Blue Dart Aviation (BZ, Chennai) intends to purchase a pair of B737-800(F)s from sales alliance partner and major shareholder, DHL Express/Deutsche Post AG, Germany (DHL). The acquisition was flagged in a November 23 Bombay Stock Exchange (BSE) filing and will cost Blue Dart approximately INR4.1 billion rupees (USD50 million).
In the filing, Blue Dart Express, parent company of Blue Dart Aviation, said the aircraft were essential if Blue Dart was to maintain its position as India's top domestic freight airline and to accommodate anticipated year-on-year annual cargo growth rates of 6%.
Blue Dart Aviation presently operates six B757-200(PCF)s, three of which are owned by the company and three which are leased from DHL. The German logistics company has been working with Blue Dart since 2002 and acquired an 81.03% stake in the business in 2005, since trimmed back to a 75% shareholding.
Blue Dart Aviation intends to fund the aircraft purchase from DHL Aviation (Netherlands) B.V with an INR2.5 billion (USD30.4 million) loan from DHL Logistics Private Ltd with the remainder being provided by parent company Blue Dart Express. The BSE filing gave notice of a shareholder vote on the matter. The result will be announced on or before December 26, 2022.
