Gopinath may acquire Crescent Air Cargo

Via Acquire Media NewsEdge) Jul. 24--BANGALORE, India -- After being at the receiving end of a takeover deal, the man who revolutionized Indian aviation, Capt G R Gopinath, looks close to making an acquisition to quick-start his cargo venture. According to sources who requested anonymity, Gopinath is holding talks with Bangalore-headquartered cargo company Crescent Air Cargo a company owned by mining baron Santosh Lad for an acquisition. The deal may be priced at over Rs 50 crore. What Gopinath would be primarily buying out would be the infrastructure and airport permits of Crescent Air. Senior officials from Deccan Cargo have held talks with the top brass of Crescent Air Cargo. There is scheduled to be another round of talks this week, said a source. Crescent operates a single Fokker-50 aircraft that has a freight capacity... [read full story]