New Delhi: Aiming to tap the untouched potential of the cargo and logistics sector, the first commercial flight of ‘Deccan 360’, a new cargo and express logistics venture took off from Indira Gandhi International airport for Hong Kong on Wednesday.
With this launch, the airlines has formally started its services on the Delhi-Mumbai-Chennai-Hong Kong-Dubai sector five times a week. “This will provide us an opportunity to tap the potential of the cargo and logistics sector, which was untouched till date,” Captain Gopinath, MD of Air Deccan said during the event.
Deccan 360 has acquired five Airbus A-310 aircraft, of which payment of three has already been made.
The company will also have six smaller ATR aircraft which will carry cargo to and from the interiors of the country to metro cities. The venture has been set up with an initial investment of $25 million with Captain Gopinath being the sole promoter.
“Some investors have, however, already shown interest in picking up a stake in the company,” said Gopinath who refused to name the investors. He however added, the company would require another $25-30 million to scale up its operations. The company would be functioning on the hub-and-spoke model for which it is developing facilities at Multi-modal International Hub Airport at Nagpur (MIHAN).