Captain GR Gopinath, the pioneer of low-cost airline in India, is all set to take a second shot at the business.
An empowered committee of the civil aviation ministry had given the go-ahead to Gopinath, the man behind Air Deccan – India’s first budget carrier – to start a scheduled carrier, sources told HT.Kingfisher chiarman Vijay Mallya had acquired Air Deccan from Gopinath in 2008 and turned it into Kingfisher Red, which recently shut down.
A five-year non-compete clause that was part of the deal with Mallya would end shortly, said sources.
“As per the business plan that had been submitted, the proposed airline would have more than adequate equity base,” a source said.
Gopinath’s proposal comes at a time when the government is on the verge of clearing foreign direct investment by foreign airlines into Indian carriers.
Gopinath had applied for permission for a regional airline last year but the project did not take off. The latest proposal includes operations to various Indian cities including Delhi, Mumbai, Bangalore, Hyderabad, Pune, Goa, Jaipur and is likely to have a fleet of Airbus and ATR aircraft, which would be taken on lease.
{{/usCountry}}Gopinath had applied for permission for a regional airline last year but the project did not take off. The latest proposal includes operations to various Indian cities including Delhi, Mumbai, Bangalore, Hyderabad, Pune, Goa, Jaipur and is likely to have a fleet of Airbus and ATR aircraft, which would be taken on lease.
{{/usCountry}}Gopinath did not respond to calls and email from HT.