Mumbai: Air One Aviation Private Ltd - an integrated aviation player which is into air charter business, aircraft maintenance service, aviation consultancy, ground handling, aviation academy and promoted by former Air Sahara President Alok Sharma - is waiting for long term investors to start a schedule national airline in India, the company’s top executive said.
Long term financial investors and even foreign airlines are understood to be staying away from investing in new airline ventures due to uncertainty in India’s Civil Aviation Policy.
“No one has come to us with an investment proposal though we received NOC 16 months back. An opportunity exists for a full service carrier but because there is no clarity on Indian’s Aviation Policy more specifically on the 5/20 rule (5 years of domestic flying experience and a fleet of 20 aircraft to fly abroad), investors are not willing to commit funding,” Alok Sharma, Promoter and Director, Air One Aviation told The Hindu.
The company which operates under the brand name Air One received No Objection Certificate (NOC) from the Ministry of Civil Aviation in July 2014 along with other players to start a pan India domestic airline, but it is yet to approach the Directorate General of Civil Aviation (DGCA) for a flying permit. Unless renewed, the NOC will lapse in August 2016.
Two new airlines Turbo Megha which operates under the brand name TrueJet and Air Pegasus which started operations earlier this year reported market share of 0.3 per cent and 0.2 per cent respectively for September 2015.
17/11/15 Lalatendu Mishra/The Hindu
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Long term financial investors and even foreign airlines are understood to be staying away from investing in new airline ventures due to uncertainty in India’s Civil Aviation Policy.
“No one has come to us with an investment proposal though we received NOC 16 months back. An opportunity exists for a full service carrier but because there is no clarity on Indian’s Aviation Policy more specifically on the 5/20 rule (5 years of domestic flying experience and a fleet of 20 aircraft to fly abroad), investors are not willing to commit funding,” Alok Sharma, Promoter and Director, Air One Aviation told The Hindu.
The company which operates under the brand name Air One received No Objection Certificate (NOC) from the Ministry of Civil Aviation in July 2014 along with other players to start a pan India domestic airline, but it is yet to approach the Directorate General of Civil Aviation (DGCA) for a flying permit. Unless renewed, the NOC will lapse in August 2016.
Two new airlines Turbo Megha which operates under the brand name TrueJet and Air Pegasus which started operations earlier this year reported market share of 0.3 per cent and 0.2 per cent respectively for September 2015.
17/11/15 Lalatendu Mishra/The Hindu
