ETA-Ascon seeks jets for new Indian airline

Dubai: ETA-Ascon, one of the UAE's largest diversified conglomerates, is in talks with regional jet manufacturers Embrayer, Bombardier and ATR to acquire jets to start its new airline in India, a top official said.
"Yes, we have started talking to all three regional jet manufacturers - Embrayer, Bombardier and ATR - to acquire 70-90 seater regional jets for the new airline in India," Syed M. Salahuddin, managing director of the $4.3 billion Emirates Trading Agency-Associated Construction (ETA-Ascon) group, told Gulf News on Wednesday.
"We have already got the licence to start the airline. We are preparing for commercial launch in around October. It will be a regional airline."
ETA-Ascon group, a major player in shipping, trading, construction, real estate and power sectors, has recently entered into aviation business with Star Aviation - a new leasing entity.
"We already have eight aircraft leased to different airlines and the portfolio size is worth $200 million," Salahuddin said.
The group, jointly owned by Dubai's Al Ghurair Group and a group of non-resident Indians, which had grown its business through trading, shipping and construction, has further diversified its portfolio by entering into real estate, hospitality, cement production, steel manufacturing, retail, jewellery and food services.
10/02/08 Saifur Rahman/GulfNews, United Arab Emirates

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Categories: Foreign Feb 2008, New Feb 2008, Star Aviation Feb 2008