the catholic syrian bank limited ( csb ) is an indian private sector bank with its headquarters at thrissur , kerala , india .

it is one of the oldest banks in india .

the bank has a network of over 420 branches and more than 240 atms across india .

catholic syrian bank

catholic syrian bank <EOT> the board of directors of catholic syrian bank has appointed anand krishnamurthy as the new managing director & chief executive officer of catholic syrian bank .

catholic syrian bank federal bank bank of india m . venugopalan v . p . iswardas larsen & toubro bank of ayudhia ganesh bank of kurundwad tamilnad mercantile bank s . santhanakrishnan

for all the branches of " catholic syrian bank ltd . " in " thrissur " district )

catholic syrian bank ltd . branches , kerala , all branch addresses , phone , ifsc code , micr code , urltoken

thrissur : tony john akkare , s . swaminathan and prakash g . tole were re - elected members of the director board of catholic syrian bank on thursday .

catholic syrian bank ceo c . v . r . rajendran says the bank has hired jm financial as the merchant banker for the qualified institutional placement ( qip ) . photo : hemant mishra / mint

the products and services of the catholic syrian bank are meant to provide utmost customer satisfaction . by being a customer of the bank , one can be assured of financial stability and high returns . some of the well known segments under which the services of the bank are based are :

kochi : three new members were elected to the board of kerala - base catholic syrian bank ( csb ) on friday at the bank’s annual general body meeting . the new additions gain significance in light of almost year - long attempts to merge csb with kerala - based federal bank .

directors of the catholic syrian bank ltd are subbaiah singala , maniedath madhavan nambiar , ashish ahluwalia , madhavan karunakaran menon , thomas mathew , rajendran chinna veerappan , trikkur seetharaman anantharaman , radha unni , chirakkekaran bobbyjos , .

kochi : in what could be termed as a new year bonanza for thrissur - based catholic syrian bank ( csb ) , the reserve bank of india ( rbi ) has granted approval to fairfax financial holdings , promoted by canadian billionaire prem watsa , to buy majority stake in the bank .

the earliest banks were mostly on community lines , which is in line with both the indian and global experience . the malayali bank , promoted by namboodiris , was the first such bank in 1919 . this was followed by chaldean syrian bank , named after chaldean christians of thrissur . in 1921 , c . r . iyyunni , a lawyer and social activist , set up catholic syrian bank . tamil brahmins of thrissur formed their own dhanalakshmi bank in 1927 .

thrissur is home to three major banks—catholic syrian bank , dhanalakshmi bank and south indian bank . these banks are currently classified as old private sector banks—they are among the few managed to survive in the private banking sector over the years . their history is quite remarkable and needs to be discussed briefly .

ranking among the well known private banks in india , the catholic syrian bank is an organization that is preferred by lots of customers across the country . it offers a number of customized solutions and services of high standards to fulfill the needs and preferences of the customers and help them to enjoy financial stability . the catholic syrian bank has a strong presence in the rural areas in india and is a well known financial organization related to the agricultural sector .

the catholic syrian bank ltd ' s annual general meeting ( agm ) was last held on 25 september 2017 and as per records from ministry of corporate affairs ( mca ) , its balance sheet was last filed on 31 march 2017 .

welcome to the catholic syrian bank . incorporated in 1920 , csb is one of the pioneers of the banking industry in india . with a very progressive work environment and an increasingly youthful employee demographic , joining csb will give you space and opportunity to flourish .

insurance is a major part of the products and services of catholic syrian bank . there are long term insurance benefits as well as short term insurance benefits . one can avail car insurance , health insurance , housing insurance and lots more from the bank . some of the popular insurance products that are offered :

“the board has given the approval to raise up to rs400 crore through a qip before end october . we have appointed jm financial as the merchant banker , ” said c . v . r . rajendran , managing director and chief executive of catholic syrian bank .

to increase its overseas presence , the catholic syrian bank offers a number of high class services and financial solutions to the non resident indians . most of the banking transactions are carried online which makes it more hassle free , easy and convenient . some of the well known accounts which are offered by the bank are :

mumbai : kerala based - catholic syrian bank ( csb ) ltd is looking to raise as much as rs400 crore by selling shares to financial institutions , following the collapse of its plan to sell a major stake to prem watsa owned fairfax financial holdings ltd over differences in valuation .

john chandy , a local businessman and the convener of catholic syrian bank protection committee , an organisation that was formed when chansrichawla picked up his stake in the bank , believes the board prefers a merger . he wouldn’t give any evidence , but that’s the general perception as well — but for the disagreement on valuation , the merger would have gone through .

banking and financial services sector has seen the biggest qips , led by state bank of india ( sbi ) and kotak mahindra bank . other banks that have tapped the qip route this year include yes bank , federal bank , dcb bank and united bank of india , which have collectively raised close to rs8 , 000 crore .

out of the nine banks , just four remain today , with three of them from trichur . a remarkable feat , considering the fact that there are only 12 old private sector banks in india now . the catholic syrian bank is about to celebrate its 100th birthday in 2020 and the other two are about to enter their 90s .

the catholic syrian bank ltd ' s corporate identification number is ( cin ) u65191kl1920plc000175 and its registration number is 175 . its email address is board @ urltoken and its registered address is head office , " csb bhavan " , post box no . 502 , st . mary ' s college road , thrissur kl 680020 in , - , .

south indian bank was an exception . the 42 businessmen who formed the bank did not want the bank to be affiliated to a community or religion . thus , they chose the name “south indian bank” and registered it in 1929 .

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thingalaya ( banks in the south : past , present and their future , 2009 ) , in his exceptional work on india’s banking history , says that there were about 38 banks in thrissur alone . most of these banks were on community lines as their names indicate ( cochin nayar bank , mar appraem bank , mar thoma syrian bank , etc . ) , some were dedicated to hindu gods ( lakshmi prasad bank , sree radhakrishna bank , etc . ) and others were more generic ( bharata union bank , cochin reserve bank , etc . ) . from these 38 banks , we have three surviving banks , which makes their overall achievement even more impressive .

csb would be an ideal fit . there would be no cultural issues , as both banks serve in the same market . only about 16 branches would have to be relocated . a merger would make federal bank the biggest private bank in the south after icici bank and hdfc bank .

obviously , all this attention irks iswardas , who wants to retain the bank’s independence and the catholic syrian community in kochi , backed by the church that wants it to retain its community identity . their answer ? to treble the business of the bank to rs . 30 , 000 crore in two years , expand its footprint , create a presence in all states in the country and raise money from the market to fuel that growth . iswardas hopes that this would discourage existing investors from selling out .

the catholic syrian bank ltd is a public incorporated on 26 november 1920 . it is classified as non - govt company and is registered at registrar of companies , ernakulam . its authorized share capital is rs . 1 , 200 , 000 , 000 and its paid up capital is rs . 809 , 620 , 800 . it is inolved in monetary intermediation [ this group includes the obtaining of funds in the form of deposits ]

catholic syrian bank’s qip plans comes at a time when fund raising through this route has touched a record this year . mint reported on 6 september that 18 companies raised rs34 , 881 . 5 crore through qips so far this year . after this , bajaj finance raised nearly rs4 , 500 crore through a qip in early september , raising total qips to rs38 , 681 crore , and beating the 2009 record of 54 companies raising rs34 , 675 . 75 crore through this route .

for iswardas , ironically , the biggest support would come from the representatives of the catholic syrian community . the csb protection committee is headed by the archbishop of thrissur diocese . it’s a powerful institution there . several churches , seminaries , trusts and institutions come under it . it runs 14 hospitals , six colleges , five professional colleges , training institutes , many schools . father raphael thattil , vicar general of the archdeocese , says the bank isn’t a mere commercial entity . the diocese , he says , is dead against any merger or the loss of the bank’s identity .

