Business
Aurangzeb briefs ADB chief on Pakistan’s improving economic indicators – SUCH TV
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held detailed talks with Asian Development Bank (ADB) President Masato Kanda in Davos on the sidelines of the World Economic Forum on Wednesday.
The meeting focused on Pakistan’s economic reform agenda, macroeconomic stabilization, and strengthening the long-standing development partnership between Pakistan and the Asian Development Bank.
The finance minister highlighted Pakistan’s improving economic indicators, including declining inflation, easing policy rates, strengthening foreign exchange reserves, and growing investor confidence.
He briefed the ADB president on progress in structural reforms, particularly privatization and private sector participation, and emphasized the government’s commitment to sustaining reform momentum under the Prime Minister’s leadership.
Both sides discussed cooperation in key areas including energy sector reforms, sustainable development, and access to international capital markets.
The ADB president welcomed Pakistan’s progress, expressed confidence in the country’s economic direction, and reaffirmed ADB’s strong commitment to supporting Pakistan through continued engagement, faster delivery, and close coordination.
Meeting with Menzies Aviation chief
Senator Aurangzeb also held talks with Hassan El Houry, Chairperson of Menzies Aviation, in Davos to discuss opportunities for enhancing cooperation in Pakistan’s aviation sector.
The finance minister shared the government’s reform and privatization agenda, including progress related to Pakistan International Airlines (PIA) and plans to outsource operations at major airports in Islamabad, Karachi, and Lahore.
He noted that Pakistan’s economy is moving in a positive direction, creating a conducive environment for private sector investment and international partnerships.
Hassan El Houry briefed the minister on Menzies Aviation’s global operations and experience in airport services worldwide, and identified Pakistan as a promising destination for aviation-related investment.
He highlighted Sialkot’s strategic importance in aviation and logistics and expressed interest in expanding Menzies Aviation’s engagement in Pakistan.
Both sides also discussed ways to improve airport service quality, operational efficiency, and passenger experience.
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Business
India–US trade talks: Vaishnaw sees Donald Trump’s optimism as ‘encouraging’; says India ‘deeply engaged’ – The Times of India
India remains deeply engaged on global trade issues, Union minister Ashwini Vaishnaw said on Thursday signalling confidence after US President Donald Trump expressed optimism about trade deal with New Delhi.Vaishnaw, who is in Davos for the World Economic Forum (WEF) Annual Meeting, said Trump’s comment is very encouraging. “Given India’s position and deep engagement on trade matters, it is very encouraging,” Vaishnaw told PTI when asked about the US president’s remarks.Trump, speaking at Davos a day earlier, said the United States would have a “good” trade deal with India and praised Prime Minister Narendra Modi, describing him as a ‘close friend’.“I have great respect for your Prime Minister. He’s a fantastic man and a friend of mine. We are going to have a good deal,” Trump said.Vaishnaw is leading a high-level Indian delegation to the WEF meeting, which includes Union ministers, chief ministers and senior state ministers. The Indian presence at Davos also features more than 100 CEOs, reflecting India’s push to engage global investors and policymakers amid shifting trade dynamics.Trump’s comments had come at a time when trade negotiations and tariff policies have taken centre stage globally, with several economies reassessing bilateral and multilateral trade arrangements.
Business
‘Indian aviation may lose Rs 18,000 cr this fiscal, up from Rs 5600 in FY25:’ ICRA – The Times of India
NEW DELHI: Credit rating agency ICRA has projected a sharp rise in India aviation industry’s losses to Rs 17,000-18,000 crore in FY2026, compared to Rs 5,600 crore in FY2025, due to multiple factors like slowing domestic traffic growth, increase in jet fuel prices and the depreciating rupee. Additionally, 133 aircraft of Indian carriers — representing 15-17% of the total capacity — are grounded for a number of reasons that puts supply side pressure too.Calendar year 2025 is seen as one of the worst years for Indian aviation due to the tragic AI 171 Ahmedabad crash, IndiGo schedule collapse, Delhi ATC software issue and many other events.“The Indian aviation sector is under sustained financial and operational pressure, with growth momentum moderating and industry losses widening…. due to operational disruptions, elevated forex losses, higher cost structures and slowing passenger traffic growth,” ICRA said.Domestic air passenger traffic in December 2025 declined by 3.9% YoY to 143.4 lakh passengers, and fell 5.9% sequentially from November 2025. For the full year, ICRA now expects FY2026 domestic air passenger traffic growth of just 0–3%, reaching 165–170 million, revised downward from earlier estimates of 4–6%. International traffic remains relatively resilient.
“Domestic capacity deployment in Dec 2025 declined by 7.3% YoY and 7.6% MoM, with around 91,769 departures, largely due to large-scale operational disruptions at IndiGo, including around 4,500 flight cancellations in early December 2025.”“Aviation turbine fuel (ATF) continues to be a major cost variable. In January 2026, ATF prices were 2.2% higher YoY, but 7.2% lower sequentially. For FY2025, average ATF prices stood at ₹95,181/KL, down 8.0% YoY. Fuel costs account for 30–40% of airlines’ operating expenses, while 35–50% of total operating costs are dollar-denominated, exposing airlines to exchange rate volatility.”“The continued weakening of the rupee against the USD in FY2026 has resulted in significant foreign exchange losses, with further pressure expected in Q3 FY2026. The industry’s interest coverage ratio is projected at 0.7–0.9 times in FY2026, reflecting stressed financial sustainability.”
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