New Delhi: Regional airline Air Costa halted its flight operations on Thursday, following financial issues with its leasing companies.
Raising questions over the financial viability of regional airlines in India, the operational halt comes days after Bengaluru-based Air Pegasus grounded its operations.
“We had some financial issues with the leasing company and we are in the process of re-negotiation. We are very much in business and have only temporarily suspended operations for today.
We will resume our flights tomorrow,” said Kavi Chaurasia, vice president, Marketing and Communications at Air Costa told The Hindu. He added that payment dues to leasing companies are “one of the core reasons” for halting operations.
Air Costa, which will complete three years in October, operates three Embraer 190 aircraft and flies to nine destinations — Jaipur, Ahmedabad, Bengaluru, Chennai, Hyderabad, Visakhapatnam, Coimbatore, Tirupati and Vijayawada.
To Read the News in Full 04/08/16 Somesh Jha/The Hindu
Raising questions over the financial viability of regional airlines in India, the operational halt comes days after Bengaluru-based Air Pegasus grounded its operations.
“We had some financial issues with the leasing company and we are in the process of re-negotiation. We are very much in business and have only temporarily suspended operations for today.
We will resume our flights tomorrow,” said Kavi Chaurasia, vice president, Marketing and Communications at Air Costa told The Hindu. He added that payment dues to leasing companies are “one of the core reasons” for halting operations.
Air Costa, which will complete three years in October, operates three Embraer 190 aircraft and flies to nine destinations — Jaipur, Ahmedabad, Bengaluru, Chennai, Hyderabad, Visakhapatnam, Coimbatore, Tirupati and Vijayawada.
To Read the News in Full 04/08/16 Somesh Jha/The Hindu
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