Friday, April 28, 2017

India's Air Carnival ceases operations during sale talks

Air Carnival(2S, Coimbatore) has ceased operations as its owners attempt to sell off the low-cost carrier, reports The Hindu Business Online. Analysis of Flightradar24 ADS-B data shows that Air Carnival's sole aircraft – ATR72-500 VT-CMA (msn 0767) – has not operated since April 5. The aircraft is leased from Elix Aviation Capital, which is apparently now trying to regain possession of it.

Promoter Coimbatore Marine College (CMC) said earlier this month that it wanted to sell its 100% stake in Carnival for about INR730 million (USD11.2 million), claiming it was in advanced talks with a suitable investor. There has not yet been any confirmation if that sale has proceeded.
28/04/17 ch-aviation