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Intimation of constituting 13th Lok Sabha has been given to the President. NDA has unanimously elected AB Vajpayee as the leader. Together they have visited Rashtrapati Bhavan to intimate their collective decision. President has expressed his pleasure over the election results which give NDA clear mandate to rule the country. Unlike last time, President has lost no time in appointing AB Vajpayee as the Prime Minister of the country to head the National Democratic Alliance Government. Typically, there are no hoarse cries from the opposition camp nor any dissent from the NDA partners. It is thus a very smooth sail without any ifs and buts. The new cabinet is slated to be formally sworn .........more The 9 hour curtailment announced by the State Government has no logic at all at this time of the season when plentiful power is available from the Northern Grid....more |
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HUDCO
proves sceptics wrong By M R Rao Pakistan stepping By Sanchet
Barua Mudslinging to By Dr
Bharat Bhushan Repairing environmental By D. K.
Arora |
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EDITORIAL Intimation of constituting 13th Lok Sabha has been given to the President. NDA has unanimously elected AB Vajpayee as the leader. Together they have visited Rashtrapati Bhavan to intimate their collective decision. President has expressed his pleasure over the election results which give NDA clear mandate to rule the country. Unlike last time, President has lost no time in appointing AB Vajpayee as the Prime Minister of the country to head the National Democratic Alliance Government. Typically, there are no hoarse cries from the opposition camp nor any dissent from the NDA partners. It is thus a very smooth sail without any ifs and buts. The new cabinet is slated to be formally sworn in on Wednesday. With that new era begins. There is no doubt that NDA is an amalgam of many parties. But they have a common agenda, the National Agenda for Governance. Prime Minister Vajpayee has candidly mentioned and coined the term 'Coalition Dharma' which ought to be followed scrupulously by all the partners. This latest coinage makes all partners equal. There latest coinage makes all partners equal. There may be first amongst the equals but contribution of every one in facilitating excellent victory at the husting is duly recognised. It is just as well that alliance partners do not become fussy about petty matters concerning their respective constituency or the State. As MPs their first duty is to the nation as a whole. Any criticism of the Government by the alliance partners thus makes them small in public esteem and provide enough of fodder to the fourth estate and opposition parties do exploit it to the hilt. For instance, Haryana Chief Minister Om Prakash Chautala has criticised hike in diesel prices as it would hurt Haryana farmers. This is a parochial approach for a national issue because diesel price is linked to international prices. The only surprise in the hike is that it has come about six months late due to electoral compulsions. In this context, one can as well mention the statements of Prime Minister and Finance Minister. Vajpayee has clearly stated that people must ready for accepting fiscal corrections. It implies two-fold thrust. First, to control and reduce the expenditure. Second, to mobilise additional resources through judicious restructuring of the tax regime, both direct and indirect. This could mean reduction in subsidies on many items. One can mention at least three crucial areas where subsidies have played havoc with the mounting fiscal deficit. The largest subsidy goes to kerosene oil and to some extent LPG. The food subsidy also absorbs large amounts annually even though many schemes like targeted distribution system has failed to work to the advantage of the poor and targeted population, Third is the subsidy to farm sector for fertilisers, seeds and even power supply. Punjab gives free power to farmers which has put the State electricity board deep in the red. It is certain that the new Government shall be addressing to reduction in subsidies which have become inevitable for fiscal corrections. One expects that all alliance partners as also the opposition parties would treat it as an economic necessity and support such corrections without any inhibitions. The other priority area is the national security, both internal and external. Here too several harsh decisions have to be taken. First, budgetary allocations have to be increased substantially from the existing 2.5 per cent of GDP to at least 3.5%. Second, rapid modernisation which entails purchase of new and sophisticated weapon systems cannot wait any longer in view of the recent experience. Third, internal security has to be tackled firmly and with iron hand as ISI has spread its tentacles far and wide to take within its ambit entire country. Many ISI modules have been destroyed. Action is in hand to finish the remaining. All this calls for additional resources for re-equipping para-military forces and galvanising State police forces. Any such drive against foreign agents engaged in subversions and destruction must have the full support of the opposition parties. They