Deccan Chronicle to launch Flyington Freighters

11 May, 2007: Andhra Pradesh’s own paper Deccan Chronicle will soon have a flying cousin. With reports saying that the promoters of Deccan Chronicle Holdings Limited are all set to launch India's first international dedicated cargo airline, Flyington Freighters, in July this year with two leased Airbus A330-200F aircraft, the state’s largest read daily’s parent has something to cheer about.

It is learnt that the company has inked a purchase agreement for six A330-200F aircraft with Airbus. Deccan Chronicle Holdings plans to pump in US$ 1 billion in the air cargo business. According to the company brass, the initial investment would come through internal accruals. The company later on would go to the market to mop up resources.

With the deal on, Airbus would start delivering the aircraft from the second half of 2008-09 and the entire fleet of six aircraft would be delivered by 2009-10. Each aircraft would be priced US$ 175 million each, said a report.

Flyington Freighters will be based out of Hyderabad and would operate only internationally to China, Middle East, Africa and Europe. Poor business prospects seems to have made the company completely rule out domestic operations. It has also received all necessary approvals from the government.

According to the report the Hyderabad base has been chosen taking into account the locational advantages the city provides. The Andhra capital is seen as a perfect corridor between East and West.

With the country’s freight market large and fast growing at 6.2 per cent year-on-year, Flyington Freighters is expected to be right into good business from the word go.