Jet Express, India's new cargo airline, set to launch in Q1 2026

Jet Freight Logistics, the Mumbai-based freight forwarding company listed on both the BSE and NSE, is set to launch a new Indian cargo airline named Jet Express in the first quarter of 2026. The airline will begin operations with one to two Airbus A330-300 passenger-to-freighter (P2F) aircraft.

The company will soon initiate the process to acquire an Air Operator's Certificate (AOC). According to Richard Theknath, Chairman and Managing Director of Jet Freight Logistics, Jet Express will either operate as a subsidiary of the listed entity or be established as a completely separate company.

Last week, Elbe Flugzeugwerke (EFW) — the joint venture between ST Engineering and Airbus — announced Jet Freight Logistics as the launch customer for its Airbus A330 P2F programme. The announcement came alongside a multi-aircraft agreement signed with UAE-based investment firm Capital Partners (Confity).

While the aircraft will “most probably” be owned by the new airline, Theknath noted that investors Confity and SecLink Group will be key financial backers. “It’s still too early to say whether we will lease the aircraft or operate them entirely under Jet Express,” he said.

The A330-300P2F is a mid-size freighter capable of carrying up to 62 tonnes of payload and offering a range of 3,700 nautical miles, according to Airbus.

The conversion process for both aircraft is expected to begin in the last quarter of this year and will take about six months. Theknath anticipates delivery in the first quarter of 2026.

While Jet Freight Logistics has received verbal confirmation from EFW for the conversion slot of the first aircraft, Theknath noted, "It all depends on EFW. It also depends on whether they are able to deliver the aircraft, and there are other variables involved."

The company plans to deploy its freighters on routes between India and Europe and India and Africa, with Delhi and Mumbai serving as hubs for each aircraft.

Theknath had first floated the idea of launching an Indian cargo airline in an exclusive interview with Indian Transport & Logistics News in February 2022. However, he cited market uncertainty as the reason for the delay.

"The market was very volatile and not really stable. We couldn't get a clear idea of whether it was the right time to move forward. That’s why we decided to slow down the process. There was a lot of overcapacity with commercial airlines, and issues like the Red Sea crisis added to the uncertainty. We weren’t sure how the market would pan out. Now, we have a clearer picture. Although some level of uncertainty is good for business, we still need to understand the stability of market pricing. At least now, we have some idea, and we can start looking at it again," he explained.

Initially, in 2022, Theknath had considered launching operations with the larger B777 or B747 freighters. However, he ultimately opted for the A330-300P2F, citing shorter waiting times and better operational fit.

"The waiting time for larger aircraft like the 777s and 747s was too long, and there were other factors as well. The size of the A330 is a much better fit for us," he said.