Along with its public listing plan, government-owned Pawan Hans has finalized a new business plan, according to news reports. By 2027, the Indian national helicopter company hopes to increase revenue by nearly three times the amount it saw in 2015 to 2016.
Pawan Hans is set to hit the market by late 2017 or early 2018 and hopes to attract investors through its business plan. The plan includes almost doubling its current fleet of 43 by 2025, diversifying business, professionalizing its governing board and investing more in maintenance, repair and overhaul.
Currently included in the fleet are Dauphin SA-365Ns, Dauphin AS365N3s, Bell Helicopter 206 L4s, Bell 407s, MI-172s and Airbus Helicopters AS350 B3s.
The government currently holds a 51% share of Pawan Hans, and the remaining 49% is owned by the Oil and Natural Gas Corp. Reports say that a risk assessment study is currently being done as the company prepares for its initial public offering. A concrete proposal will be ready by March 2017.