Avicore Aviation, ZAV Air get cargo, passenger airline licences

New Delhi: Two new start-up aviation firms, Avicore Aviation Pvt. Ltd and ZAV Airways Pvt. Ltd, aim to kick off operations in the next six months investing nearly Rs800 crore for a share of a rapidly growing market for passenger, cargo and air-taxi services.
According to executives at the two firms, both are funded by non-resident Indians.
The licence approval makes Avicore the second cargo airline cleared by the government in as many months. ZAV is the fourth among so-called regional airlines that have received approvals since early December.
Avicore, as reported by Mint in October, will be based out of Nagpur, which is being developed as India’s cargo hub, and lease or buy Boeing Co.-made 737s that can carry about 15-17 tonnes of freight. Its chief executive officer Shankar Devarajan said the process of acquiring flight slots and parking bays at the airports will begin once it get written approvals.
Kolkata-based ZAV, too, expects to apply for slot permissions at the airports soon. Kishor Zavery, chairman of ZAV, said the airline expects to connect 17 sectors in the eastern and the north-eastern region, including Bhubaneswar, Patna, Bagdogra, Ranchi, Dibrugarh, Aizwal and Dimapur with a low-fare service.
08/02/08 Tarun Shukla/Livemint

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Categories: Cargo Feb 2008, New Feb 2008, Regional Airlines Feb 2008