road runner

NEW DELHI: Having captured a majority share of the Indian skies, Naresh Goyal now seems to have set his sights on the Indian roads.

Goyal-promoted Jetair on Wednesday announced its entry into car rental market in a tie-up with former Volkswagen group company Europcar.

Jetair has set up a new subsidiary, Jetfleet, to venture into the car rental business. The firm, officials said, will start operations next month with a fleet of 30 cars, to be expanded to over 800 cars in the next two to three years.

"Jetfleet will be the master franchisee for Europcar in India and we will run the fleet services," Jetair chief executive officer Mahiyar M Sadri said. The tie-up marks Europcar's return to India five years after it exited the market.

"We feel the market wasn't mature enough then for the car rental business. Now, the Indian market is ready for this product," said Europcar's director (franchise network) Arnd Rieken.

Source: http://timesofindia.indiatimes.com/articleshow/2033272.cms