Text size:

  • Small
  • Normal
  • Large

ETA Star Group to invest in Indian airports

ETA Star plans to expand operations in India to complement its soon-to-be-established regional airline.

ETA Star plans to invest in airports in India to complement its soon-to-be-established regional airline, in spite of the turbulence the market on the subcontinent is experiencing. "We are looking at smaller airports, probably in India, for commercial travel," said VP Nagarajan, the executive director of ETA Star in Dubai, which also has interests in construction and shipping. "We've been looking at a few airports but there is nothing concrete for us just yet."

ETA aims to launch Star Aviation in the first quarter of next year from its base in Chennai, after purchasing 10 small passengers jets from Embraer of Brazil - part of its recent pledge to spend US$1 billion (Dh3.67bn) on new projects for the Indian market. Currently, there were 45 active airports in Indian, 11 of which were international, Mr Nagarajan said. With rising incomes and an expanding middle class, India is a major target for the region's airlines.

However, a global credit crunch and rising oil prices have pummelled Indian carriers this year, with expected losses to exceed $1bn. "With these airport projects, we are not interested in it for today or tomorrow. but for the long term," Mr Nagarajan said, and professed confidence the market would "readjust" soon and begin making profits again. igale@thenational.ae

Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 An air traffic control tower is seen at the central terminal of LaGuardia Airport on April 8, 2014. Shannon Stapleton / Reuters

In pictures: New York’s LaGuardia Airport in need of a rebuild

With constraints on its resources and no appetite for further debt, private investors and developers are being tapped to rebuild the 50-year-old central terminal for $3.6 billion, instead of using traditional public finance methods.

 The bridge of Seajacks Hydra, as the wind farm installation vessel undergoes finishing touches and testing works at Lamprell’s Hamriyah facility in Sharjah before its planned delivery on June 2, 2014. Jeffrey E Biteng / The National

In pictures: Building the Seajacks Hydra

The Seajacks Hydra, a wind farm installation vessel, is undergoing finishing touches and testing works at Lamprell’s Hamriyah facility in Sharjah before its planned delivery on June 2, 2014.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 An Uber taxi driver drives his car through a street in New Delhi, India. Saurabh Das / AP Photo

In pictures: On-demand cab service app Uber targets India

Taxi-hailing smartphone app Uber is making a big push into Asia with the company starting operations in 18 cities in Asia and the South Pacific including Seoul, Shanghai, Bangkok, Hong Kong and five Indian cities in the last year.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National