Airliners-India.com

lambuhere1

http://www.dnaindia.com/report.asp?NewsID=1095796

The promoters of Deccan Chronicle newspaper will launch India's first international dedicated cargo airline, Flyington Freighters, in July this year with two leased Airbus A330-200F aircraft.

After signing the purchase agreement for six A330-200F aircraft with Airbus' CFO (customers) John Lehay on Wednesday, Deccan Chronicle Holdings Chairman T Venkattram Reddy said that USD one billion would be invested in the air cargo business.

"Initially, we will invest from the internal accruals. However, we may go to the market on a later date to raise resources," Reddy said.

Airbus would start delivering the aircraft, priced USD 175 million each, from the second half of 2008-09 and the entire fleet of six aircraft would be delivered by 2009-10.

"We have assessed the market and saw huge opportunity. Since there are no other players, there is no competition. Our intention to venture into this area is to exploit that huge untapped opportunity," Reddy said.

To be headquartered in Hyderabad, the airline would operate only internationally to China, Middle East, Africa and Europe, he said, adding that the company has no plans for domestic operations owing to poor business prospects.

"Flyington Freighters will be headquartered in Hyderabad because of the locational advantages the city provides. It is a perfect corridor between East and West. Besides the load factor in the Mumbai airport is high," Reddy said.

Flyington Freighters' Managing Director D Parasuraman said that India's market for freight was large and growing very rapidly.

"Globally, the market was growing at 6.2 per cent year-on-year," he said.

Flyington Freighters has already received all necessary approvals from the government, Parasuraman said

Boeing7xx · Member Joined: 23 Dec 2006 Posts: 477 Location: WSSS

Okay, now this makes sense afterall.

Deccan Chronicle's major shareholder isVJM i think.

Nimish · Posted: Thu May 10, 2007 5:42 pm Post subject:

Boeing7xx · Member Joined: 23 Dec 2006 Posts: 477 Location: WSSS

http://www.indianprinterpublisher.com/aug/publishing/2005/Deccan%20Chronicle%20buys%20book%20store.htm

This is the only link that i could find on google that showed any link between the two. But I'm quite sure that there is a strong linkage between the two.

Aiel · Member Joined: 19 Dec 2006 Posts: 927 Location: Bangalore

Is there any way to change the title of the post
(it is pretty misleading) Smile

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shivendrashukla · Posted: Thu May 10, 2007 10:59 pm Post subject:

haree · Posted: Fri May 11, 2007 11:46 am Post subject:

COUGAR · Member Joined: 01 Jan 2007 Posts: 986 Location: Bangalore

Not necessarily misleading

A substantial portion of BDA's business comes from parcels does it not? Different business model from air freight.
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ameya · Posted: Fri May 11, 2007 4:23 pm Post subject:

First Flight courier had a few Q400 ?
Blue Dart with B737 classics & B757....

THey are not counted as first ?

COUGAR · Member Joined: 01 Jan 2007 Posts: 986 Location: Bangalore

again first flight would also be Parcels is it not?

MEL: Does BD take on other consignments?
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HAWK21M · Posted: Sat May 12, 2007 10:04 pm Post subject:

I was on Holiday at GOA....Paragliding,driving & Motorboating Smile

BD carries both courier & cargo.The former has more value def.

regds
MEL
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lambuhere1 · Posted: Mon May 14, 2007 9:06 am Post subject:

Since Deccan Went Public with its IPO , I wonder if VJM is having any majority stake. As far as my understanding goes abt DC, its was initialledowned by Reddy's from the Coastal Andhra.

I still doubt if VJM has any stake in DC.

With respect to the subject, I was not aware of the character limitation in the title. Will take care of it next time

Ram P

HAWK21M · Posted: Mon May 14, 2007 9:18 am Post subject:

COUGAR · Member Joined: 01 Jan 2007 Posts: 986 Location: Bangalore

A large percentage of DN's holdings are held by a Sindhi businesman who was the original investor.
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Boeing7xx · Member Joined: 23 Dec 2006 Posts: 477 Location: WSSS