must put vote-pocket culture on the back-burner and ensure that none with extra-territorial loyalties get away with its nefarious acts. Several important bills have been hanging either due to internal squabbles or for want of requisite majority. It is nice to hear that Prime Minister Vajpayee has given clearance for seeing all such pending legislation through in the shortest possible time. This also includes Insurance Regulatory Bill which when passed opens yet another sector for FDIs and makes FIIs to put India right on top of their prospective investment list. Moody has already upgraded investment in India as very safe and attractive India needs to get all such investment to give massive thrust to infrastructure development which in turn creates more employment vistas as also create large demand for goods. There is a saying, ''Well begun is Half Done''. This time round Vajpayee Government has all the positive ingredients of running full five year term. Vajpayee is right on course when he makes the charity begins at home by announcing that he would have only two-tier ministry and that its size would be medicore- neither too big nor too small which in other implies cabinet of good talent that is fast on delivery. He also reads the pulse of the people correctly when he says that people want quick results and are not ready to wait or listen to alibis for the delay or inaction. One expects that Vajpayee intends pursuing National Agenda for Governance fast enough so that results and benefits are quick and visible. New era thus begins after a lot of confusion and experimentation during the last so many years. The 9 hour curtailment announced by the State Government has no logic at all at this time of the season when plentiful power is available from the Northern Grid. Typically, PDD disowns any hand in enforcing this all time record curtailment since the orders have come from the Government to go for it. This means within three years of popular Government rule, hapless citizens have been subjected to not only frequent hikes in power tariff which they have faithfully and honestly paid but also exposed them to humiliated and indignified treat in terms of non-supply of power in the required quantity and maintaining its quality. This speaks volumes about the apathy of the administration towards the welfare of the people. On the one hand State sends invitation to industrialists and entrepreneurs for starting industry in the State on the plea that cheapest and plentiful power is available. On the other hand it does everything that chokes the life-line of even existing industry by massive curtailments, unscheduled cuts and above all abysmally low fluctuating voltages. Such course has also affected other consumers by making them live in long period of darkness and without operation of their costly gadgets. It also makes the students sick as they got to be reverting to primitive age in candle light studies. This is not the way to treat the people who just three years back gave NC Government more than two-third majority. The excuse of not having enough money to buy power is out of tune. Beg, borrow or steal, the Government has no right to fiddle around with the smooth life of the citizens and make it woeful. All State Governments are in dire financial crunch but none of them have exposed the people to such horrendous treat. This massive cut of nine hours is in itself an adverse commentry on the popular Governments management of affairs. The injustice being done to the citizens by making their life woeful with such unjustified and uncalled for curtailment must be undone forthwith. |
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By M R Rao The Housing & Urban Development Corporation (HUDCO) has proved the sceptics wrong. Its seven-year bonds and the 10-year maturity bonds have been over subscribed. The advisory from credit rating agencies has virtually been ignored by the investing public. ''Our inherent strengths have been recognised'', V Suresh, Chairman, HUDCO, says with confidence. He doesn't deny that the public sector navratra is not saddled with non-performing assets (NPAs). But says, the outstandings are not very significant at around Rs 18 crore as of now. ''We have 100 per cent provisioning in the most transparent manner''. Most of the sticky advances were due from state governments, who received the loans for such social works like urban sanitation and drinking water projects. With government or local bodies as the clients there is nothing to worry for HUDCO, appears to be the attitude of V Suresh, who is the toast of the town after he slashed the interest rates under HUDCO Awas Yojana- individual housing loan scheme- for the second time in under six months. His finance director chips in with the news that habitual offenders like Uttar Pradesh have since securitised their advances through bond issues and this is bound to reflect well in the HUDCO balance sheet. The short point of HUDCO officials' argument is that for the first time a public sector bond offering has takers by the dozen. That the offer was not rejected out of hand under the influence of credit rating agency downgrades and that the issue was oversubscribed is a significant pointer, the officials aver. Have the investors felt that HUDCO would not be