Zoom Air (India) (ZOM, Delhi International) has opened dialogue with potential investors as it seeks to raise INR1 billion Indian rupees (USD15.4 million) in fresh capital.
In an interview with India's Live Mint, airline managing director and CEO Koustav Dhar said the talks have focused on the sale of a 15% stake by the end of the Indian financial year (i.e. March 31) with a further 15% to be disposed of by the end of the current calender year.
“The airline, which is in advanced stage of talks with investors and private equity firms, hopes to raise this money before the end of the current fiscal,” Dhar said in an interview.
The added liquidity would be used to acquire additional aircraft needed to run Zoom Air's allocation of Indian government-allocated Regional Connectivity Scheme (RCS/UDAN) routes. As it stands, Zoom Air is expected to add two more CRJ200s to its current fleet of two by March 31. Thereafter, it plans to acquire four CRJ900s in November this year.
“We are looking at connecting Nagaland, Arunachal Pradesh, Assam and other states in the region with Kolkata and Guwahati as hubs,” he added.
Amphibians are also being studied for potential service in regions such as West Bengal, Assam, and Orissa. The first such aircraft could arrive as early as October, he said.
In the longterm and once it is compliant, Zoom Air is also looking to start international flights to Bangladesh, Cambodia, Laos, Myanmar, and Vietnam.
