• Corporate
• Markets
• Info-Tech
• Marketing
• Money & Banking
• Agri-Biz & Commodities
• Industry & Economy
• Logistics
• Government
• Opinion
• Variety
• Corporate Results
• Columns
• States
• Web Extras
• Index

• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

• Rates

• Ports

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Subscription

• Business Line

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

MUMBAI: Deccan Chronicle Holdings on Wednesday announced Flyington Freighters, a group company, would start cargo freight operations from July this year. The Reddy family-promoted company will invest $1 billion in this venture.

"We will be investing $1-billion in this venture, which will be India's first international dedicated freighter air-service," Mr T Venkatram Reddy, Chairman, Deccan Chronicle Holdings said here. Headquartered in Hyderabad, the service will fly international routes, he said.

Flyington has already placed orders for six A-330-200 F aircraft with Airbus and deliveries will commence from July 2009, Mr Reddy added. In the interim, Flyington will operate on leased aircraft provided by Airbus.

The initial investment in the venture will be from internal accruals "but at a later date, we may consider tapping the capital market," Mr Reddy said. - PTI

Prev: Govt clears 15 new SEZs; holds back Reliance, Suzlon zones
Next: PM files nomination papers

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line