Jet Air may invest $8 m initially in its cargo airline

Mumbai: Jet Airways is likely to invest $8-10 million in its cargo airline as an initial sum once it finalises most formalities including a partner for its dedicated freighter airline by June 2008. The Chairman, Mr Naresh Goyal, has earlier indicated that Jet’s cargo airline should commence operations by end-2008.
The investment would come in once the airline decides on the routes, Mr Jay B. Shelat, Vice-President Cargo, told Business Line on the sidelines of a two-day Air Cargo India conference organised by STAT Times, a transport and tourism journal. While converted aircraft from passenger to freighter seems a preferable mode, it would be open to leasing out new freighters too and then accordingly decide further investments, he said.
Mr Shelat refused to confirm whether German carrier Lufthansa would be its preferred partner for the upcoming venture. Media reports suggesting a possible alliance between the two carriers have been doing rounds for quite some time. The airline is studying various markets such as the US, Europe, West Asia and China for launching its cargo operations Mr Shelat said.
25/01/08 Shubhra Tandon/Business Line

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Categories: Cargo Jul 2007, Jet Airways Jan 2008, New Jan 2008