“we would like to see three years of profitability before we go for an ipo . meanwhile , we believe that fund - raising through qip will help us meet the bank’s capital requirement for the next two years , ” rajendran added . at the end of march , catholic syrian bank had a capital adequacy ratio of 12 . 15 % , higher than the 10 . 25 % mandated by basel - iii norms . but it needs to beef up its capital position to grow its loan book faster than the 3 . 4 % rate in 2016 - 17 . the bank had reported two years of losses before showing a profit of rs1 . 5 crore in 2016 - 17 .

iswardas’ office is on the fourth floor of csb towers , an undistinguished building surrounded by educational institutions — st . thomas college , st . mary’s college a couple of schools — not far from the heart of thrissur . some of these are run by thrissur diocese , a powerful christian institution that has had a long association with the bank . the church continues to bank with csb . the bank was started by the syrian christian community in thrissur back in the 1920s .

in 1994 , csb seemed to be a good pick , and he bought 36 percent stake from the syrian christian community , which originally promoted the bank . however , things were anything but smooth — there were court cases saying he flouted foreign exchange norms and there was stiff resistance from the church .

his first target was lord krishna bank . the talks proceeded well enough and the two banks agreed in principle for a merger . but unions were against it , shareholders didn’t agree on the valuations , and he saw centurian bank of punjab snatching away his prize . a year later , he did acquire a bank ( ganesh bank of kurundwad ) . it gave federal bank an additional 32 branches and a footprint in maharashtra , but nothing of the size he desired .

link your aadhaar with your csb bank account by clicking on the link below . you can also click the link to verify if your aadhaar details are already updated in your bank account .

the petition argued that fatima nagar cooperative bank was a “cooperative society and not a banking company” .

• the travancore banking enquiry committee ' s report in 1930 noted that nearly 190 banks were found to be functioning in the state in that year ! of the 190 banks , just six had paid - up capital of rs1 lakh or more . out of the 184 banks with capital less than rs1 lakh , there were 10 banks with paid - up capital less than rs1 , 000 . the largest bank was the travancore national bank with capital of rs1 . 5 lakh and the smallest was catholic little flower bank , with paid up capital of just rs280 .

krishnamurthy has been associated with the bank for the past one year and was previously responsible for corporate banking , sme business and the integrated treasury operations of the bank as its head of wholesale banking and treasury .

from the day he took over the reins of federal bank five years ago , venugopalan was unhappy with its size . he had just stepped down as the boss of bank of india , which had 2 , 600 branches , over 10 , 000 employees and rs . 150 , 000 crore of business . federal bank had about 420 branches , 6 , 000 employees and rs . 23 , 000 crore of business at that time . it was a step down . for federal bank employees , he was “a big banker in a small bank . ” so what ? he would make the bank bigger . and acquire , if need be .

iype peter , a former federal bank employee who was elected to the csb board last year had quit in january , paving the way for s . santhanakrishnan , who quit the federal bank board , to join the csb board and hasten the merger process . federal bank currently holds a 4 . 99 % stake in csb .

the 10 percent rule effectively ended his ambition to control a bank in india . he had to give up .

that perception gains some credence from the fact that s . santhanakrishnan , a former federal bank director , now sits on csb’s board . a chartered accountant , he founded his firm sridhar & santhanam in 1977 . a highly networked professional , he went to the board of federal bank when icici bank had a stake in it . he was with venugopalan as he grew it “from a small , regional kerala bank to a good private sector bank . ” he was a votary of the merger , and it’s widely believed he moved to the board of csb to facilitate the merger , and make the transition easier . he was elected as the chairman of the bank recently ( rbi approval is pending ) .

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the bank had earlier planned to sell 15 per cent stake to a single investor , aif capital development of hong kong .

if a merger becomes inevitable , his resort would be the courts . litigants in tamilnad mercantile bank , another community bank based in tamil nadu , succeeded in stalling annual shareholder meetings for seven years and stopped board members from taking over for two years .

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the rbi did not approve this , contending that maximum shareholding by a private equity investor in a bank should be up to 5 per cent . the bank later sold aif 5 per cent . gartmore and siguler guff got 4 . 5 per cent each .

it is for the first time that the rbi granting clearance for a bank to sell 51 per cent of its stake to a single private investor .

not many in india have heard of chansrichawla , a media - shy third - generation non - residend indian based in thailand . the affable sikh held 24 . 5 percent stake in the bank . but given that indian law doesn’t allow an investor to hold more than 10 percent in a bank , he sold 14 . 5 percent to 15 investors from india and abroad . this followed the lack of a deal in his talks with federal bank .

addressing a press conference later , members of the csb protection committee alleged they were manhandled by the “police , a section of bank employees and goondas” .

csb has also formed a three - member board committee to conduct due diligence and that the process was ongoing , he added . m . venugopalan , managing director of federal bank , had earlier said that his bank was open to having a say in the affairs of csb keeping in mind the possible

mr . chandy held the post of chairman of fatima nagar cooperative bank . he filed a petition in the thrissur munsiff court challenging the rejection of his nomination .

as for federal bank , one opportunity may have passed , but the doors aren’t entirely closed . chansrichawla’s last minute deal is yet to be approved , there is anantharaman with his 12 percent stake that could still be targeted and at least some csb backers may prefer to let a local bank take it over than an unknown investor .

in addition to these , the bank also offers loans and advances for nris who wish to set up business and commercial bases in india . some of them are :

a csb board member said on condition of anonymity that the new board was unanimously in favour of a merger with federal bank . however , the proposal would have to officially come from the federal bank . “with the new board at csb now all in favour of a merger , federal may now consider hastening things , ” he added .

the csb protection committee , patronised by the thrissur archdiocese , said it was against any move by nris to take over the csb because the church had contributed to the bank’s growth .

“we welcome the appointment of mr . anand krishnamurthy as the managing director & ceo of the bank . as md & ceo , mr . anand will continue to focus on initiatives to transform ourselves into a full service contemporary bank , ” said s . santhanakrishnan , part - time chairman of , csb . krishnamurthy replaced rakesh bhatia who had quit earlier this year citing personal reason . after this , the board of directors had sent a panel of three names to reserve bank of india out of which they had maintained that krishnamurthy was the first choice .

most of these banks turned out to be unstable and had to be closed . kerala was home to two of the largest and most controversial banking failures in indian history . the first was the travancore and quilon bank in 1938 and the other was the palai central bank . these banking shocks ( along with other shocks like partition ) created enormous turbulence in kerala’s banks .

meanwhile , the task before iswardas is to make investors see that the value of csb shares keep rising on the back of robust growth . “it’s not about size , ” iswardas says , “size of the bank comes second . i am looking at what the bank’s strengths are , and how best it can be used . if i do that , growth should follow naturally . ”

it’s a tough task : what csb plans to add in the next two years , state bank of india adds in a month . it’s ambitious , admits iswardas . “but look at our recent record . we managed to increase our advances by rs . 1 , 250 crore in the last three to four months . ” can he grow the bank so fast when the industry itself has slowed down ? a deutsche bank report says that loan growth is unlikely to scale previous peaks , even though it’s improving . public sector banks have reduced their targets , it points out .

before the board approved the qip , csb was looking to sell 51 % stake to fairfax but the deal did not go through since the bank felt the offer was too low . according to another person familiar with the development who spoke under condition of anonymity , vallabh bhansali , chairman of enam group on 23 may picked up a nearly 4 % stake in the bank at a valuation of rs160 per share , a 30 % premium to csb’s rs123 . 5 per share book value at the end of march . this also values the bank at around rs1 , 295 crore .

naturally , there has been no dearth of suitors . just 80 kilometres from iswardas’ office sits m . venugopalan , ceo of federal bank . this larger country cousin of csb has been trying to acquire it for the past two years in a bid to become the dominant bank in kerala . it bought a 5 percent stake and waited for a larger stake . it found a heaven - sent opportunity when the reserve bank of india set a march 31 , 2010 deadline for csb’s largest shareholder , sura chansrichawla , to bring down his 24 . 5 percent stake to less than 10 percent . here was a shareholder under compulsion to sell and a buyer eager to lap it up . for a while , it almost looked like csb would become an apple in federal bank’s basket .

t . s . anantharaman , another board member and a shareholder in the bank , says , for the investors , it’s a question of price . “they would like to see some return on their investments . ”

the bank plans to raise money through a qualified institutional placement ( qip ) , where listed companies sell shares , fully and partly convertible debentures , or any security other than convertible warrants , to a qualified institutional buyer .

