Vaayu Group invests in Indian cargo carrier
17 / 11 / 2023
World’s first A320P2F. Photo: ST Engineering
UAE-headquartered Vaayu Group has signed an agreement to be a strategic investor in non-scheduled Indian cargo carrier Pradhaan Air Express.
The deal was announced on the sidelines of the Dubai Airshow on November 16.
Based in New Delhi, Pradhaan Air Express operates the world’s first A320P2F aircraft, which was leased from Vaayu last year and has been in commercial service since October 2022.
ST Engineering and Elbe Flugzeugwerke (EFW) redelivered the first Airbus A320 Passenger-to-Freighter (P2F) aircraft to launch customer, Vaayu in July 2022.
The A320P2F aircraft is owned by the aviation asset management business of ST Engineering, and is the first of several converted freighter aircraft being leased to Ras Al Khaimah-based Vaayu.
Vaayu plans to expand its footprint in the air cargo space with the addition of two more A320P2Fs by 2024 to increase its capacity and network.
And Pradhaan Air Express, which operates domestic and international cargo routes, plans to add two aircraft every year starting from 2024.
Nipun Anand, founder and chief executive, Pradhaan Air Express, said: “We are pleased with the fact that Vaayu has joined us since they bring with them a great record in the aviation sector. Their invaluable expertise and their single-minded plans to increase cargo capacity bodes well for us.”
He added: “The Airbus range of freighter aircraft is impressive and will add immense value to Pradhaan’s plans.”
Emad AlMonayea, chairman and president, Vaayu Group, said: “Vaayu’s vision is to become a significant player in the air cargo space in the years to come. This move with Pradhaan is quite strategic considering the opportunities it presents between the two regions. We are quite hopeful that we are flying in the right direction.”
Especially suited to express domestic and regional operations, the A320P2F can accommodate up to 10 [ULD] containers and one pallet position in the main deck, and seven container positions in the lower deck.
ST Engineering and EFW redeliver world’s first A320 converted freighter to Vaayu Group
