One Air (HC, London Heathrow) has applied for a US Foreign Air Carrier Permit (FACP) and an exemption to launch to conduct charter air transportation of property and mail between the United Kingdom and the United States using its B747-400(BDSF) equipment.

The British cargo ACMI/charter start-up gained its Air Operator’s Certificate last month before securing its Operating Licence from the UK Civil Aviation Authority. In its FACP application, it disclosed that while all of its operational and management team members are UK citizens, Indian citizen Guneet Mirchandani owns 49% of the shares in One Air Ltd., and British national Paul Bennett, One Air’s chief executive, owns 51%.

It further said that Mirchandani, a non-executive director at One Air, holds a 49% stake in the Moldovan cargo airline Aerotranscargo (F5, Chisinau International); an 80% stake in UK-based cargo charter broker Air One Aviation; and 100% of AeroTransCargo FZE, a cargo logistics and aircraft lessor based in the United Arab Emirates. Bennett holds a 20% share of Air One Aviation.

There are no other direct or indirect interests in any US or foreign air carrier or any individual engaged in the business of aviation holding an interest in One Air, the application said.

One Air said it would initially operate the B747-400(F) but added: “We will grow our operation by adding capacity - but only when it is fiscally prudent so to do. We intend to add aircraft from elsewhere in the family of companies of which we are part, but will move to acquire more modern aircraft (potentially the Boeing 777F) when this is sensible for the business.”

As ch-aviation reported in September 2022, Sharjah-based AeroTransCargo FZE had signed up investment banks to sell USD300 million in senior unsecured bonds, with the aim of using most of the funds raised to purchase used B777s for likely conversion into B777-Fs.

For now, One Air operates a single B747-400(BDSF), G-UNET (msn 25075), formerly ER-BBB with Aerotranscargo, which is currently in maintenance at Frankfurt Hahn, the ch-aviation fleets module shows. It has said that it plans to add a second by the end of the year.

One Air did not respond to ch-aviation’s request for added commentary.