Start-up logistics operator, Aryan Cargo, to launch operations by August
04 April 2008
New Delhi: New Delhi-based logistics start-up Aryan Cargo Express Pvt Ltd said it will begin non-scheduled domestic and international cargo operations from August this year, making the announcement soon after it received required approvals from the ministry of civil aviation this week.
Aryan will now join two other dedicated cargo operators, Blue Dart Aviation Ltd and National Aviation Co of India Ltd's, Air India Cargo, into tapping a local market estimated at 1.5 million tonnes a year.
Other service providers set to launch operations are Avicore Aviation Pvt. Ltd, Aviation Consultants Pvt. Ltd's, QuikJet and Deccan Chronicle Holdings Ltd's, Flyington Freighters.
Aryan said it will launch services with an initial capital of $60 million (Rs240 crore) and a fleet of three Airbus A310 freighters. The operator also plans to locate a hub in Dubai.
The carrier currently has a fleet of three Boeing 757-200 freighter aircraft. It expects to expand to a fleet size of eight by March next year, enabling it to get into scheduled operations, and eventually to 12 aircraft in its second year of operations.
Dubai-based Kellett and Singleton Investments Ltd, a business group with interests in logistics, shipping and tourism, will hold a 20 per cent stake in Aryan Cargo. Other promoters include Aryan's managing director, Mukul Pathak, and businessman Rishi Raj Singh Dungarpur.
Aryan Cargo will operate domestic services from Delhi for Mumbai, Kolkata, Chennai and Kochi and serve international destinations in China, Korea, Japan, Hong Kong, Vietnam and Dubai.
A Centre for Asia Pacific Aviation study ranks India among top 30 freighter markets in the world. The cargo market is projected to grow 20-30 per cent for the next ten years.