at the receiving end because the NPSs are on account of state governments?, they were asked. The reply was: the argument cut both ways. If there is nothing to worry because of the in-built sovereign guarantee for the HUDCO advances to states, there is no need to downgrade HUDCO bonds. The important point, however, is that the priority sector taxable bonds issue of Rs 200 crore was oversubscribed. While the 12.25 tenor seven-year bond received Rs 178.5 crore, the 12.5 per cent tenor 10-year maturity bond received a subscription of Rs 57 crore. The coupon rates were decided by book building exercise. For the Provident Fund and Gratuity trusts, the corporation offered point five percentage more in the coupon rate, as they are long-term players. This fiscal, thus far, HUDCO mobilised Rs 936 crore. Of this Rs 43 crore came in as government equity, Rs 472 crore as term loan from banks and institutions, Rs 235 crore from bonds, Rs 140 crore through public deposits and Rs 46 crore loan from OECF. Its target for fund mobilisation from all quarters for this year is pegged at Rs 4860 crore. This week (September 22 to be precise), the corporation signed an arrangement in Washington to raise $ 10 million from US capital markets to finance its Urban Infrastructure Projects. The interest is very low, just 18 base points above LIBOR. The term is 30 years, as HUDCO chairman said, this loan, in the form of bonds is guaranteed by the US Government through the USAID under the Housing Guarantee Programme. The US float is a quick follow-up to the MoU signed by India and the US for the development of debt market here for financing municipal corporations. Under the MoU, a sum of $125 million has to be raised for lending to sanitation projects, water supply schemes and sewerage schemes over a period of five years. HUDCO has selected two projects at Nagpur and one at Surat for financing as a part of the scheme. These are primarily concerned with water supply, sewerage treatment, and energy recovery from municipal waste. PROJECT INITIALISATION FUND: In an effort to smoothen the process of project planning for infrastructure development, HUDCO has come up with a new scheme. The first of its kind, to quote the HUDCO chief, in the Indian mileu. ''We have felt the need for such intervention repeatedly in launching new projects'', he said while outlining the concept of Project Initialisation Fund (PIF). There are no avenues providing financial support for initial studies, surveys for preparation of project reports. These basic inputs ultimately lead to well designed and timely project implementation. Most of our large-scale projects in the infrastructure sector are behind schedule because of the absence of detailed project formulation efforts. Slippage in the implementation schedules, and consequent time and cost overruns have come to undermine the capacity to service and raise service loans. We are addressing this long felt bottleneck, Suresh said adding PIF will provide Rs 230 crore for the feasibility report on alternate national highway from Jammu to Srinagar. Total project cost is estimated to be around Rs 200 crore. With a workable project report, it will be much easier to secure external finance. Because the PIF sponsored study will cover external finance. Because the PIF sponsored study will cover such mundane areas like financial resource planning, project description document, including technical specifications, clear scope of work, risk assessment analysis, draft contract documents and quality requirements. SANCTIONS CROSS Rs 2250 CRORE : The projects HUDCO with a loan component of Rs 2254 crore will contribute to development of over 1,16,000 dwelling units and 1,40,000 sanitation units, besides 40 urban infrastructure projects. This takes the total sanctions total sanctions to 14,449 projects in all involving an outlay of Rs 41,814 crore and loan component of Rs 24,521 crore. HUDCO officials claim that their assistance has helped to build 86,36 lakh houses across the country, besides contributing to creation of over 48 lakh sanitation units and exection of 749 urban infrastructure schemes: better living environs in 1734 towns and thousands of villages. AFFORDABLE LOANS : With low cost finances at its disposal from the international market, HUDCO has made finance for individual housing more affordable. The HUDCO Niwas Scheme is popular right from the day of its launch in March 1999 is evident from the long queues in front of HUDCO. It has already sanctioned over Rs 90 crore and released over Rs 70 crore. The drop in interest rates, now, ranges from point five per cent at the Rs 2,00,001- Rs 5,00,000 slab to one percentage point for borrowers availing Rs 8,00,001 to Rs 10,00,000. Interest rates for the loans up to Rs 50,000 remain unaltered at 11.50 per cent. ''We cannot afford as we are incurring a loss on this segment'', a HUDCO official said. For loans in the Rs 50,001 to Rs 2,00,000 slab, the interest has been hiked from 12 per cent to 12.75 per cent. This hike will not remain for long, the HUDCO chief averred. The promised refinance from National Housing Bank (NHB) has dried up forcing the hike, according to corporation's finance director. The NHB is expected to resume refinance shortly. How soon? It is not clear as yet. Right now, the hype accompanying the HUDCO Niwas Scheme is still to make a real dent at the market place. To what extent big brother HDFC and fringe players from the public sector banks will take it is a moot point. But the fact that HUDCO is determined to discourage migration of borrowers from other lenders to its own account books to avail the low interest rate regime is no small mercy. Sooner or later other players may be compelled to reduce their spreads, and follow the HUDCO example of monthly reducing interest regime. The hidden costs in the loans from Housing Finance Institutions (other than HUDCO) vary from Rs 13,600 to as high as Rs 1,67,000 depending on the loan drawn and repayment period agreed to.-CNF |
