Frankfinn to start low-cost airline

New Delhi: Moving a step further from creating manpower for the aviation industry, Frankfinn Aviation Services Pvt Ltd today said it will start a low-cost airline by 2009 and plans to tap the capital market for funding the new venture.
“After having established strong presence in training of skilled manpower for the industry, we are planning to start an airline named ‘Air Frankfinn´ by the end of 2009 or early 2010,” Frankfinn Aviation Services Chairman K S Kohli told PTI.
“It will be a low-cost airlines with frills. We will offer lot of exclusive services and make other airlines run for their money,” he said.
Kohli said the company is in the process of appointing an aviation consultant and would file an application with the government seeking permission for the airline in next three to four months.
The company plans to start-off with a fleet size of five aircraft, of which three would be big and two smaller ones.
The company also has plans to mop up funds from the capital market with an initial public offer in 2009.
24/05/07 PTI/Livemint

To Read the News in full at Source, Click the Headline

Categories: Low Cost General May 2007, New May 2007