Flying Freighters signs deal for 6 A330-200s

Flyington Freighters, a cargo airline company promoted by Hyderabad-based publishing group Deccan Chronicle, have signed an agreement for acquiring for six A330-200F aircraft from Airbus Industrie. The listed price for six freighters are estimated at $1.1 billion.

Earlier, the company had signed $1 billion deal with Boeing to acquire four B777 freighters.

Flyington Freighters is the first cargo airline to order the A330-200F, which is the latest freighter from Airbus. The first aircraft will join the fleet in the second half of 2009.

The company was initially planning to start its cargo operations by December 2006. "We are happy to be the first cargo airline to order the A330-200 Freighter. We ordered it because it offers us significant operational benefits and suits our business model," said T Venkattram Reddy, Chairman, Flyington Freighters.

The A330-200F is the only mid-size, long-haul all-cargo aircraft capable of carrying 64 metric tonne over 4000 nautical miles. The A330-200F offers 30 percent more volume than any freighter in its class.

Currently, there is no domestic company is involved in international cargo airline services. Blue Dart Aviation is the only domestic player in cargo airline segment. Courier firm First Flight had also forayed into this sector recently with three leased aircraft in last year.

"India is one of the world's most important aviation markets right now and the development of locally based freight operations will play a big part in the growth of the region's cargo market. The A330-200 freighter has more lift, more range and better flexibility than any other freighter in its class", said John Leahy, Airbus Chief Operating Officer, Customers.

One of the many advantages of the A330-200F is that it is the first freighter to introduce a versatile main-deck cargo loading system, which can accommodate both pallets and containers, enabling operators to service each of these very different markets.

Flyington Freighters is planning to make Hyderabad a hub for its cargo operations and will operate to China, East Asia, Hong Kong, Japan, Malaysia, Middle East, Los Angeles, New York and Europe.

Initial capital outlay for the company is estimated at $15 million, which will be contributed by promoters.