The Bengaluru-based airline, which is facing severe fund crunch, has already suspended operations indefinitely, DGCA sources said.
The airline has not been carrying out operations since Wednesday.
"We have received an application from the lessors seeking deregistration of three ATR-72 plane with Air Pegasus," a source said.
The application is being processed, it said, adding that of the three aircraft, one is already out of operation for quite sometime.
The deregistration will enable the lessors to take the aircraft out of the country after repossessing them.
29/07/16 PTI/Economic Times