Cabin crew schools eye IPOs, PE deals

Mumbai: Three firms that train cabin crew and other staff for India’s booming aviation sector are looking to sell shares as part of an initial public offering (IPO) next year to raise money to fund their expansion plans. Some of the firms are also wooing private equity (PE) funds.
Air Hostess Academy Pvt. Ltd (AHA), Frankfinn Institute of Air Hostess Training and Avalon Aviation Academy are the firms lining up IPOs. Apart from training cabin crew, these firms also train people in various aspects related to the functioning of airports and airlines, including ground handling, ticketing and customerrelationship.
AHA plans to open centres in Australia and the UK by next year. According to estimates by World Travel & Tourism Council, India will have at least 1.5 million openings in aviation and related industries by 2010. In 2007 alone, AHA estimates show, India’s private airlines will create 8,000 new jobs.
The Mumbai-based Frankfinn Institute is also in talks with private equity firms even as it prepares for an IPO by mid-2008.
Mumbai-based Avalon Aviation Academy is also considering an IPO, according to a company executive who did not wish to be identified. The executive added that the company is not looking for PE investors.
17/09/07 P.R. Sanjai/Livemint