Ajay Singh looking to do a SpiceJet with MDLR

Bangalore: After exiting the board of low-cost airline SpiceJet last year, Ajay Singh has initiated the process of investing in another carrier — the beleaguered MDLR Airlines — hoping to breathe new life into it.
New Delhi-based MDLR, a regional carrier, stopped operations in November 2009 after defaulting on lease payments to BAe for its Avro RJ70 aircraft.
According to a source in the know, Singh, who had promoted SpiceJet along with London-based NRI Bhupendra Kansagra, has sought the Ministry of Civil Aviation’s permission to pick up close to 23% stake in MDLR.
MDLR, which began operations in March 2007, was founded by Gopal Goyal Kanda, a politician from Haryana, and is wholly owned by Murli Dhar Lakh Ram (MDLR) Group.
The company’s schedule airline operating permit has become defunct as all the aircraft in its fleet have been deregistered by the Directorate General of Civil Aviation (DGCA) for over a year now. However, its airline operating permit is still valid.
16/02/11 Praveena Sharma/Daily News & Analysis

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Categories: MDLR Feb 2011