Air One Aviation (Delhi International) is set to enter the scheduled domestic Indian market during the first quarter of next year after it was awarded a No Objection Certificate (NOC) by the Indian Ministry of Civil Aviation earlier this week.
Founder Alok Sharma told the Times of India in an interview that the charter specialist's plan is backed by USD16.62million in venture capital.
"Our paid-up capital for the airline is well over Rs 100 crore. We are going to have a fleet of either Boeing 737 or Airbus A320 aircraft. Due to obvious business reasons, it will not be possible for me to divulge all our plans. All I can say at this stage is that it will be a full service airline India will be proud of and that it should begin flying by next March," he said.
The paper speculates Sharma could copy TATA Group's joint-venture with Singapore Airlines (SQ, Singapore Changi) - Tata SIA Airlines (Delhi International) - and search for a foreign partner.
Air One currently proffers a fleet of an E190 variant - the Lineage 1000 - along with two E135 variants - the ERJ Legacy 650 - and various helicopters to the local charter market.
