30/07/10, 05:40:11 EDT

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Indian airline in talks to launch cargo carrier

thestar.com

Jet Airways (India) Ltd., the country's biggest domestic carrier, says it is in talks to start a cargo airline.

"We will make an announcement before the end of 2007," Naresh Goyal, billionaire chair of Jet Airways, told reporters in New Delhi yesterday. "We are talking to very, very serious partners on starting a cargo airline."

State-run rival Air India began a cargo service earlier this year as part of a revival plan that involved a merger with Indian Airlines to regain market share from Jet.

Jet's plan to raise $400 million (U.S.) by selling shares to existing shareholders will be delayed two to three months. awaiting the "right" market conditions, Goyal said.

 Printable Version  | published Sep 05, 2007