INDIA: Another new cargo airline for India

India-based logistics start-up Avicore Aviation, has announced plans to invest US$100 million to launch a new cargo airline before mid-2008 from the country’s first dedicated cargo airport at Nagpur.

The start-up is backed by Indian and US-based non-resident Indian businessmen through Avicore’s US subsidiary.

The main Indian financier is Abhay Lodha, managing director of the Mumbai- based Topworth Group, which has interests in steel and power plants and Avicore Aviation’s chief executive Shankar Devarajan.

Avicore is the third firm that has applied to the government for a licence to launch a cargo airline.


SOURCE:http://www.payloadasia.com/article/india-another-new-cargo-airline-for-india/1446