AirAsia too is gearing up to fly and will compete with other budget carriers such as IndiGo, SpiceJet and GoAir besides new players such as Air Pegasus.
India's newest budget airline Air Costa Ltd, which started operations last October, is mulling to go public over the next three years as it hopes to clock profit in the upcoming fiscal starting April 2014, according to a report by Bloomberg.
The Vijayawada-based regional carrier has also been approached by a few investors and may look at selling stake in the company after some time, Air Costa's chairman Ramesh Lingamaneni told the global news agency.
Currently, the airline is operating a dozen flights a week with two aircraft and had recently placed an order for 50 jets with Embraer, the world's largest maker of regional aircraft. It placed an order for 25 of the E190-E2s and 25 of the E195-E2s model and retained purchase rights for an additional 25 aircraft.
06/03/14 Anuradha Verma/VC Circle
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India's newest budget airline Air Costa Ltd, which started operations last October, is mulling to go public over the next three years as it hopes to clock profit in the upcoming fiscal starting April 2014, according to a report by Bloomberg.
The Vijayawada-based regional carrier has also been approached by a few investors and may look at selling stake in the company after some time, Air Costa's chairman Ramesh Lingamaneni told the global news agency.
Currently, the airline is operating a dozen flights a week with two aircraft and had recently placed an order for 50 jets with Embraer, the world's largest maker of regional aircraft. It placed an order for 25 of the E190-E2s and 25 of the E195-E2s model and retained purchase rights for an additional 25 aircraft.
06/03/14 Anuradha Verma/VC Circle