to this day , venugopalan insists that the logic for the merger holds good . despite chansrichawla’s sale of stake to a new set of investors , federal bank hasn’t walked away from csb . it retains its 5 percent stake .

for chansrichawla , this was not the way things were supposed to go . he came here in the 1990s , looking at investment opportunities . banking was high up on chansrichawla’s priority list . a generation earlier , his family tried to get hold of a bank ( bank of ayudhia ) in thailand , but failed . as thai economy became more liberal , it was left to his generation to enter and expand his family’s interest in banking , finance and insurance .

the private equity infusion was to take the csb’s net worth beyond the reserve bank of india’s minimum requirement of rs . 300 crore . the csb had only rs . 229 . 39 crore in net worth in 2006 - 07 .

the basis of the exception , in the case of csb , is the need to ensure adequate capital availability for turning around the struggling bank . the deal assumes significance considering the 21 - year - long quest for control of csb .

in a rare study which looks at the history of one of the thrissur banks—south indian bank—m . k . das and thomas e . m . ( a southern odyssey : the story of south indian bank , 2014 ) analyse some of the reasons for trichur emerging as a banking centre . they say towns like cochin or mattancherry became important commercial centres due to favourable geography leading to trading opportunities in these towns . however , trichur emerged as a trading town because of state patronage .

a few months ago , mint on sunday editor sidin vadukut wrote about a visit to his home town of thrissur for his younger sister ' s wedding . he mentioned that he met a neighbour who was proud that his daughter had recently joined a bank .

as if this wasn’t enough , a three - way stalemate has just emerged showing that the battle for csb is far from over . chansrichawla , who was talking to federal bank to sell his stake , went ahead and sold it to an entirely new set of investors .

recently , csb had filed for an initial public offering for rs 400 crore . apart from csb , rbl has also filed for an ipo . both the lenders have been advised by the reserve bank of india over the past few years to gear up for an ipo .

25 crore . in addition to the domestic branches , there are around 5 nri branches of the bank as well as 5 industrial branches , 5 ssi branches and 4 service branches . all these branches work in coordination with each other and offer the high class facilities and services .

a good analysis . everyone ' s prayers must be with iswardas . one point we should note : majority of the directors on the board neither have any in depth idea about the business nor the culture of the bank . since the large shareholders dominate the board , their personal interest in selling their holding at a high price takes prominence over the growth of the bank . this is the source of the problem for any ceo . in fact mr . chansrichawla ' s representatives ( direct and indirect ) are more on the board despite rbi ' s clear instructions against .

here comes the twist . the share transfer is yet to be cleared by csb’s board . the rbi asked the bank to check if these 15 investors were acting in concert . the apparent implication was that if they belonged to one group , their combined stake would again violate the law .

venugopalan was ready to pay the price for strategic value . he offered a share swap in august 2009 under which shareholders of csb were to get 1 . 9 shares of federal bank for every share they held . this valued csb at rs . 700 crore . the deal looked almost done .

csb chairman s santhanakrishnan said fairfax india would invest ` 1 , 000 crore in the bank , and that the deal is likely to be closed by march 2017 . he said csb was not worried about fairfax acquiring majority stake , because the canadian firm would have voting right of only 15 per cent .

as the bank’s 86th annual general body meeting began here this morning , the csb protection committee demanded its adjournment citing sections 179 ( 1 ) and 180 of the companies act , 1956 , for alleged rejection of proxies , improper verification of documents / signatures and having not allowed representatives of the committee to scrutinise proxies .

indian financial system code ( ifsc ) . it is used for electronic payment applications like real time gross settlement ( rtgs ) , national electronic funds transfer ( neft ) , immediate payment service , an interbank electronic instant mobile money transfer service ( imps ) , and centralised funds management system ( cfms ) developed by reserve bank of india ( rbi ) . code has eleven characters " alpha numeric " in nature . first four characters represent bank , fifth character is default " 0 " left for future use and last six characters represent branch . micr code : magnetic ink character recognition as printed on cheque book to facilitate the processing of cheques .

while in opposite camps , iswardas and venugopalan have one thing in common . both have to struggle with their respective board of directors that may not always agree with their views . the csb board will approve a deal at the right price , while federal bank’s board won’t allow venugopalan to pay as much as he was willing to .

“as part of the terms of the deal , the rbi has sought a five - year lock - in for fairfax , and asked the firm to reduce its holding in the bank to 15 per cent in 12 years , ” said sources . “normally , it takes at least three - four years for the turnaround . the five - year lock - in has been fixed for certainty in this regard . a valuation exercise will commence shortly to determine value of the unlisted entity , ” added the sources , but did not specify any timeframe for the process . it is learnt that the bank would be issuing fresh shares to fairfax , which has substantial holdings in diversified financial firm iifl and the bangalore international airport .

meanwhile , csb would look at industrial clusters to tap the sme business . iswardas has asked rbi for permission to open 35 more branches . and for the first time , the bank would participate in campus recruitments . the plan is to touch rs . 19 , 000 crore in deposits plus loans by 2011 , and rs . 30 , 000 crore by 2012 .

iswardas has divided the branches into three categories ( rural , urban and semi - urban ) and has given each of them a focus area ( retail , corporate and small & medium enterprises , respectively ) . he set up a credit committee comprising of zonal and general managers to make decision - making faster . the 90 - year - old bank has several third generation customers , and it would try to deepen the ties .

at the time of bank nationalization in 1969 , there were 72 banks that had managed to survive in india . of these banks , nine were from kerala . and of these nine , four were scheduled banks and the other five non - scheduled banks . more importantly , seven of the nine banks were from the erstwhile cochin state and within these seven banks , four were from trichur ( the anglicized name for thrissur ; i will use both ) .

disclaimer : - we have tried our best to keep the latest information updated as available from rbi , users are requested to confirm information with the respective bank before using the information provided . the author reserves the right not to be responsible for the topicality , correctness , completeness or quality of the information provided . liability claims regarding damage caused by the use of any information provided , including any kind of information which is incomplete or incorrect , will therefore be rejected .

a few things are obviously missed out here . it must be noted that it is through supreme court ' s intervention and its order chawlas got the approval which was pending for a long time after the rbi declined to acknowledge the transfer . chawlas are not known to manage any business well in their own country and the bank they were having control in thailand was taken over by the government . it is largely believed that santana krishnan , venugopalan and chawlas pushed the merger proposal for their personal interest rather with larger objective of increasing shareholder value at both banks .

the next question : how did these banks help thrissur and kerala ? one way to assess this is to see the branch network of these banks in kerala . in 1970 , kerala had 642 bank branches out of which 60 % were from kerala - based banks . within the 60 % , thrissur - based banks constituted 22 % of the total branches . in terms of population per branch , kerala had 33 , 251 people per branch , which was the third - lowest amidst states after gujarat and punjab . the national average was 60 , 859 people per branch .

federal bank’s inherent growth must be some consolation to venugopalan . the net worth has risen to rs . 4 , 000 crore . the branch network is up to 670 from 420 . but it could have been much better with csb in the bag . he has set a goal to reach rs . 100 , 000 crore in total business and a network of 1 , 000 branches by 2011 . “last two years were difficult because of slowdown in the economy and there was a set back . we will anyway work towards the goal . ” the target did not include business through any acquisition . “that would have been a bonus , ” he says .

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mint reported on 25 july that the private sector lender was considering various fund - raising options including a qip to raise short - term capital . it was even reconsidering a share sale , three years after it had filed a draft red herring prospectus .

