air Peace to secure slots in Heathrow Airport, according to ACL, are to join the waitlist, acquire slots through slot trading and commercial arrangements with other carriers or choose to operate from another airport, which Air Peace chose.

“ACL advise that carriers have three options in this scenario: join the waitlist; choose to operate to another airport, as Air Peace have done; or acquire slots through slot trading and commercial arrangements with other carriers,” the secretary said.

“We encourage Air Peace to continue to liaise with ACL on the process for acquiring ad-hoc and historic slots at the UK’s coordinated airports.”

Haigh said the capacity constraints in Heathrow Airport affect new entrant carriers.

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