Financial Times

Holiday Air in $6 mln deal
Holiday Air, the low cost airline billed to start its international passenger operations in less than six months, will be finalising a strategic partner – an investment deal with an international airline in the first week of January.

Arjun Ruzaik, CEO, Holiday Air, did not disclose the name of the airline but said it is a renowned Asian airline. “We are on the verge of closing a deal with an international airline, operating in the Asian region, which will come in as our strategic partner and they will invest about US$ 6 million,” he said.

He said before the end of 2006, the airline will be lobbying with the Civil Aviation Authority (CAA) for 17 routes in the Far East, Middle East, Europe and Australasia. Holiday Air, along with the two other low cost carriers, Deccan Air and Expo Air were granted approval by the CAA to fly four routes - Kochin, Calicut, Trichy and Trivandrum.

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