Bangalore May 16 First Flight Couriers Ltd plans to invest Rs 100 crore during the current financial year to set up an integrated logistics services division that will offer the entire gamut of warehousing, inventory management, supply chain and distribution.

A leading domestic courier company, First Flight also would be acquiring larger cargo aircraft to augment its services to major cities.

The company has bet on the booming retail sector for its expansion, said Mr R.K. Saboo, Deputy Managing Director.

On the source of funding for its expansion, Mr Saboo said the company was in an advanced stage of discussion with some private equity companies.

With its growing business, First Flight hopes to mobilise sizeable investment from its internal resources and some amount from debt.

First Flight started its aviation operations last year for its courier distribution with three turbo prop aircraft each with 7.5-8 tonne capacity.