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but outsiders , sure as hell , are interested in coming in . csb has built an exclusive franchise in kerala with total business of rs . 10 , 000 crore and 363 branches , reaching virtually every nook and corner of the malayalam country . for banks and businessmen looking to dominate the financial sector of the state that gets the highest level of foreign remittances in india , it is a tempting buy .

while further events have put the deal in a knotty situation , names of other indian businesses and non - banking financial companies constantly crop up as potential acquirers of csb . its star - studded shareholders list includes the likes of engineering conglomerate larsen & toubro .

with none of the three sides willing to yield an inch , a game of patience has begun . the big question is , who will blink first .

but when venugopalan took it to his board , the directors shot it down . they thought the price was too high . they got kpmg to do another valuation which put csb at rs . 400 crore . csb shareholders didn’t agree . the deal got stuck in the crevice between expectation and offer .

however , santhanakrishnan says csb has the potential to grow fast by itself . soon , it would get ready to raise money from the market , even though it’s too early to say which route it would take . he declined to comment on other options .

the committee had been working towards buying the shares back from chansrichawla . the church had commitment of rs . 250 crore from individual investors , chandy says . but , again price would have been the issue .

he will have a tough time competing with bigger banks , which can afford to offer lower rates for corporate clients . his growth plans also assume business from new branches in new markets , where he wouldn’t have the advantages he has in kerala ( namely , loyal customers ) and he will also have to compete with banks that are already entrenched in those markets . some of the smes among his target segment are export driven , and growth is unlikely to pick up on that front . that leaves him with retail customers , a segment that’s doing well , but the competition there is increasing not just from nbfcs but also from bigger banks .

he now has to convince prospective investors that he can keep the momentum . that will be a bigger challenge .

venugopalan , iswardas , chansriwala . three determined warriors . three different agendas . in the land where apostle st . thomas set foot 2 , 000 years ago and the country’s first mosque opened in the 7th century , it remains to be seen whose prayers will be answered .

( this story appears in the 30 april , 2010 issue of forbes india . you can buy our tablet version from urltoken . to visit our archives , click here . )

please add the following after your last line : " but not mentally prepared to . "

this piqued my curiosity . i asked the author whether the woman had joined one of the thrissur firms , as i knew the region is home to quite a few local banks . he responded by asking why i don’t write about the same—and here we are .

even before we discuss the histories of these individual banks , we need to discuss the history of banking in kerala . it is intriguing to unearth how financial intermediation has existed in this part of the world much before banks came into being .

edith jemima simcox ( primitive civilizations or outlines of the history ownership in archaic communities , 1894 ) , in a remarkable account on primitive civilizations , covers the region of malabar along with other regions . she mentions that “the dravidian kuri , or lottery , is said to have been handed down from very ancient times , and it is still commonly resorted to by anyone desiring to raise a sum of money for some special purpose , such as a daughter’s marriage” . the second volume of the same book covers china , where she notes very similar arrangements were used to raise capital , prompting the author to add , “the resemblance to the dravidian kuri , or lotteries , is obvious , and the institution in china may easily be as ancient as the characteristic form of mortgage also shared with the people of malabar . ”

these kuris ( more popularly known as chit funds today ) evolved for over a thousand years and are perhaps the oldest forms of financial intermediation . they started as the malabar region’s engagement in the spice trade over the centuries lead to the monetization of the economy . a mechanism was needed to transfer funds to those who needed it—as alluded to by simcox . this led to development of the kuri system , where members got funds on a rotation basis . in the absence of collateral , kuri was an interesting way to transfer funds from surplus units to deficit units , which is seen as a major role of financial system as well .

w . e . preston , who was member of royal commission on indian currency and finance ( 1926 ) , noted “ . . . it may be accepted that a system of banking that was eminently suited to india’s then requirements was in force in that country many centuries before the science of banking became an accomplished fact in england . ”

coming back to our topic , we zoom into the early 20th century , when indians were establishing joint stock banks in different parts of the country . under british india , the state of kerala as we know it today was divided into three parts : malabar in the north , cochin in the centre and travancore in the south . malabar came under the madras presidency and the other two were princely states .

within these three regions , a large number of banks mushroomed , most of them offshoots of existing kuri funds . there are multiple sources telling us about the high banking concentration in these three regions :

• the madras banking enquiry committee ( 1930 ) noted that there were around 66 banks in the entire presidency , with 32 of them in the malabar region . again , most of these banks were small .

• there was no separate committee to study banking in cochin . however , the report of the travancore - cochin banking enquiry commission ( 1956 ) noted that the princely state had 155 banks in 1936 , which declined to 109 in 1939 and to 68 in 1954 . the commission reported an even larger numbers of banks in travancore : 274 in 1932 - 33 , which declined to 85 in 1954 . whatever the sources of data , one thing is clear : these regions just had an amazingly high birth rate and death rate of banks .

out of the nearly 1 , 700 banks that closed in the country in the period between 1913 and 1970 , nearly 370 banks were from the kerala region . this excludes some of the malabar banks , which were counted as banks that closed in the madras presidency .

the sheer longevity of these banks is quite significant and demands adequate research . they remained small banks serving the hinterlands of kerala . in 1969 , the nine kerala banks comprised just 1 . 8 % of total deposits mobilized by all banks .

the next question is , why trichur ? the cochin - travancore banking commission ' s report noted that in cochin “most of the banks were largely centred in trichur , a commercial town with extensive rural areas lying all round which had also their banks” .

they highlight how sakthan thampuran , who was the king of cochin between 1751 and 1805 , shifted the capital from mattancherry to trichur . they cite the following reasons :

• both the dutch and british had bases at mattancherry and were warring for supremacy . sakthan did not want to take sides and shifted base to thrissur .

• the other reason was the central location of thrissur , which made governance easier in times where connectivity was poor .

• the third reason was strategic . thrissur historically served as a gateway for enemy armies , whether they were the zamorins of calicut or hyder ali / tippu sultan . by shifting the base , he revealed the military strategist in him .

with the shifting of the political base , economic activity too began to shift towards thrissur . the king promoted state trading in commodities , taking a cue from european traders . he built a small fleet of ships which he rented to private players , a forerunner to today’s coastal shipping activity . he also realized that many towns and villages of the state had product - specific markets . he ensured the prosperity of these markets by appointing officers to oversee the problems .

given this policy push , thrissur gradually evolved into a commercial centre . thus , as joint stock banks started thronging the region , thrissur became the default choice for most of promoters .

in 1972 , when first district - wise banking data was released , there were 70 banked centres in thrissur district , the eighth - highest in the country . more importantly , most of these banked centres were small rural centres with branches of local thrissur banks . there were 133 functioning offices in the district , which was 17th - highest among all the districts .

in terms of total deposits and credit volumes , the district does not fare as well , given the banks were mainly catering to the small depositor and borrower . however , in terms of number of deposit accounts and credit accounts , the tally is impressive . the number of credit accounts was 118 , 000 , 10th - highest in the country ( three districts from kerala were in the top 10 ) , whereas the number of deposit accounts was around 240 , 000 , making it 36th - highest in the country . the number of accounts again highlights that thrissur banks mainly catered to small customers .

apart from these inclusion parameters , these banks also provided employment opportunities to local people . most of them were community banks as their names indicate , whose initial workforce mainly comprised members of their own communities .

after reading so much about banks in thrissur , and poring over the data , one wonders just how many people know of its contribution to indian banking history .

and it ' s not just about banks . one of the better known nbfcs ( non - banking finance companies ) —mannapuram gold loan—also started in thrissur in 1949 . not to mention the fact that it has become a hub for several jewellery companies—such as kalyan jewellers—which are now beginning to expand their footprint across the country . gold and banking are , in fact , intrinsically connected as most of these banks lent against gold as collateral . moreover , it is not just about the past : one of the 10 small finance banks—esaf—started its journey in thrissur and is now headquartered in chennai .

there is so much to learn and understand about thrissur’s emergence and sustenance as a financial hub over a small scale . i have barely scratched the surface and would be delighted to learn from those who know much more about banking in the region .


air atlanta was an airline based in atlanta , georgia , united states in the 1980s serving over a dozen cities from its hub in atlanta .

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air atlanta <EOT> fleet air atlanta icelandic full fleet in pdf format photos air atlanta icelandi . . .

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despite air atlanta ' s failure , the companies say they will continue to support minority - owned businesses .

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founding father : michael r . hollis ; after three years of high hopes , air atlanta is out of cash

1934 : delta receives air mail route 24 from post office ; resumes passenger service . begins operating as delta air lines .

1930 : service begins to atlanta . lack of mail contract forces suspension of passenger service . company renamed delta air corporation .

the world’s first air conditioned trolley , known locally as the “queen mary , ” went into service in atlanta in 1945 .

1975 : first airline to offer its own air express service , a new high priority , guaranteed cargo service called delta air express .

