http://timesofindia.indiatimes.com/articleshow/1651962.cms 

NRI aviator plans US-India airline
Byas Anand
[ Thursday, June 15, 2006 11:34:06 pmTIMES NEWS NETWORK ]
 
 
NEW DELHI: An America-based entrepreneur is all set to join the burgeoning list of wannabe Indian aviators. But this former pilot-cum-hotelier plans to go a step further and float an international low-fare airline that would mark its debut with direct flights between US and India.

Rahul Puranik backed by equity investors from America and UK has sought the Federal Aviation Authority (FAA) nod to set up this new airline venture, christened Sapphire Airways. "It will be a venture with $100 million start-up equity capital.

We are working with FAA for the venture and hope to get all the clearances within the next six to eight months," Puranik, founder and chairman of Sapphire Airways, told ToI from US.

The airline, he said, intends to use the Indo-US Open Sky arrangement to start direct flights between India and America within the next 15-18 months. This will make Sapphire the third American carrier after Continental Airlines and American Airlines to start direct flights to India.

"It will be a full-service airline offering discount fare travel. We intend to launch the airline with a direct service from US to India, connecting at least four metros Delhi, Mumbai, Chennai and Bangalore. In the next phase, our plan is to expand to Africa and Asia, to connect Nairobi, South Africa, Dubai and China," Puranik said.

The airline, which has appointed Centre for Asia Pacific Aviation to conduct its project feasibility, has shortlisted Boeing 777 and Airbus A340 as the preferred aircraft for its start-up fleet.  

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So after Bance Air, the new airline to fly to India soon from London and started by the the Flying Sikh who calls himself Richard Bance, this will be the next airline. Bance Air is to operate 4 777s to Amritsar, Delhi, Ahmedabad and four metros ---Delhi, Chennai, Mumbai and Kolkata.