Nearly
200 people on a Singapore Airlines flight had some scary moments when
both engines of the aircraft experienced a temporary loss of power
and had to descend 13,000 feet amid bad weather, prompting the
airline to launch a probe into the rare incident. The incident
occurred at 39,000 ft about 3.5 hours after Flight SQ836 bound for
Shanghai, operated by an Airbus A330- 300, left Changi Airport on
Saturday. "Both engines experienced a temporary loss of power
and the pilots followed operational procedures to restore normal
operation of the engines", the airline's spokesman said. The
flight with 182 passengers and 12-crew on board continued to
Shanghai, China and touched down safely at 10.56pm local time, he
added. The engines were thoroughly inspected and tested upon arrival
in Shanghai with no anomalies detected. SIA is reviewing the incident
with engine maker, Rolls-Royce and Airbus, according to Singapore's
Straits Times newspaper reported. Power loss in both engines is
considered rare in the aviation industry, but pilots are trained to
respond to it. SIA, Asia's third largest carrier by market value,
currently has 29 Airbus A330-300s in its passenger fleet.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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