' ' air atlanta is michael hollis , and almost vice versa , ' ' said harry a . kimbriel jr . , who was fired six weeks ago as president of air atlanta , the last of four men to hold the post . ' ' but air atlanta is beyond the size where management should be done that way . it needs to be run with more professional management . ' '

' ' our investment in air atlanta was made after a careful consideration of its value , acknowledging , however , the risks involved in a start - up venture of this kind , ' ' said equitable in a prepared statement . ' ' it is regrettable that air atlanta did not succeed , but in no way does the outcome reflect the hard work of air atlanta ' s management and employees . ' '

founding father : michael r . hollis ; after three years of high hopes , air atlanta is out of cash - the new york times

with the headline : founding father : michael r . hollis ; after three years of high hopes , air atlanta is out of cash .

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“he did so much more after air atlanta , ” his friend said . “and his work with grady was near and dear to his heart . ”

he also served on numerous boards , including those for the atlanta - fulton county hospital authority ( grady hospital ) , emory university and atlanta university .

virtually everyone connected with air atlanta agrees that undercapitalization was a major problem , particularly since the carrier started at a time when deregulation had unleashed merciless competition .

orn johannsson , manager base maintenance , air atlanta icelandic , said working with vd gulf in jeddah played a part the airline’s decision to expand its agreement .

thirty of the country’s top outdoor painters will produce landscape paintings “in the open air” across the atlanta history center’s 33 - acre goizueta gardens . the public is invited to observe as the artists create finished paintings before their eyes . in its third year , the olmstead plein air invitational will take place at atlanta sites including the atlanta history center and the olmstead linear park from april 2 to 9 , 2017 . paintings produced during the atlanta competition will be made available for purchase .

in any event , as air atlanta ' s fortunes began to sour mr . hollis found that he could no longer tap new money from his former lenders .

volga - dnepr gulf ( vd gulf ) has signed an agreement to carry out base maintenance checks on air atlanta icelandic’s fleet of nine 747 - 400 aircraft .

questions have also been raised about the decision of csx to invest in air atlanta . critics point out that csx had made a highly controversial proposal to build a large rail cargo facility in a depressed , largely black area of southwest atlanta .

icelandic acmi specialist air atlanta has acquired two boeing 747 - 400s from air france , which is in the final stages of retiring the type after four decades of service . air atlanta sales director magnus asgeirsson confirmed the two aircraft arrived in iceland and has already been placed with customers ; saudia is operating one aircraft . the latest acquisitions add to atlanta’s growing fleet of 747s ; it already has 10 747 - 400s on strength , together with six 747 - 400f / sf freighter . . .

with one of the world ' s largest b747 - 400 fleet , air atlanta icelandic has the know - how , experience and economies of scale that few can match .

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atlanta entrepreneur michael r . hollis , 58 , passed away monday after suffering from a prolonged illness . hollis in 1984 launched air atlanta , a luxury airline that was the first in the nation controlled by an african - american , and later established hollis communications along with atlanta builder h . j . russell , reports saportareport ' s maria saporta .

air atlanta was also helped by a parsimonious salary schedule . it paid pilots $ 44 , 000 a year , while delta and eastern were paying more than $ 100 , 000 . some flight attendants earned $ 11 , 000 a year . at the same time , air atlanta was using unpurchased seats as barter for everything from office supplies to advertising .

for 30 years we have offered cargo solutions tailored to the vastly different needs of our customers . whether you are looking to get fresh produce straight to market or searching for the fastest way to resupply , your solution is air atlanta . we know that the source of our clients´ loyalty is a reliable and flexible service . go farther , with air atlanta cargo .

the new contract expands on a relationship which began between the parties in 2014 , with charter carrier air atlanta icelandic using vd gulf’s jeddah , saudi arabia facility to support the 747s .

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customers departing from the united states and canada will have easier access to the french west indies , french guiana and air france’s regional caribbean network as a continuation of the flight from atlanta .

yes , all the passengers have a hop ! air france senior pass that is valid on the travel date . no , not all the passengers have an air france hop ! senior pass .

atlanta history center insiders are invited to an evening of cocktails , hors d’oeuvres and plein air artistic excellence . plein air artists will paint on atlanta history center’s campus during the day during the day on april 5 as part of the olmstead plein air invitational , and display their work that evening . the reception will provide insiders the opportunity to view the art created during the day and to vote for their favorite painting . the artist will be presented with the first insiders award .

these perks have won the airline a loyal clientele , among them darrell e . hart , a plant manager at procter & gamble in atlanta , who has been flying air atlanta steadily for a year . ' ' they don ' t treat people like cattle , ' ' he explained .

call us at 404 . 814 . 4000 130 west paces ferry road nw atlanta , ga 30305

mr . chowdry left without payment and without his planes , but air atlanta still could not hold on . nine days later , it filed for protection under chapter 11 of the federal bankruptcy code . this would permit the airline to operate while it develops a plan to repay creditors . as a practical matter , air atlanta has virtually no cash and is not expected to fly again without a major capital infusion .

late last month , daniel h . kolber , executive vice president of air atlanta , shut his office door against the incessant ring of telephones to explain to a visitor the options left for the beleaguered airline .

olmsted plein air invitational day is free to members ; included in the cost of general admission for nonmembers .

hollis went on at age 27 to found air atlanta . the airline filed for bankruptcy in 1987 . after founding hollis communications with russell , the pair owned a radio station that was later sold to cox enterprises .

apart from interpersonal pressures , a variety of political pressures may have played a part . some executives close to the failed carrier say that politics brought some of the principal investors into air atlanta . for example , they say that equitable may have been convinced to invest in air atlanta partly as a gesture to the city ' s black power structure . equitable ' s real estate unit has extensive commercial real estate investments in the city .

mr . chowdry , however , said he would not make a final decision on investing until his advisers examined the air atlanta books and until he heard whether mr . hollis and the board were willing to step aside .

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you must present a valid hop ! air france youth pass at the airport on the day of your trip .

he made a daring choice with aviation . black entrepreneurs have traditionally based their businesses on sales to minority customers . but from its start 16 months ago , air atlanta has courted business travelers , most of whom are white .

as from november 21 , 2017 , air france will start operating its new pointe à pitre ( guadeloupe ) - atlanta ( united states ) route . customers will benefit from two weekly flights by airbus a320 offering up to 170 seats .

now mr . hollis is implementing his own 13th commandment : ' ' thou shalt start thy own company . ' ' he is the founder , chairman and chief executive of air atlanta , the first airline that is largely owned by blacks .

what are air atlanta icelandic ' s fleet up to at the moment ? according to their website , the only passenger aircraft they operate now are 747 - 300s . . . i thought they had - 400s ? - 200s ? 737s ?

mr . jackson also introduced mr . hollis to william j . kennedy 3d , chairman of the black - owned north carolina mutual life insurance company and of unc ventures inc . , a boston concern that invests in minority - owned businesses . north carolina mutual would ultimately invest nearly $ 2 . 5 million in air atlanta , 1 percent of the insurer ' s total assets . unc ventures , in addition to providing $ 2 . 75 million for air atlanta , helped enlist equitable .

' ' he remembers names and he follows up contacts like no one i ' ve seen in my life , ' ' said maynard jackson , the city ' s former mayor and now a bond lawyer who serves on air atlanta ' s board .

but these economies were not enough to offset simmering internal problems . less than six months after air atlanta ' s first flight took off from hartsfield international airport , three top executives , including roden a . brandt , president and chief executive , resigned .

air atlanta icelandic holds an icelandic aoc ( air operator certificate ) issued by the icelandic transport authority fulfilling the requirements of eu ops and part m and eu regulation no . 2407 / 92 . the company further holds air operator approvals from the us department of transport , canadian transportation agency and australian government . the company became iosa ( iata operational safety audit ) qualified in 2011 . the iosa program is an internationally recognized and accepted evaluation system designed to assess the operational management and control systems of an airline .

it was evident long before he incorporated air atlanta in 1981 , when he was 27 , that mr . hollis would do big things . he was head of the atlanta youth congress at 15 , and at the same time he worked on the mayoral campaign of sam massell , who later appointed a young mr . hollis to a community - relations commission that helped address race .

af609 : leaves atlanta at 10 : 40 ; arrives in pointe à pitre at 15 : 50 ; flights operated on wednesdays .

af609 : leaves atlanta at 10 : 15 ; arrives in pointe à pitre at 15 : 25 . flights operated on sundays .

ultimate air shuttle flights are public charters sold and operated by ultimate jetcharters , llc as direct air carrier . these charter flights are subject to department of transportation public charter regulations . please go to our f . a . q . for more information on public charter flights .

less than two years later , mr . hollis returned to atlanta with plans for an airline . ' ' i grew up here and aviation is a big part of atlanta , ' ' he said . ' ' the airport is almost like the heart of atlanta . ' ' during his dartmouth days , mr . hollis had become interested in mass transportation and decided he would pursue a career in transportation finance .

