Astral Aviation to set up 3 cargo subsidiaries, new AOC ventures in ME, Europe, Australia

Sanjeev Gadhia, CEO of Kenya’s Astral Aviation said the company is planning to set up three more cargo subsidiaries following its new JV Suid Cargo Airlines in South Africa and new AOC ventures in the Middle East, Europe, and Australia. The company also has plans to divest 70 per cent stake in Astral to raise money. He further informed that he is planning to retain at least 51 per cent of Astral Aviation to comply with Kenyan ownership requirements, with unnamed strategic investors taking a 40-45 per cent shareholding. Gadhia also said Astral is keen to take a stake in new Indian cargo carrier, Pradhaan Air Express, which he helped launch last year by providing it with the world’s first A320-200(P2F). A second A320P2F would join the start-up’s fleet this year. Gadhia was also evaluating A321 and A330-300(P2F)s for the new carrier.