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Tuesday, 5 May 2015

Air Costa plans to raise funds through stake sale; to add three more Embraer aircraft

MUMBAI: Air Costa will add three more Embraer aircraft in its fleet between September and January and plans to raise funds through a stake sale to a private equity investor in the next three months, the director and chief executive of its parent LEPL Group said on Saturday.

The Vijaywada-based regional carrier currently has four Embraer jets — 67-seater E-170s and 112-seater E-190s — and operates 34 daily flights to south Indian cities from Vijaywada and Chennai. It started operations in October 2013.
04/05/15 Anirban Chowdhury/The Economic TimesJohney Abraham is now heading sales at the airline and it is looking for a new head of marketing, an executive said.

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