1978 : the airline deregulation act passes . delta begins trans - atlantic service : atlanta to london . david c . garrett becomes ceo .

af608 : leaves pointe à pitre at 16 : 20 , arrives in atlanta at 20 : 05 ; flights operated on tuesdays and saturdays .

an air atlanta officer said that political pressure had been applied to csx : ' ' it wasn ' t a quid pro quo , but csx owed andy young a favor , and hollis has never been shy about calling up somebody like andy young and asking him to help . ' '

to benefit from the senior rate , all the passengers must travel with an air france hop ! senior pass that is valid on the travel date .

less than two years after he joined oppenheimer , mr . hollis returned to atlanta from new york to try to bring his dream to fruition .

this new route is in addition to the regional caribbean network operated by air france . customers departing from fort de france ( martinique ) and cayenne ( french guiana ) will also be able to fly to atlanta as a continuation of the pointe à pitre service on tuesdays and saturdays . customers departing from atlanta and continuing on from pointe à pitre will be able to fly to fort de france on wednesdays and sundays as well as to cayenne on wednesdays .

mr . hollis lives comfortably but not lavishly in a downtown atlanta condominium . the coming months will be crucial for his airline , but mr . hollis maintains his usual confidence . ' ' we will be profitable , ' ' he predicted . and when that occurs , he plans to expand air atlanta ' s fleet and add extra cities to its list of destinations . but his guiding principle has not been to get planes in the air quickly . instead , he has planned slowly and deliberately . ' ' if you are failing to plan , ' ' he said , ' ' you are planning to fail . ' '

2000 : launched skyteam , a global alliance , partnering delta with aeromexico , air france and korean air . places the industry ' s largest order of regional jets ( 500 ) . introduces new aircraft livery and a contemporary " widget " logo . launches urltoken web site , replacing “skylinks . ” carries 120 million passengers .

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when you have been on top for decades you know how to organize a tour to perfection . that´s why iron maiden chose to partner with air atlanta icelandic for their 2016 “book of souls” world tour where a customized boeing 747 - 400 , nicknamed ed force one carried band , crew and equipment between 35 countries .

since our first pilagrim flight in 1992 air atlanta icelandic has evolved to become the largest acmi hajj operator in the world , assisting millions of muslims around the world to travel to makkah . today our varied expertise is a point of pride , while we believe that our adaptability is the key to a bright future .

service to this airport is not available . you can book your trip on the local urltoken site for your departure country or contact an air france point of sale .

from the day of its first flight , on feb . 4 , 1984 , air atlanta seemed an improbable venture . lacking any experience in the airline business and without capital of his own , mr . hollis had nonetheless decided at age 27 that he would found an airline . three years later , the airline was flying .

in addition , air france offers 8 destinations on departure from pointe à pitre or fort de france : saint lucia , san juan , santo domingo , saint martin grand case , sint maarten juliana , st . barthelemy , fort de france and barbados , operated on a code - share basis with air antilles . with its partner winair , air france customers also have access to 7 destinations in the caribbean via saint martin : saint barthélemy , dominica , tortola , saba , saint eustache , saint kitts and nevis and antigua .

even though air atlanta had been bankrolled to $ 83 million by some of america ' s largest corporations , with only seven airplanes the three - year - old airline was unable to achieve any economies of scale and sustained continuous losses . ' ' we really need 12 to 15 planes to achieve critical mass , ' ' mr . kolber said . just then , michael a . chowdry , president of aeronautics leasing , inc . , of golden , colo . , strode into mr . kolber ' s office . air atlanta was behind on payments for the two boeing aircraft it had leased from mr . chowdry ' s company , and mr . chowdry had come to repossess his planes .

1999 : air transport world magazine named delta its global airline of the year for 1998 . aviation week and space technology magazine named delta 1999 ' s best managed major airline .

attention , pour bénéficier des tarifs week - end , tous les passagers doivent disposer d ' une carte week - end hop ! air france valide à la date du voyage .

rather than going to morehouse , however , mr . hollis decided on dartmouth , the college that mr . mays had wanted to attend . a political science major , mr . hollis became interested in transportation and the new systems being built in atlanta and san francisco . he also became aware of atlanta ' s unique position as a transportation hub .

1928 : c . e . woolman , the principal founder of what would become delta air lines , leads movement to buy huff daland dusters . renamed delta air service for the mississippi delta region it served , the new airline is incorporated on dec . 3 , 1928 . d . y . smith , president ; c . e . woolman first vice president .

“he was a boy wonder and helped us understand issues just surfacing in that arena , ” said mr . massell , president of the buckhead coalition and a former atlanta mayor .

1948 : first u . s . interchange service with twa personnel flying delta planes from cincinnati to detroit and delta crews flying twa ships south to atlanta , miami and dallas .

1953 : chicago and southern air lines merger brings delta its first international routes ( to the caribbean and caracas ) . airline called delta - c & s for the next two years .

to benefit from the senior rate , you must travel with an air france hop ! senior pass that is valid on your travel date and be ready to present it at the airport .

customers departing from pointe à pitre will also benefit from connections to more than 60 us and canadian destinations via atlanta operated by delta air lines . in this way , passengers will be able to use a single ticket for their entire trip , their baggage will be tagged to its final destination and they will be able to earn and use miles on all of these routes .

to benefit from the senior rate , all passengers must travel with an air france hop ! senior pass that is valid on the travel date and be ready to present it at the airport .

air atlanta icelandic is a leading acmi service provider with over 20 years of experience in the wet - lease market , with operating bases worldwide . the airlines current fleet consists of wide - body aircraft such as the b747 - 400f / sf , b747 - 200f / sf and a300 - 600r freighters , in addition to its b747 - 300 , b747 - 400 passenger aircraft .

air france’s regional caribbean network links pointe à pitre ( guadeloupe ) , fort de france ( martinique ) , cayenne ( french guiana ) , port au prince ( haiti ) , miami ( united states ) and now atlanta ( united states ) . two airbus a320s ( 170 seats ) and crews dedicated to this network operate more than 60 weekly flights between these different economic regional centres .

as a result , air atlanta pulled its group of investors ever deeper into its financial morass . equitable , which had started with an investment of $ 2 . 5 million , had put up a total of $ 33 . 4 million by the time bankruptcy came . aetna , which had also started with a $ 2 . 5 million investment , was tapped for nearly $ 6 million more .

1929 : delta operates first passenger flights from dallas , texas , to jackson , miss . , via shreveport and monroe , la . travel air s - 6000b airplanes carry five passengers and one pilot .

mr . hollis , who was 27 when he first sought backing for his airline , has consistently overcome the burdens of youth and inexperience by being ' ' better prepared than anyone else , ' ' says berl bernhard , a washington lawyer specializing in aviation and who helped get air atlanta started . mr . bernhard ' s son introduced him to mr . hollis when the two were students at dartmouth .

