Bengaluru: Regional airline Air Pegasus, which suspended its operations last month, is making attempts for a revival by holding talks with a PE fund and a major South-East Asian airline.
Sources close to the airline told BusinessLine that Air Pegasus is in advanced discussion with PE Fund and is willing to dilute up to 30 per cent stake to raise money. It is expected to raise about ₹40 crore by diluting its stake. Sources said the Singapore-based investment firm Temasek could be one of the entities approached to rescue the airline.
A South-East Asian airline too, has approached Air Pegasus, sources said.
In another development, the airline sources said that the regulator DGCA had recently convened a meeting between the airline management and the lessors to arrive at a solution for restarting Air Pegasus. Sources said the deadline set for recommencement of the operations was September 1.
During the discussion, the airline management agreed to pay 50 per cent of the three-month arrears to the lessors and the rest in instalments once the operations are resumed. The regulator is learnt to have informed the lessors that all the airlines in the country had the support of the civil aviation ministry.
24/08/16 Business Line
To Read the News in full at Source, Click the Headline
Sources close to the airline told BusinessLine that Air Pegasus is in advanced discussion with PE Fund and is willing to dilute up to 30 per cent stake to raise money. It is expected to raise about ₹40 crore by diluting its stake. Sources said the Singapore-based investment firm Temasek could be one of the entities approached to rescue the airline.
A South-East Asian airline too, has approached Air Pegasus, sources said.
In another development, the airline sources said that the regulator DGCA had recently convened a meeting between the airline management and the lessors to arrive at a solution for restarting Air Pegasus. Sources said the deadline set for recommencement of the operations was September 1.
During the discussion, the airline management agreed to pay 50 per cent of the three-month arrears to the lessors and the rest in instalments once the operations are resumed. The regulator is learnt to have informed the lessors that all the airlines in the country had the support of the civil aviation ministry.
24/08/16 Business Line
0 comments:
Post a Comment