Air Deccan to raise 100 million dollars through equity

Kolkata, Apr 20 (UNI) Deccan Aviation Ltd, which runs budget carrier Air Deccan, will raise about 100 million dollars shortly from private equity investors to fund its expansion programmes.

" We are going to raise up to 100 million dollars from equity inestment. We have mandated Edelweiss to find an investor, " company Managing Director G R Gopinath today said.

Announcing that the company had a plan to induct in its fleet a total of 80 aircraft in 80 months, Mr Gopinath said the destination network for the carrier would expand to at least eight non-metros this year.

The company would shorlty double the number of its ATR and Airbus aircraft from the present four and two respectively.

" The next month we are starting operation from Leh in Ladakh to be followed by Ludhiana, Jamshedpur, Bodhgaya, Solapur, Coochbehar, Rourkela and Jorhat in a short span of few months, " he said.

The MD said the carrier, giving thrust on creating infrusstructure, would have its first hanger ready for use in Chennai next month, to be followed by another in Kolkata in three months time.

" We are focusing more on Kolkata as a major hub for us. The number of flights in the eastern region will also go up to 53 from the present 43 per day very shortly, " he said.

UNI