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UPDATE: March 7, 2016. The US has now removed Jaideep Mirchandani, family members and several associated companies from the Entity List, although the Attica office of Aerospace One as well as five offices of Veteran Avia remain on the list.


Aerospace One, the Greek-registered ACMI carrier launched last year at Transport Logistic in Munich, has been accused by the US government of supporting the Assad regime in Syria, along with carriers Veteran Avia and Rayyan Air Pvt.

According to documents published last week, the government has accused some of the carriers’ flights of shipping large amounts of Russian currency to the Syrian government.

The carriers, claimed the document, are owned, controlled or operated by Middle East airfreight businessman Jaideep Mirchandani. The US is also accusing Mr Mirchandani, two of his family members and corporate officers and employees of “being engaged in transactions with individuals involved in weapons trafficking”.

The document accuses Mr Mirchandani of  “attempting to export a US aircraft that would be used to further support the Syrian regime”.

Mr Mirchandani along with Indira and Nitin Mirchandani are named in the Federal Registers Entity List, issued by the Export Adminstration at the Bureau of Industry and Security (BIS) at the department of commerce. Entities and people on the list are unable to export, re-export or transfer certain goods within the US, without a special licence. The availability of such licences is “very limited”.

Before the addition of the airlines to the Entity List – in April, according to a document seen by The Loadstar – the BIS demanded that Marana Air Park detain a 747F, the consignees of which were Aerospace One and Aircon Beibars, a UAE company.

Officials from BIS did not comment on the reasons behind the detention at the time despite repeated requests.

The document also accuses the individuals and companies listed of engaging in transactions with companies on the US Treasury’s Specially Designated Nationals list, including Iran’s Mahan Air – acts which, it claims, support the terrorist activities of the Islamic Revolutionary Guard Corps-Qods Force.

Some businesses are also under scrutiny by a UN research department examining activities in North Korea.

Veteran Avia had leased a 747-200F to Saudia Cargo, but the contract ended earlier this year and was not renewed.

Neither Veteran Avia’s nor Aerospace One’s website was working this morning.

Other companies listed in the same entry were Agneet Sky Ltd, Aerolus FZE and Aircon Beibars FZE. They were added to the list to “prevent these entities from engaging in activities that are contrary to the national security and foreign policy interests of the US”.

Update: Mr Mirchandani has made it clear to The Loadstar that he “denies all the allegations made against him in relation to the BIS investigation, believes he has been placed on the entity list in error, and has begun a legal challenge to remove himself from the list”.

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  • guest

    September 24, 2014 at 4:42 pm

    Aerospace move more cargo for US army from/to Afghanistan than any other airfreight company in Middle East. Now US blames this company who grown-up and developed to this level only thanks to US army cargo.

  • guest 2

    September 25, 2014 at 7:52 pm

    I was a pilot for these guys a few years back. you are correct, they fly ISAF freight to Afghanistan, or whatever else they can do to make money. I cannot say I am sorry to see that they have sanctions being placed on them. It was not a good place to work.

  • Guest-

    October 24, 2014 at 10:15 am

    Sorry to say – How can an Indian National open an Airline Company in Pakistan – have searched a lot on the net about this company & persons – same Person has been charged in 2002 by Indian Govt Agency’s with some illegal activities. All information available on net….

  • Farooq

    April 21, 2015 at 11:14 am

    This company’s workings are complicated. Owners were Indian nationals, aircraft were registered in Pakistan under the name of a Pakistani national and operation was conducted without transparency. After the blacklisting of previous companies, the same set up is registered under different names and there seems no change except the logo on aircraft and letterheads.
    This sort of business is dubious and U.S. cannot stop it. It carries on.

  • Smith

    October 14, 2015 at 4:49 am

    I worked for Jaideep Mirchandani, and can confirm that all said in above publication is correct. These guys are were always in business to earn more money than anyone else.