The Hindu Business Line : Air Deccan hopeful of billing $1 b in 6-7 years

THE country's only low-cost airline, Air Deccan, hopes to notch up revenues of a $1 billion within the next 6-7 years, the airline Managing Director, Captain G.R. Gopinath, said here on Friday.

"The way the sector is growing and the manner in which we are expanding we will become a $1-billion company in the next six-seven years," Captain Gopinath said.

At present, the airline has reported revenues of $90 million this year that it hopes would more than double to around $200 million by the following year. Air Deccan is a unit of Deccan Aviation Pvt Ltd , the country's largest private heli-charter company.

The airline is to induct 30 Airbus A-320 and 30 ATR aircraft shortly. The airline operates A-320 aircraft on trunk routes while the smaller ATR aircraft is operated on non-metro routes.

Talking about the future plans of the airline, Captain Gopinath said that eventually his holding in the company would come down steadily. "We are interested in creating wealth for our investors and not be known as a family company, although there is nothing wrong in being a family company," he said.

The airline that recently entered into a deal with ICICI and Venture One to raise $40 million also plans to go public in the next 12-18 months.

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