Bangalore-based regional airline Air Pegasus expects to fly again from March after Flyeasy India agreed to acquire 74 per cent in the airline which had to shut down operations because of a cash crunch last year.
“We have agreed to acquire 74 per cent in Air Pegasus and the rest 26 per cent will remain with with its founder Shyson Thomas,” said Flyeasy Group Chief Executive Officer Rajesh Ebrahhim while talking to The Pioneer.
The civil aviation regulator, Directorate General of Civil Aviation (DGCA), had suspended the flying licence of Air Pegasus in November after the Bengaluru-based carrier failed to give assurance on resumption of its operations then.
As part of revamping the operation, Air Pegasus will induct of 24 aircrafts in the next four years out of which 6 will be inducted this year.
“Air Pegasus will continue as a regional airline operating in tier 2 and tier 3 cities while Flyeasy airlines will operate as a Pan India operator with all Airbus fleet and will have a commercial launch on May 2017”, said shyson Thomas, the Managing Director of Air Pegasus.
It is learnt that Zulfikar Ahmed khan will be the group Chairman, Misbaudeen the Managing Director of Air Pegasus and Suhail sheriff the Managing Director of Flyeasy. Shyson Thomas will continue in the board as Vice chairman.
“We intend to build a strong network with Flyeasy operating into long thin routes and Air Pegasus connecting to tier 2 and 3 cities concentrating on the south initially.” added Rajesh.
“ Strategic partnerships and codeshares will be the future of Indian aviation and I feel that we have moved in the right direction” he added.
Before suspending operations on July 27 for an indefinite period, Air Pegasus flew from Bengaluru to at least seven destinations in southern India.
At present it does not have a single aircraft in the fleet as all three planes which it had leased for operations have been deregistered by the aviation regulator DGCA following the lessors petitioning it to do so after the airline defaulted on lease rentals.