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Mudslinging to ridiculous limits By Dr Bharat Bhushan BJP-led National Democratic Alliance has scored over it's rival in touching the lowest possible depth of mudslinging. This is not surprising at all because it is not a political party like others. Being a front for a pseudo-cultural organisation - RSS, dubbed once as "rumours spreading society" by the late Madhu Limaye - BJP cannot be like others. Therefore, when Prime Minister Vajpayee expressed "deep anguish" over the personal tirade against him by Congress general secretary Ghulam Nabi Azad and actor politician Rajesh Khanna, he sounded hollow, had he been sincere, he wouldn't have blamed his and his party's opponents in the very next sentence. The fact of the matter is that none but BJP leaders themselves started this. Their mouthpieces did not lag behind. Their camp followers among the media people followed suit. Character assassination through half-truths and total lies are the hallmarks of the culture of RSS. From Mahatma to Nehru to Indira to Rajiv Gandhi have been their special targets, besides, communists and some uncompromising socialists. Soon after the dissolution of the Lok Sabha, but before actual campaign for mandate '99 started, one of the worthy general secretaries and one of the ten chosen by the party to brief the media (chosen on the recommendation of the advertising agency), Sushil Mody taunted Ms Sonia Gandhi for not observing the fast of "Karva Chauth" as is done by Hindu women for the well-being of their husbands. The idea was to question the Hindu credentials of Sonia Gandhi and to paint her in poor light for not being a 'pativratta' - a devout wife. Poor Mody. He did not check his facts. He forgot that Sonia Gandhi is a widow since 1991 and that widows do not observe this particular fast. He also showed his criminal ignorance about other facts. This fast is not observed in South, North, East, a larger part of western India. It is basically a North Indian ritual for women, and more particularly among Punjabis. Even in North it is not observed by Jats, Gujjars, most of OBC's and also by SC/ST women. It is basically an urban phenomenon. Mody also forgot that Sonia was married to Rajiv as per Kashmiri Hindu (Pandit) rites and "Karva Chauth: is not observed by their women. Mody could have checked from Ms Maneka Gandhi - their fellow traveller. She is a Khatri-Sikh by birth. She too was married to Sanjay as per Kashmiri Pandit rites. No doubt, it was patently absurd on the part of Ghulam Nabi Azad and Rajesh Khanna to talk of Vajpayee's adopted daughter and foster son-in-law and Congress spokesperson Kapil Sibal did the right thing by condemning it. But it Vajpayee felt bad over it because of clear legalities and social niceties then Sonia Gandhi has more reasons to feel bad for being described as a "foreigner". She became Indian the moment she married as Indian - Rajiv Gandhi, as per the law. She was right when she said rest was 'technicalities' only. Moreover, when technicalities have been fulfilled why raise the question of a lapse. It was Vajpayee himself who had warned his partymen to be extremely cautious while raising the issue. He is on record for saying, 'Bahut soch samajh kar bol raha hoon' (I am saying so after profound thinking). Why then he is saying (after Advani) now that Congressmen themselves raised the issue and why RSS mouthpiece ' Panchajanya' in its issue dated 29th August presented the Bellary contest as Swadeshi Vs Videshi with photos of Sushma and Sonia onthe front Page. Veteran freedom-fighter and senior Congressman N D Tewari is on record that he himself heard a senior BJP leader saying that they have left the foreigner's issue to Pawar and company. Vajpayee and others wants Sonia to tell the nation about relationship with Quattrochi, but not about their relationship with Hindujas. As per the law, a married daughter cannot be part of anybody's family. How come then Vajpayee's adopted daughter lives with him and Ranjan Bhattacharya is a ghar jawai. Moreover, the nation as a right to know whether he is privy to PMO also. Otherwise how come his name is associated with so many murky deals? The character of a person is known by what he/she laughs at the Nation has been witnessing the personal attacks on Sonia (earlier on Indira Gandhi) by lesser minions of Sangh parivar. A political party becomes dispreputed because of middle-level leadership. The kind of leadership like Pramod Mahajan his brother-in-law Gopi Nath Munde (remember the Tamasha girl episode), Narendra