Abhay Lodha promoted logistics start-up Avicore Aviation Pvt. Ltd and plans to invest $100 million, or about Rs400 crore, to launch a new cargo airline mid-2008 from the country’s first dedicated cargo airport at Nagpur. The start-up is backed by Indian and some US-based non-resident Indian businessmen through Avicore Llc.
Abhay Lodha has interest in steel and power plants, along with Avicore Aviation chief executive Shankar Devarajan. Abhay Lodha Avicore is the third firm that has applied to the government for a licence to launch a cargo airline. Interest in the country’s air cargo business comes after a three-year boom in passenger services among airlines in India.
Leading businesses in the sector, including Jet Airways (India) Ltd, for instance, are planning dedicated cargo airlines. Of the 250 planes flying domestic routes, just a dozen are freighter planes, the rest being passenger jets. The demand for air cargo services is expected to grow in India as investment increasingly flows into manufacturing businesses in the country.
Read More Abhay Lodha Livemint
Abhay Lodha has interest in steel and power plants, along with Avicore Aviation chief executive Shankar Devarajan. Abhay Lodha Avicore is the third firm that has applied to the government for a licence to launch a cargo airline. Interest in the country’s air cargo business comes after a three-year boom in passenger services among airlines in India.
Leading businesses in the sector, including Jet Airways (India) Ltd, for instance, are planning dedicated cargo airlines. Of the 250 planes flying domestic routes, just a dozen are freighter planes, the rest being passenger jets. The demand for air cargo services is expected to grow in India as investment increasingly flows into manufacturing businesses in the country.
Read More Abhay Lodha Livemint
No comments:
Post a Comment