Grab an Italian masterpiece for less
This month, Sidhu, 56, took control of ailing Air Slovakia, and will inject $30m (£16m) into it over the next three years to buy aircraft, develop new routes and promote it as the flag carrier of the world’s widely travelled Sikhs and Punjabis.
Why would they want to travel via Bratislava? “It is well connected to the rest of Europe by Ryanair and others, to Vienna, to Germany. Customers pay £20 for a ticket to Bratislava and then get a direct flight to Amritsar for £200-£300 return,” he said.
Sidhu argues that Britain’s 500,000 Sikhs and Punjabis will gladly make the detour to travel home via Slovakia if they can enjoy the comfort of Punjabi food, music and films and be served by Punjabi flight attendants.
He is planning new flights to Delhi, Goa and Ahmedabad in Gujarat, new European destinations and a code-sharing deal with a leading Indian domestic airline.
Sidhu said his acquisition of Air Slovakia was a boyhood dream come true and highlighted how far he had risen since he arrived in London as a 16-year-old from Patiala in the Punjab.
“As a kid I always dreamt of owning an airline. When that dream comes true, you don’t want to mess up the chance.”
He began as a cashier in a Russian-owned petrol station in Ilford and within nine months had started to buy out his bosses.
“I built up to 35 stations and then sold some to Burmah and Shell. Now I’m in the wholesale petrol business,” he said.
Sidhu invested his gains in aviation, travel and commercial property and has built up a portfolio of assets in Canada, America and India, as well as Britain, worth more than £40m.
Last December he was appointed general sales agent for Air Slovakia in Italy, India and Britain and within three months was effectively controlling the company. “In February they had a financial setback — one of their planes was hit by a bird and damaged. They didn’t have enough money to replace it. I injected $2m in February and got them out of the problem. In March, as a payback, they made me a financial director,” he said.
Later he struck a deal to become the proud owner of a company with turnover of $30m.
“I won’t borrow money. I have enough to back my plans,” said Sidhu. “I should have gone on the rich list a long time ago, but I stopped it. I don’t want to say what I’m worth. I want to keep it under wraps and not have the taxman on me. My kids are good, intelligent kids. They are my wealth — in that sense I’m rich. God looks after me.”
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
With rail travel in Europe on the rise, we review the benefits of travelling by train
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
Shortcuts to help you find sections and articles
1998
£47,955
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
Check your free Experian credit report before applying
Car Insurance
to £60K + bonus (OTE £90k)
Lord Search & Selection
Location Flexible
PwC’s Consulting practice helps businesses of all shapes
and sizes work smarter and grow faster.
£85k
CPA
Highly Competitve
Specsavers
Whiteley, near Southampton
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
Book now & save over £100pp.
11 cool resorts, lowest prices... Early Booking offers 15 Nov.
20% off selected Azores holidays taken in October with Sunvil Discovery
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.