Air Deccan founder to launch cargo airline

Bangalore: G. R. Gopinath, the founder of Air Deccan, India’s first budget carrier, will invest $200 million, or Rs800 crore, in a new cargo airline and logistics firm, Deccan Cargo, that will begin operations by the the end of the year.
Gopinath’s announcement comes after months of speculation about his next move after his company Deccan Aviation Ltd was acquired by the Bangalore-based UB Group, which also owns Kingfisher Airlines Ltd. The two airlines have merged and will be known as Kingfisher Airlines Ltd once the Karnataka high court gives its nod.
Gopinath said he would own 100% of Deccan Cargo, which will start operations with around nine A-310 aircraft it has leased. The money will come from his personal funds, he added.
“It is a totally different business. Here we need to deliver goods from one place to another in 24 hours,” said Gopinath, now vice-chairman of Deccan Aviation, who will run the cargo airline independent of the existing carrier.
17/04/08 Livemint

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Categories: Cargo Apr 2008, Deccan Apr 2008, New Apr 2008