Jagson Airlines to fly as regional carrier

New Delhi: Jagson Airlines will start operations as a scheduled regional carrier in about three months. The airline is also planning to offload part of its stake to private equity (PE) players by May.
The company recently got a no-objection certificate (NOC) from the government to fly as a regional carrier from Delhi. The parent company, oil exploration major Jagson International, holds majority stake in the airline.
The airline currently has a fleet of five aircraft and will be acquiring six to eight 50-seater Bombardier or ATR aircraft by end of 2008. “Of the eight aircraft that we will be acquiring, two will be on lease and purchase options,” Jagson Airlines chairman Jagdish P Gupta told ET. Two aircraft are likely to be delivered in three months’ time.
The company raised Rs 20 crore through allotment of preferential shares last year in November, which it is currently using for lease deposits of aircraft, creating infrastructure and hiring manpower for the soon-to-belaunched regional carrier.
28/01/08 Vishakha Talreja & Shruti Chauhan/Economic Times

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Categories: Jagson Airlines Jan 2008, New Jan 2008, Regional Airlines Jan 2008