Cardinal Aviation Partners (CAP), a Singapore firm, has entered into an agreement with AFL Logistics, the logistics and supply chain management subsidiary of the Mumbai-based AFL group, to start a domestic cargo airline venture in India, Quickjet.

According to sources, CAP will hold majority stake in the new airline while AFL Logistics will have a 13 per cent share.

"We have entered into an agreement with CAP and intend to launch the service by December 2008," said an unnamed top AFL executive.

Quickjet will offer services with a pair of 757s, and will grow larger if there is demand, but it is unclear at this stage which routes the proposed freight carrier will ply.