Aniyan Kutty to Open International Bank in Bahrain
DUBAI, Oct 22, 2005
A Dubai-based Keralite Non-Resident Indian
businessman, Aniyan Kutty, will set up an international
bank with headquarters in Bahrain.
Aniyan Kutty, who also announced plans
to launch a budget airline in India, will start the
bank with an initial capital of 40 million dollars.
"We are currently looking for business
partnerships with other financial institutions in the
Gulf region," a newspaper quoted him as saying.
Kutty's no-frills domestic airline 'City
Air', with its headquarters in Madras, will begin operations
in January with Airbus A 320 and Boeing 737 aircraft,
operating 18 flights.
Mr Kutty interests also include shipping,
construction and software development. He and his wife
have a 34 per cent stake in "City Air" which
has a total investment of 22.13 million dollars.
Aniyan Kutty from Dubai announace "City Air"
Dubai, May 31, 2005
Dubai based, NRI business baron Aniyan Kutty's new
venture in animation, 'CGI Mantra'. The baron who
has diverse business interests ranging from construction
to advertising, steel to shipping and IT, is in spite
of his enormity as a wealth creator, a very modest
NRI, Kutty told that a private company had already
been registered in Kerala for running the airline.
To be called City Air, the new airline will be a budget
carrier and will have its operational headquarter
Unlike most other airline companies that have taken
off in the country recently, City Air will have the
advantage of functional software availability because
Clarions group company Dimensions develops aviation-related
software products, which can be used by the airline.
We have already had negotiations in the US
for leasing aircraft. In the beginning we will have
two Boeing 737-200 aircraft, Mr Kutty said,
adding the company intended to complete all formalities
and have the launch of the airline before the end
of this year.
The estimated investment is Rs 60 crore. Mr Kutty
said the debt component was yet to be decided, and
that the company may even decide to launch the company
on a zero-debt basis, depending on lease conditions.
Clarions decision to launch an airline registered
in Kerala comes at a time when Cochin International
Airport (CIAL) has become the first international
airport in Kerala to cross the landmark of 1 million
passengers during 2004-05.
CGI Mantra Mumbai facility, the billionaire Kutty
plans for CGI Mantra and how he plans to take the
Indian animation industry to the next level.
NRI, Kutty ventured into IT in the year 2000 with
the setting up of Dimensions Cybertech India which
is into providing IT solutions. The company provides
software solutions for two main verticals such as
scientific and engineering applications and enterprise
Our tryst with animation began at Dimensions when
animation producer KS Madhu, a classmate of the CEO
Binu Jacob, convinced him to do something in animation.
He e made a 26 minute 3D film titled 'Princess of
Persia' along with Madhu's firm Hibiscus India. The
film has featured in many festivals and also won an
Construction is one of the major contributors to
his total revenue. Around 1500 people are employed
in his construction business. Total number of people
employed across all his group companies are 2800.
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