1955 : delta pioneers the use of the hub and spoke system . scheduled airplanes bring passengers to a hub airport where travelers connected to other delta flights . delta wins atlanta to new york route .

carl e . norman , assistant vice president of finance for csx , acknowledged that mr . young introduced mr . hollis to csx officials , but said mr . hollis ' s relationship with mr . young and other black leaders was not decisive in the company ' s decision to invest . ' ' it may have gotten him in the front door , but after that it was strictly a matter of economics , ' ' mr . norman said . the decision was helped by air atlanta ' s agreement to operate a flight between atlanta and csx ' s greenbriar resort in west virginia , he added .

some decision must be made by tuesday , mr . chowdry said . by then , the company must resume flying into kennedy international airport or risk forfeiture of its landing slots . to prevent that , another of air atlanta ' s creditors , heller financial inc . , has asked to have the kennedy slots sold . mr . chowdry said the new york landing slots were crucial to any attempt to restart the business .

but as part of the deal , klm wanted to include air atlanta flights in the klm system . that would require a bilateral treaty between the united states and the netherlands . even as pressure was being applied for mr . hollis to step aside - publicly from the airline ' s pilots and privately from investors - insiders were convinced that mr . hollis ' s political contacts would be invaluable in setting up treaty talks .

mr . hollis credits some of his accomplishments to his upbringing . his father , a pullman porter for 35 years , and his mother , an official of the atlanta housing authority , always emphasized academic excellence .

late last month , he struck a desperation bargain with klm , the dutch air carrier . it agreed to invest $ 10 million if mr . hollis could come up with an additional $ 10 million from another investor .

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the airline ' s brief history is a study in the workings of emerging black capitalism . michael hollis had going for him not only his own considerable talents , but also the ability to tap funds that insurers have set aside to back minority ventures . however , many of the lessons of air atlanta ' s downfall - including the continuing struggle for adequate financing and the efforts of the founder to retain control over everything - are those of small businesses everywhere .

our mission is to provide the atlanta region a safe , secure and cost - competitive gateway to the world that drives economic development , operates with the highest level of customer service and efficiency , and exercises fiscal and environmental responsibility .

hollis later started and sold hanover credit co . he also started blue sky petroleum co . with his brother , the late james b . arnold . they owned dozens of convenience and petroleum retail stores in metro atlanta , saporta wrote .

despite air atlanta ' s continuing red ink , mr . hollis keeps his faith in his marketing strategy . since larger carriers could always undercut his fares , his airline does not compete on price but on quality . its fleet of boeing 727 - l00 ' s has 88 extra - wide seats instead of the standard 129 spaces ; plush gray - and - violet appointments create a soothing environment . waiting passengers enjoy free coffee and newspapers in a lounge with art on the walls .

' ' we opened the doors for him , ' ' mr . kennedy said . mr . hollis draws a salary of $ 75 , 000 a year . since he owns more than 25 percent of air atlanta ' s voting stock , however , a successful public offering would make him a wealthy man . the remainder of the voting stock is held by about 25 associates , composed of black and white executives and the major lenders , with blacks holding a majority of the voting power .

in addition to his brother , mr . hollis is survived by his wife , deena freeman hollis of douglasville ; sisters virginia e . hollis of lithonia and joan hollis mitchell of atlanta ; and another brother , flem h . hollis of roswell .

1979 : delta celebrates its 50th year of service ; begins flights to frankfurt , west germany . delta is the first airline in the world to board one million passengers in one city in one month ( atlanta in the month of august ) .

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he earned a law degree from the university of virginia and was the first african - american elected as national president of the 30 , 000 - member student division of the american bar association according to an atlanta weekly profile written about hollis in 1985 , saporta wrote .

1987 : western airlines merges with delta ; becomes the fourth largest u . s . carrier and fifth largest world carrier . delta ' s first trans - pacific service begins : atlanta to portland , oregon , to tokyo . ronald w . allen becomes chairman and ceo .

2001 : u . s . airspace closed for two days after terrorist attacks on sept . 11th . delta posts first financial loss in six years . delta carries olympic flame from athens , greece , to atlanta for 2002 olympic torch relay to salt lake city , utah .

michael robinson hollis , of douglasville , died monday at his home of complications related to pancreatic cancer . he was 58 . a funeral service is planned for 10 : 30 a . m . monday at ebenezer baptist church , atlanta . entombment will follow at resthaven gardens of memory .

ait atlanta is a charter airline we depend on saudia what flight they are giving to us . if there is no much flight we are going home unpaid leave sometimes i takes 3 months or 2 months or 1 month in 1 year 2 to 3x they are sending us back home .

mr . hollis , a 31 - year - old bachelor , is no expert on operating jet aircraft . he built his airline with a well - researched business plan and the help of a network of friends in atlanta and washington and new york . many are from contacts made at dartmouth .

born at grady memorial hospital , mr . hollis served on both the fulton - dekalb hospital authority and the hospital board . in addition to his work with the hospital , mr . hollis was a founding trustee of clark atlanta university and had served as a member of the emory university board of visitors .

2002 : delta sponsors the 2002 olympic winter games at its salt lake city hub . technology advances bring convenience to customers through kiosks at check - in , expanded gate information systems and virtual check - in on delta . com . delta , air france , alitalia and csa czech airlines granted antitrust immunity for trans - atlantic scheduling and pricing .

1945 : official corporate name becomes delta air lines , inc . company recognized by national safety council for more than 300 million passenger miles and 10 years of flight without a passenger or crew fatality . c . e . woolman is president and general manager . delta is the first airline to fly living vegetable plants ( 160 , 000 tomato plants ) .

after that assignment , he became vice president for public finance at the new york investment firm oppenheimer & co . , which he left in 1983 . by 1984 , three years after he incorporated the airline , planes were in the air . the airline shuttered in 1987 , but that did not squash mr . hollis’ entrepreneurial spirit , mr . kolber said .

still , industry analysts remain skeptical about mr . hollis ' s plan , noting that other carriers with similar strategies have failed . air one , the first new airline to offer extra service for the business customer , filed for protection under chapter 11 in october . braniff abandoned the approach after heavy losses , but is now turning a profit as a discount operation .

1990 : delta is the first airline to offer md - 11 jet service in the u . s . delta , northwest airlines , and twa combine reservation systems , forming worldspan travel information services . delta and 23 civilian airlines participate in the civil reserve air fleet ( craf ) during desert storm / desert shield from 1990 - 1991 , carrying passengers and military cargo .

early on mr . hollis won cooperation from his formidable competitors in the atlanta market by making successful personal appeals to david c . garrett jr . , chairman of delta , and frank borman of eastern . the carriers agreed to interline agreements - meaning that they now put the small airline ' s schedule in their computer systems , offer joint ticketing and handle its baggage .

mr . hollis ' s confidence remains unshaken . ' ' you have to know your own worth , ' ' he said , recalling that he insisted on an executive ' s title when he joined oppenheimer at the age of 26 . ' ' i would not have gone below vice president , ' ' he said . that was the title he got . p erhaps that confidence helps to explain why air atlanta ' s largest backers - the equitable life assurance society , with $ 15 million invested , and the aetna life insurance company , with $ 7 . 7 million - have continued to dip into their pockets to keep the airline alive . analysts say that equitable and aetna recognize that airlines require time to develop their market . they add that the two insurers have invested too much to pull out now .

after he earned his law degree , mr . hollis ' s career got off to a strong start when jimmy carter named him associate chief counsel of the president ' s commission on the accident at three mile island - in part because of a recommendation from mr . bernhard . mr . hollis traveled widely throughout the country taking depositions ; when the assignment ended , he joined an atlanta law firm .

a 6 - foot - 2 200 - pounder with a deliberate manner , mr . hollis practiced law in atlanta , then joined oppenheimer & company , wall street investment bankers - until he determined there was ' ' a hell of an opportunity ' ' waiting back home for someone who could get an airline off the ground - which mr . hollis decided that he had the skills to do , particularly the money - raising skills .

