Frankfinn Group to invest Rs 400 crore for expansion
Air hostess training institute Frankfinn is looking at investing over Rs 400 crore over the next couple of years for increasing its national presence as well as global footprint, despite the recession and poor job market scenario.
“The recession has least affected the aviation industry as was portrayed. We have had good a recruitment season and keeping in tune we intend to increase both our international and national presence,” said K S Kohli, chairman, Frankfinn Group.
The Rs 700 crore company has chalked out a massive expansion plan this fiscal. “As far as our international expansion plan is concerned, we have chalked out an investment of Rs 400 crore for setting up 200 centres, Rs 2 crore for each centre and back home we plan to set up 50 more centres,” said Kohli.
The Rs 400 crore investment for international expansion would be over the next three years. This fiscal the company will set up 40 international centres with a special focus on Far East, Russia and African countries.
At present, Frankfinn has around 115 centres across the country. The company plans to add 50 more taking the count to 165 by the end of this fiscal. Of this, 15 new centres would come up in the eastern region alone.
At present, there are three centres in Kolkata and one more will be opened shortly. “The myth created by some leading aviation players in India that recession has taken its toll on the avaition industry is completely baseless. Aviation, hospitality, travel and tourism industries are least affected by the recession,” said Kohli.
To substantiate his argument Kohli pointed out that compared to the January-April period 2008, the peak season of recruitment, this year January to April saw an increase of 25 per cent as far as placements are concerned. Around 115 Frankfinn students were placed as cabin crew in a span of 15 days in February-March this year, of which 93 were for international airlines like Oman Air, Emirates, Malaysia Airlines etc.
Indigo has recruited another 50 students,Oman airlines is likely to absorb 300 students this fiscal. In Kolkata, 498 Frankfinn students got placement in the past one year, of which 43 were in the aviation industry alone, Kohli added.
Source: Business Standard