Star Aviation looks at GMR for sale

Chennai: Star Aviation, the country's first regional airline to get a licence in 2007 but yet to launch service, has initiated sale talks with the GMR group of Hyderabad. The Dubai-based ETA-owned airline, promoted by NRI Syed M Salahuddin, is also in talks with Kalanithi Maran of Sun Network but sources say it has come a cropper.
Sources said that Maran could pick up a stake in SpiceJet from domestic mutual funds which bought 13% in the airline when Istitmar exited on February 5. However, Sun officials maintain that the deal with Star Aviation has not been called off, as yet.
Meanwhile, Star Aviation officials have started talks with the GMR group, which manages the IGI Airport in Delhi, Rajiv Gandhi International Airport in Hyderabad and Istanbul Sabiha Gokcen International Airport in Istanbul.
"ETA (Star Aviation's promoter) itself will do it (talk to GMR Group). We plan to start the first flight sometime in June this year. We have the necessary permissions from the civil aviation ministry and have recently renewed our licences. We will be plying on the regional routes,"Star Aviation CEO T V Durairaj said.
21/02/10 Rajesh Chandramouli & T K Rohit/Times of India

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Categories: Airports Feb 2010, New Feb 2010, Regional Airlines Feb 2010, Star Aviation Feb 2010