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EasyAir launch this November
EasyAir will have to battle Indigo, Indus, East West, Omega, Magic, Suriya, Jagson and Air One.
BY OUR AVIATION CORRESPONDENT
May 10, 2006
EasyAir, a new private airline to be floated by NRIs based in US, is expected to start flying this year. The brand EasyAir will be owned by Premier Airways.
Predictably, Easy Air has taken the low-cost airline route to start operations. Premier Airways has already applied for necessary regulatory clearances so that Easy Air can start flying by November this year.
EasyAir will be based in Chennai. The company is chaired by Umapathy Pinaghapani, who has been in software business in the US before.
Easy Air is already in talks for leasing aircraft to start its flights. It is expected that EasyAir will start flying with Airbus SAS320 or Boeing 737. Initially, the airline will start flights with five leased planes, and later, the fleet size will be increased to 40 over a period of five years. According to Pinaghapani, the company
sees a lot of potential in the South. It hopes to tap a lot of the feeder routes in the South.
EasyAir will have a start-up capital of $60 million. Pinaghapani will be investing $20 million alongwith his partners. Later, the company may look at other options to raise funds, like a private equity placement or a bond issue.
EasyAir will have to battle several other low-budget airlines in India, current and upcoming. Low-cost airlines already in India include market leader Air Deccan, GoAir and SpiceJet. A bunch of lowcost airlines are slated to hit the skies soon, including Indigo Airlines, Indus Air, East West Airlines, Omega Air, Magic Air, Suriya Airline, Jagson Airways, and Air One.
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