MESCO Airlines set to resume operations

New Delhi: In its quest to revive its past glory, MESCO Airlines Ltd, a business unit of the MESCO group is finally seeing light at the end of the tunnel. The once thriving company is all set to make an impressive comeback by revamping its charter service operations and shedding off its debts under the debt recovery tribunal.
Speaking on the occasion, Ms. Shipra Singh, Director, MESCO Aviations Limited (M.A.L.), said "We are working towards financial stability and have cleared the dues of almost 100 percent of our secured creditors. The Company has paid off it'''s over due term loans with IDBI, IFCI, UTI and LIC on a one time settlement scheme. 100 percent lending of the unsecured creditors have also been cleared. Embarking on a growth curve, we intend to ensure that MESCO Aviation Ltd marks a successful stride."
MESCO Airlines Ltd. (MAL) was incorporated in August 1991.
MAL is the first private helicopter charter company in India. It is pioneered in large sized helicopters. It started its operations with the induction of 2 UH-12E Hiller Helicopter for Agro-spraying activities over the plantation crops in 1993. The company obtained a Air Taxi Operator permit from the Director General of Civil Aviation (DGCA) and is engaged in the operation of non-scheduled aviation in the helicopter and Multi Engine Aero plane service segment of the Aviation Industry.
03/10/08 Atul Singh/MyNews.in

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Categories: Indian Aviation- In General Oct 2008