Mody, Uma Bharti - Govindacharya episode, Shalini Sharma (of Ajmer, Rajasthan), Khurana - Verma - Sushma triangular fight in Delhi, Kalyan-Kalraj rivalry in UP, Patwa - Saklecha fued in in MP, a Sukhram in H.P., A chautala in Haryana, honeymoon with Chimanbhai Patel (after describing him as "Chiman Chor" in the Nav Nirman movement in 1974), reveals only the tip of an iceberg of corruption, immorality incompetence in UP. Much is made of Sonia's command over Hindi. Hindi is not her mother tongue and that there is no standard form of spoken Hindi, despite Akashvani. Hindi is spoken differently not only by non-Hindi speaking people (Hyderabadi, Mumbaia), but also within the Hindi region. A Haryanvi's spoken Hindi is poles apart from a Behari's Hindi. In comparison to Sonia's command to Hindi, one would like to know, what is Naveen Patnaik's command over Oriya, Amak Apang's over Khasi, Omar Abdullah's over Kashmiri and Sukhjinder Badal's over Punjabi. Despite the fact that these are their mother tongues. Similarly, the bogey of dynasty is raised. (Vajpayee himself raised it in interview to a Hindi daily on 23rd September). One would like to know whether Maneka is a part of this dynasty (Nehru-Gandhi) or not? If not, then on what basis she is in politics? What social work she has done except working for the welfare of animals and that too at the cost of worsening the lot of human beings - the kalandars who are campaigning against her in Pilibhit. Those who raise dynasty bogey don't tell us on what basis Naveen Patnaik, Omak Apang, Omar Abdullah (earlier his father), Sukhjinder Badal, Chandra Babu Naidu, Dalpat Singh (son-in-law of B.S. Shekhawat in Rajasthan) and Stalin are in politics. The list is endless. The worst example of dynasty is Devi Lal of Haryana whose three generations are in politics and all the three (Devi Lal himself, his estranged son, and his grandson) lost election to the Lok Sabha in 1998. Yet this abuse -- dynasty, is thrown at Sonia, while a lady journalist of a leading daily went to the extent of describing Priyanka and Rahul as fake Nehru-Gandhi. If sons/daughters/nephews/nieces/in-laws can benefit from family connections in industry, business, performing arts and also in the media, why then politicians are singled out for perpetuating the so-called family legacy. In a democracy, it is people who choose their rulers. If they choose some one from a particular family, why grudge it, and why other political families do not emulate the Nehru-Gandhi family's pro-people attitude. It is a pity that an organisation which did not participate in the freedom movement and tried its best to distance the country's from Mahatma Gandhi as well as Subhash Bose should control the Government from outside after 50 years of independence. It is equally regrettable that one who berayed the cause of Independence (in 1942) should become the Prime Minister of India. It is now for the people of India to see through the design and read the writing on the wall. - CNF |
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Repairing environmental damage to aircraft By D. K. Arora The aviation industry is becoming more and more conscious of environmental damages to the aircraft. Among the aviation companies, environmental protection is one of the central corporate goals of the German group Lufthansa. Maintenance and overhaul of civil aircraft are now exercises in recycling. Whenever technically possible and feasible from a safety point of view, Lufthansa Technik, an affiliated company of Deutsche Lufthansa AG, has elevated the basic tenent of "repairing instead of throwing away" to an overriding principle. Aircraft components often have to stand up to extreme strains and still be as lightweight as possible. This is why so many parts are manufactured from valuable raw materials and at high levels of energy input. Even when damaged or worn out, they are generally too valuable to be thrown away and replaced with a new part. The "repairing, instead of throwing away" policy benefits the environment and the companies in equal measures. A typical example of how Lufthansa engineering puts this principle into action is the ADH technique for repairing the guiding blades from the "hot" section of jet engines -- which are exposed to particularly high levels of stress. ADH stands for Activated Diffusion Healing and is a soldering technique that comprises more than 50 individual steps. These blades form a circle immediately behind the combustion chamber and serve to guide the gas jet to the high-pressure turbine. At full thrust they are hit by highly corrosive gases at a temperature of about, 1,300 degrees Celsius at a speed of 500 meters per second and a pressure of 30 bar. These blades consist of complex alloys based on cobalt or nickel with additions of chromium, wolframite, titanium and aluminium. And they are perforated by hundreds of tiny cooling channels. Their raw materials, energy consumed during production and manufacturing costs add up to a price of US $13,000 for a single blade. Such a blade weigh only 640 grams, and what makes it twice as expensive as gold. After 10,000 to 20,000 operating hours, these blades have to be replaced. They show mechanical changes that decrease turbine efficiency and hence increase fuel