Damania last month visited grounded southern regional carrier Air Pegasus which has been struggling for funds, delaying payments and trying to raise cash to set the airline flying again. It cancelled flights indefinitely on July 27. Two of its three leased ATR aircraft have were reposessed by Dublin-based lessor Elix Aviation for nonpayment of rentals.
The talks didn't progress and both sides had different versions regarding the reasons.
25/08/16 Anirban Chowdhury/Economic Times