Mumbai: Air India is banking on new airlines in the Indian airspace to help its ground handling unit generate revenues of up to Rs 900 crore over the next three years.
“With many new airlines set to venture into India, we are confident that Air India Air Transport Services Ltd (AIATSL) would be their preferred partner for ground handling, as we have an automatic mandate to operate in any part of the country,” said S. Venkat, Director - Finance, Air India. Last September, Tata Sons announced a joint venture with Singapore Airlines to enter the Indian aviation market, with a proposal to invest $100 million in a full-service airline. Prior to that, Tata Group joined hands with Air Asia and Telestra Tradeplace to form a local low-fare airline. Malaysia’s Malindo Air is also keen to launch services from Mumbai and Ahmedabad to Kuala Lumpur.
AIATSL which was hived off as a separate entity in 2012 as part of the carrier’s turnaround strategy, had a turnover of Rs 600 crore as on March 31, 2013, Venkat said on the sidelines of a press briefing here on Monday.
Read News in full 13/01/14 Business Line
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