consumption. Engine manufacturer General Electric was the first to develop the high-temperature ADH soldering technique. It can be applied to close cracks, solder worn sections and attach replacement pieces. The damaged areas are coated with a special soldering power. Then in a vacuum oven at 1,200 degrees Celsius this powder fuses fully with the blade's original material. At the end of this involved process, the blade becomes as good as new. In contrast to the earlier approach of throwing away and replacing, ADH conserves valuable raw materials, large amounts of energy - and a lot of money. The ADH repair costs only one-sixth of what one would spend for a new blade. For aircraft, less weight means lower fuel consumption. That is why engineers increasingly use advanced materials such as plastics reinforced with carbon fibre and other multi-layered "composites". To increase a component's rigidity, for instance, the honeycomb principle fills the space between two relatively thin layers of carbon fibre plastics with a stabilising honeycomb structure. Modern aircraft mostly use carbon fibre plastics for stabilised surfaces and air brakes (Airbus) and engine cowlings (all manufacturers). The advantage is they are lightweight and easy to maintain. But the disadvantage is price -- they are several times more expensive than conventional aluminium components. A cowling for the CF6-80 engines that power Lufthansa's Boeing 747-400 jumbo jets costs nearly US $200,000. And a thrust reverser comes to a staggering US $750,000. Cowlings particularly are exposed to many potential sources of danger. Lightning remains a relatively rare cause of damage. But many cowlings get damaged due to a lack of human attention during towing or loading of aircraft. When composite technology was still in its infancy, a less than gentle encounter with a forklift resulting perhaps in a fist-sized hole meant that the component simply had to be thrown away. At that time, neither the makers of composite raw materials nor the aircraft and engine manufacturers offered standardised repair methods. This was an avoidable waste of money and resources -- not to mention the unsolved question of how to dispose of such parts in an environmentally compatible way. That is why the engineers at Lufthansa Technik in Hamburg developed a process to repair composite components that has since become the industry standard. First, the damaged area is polished conically, meaning wider at the top and narrower at the bottom. Then, the individual layers are reconstructed so that the run of the fibres corresponds to that of the surrounding material. Finally, the component is hardened at constant temperatures in a special oven. The result: the component is as solid and durable as before. Aircraft tires also illustrate well the Lufthansa preference for avoiding waste. While remolded tires can pose a problem for motorists, they are a natural solution for aircraft. Aircraft tires have to withstand enormous strains, and so they wear out quickly. They are inflated with a pressure of 14 bar or seven times the pressure used in car tires. And in the case of the Boeing 747 jumbo jet, they have to support up to 400 tonnes. During landings they accelerate from 0 to 280 km/hr in just one second. We have probably all seen the little clouds of blue smoke when the wheels touch the ground. Depending on the season and type of aircraft, a tire is ready for remoulding after 200 to 300 landings. This occurs up to 10 times during the life of an aircraft tire. Only if the carcass (the tire's inner frame) is damaged, will it be phased out and recycled. Cabin windows are the last examples of disposals that result in happy endings. A Boeing 747 has about 200 windows with Plexiglas panes. The external pane is almost one centimetre thick and at cruising altitudes has to withstand up to half a tonne of pressure. Material tensions, constant temperature changes, solar radiation and above all the penetration of tiny quantities of water first cause scratches and later make the panes almost opaque. As a result, they are replaced every two years. Used panes are ground down and freshly polished as long as the stringent security regulations permit. When aircraft windows panes are finally withdrawn from service, this still doesn't mean a trip to the garbage heap. And this is where the happy ending comes in. In the skilful hands of Lufthansa technicians they are polished and turned into transparent chessboards - popular gifts among airlines folks. Lufthansa is one of the world's 10 largest airlines. By transport performance, it ranks third worldwide in passenger traffic. And it has been the Number One in international cargo for many years now. In 1998, the Group's 322 aircraft carried 47.8 million passengers and 1.6 million tonnes of cargo to more than 300 destinations. The seat load factor reached 75 per cent and the day load factor 72.6 per cent. According to Mr Harald Hahn, Regional Director, South Asia, "Lufthansa's goal for the future is to expand its position in the world market further. In achieving this strategic goal. Lufthansa will continue to take environmental issues into account and consistently apply its guidelines for environment protection." -- CNF |
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