New UK Long Haul Airline

…

UK real-estate firm Bance plans UK-India start-up
Kerry Ezard, London (10Apr06, 09:51 GMT, 341 words)

UK real estate investment and distribution company Bance Group is planning to launch a new international carrier that will initially operate service between London Heathrow and India using a fleet of leased Boeing 777s.

The company’s chairman Dave Bance tells ATI that the airline, which will be called Bance Air, aims to obtain its air operator certificate (AOC) and begin services by the end of this year.

Bance does not say how many 777s the carrier will operate, or from where they will be leased.

“We plan to launch our airline initially to various routes in India for the first year and then add routes to other countries,” says Bance. “We will be launching one flight per day, first with a particular sector, and will then increase our flight frequency per day and week on other sectors.”

He does not disclose specifically which routes the carrier plans to operate.

Bance Air’s long-term plan is to become an international airline with other-country routes within three years, specialising in point-to-point travel, adds the chairman. It will also “look very closely” at the cargo sector.

The start-up will not be a “no frills” airline, says Bance, and instead aims to offer in-flight entertainment (IFE) that is “as good as our international competitors’”.

Bance Group has invested an initial £23 million ($40 million) in the new airline and is seeking further investment from external sources.

“We are looking at proposals of additional funding from private investors that have come forward themselves and believe in our business model, and we are also exploring other options such as equity- and venture-capital funding,” notes Bance.

The company has spent the last year interviewing for senior management positions at Bance Air, and has narrowed down candidates for CEO, director of flight operations and sales and marketing.

“We are still looking at further prospective candidates; however, the importance for any candidate is industry experience and aggressiveness to fit in and handle our expansion plans,” says Bance, who will be the carrier’s chairman and principally involved in strategically developing the airline.

Source: Air Transport Intelligence news