Moving forward with its plans to launch a low-cost airline service, Frankfinn Aviation is now mulling a full service airline operation by 2009 end or the beginning of 2010.
The airhostess-training institute is also planning an IPO at the beginning of next year .
“We plan to operate both low-cost and higher end full service airline services."
The project is in an advanced phase and we are buying some time in order to avoid the present turbulent phase in the aviation industry resulting from the overall global slowdown,” a company source said to The Hindu Business Line.
Apart from the IPO route, the company may also invite equity participation from a foreign partner, he said.
Frankfinn had earlier said that it had plans to start only a low-cost airline, competing directly with majors such as Air Deccan, SpiceJet, GoAir and Indigo.
Finalise Project details
The company will operate its airline business under the Air Frankfinn brand and will initially start with six aircraft, Mr Samir Valia, Vice-President, Corporate Communication, told Business Line here, on the sidelines of a press conference. “Our corporate team in Mumbai is in the process of finalising project details. We will initially operate only domestically after getting the necessary approvals from the Government and our aircraft will constitute a mix of large Air bus and small ones,” he said.
An official said the aircraft basket will consist of three to four Airbus 380s and also a few ATRs.
The company has a target of achieving a fleet of 20-30 aircraft in three years. The company has appointed an aviation consultant to finalise the project, industry sources said.
Tie-up wth Jet Airways
Meanwhile, Frankfinn Airhostess Training Institute on Wednesday announced a tie-up with Jet Airways to familiarise its students with off and inflight procedures. The tie-up, however, is not a recruitment arrangement, Mr Valia clarified. The institute’s recruitment tie up with Air Deccan has been terminated, he said.
The company, which had registered a turnover of Rs 250 crore last year, plans to increase it by 25-30 per cent this year with 20-25 more centres coming up in the same period, Mr Valia said, reports The Hindu Business Line.
Source: Moneycontrol.com
Friday, May 9, 2008
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