Gati enters into agreement with Indian Airlines

Gati Ltd has announced that the Company has signed and entered into an agreement with Indian Airlines for Wet Lease agreement for five B737-200 Freighter Aircrafts for a period of 5 years for running these Cargo Freighters on various routes covering all metros and other parts of the country for expanding its business and which can be extended for further periods by mutual consent.

Both, the Company and Indian Airlines shall jointly do branding, advertisement & launch related activities. The freighter B737 Aircrafts shall be painted with logos of Indian or (new identity) & Gati or (new identity).

The tentative schedule of Aircrafts induction for operation would be July, September, October, November 2007 and January 2008.

The above Leased Aircrafts shall have a valid certificate of Airworthiness to be issued by the Department of Civil Aviation of India for carrying out transportation of Cargo Freighters.

Source : Equity Bulls

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