deccan 360
MUMBAI: Captain Gopinath, pioneer of low-cost flying in India, will start his second innings in aviation by launching a dedicated air cargo business, branded Deccan 360, on Wednesday in Nagpur.
Mr Gopinath has already invested Rs 125 crore in the cargo venture Deccan Express, and needs to raise an additional Rs 150 crore.
Captain Gopinath
The venture would hire about 5,000 people in five years. In the first phase, the company plans to appoint 100 franchisees and each franchisee will hire 10 people. It will fly three Airbus A310 planes and seven smaller ATR planes to connect 17 Indian cities and international destinations like Dubai and Hong Kong.
With not much finance coming to fund his cargo venture due to the slowdown, Mr Gopinath sold his stake in Kingfisher Airlines to raise funds.
