Agni Aviation, the city-based leading aero sports company, rolled out its 50th indigenously manufactured Zenair CH 701 microlight aircraft today.
The two-year-old company manufactures the all-metal microlight aircraft in collaboration with US-based Aircraft Manufacturing & Development Co., Zenith Aircraft Company and Czech Aircraft Works.
Zenair CH 701 is priced at Rs 17 lakh (exclusive of taxes). Agni has a firm order for 70 aircraft for the current fiscal.
Speaking to reporters on the sidelines of the launch, Shripad Naik, the minister of state for civil aviation, expressed concern that the government's allocation of Rs 5 crore for the flying schools in the country was being underutilised.
The minister added that Indian Airlines, which had already bought four 51-seater ATR aircraft on lease, was looking at acquiring more such aircraft.
He said that Air India was targeting a profit of Rs 100 crore this year as compared to Rs 15 crore last year.