New owner of Air Deccan, Air Odisha plans to invest $10 mln in the embattled carriers
Hussein, who is a Director of Sharjah-based Ghalia Petrol LLC, said immediate fund infusion is required for the two airlines. "We are a majority stakeholder in GSec Monarch Private Ltd, which owns Air Deccan and Air Odisha... The investment is through family-owned enterprises. An Indian company (is) investing into it," he told PTI in an interview.
As Air Deccan and Air Odisha grapple with turbulent times, their new owner and Sharjah-based NRI Zahid Hussein plans to invest USD 10 mn initially as well as restructure the two airlines. Image source: PTI