2009 : delta celebrates 80 years of passenger service . announces expanded trans - atlantic joint venture with air france - klm . becomes the only u . s . airline to serve six continents with introduction of nonstop flights between los angeles and sydney , australia . completes integration of northwest worldperks frequent flyer program into skymiles , creating the world’s largest loyalty program with more than 74 million members . rebrands more than 240 domestic airports with delta logos , replacing northwest .

when he was growing up in atlanta , michael r . hollis recalled recently , the black community abided by 12 commandments , not the standard 10 . the 2 homemade commandments were ' ' thou shalt own thy own home ' ' and ' ' thou shalt send thy sons and daughters to college . ' ' all five of the hollis children attended college , with michael , the youngest , graduating from dartmouth and the university of virginia school of law .

mr . hollis went to dartmouth college , where he graduated with honors , then to the university of virginia school of law , where he became the first black national president of the student division of the american bar association . after law school , he returned to atlanta briefly before being appointed associate chief counsel by then - president jimmy carter to investigate the legal ramifications of the three mile island nuclear power - plant accident near middletown , pa . in 1979 .

at the suggestion of mr . mays , mr . hollis enrolled at dartmouth college , then went to the university of virginia law school . his career got off to a strong start when president jimmy carter named him to the commission investigating the accident at three mile island . when the assignment ended , he joined an atlanta law firm ; in 1979 , at age 26 , he moved to oppenheimer & company as a vice president in the public finance department .

when mr . hollis was 16 , he talked his way into a job in the braves ' public - relations department , was selected as a georgia delegate to the white house conference on youth and spearheaded the organization of young atlantans for maynard jackson when he ran for the u . s . senate in 1969 , before he was elected mayor . mr . hollis accomplished all of this before he graduated from booker t . washington high school , according to a 1985 atlanta journal article .

air france terms for travel as a family or with children special fares are available when you travel as a family or with children on flights in metropolitan france . traveling as a family parents / grandparents with at least one young child / grandchild ( from 12 to 24 years of age ) . you must show proof of relationship upon boarding : a french livret de famille or an official document showing the relationship . traveling with children - tribu fare for 1 to 4 travelers with at least one infant or child under 12 years of age ( no proof of family relation required ) .

2005 : " operation clockwork " is the largest single - day schedule redesign in aviation history . changes at atlanta and dallas / ft . worth restructure more than 51 percent of delta’s network for better on - time departures , reduced airport congestion and free up aircraft for delta ' s expanding route system . on sept . 14 , delta files for reorganization under chapter 11 of the u . s . bankruptcy code . in november , delta starts one of the largest one - month expansions in its history with service on seven new latin american and caribbean routes .

' ' it never bothered me that i had no airline experience , ' ' mr . hollis said last week . ' ' fred smith had no airline experience when he began federal express . carl icahn had no airline experience ' ' before his buyout of trans world airlines . his confidence had been forged at an early age . his boyhood hero , the late atlanta educator benjamin e . mays , had insisted , ' ' if you set out to do it , you will , ' ' mr . hollis recalled . mr . mays was one of several important black leaders , including julian bond , maynard jackson and andrew young , that michael met while still in high school .

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welcome to airline timetable images , a website devoted to the collecting of airline timetables . here you will find cover images of many timetables , both old and new . the majority consists of system timetables from the collections of björn larsson and david zekria , but many are contributions from other collectors .

index / updates / search please see the list of airlines with timetable cover images on this site . there is a separate list of complete timetables . you can also check the latest updates . if you don ' t find what you are looking for , please use the search engine .

airline baggage labels we have added a section with images of airline baggage labels as a special bonus to our visitors . it is supervised by daniel kusrow .

acknowledgments we would like to take this opportunity to thank all of you - fellow collectors , dealers and other individuals - who have helped us enhancing our collections over the years . we are particularly indebted to our contributors who have provided additional timetable and baggage label images , photos or information .

contact we hope you like what you find on this site . please e - mail björn if you have any comments ( e . g . if you find any inaccuracies in the information given ) or requests . if you are looking for a specific timetable or an airline not included , don ' t hesitate to ask . we may have it and can send you a scan - or even display it for others to enjoy . thank you for viewing !

on december 1 , 2017 this website comprised 5 , 900 + pages with a total of 55 , 700 + images of 3 , 150 + different airlines . . . and still growing !

perry sloan ' s great website with a large number of images of timetables , plus listings of known timetable publication dates from the dawn of airline operations .

this webiste , maintained by craig morris , has timetables ( and other aviation ephemera ) for sale .

david keller has written a learned account of airline timetable collecting , giving advice on how to take care of your timetables . you can find it on the

page of airlinecollectibles . com , a website maintained by several collectors of airline memorabilia , also dealing with the collecting of postcards , china , wings etc .

david has an ebay store listing thousands of airline timetables . you will also find him and his tables at a number of u . s . airliner shows .

oliver hambly ' s website with airline timetables for sale - and lots of other transport memorabilia in addition .

a website not mainly for timetables is david levine ' s site , though with many great images of airline brochures ( including some timetables ) , luggage labels and a whole lot of other ephemera , primarily from the art deco period .

daniel kusrow ' s and björn larsson ' s website about aeromarine airways - a true pioneer in u . s . aviation - includes timetables and lots of photos .

the library of the university of miami show hundreds of complete timetables on line from its pan american collection - and not only of pan am , but also of mexicana , pacific alaska airways , panagra , panair do brasil , scadta / avianca and other pan am - affiliated companies .

number of visitors to this domain ( timetableimages . com ) since september 26 , 2000 :

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since our first takeoff in 1986 we have steadily climbed to become a leading acmi provider and a global go - to partner for passenger and charter flights . for the last 30 years we have seen millions of smiling faces returning from a holiday , a rock tour , a sports event or a relaxing city break .

since our first takeoff in 1986 we have steadily climbed to become a leading acmi provider and a global partner for cargo and charter flights . we have operated to every habitable continent of the world , and our international workforce has vast experience in setting up global operational bases on short notice anywhere in the world . we flew to 117 airports and 51 countries in 2016 , and we are always responsive and ready to fly in any formation , anywhere , anytime .

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the family will hold a memorial service on june 25 at 10 : 30 a . m . at ebenezer baptist church .

hollis and another brother – julius hollis – formed a partnership with jp morgan chase – nevis securities .

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' ' what attracted us to him initially was his concept , ' ' said brian f . wruble , chief of finance operations at equitable . ' ' it was one of the best thought - out and solidly researched business plans i had ever seen . equitable is not normally a large participant in start - up ventures , but this one struck us as having enormous potential for success . ' '

however , mr . hollis concedes there have been some ' ' growing pains . ' ' in fact , last july , his top management team resigned to protest some of his policies and behavior .

the three - roden a . brandt , the president and chief executive who had been a senior vice president at pan american world airways ; james purcell , the vice president of operations who had been an official with the federal aviation administration , and cheung c . wong , the vice president of marketing who had been system director of pricing for pan am - all resigned at the same time . the executives said they were upset because mr . hollis interfered in the running of the airline , despite what they thought was an agreement that he would stick to finance and policy and leave operations to them .

they also resented that mr . hollis and his friends flew first class , when company policy required the staff to fly coach .

they complained when mr . hollis set up an expensively appointed office at the airport , while keeping a second office and secretary in the city . the dissident executives said mr . hollis was setting a bad example - particularly since many employees were making do with low salaries . some flight attendants , for instance , were earning only $ 11 , 000 a year .

the executives hoped that their criticisms would force the directors to act , but the eight - member board backed their chairman .

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' ' the departure of those three was , in my opinion , a blessing , ' ' said mr . jackson .

mr . hollis believes that as founder and head of the airline , he is entitled to sit where he wants and have a comfortable office . after the managers resigned , mr . hollis talked to his workers and he says he received their full support . he recruited neil m . effman to be chief operating officer , but the chairman clarified the chain of command : all key executives report to mr . hollis , and he reserves the right to involve himself in any aspect of the operation .

a second crisis came last april when the airline went to the public market with an offering of 1 million shares of stock to raise $ 22 million . but investors were not interested , and the offering was withdrawn by the underwriter , e . f . hutton & company . undeterred , mr . hollis returned to his private supporters and raised more than $ 25 million .

this kind of backing is a personal tribute to mr . hollis , say his supporters . ' ' he ' s believable ; he has the facts , he is persistent and very positive ; those things have convinced people he can make it , ' ' said william j . kennedy 3d , chairman of the north carolina mutual life insurance company in durham , n . c . , one of the nation ' s largest black - owned businesses . besides investing $ 1 million , mr . kennedy gave mr . hollis access to the top officers at aetna , equitable and the general electric credit corporation , companies that came up with much larger investments .

the airline continues to make progress , thanks to mr . hollis ' s persistence . in a recent victory , he won four of the coveted new slots at new york ' s la guardia airport , which is favored by business travelers . there were 114 requests for the 25 positions .

when michael was a student at booker t . washington high school , he was impressed by maynard jackson , julian bond and andrew young , who were making their mark as blacks gained political power after the civil rights act of 1964 .