Wednesday, March 29, 2017

Zoom Air - India's Newest Airline - Aims High, In Talks To Raise Funds

Zoom Air will soon look at raising funding for business expansion. India's newest full service airline, which marked its entry as the 12th operational carrier in the domestic aviation market on February 15, 2017, started as a debt free organisation, Zoom Air's chief executive officer and director Koustav Mohan Dhar told NDTV Profit. After adding fifth aircraft to its fleet, the airline should be looking at venture capitalists and private equity or PE funds to assist the airline in funding and business expansion in a phased manner, the Zoom Air CEO said in an emailed response.

"It's important that we start our planning for same now and I'm in talks with few PE players to encourage them to look at a sector which has always been negatively portrayed, whereas it remains as very long and sustainable business with global visibility," Mr Dhar said, commenting on the company's business expansion plans going forward.

"Definitely beyond five aircraft it's important for the airline to expand and thus we are exploring even equity participation with a robust ASEAN carrier and talks are in advanced stages," he added.

Zoom Air is expecting delivery of its second aircraft in the first week of April, and the third around mid-April. Zoom Air plans to induct two more aircraft by June-July 2017, Mr Dhar added.
28/03/17 Sandeep Singh/NDTV