New British long-haul low-cost airline to fly to India this summer

A new long-haul low-cost airline, initially flying direct to Asian and Middle Eastern destinations, hopes to launch this summer.
Air Sylhet, a London-based business created by four British businessmen, will initially focus on providing scheduled services from London - probably Stansted - Birmingham and Manchester to Dhaka, Jeddah, Dubai, Islamabad and Delhi. It plans to operate ten aircraft by the end of year two.
Other planned destinations in Asia and the US will include Mumbai, Amritsar, Karachi, Riyadh, Abu Dhabi and New York.
Air Sylhet intends to be initially financed by a public offering of shares to cover start-up and operating expenses including aircraft lease, crewing, administration, landing and route fees, regulatory costs, maintenance and fuel.
It is planned to list the company on AIM in 2008. Ten million shares are being offered to private investors at £1 each.
Kabir Khan, marketing and communications director, said: "Family connections between the UK and the Indian subcontinent are important. The UK Asian community is relatively wealthy and tries hard to maintain its links."
There are 2.3 million people with origins from the Indian subcontinent living in the UK.
04/06/07 ic Birmingham.co.uk, UK

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Categories: Foreign Jun 2007, Low Cost General Jun 2007, New Jun 2007