Hyderabad: LEPL Group, a Vijayawada-based real estate and renewable energy company, will be investing over $100 million (or approximately Rs 617 crore) in its airline business ‘Air Costa’ through internal accruals during the next two years, according to its chairman L Ramesh.
Announcing that Air Costa, the first regional airline from Andhra Pradesh, would be launching its commercial operations with the first flight from Vijayawada to Bangalore on October 14, Ramesh told mediapersons on Tuesday that the company would initially start with two Embraer E-170 jets. It aims to have five E-170s and E-190s this year, 10 next year and take the total fleet size to 25 aircraft by 2018.
“Air Costa will initially connect Vijayawada, Chennai, Hyderabad, Bangalore, Jaipur and Ahmedabad and spread its wings to other cities like Pune, Vizag, Goa, Madurai, Mysore and Thiruvananthapuram in a phased manner,” he said, adding it would be having pan-India operations by 2015 with 14 routes and reach 25 destinations in three years from then.
Read news in full 08/10/13 Business Standard
Sunday, 13 October 2013
LEPL to invest Rs 600 cr in Air Costa
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment