April 26, 2007: From airwaves to aviation is what southern India based broadcaster Sun TV is planning next. The television network, which has been riding the wave of success running as many as 20 regional television channels, is now seeing a sea of opportunities in the aviation industry.

Meawhile, reports said that rumours have been floating around for quite sometime about Sun TV’s possible foray into the aviation business, the company had denied them in the past. The rumours have been confirmed by the company itself now. Reports added that the company has been cleared by the Cenre to acquire or lease two Bombardier aircraft, which is believed to be used by company’s top executives.

Sun TV, which has already informed the Bombay Stock Exchange that it will be making its aviation foray, would make its presence in both passenger and freight services in both the domestic and the international sectors. The company board is scheduled to meet on April 24 to consider the issue of bonus shares. The resolutions at the meet include increasing the authorised capital of the company to Rs 225 crore from the present Rs 100 crore, a report said.

Meanwhile, the resolution on the airline foray, as communicated to the BSE, seeks the approval of the members of the company to enable it to buy, take on lease and / hire or otherwise, own, employ, maintain, work, manage, control, let on hire, charter, lease all forms of aerial conveyance for the purpose of transporting or carrying passengers, baggage, mail and freight and merchandise of all and every kind and description whether as principals, agents or otherwise on national and international routes and to maintain, operate and provide chartered domestic and international aviation services, scheduled domestic and international aviation services both for commercial and non commercial purposes in India and outside India, the report added.