Thursday, March 02, 2017

Air Costa operations to remain suspended till March 5

New Delhi: Air Costa today said its operations will remain suspended till March 5 as the regional airline is still scrambling to raise funds.

On Tuesday, the Vijayawada-based airline announced halting of its services for two days due to cash crunch and financial issues with aircraft lessor.

The troubled carrier has also not paid salaries to majority of its employees for the month of January.

"We have announced suspension of operations till Sunday (March 5)," Air Costa Vice President (Marketing) Kavi Churasia told PTI.

Negotiations are on with a potential investor for raising funds and it would take some time to complete the financial transaction. Taking these factors into account, the suspension of operations has been extended, he said.
01/03/17 PTI/Economic Times