Deccan Chronicle group firm to start dedicated air freighter service

10 May 2007

Mumbai: Flyington Freighters, a group company of Deccan Chronicle Holdings, would start cargo freight operations from July this year. The company, promoted by the Reddy family, will invest $1 billion in this venture.

"We will be investing $1billion in this venture, which will be India''s first international dedicated freighter air-service," T Venkatram Reddy, chairman, Deccan Chronicle Holdings, said.

Headquartered in Hyderabad, the service will fly international routes to China, the Middle East, Africa and Europe. The company has no plans for domestic operations owing to poor business prospects, he said.

Flyington has already placed orders for six A-330-200 F aircraft, costing $175 million each, with Airbus and deliveries will commence from July 2009, Reddy said, adding, until then, Flyington will operate on leased aircraft provided by Airbus.

"We have assessed the market and saw huge opportunity. Since there are no other players, there is no competition. Our intention to venture into this area is to exploit that huge untapped opportunity," Reddy said.