Singapore start-up My Air Cargo is looking to acquire Boeing 757-200 converted freighters ahead of a planned April 2006 launch of scheduled cargo services within Asia.
My Air Cargo says it registered as a Singaporean business in early May and plans to apply for an air operator's certificate in July. The company says it has secured two lots of $25 million in funding, one from Singaporean investment firms and the other from investors in the Middle East.
According to the company's business plan, the delivery of a 757 freighter is called for early next year; a second 757 in late 2006; and two more by mid-2009. However, co-founders Logan Ravishankar and Ramesh Natesan say the carrier will also consider Airbus A300B4s. "The plan is predicated on the Boeing platform, but we can go with the A300B4 as an alternative," says Natesan, who will be the carrier's chief executive.
My Air Cargo has already been in talks with leasing companies which are converting 757s at Precision Conversions and Alcoa/Structural Integrity Engineering. But Natesan says delivery slots for early 2006 may not be available because of conversion delays at these companies.
BRENDAN SOBIE/SINGAPORE
Source: Flight International
