India's Jet Airways to launch cargo unit

BOMBAY (XFNews ASIA) - Jet Airways is set to challenge the grip of foreign airlines on India's air cargo market when the country's largest private-sector carrier launches a rival freight service within 18 months, the Financial Times reported on its website. 

Naresh Goyal, Jet's chairman, said a dedicated cargo division would benefit from the increase in the movement of goods in India’s buoyant economy. “There’s lots of money in freight – it will be a good cushion.” 

The diversification will pitch Jet against heavyweights such as Lufthansa, Air France and Singapore Airlines that dominate the Indian air cargo market.