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Blue Dart plans to buy 6th aircraft to increase cargo capacity
INDIA's logistics provider Blue Dart Express plans to acquire an aircraft by November to raise its air cargo handling capacity, the company announced in a bourse filing.
Blue Dart Aviation has five Boeing 757s, which provides a network payload of 300 tonnes across 60 routes each night, its website said.
In a Bombay Stock Exchange filing, Blue Dart said it will seek shareholders' approval for an aircraft acquisition at its annual general meeting on July 29, reports the Press Trust of India.
Blue Dart will seek shareholders consent for availing of services from Blue Dart Aviation Ltd (BDAL) as contained in Aircraft, Crew, Maintenance and Insurance (ACMI) Agreement to be renewed from March 11, 2015 to September 30, 2016, it said.
Blue Dart holds 49 per cent of BDAL, and by virtue of the same, BDAL is an associate of the firm, the filing added.
The renewal of ACMI contract includes an estimated value of transaction from March 11, 2015 to March 31, 2016 of INR7.2 billion (US$113.2 million) and an estimated value of transaction from April 1, 2016 to September 30, 2016 of INR4 billion, it added.
"It is proposed to add one aircraft during November, 2015 to increase the air carriage capacity which will result in increased cost of operation," said the company.
"Such increase has been factored in the estimated value of the transaction from March 11, 2015 to March 31, 2016," it said.
Blue Dart Express has entered into ACMI contract with BDAL for a dedicated air carriage capacity to ensure strong support in sustaining its leadership position in its business.
Blue Dart Aviation has five Boeing 757s, which provides a network payload of 300 tonnes across 60 routes each night, its website said.
In a Bombay Stock Exchange filing, Blue Dart said it will seek shareholders' approval for an aircraft acquisition at its annual general meeting on July 29, reports the Press Trust of India.
Blue Dart will seek shareholders consent for availing of services from Blue Dart Aviation Ltd (BDAL) as contained in Aircraft, Crew, Maintenance and Insurance (ACMI) Agreement to be renewed from March 11, 2015 to September 30, 2016, it said.
Blue Dart holds 49 per cent of BDAL, and by virtue of the same, BDAL is an associate of the firm, the filing added.
The renewal of ACMI contract includes an estimated value of transaction from March 11, 2015 to March 31, 2016 of INR7.2 billion (US$113.2 million) and an estimated value of transaction from April 1, 2016 to September 30, 2016 of INR4 billion, it added.
"It is proposed to add one aircraft during November, 2015 to increase the air carriage capacity which will result in increased cost of operation," said the company.
"Such increase has been factored in the estimated value of the transaction from March 11, 2015 to March 31, 2016," it said.
Blue Dart Express has entered into ACMI contract with BDAL for a dedicated air carriage capacity to ensure strong support in sustaining its leadership position in its business.
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