Bengaluru: Regional airline Air Costa is in advanced talks with foreign investors to raise ?350 crore to expand its operations and buy more aircraft.
The airline’s Chief Financial Officer Vivek Choudhary told BusinessLine that the company is willing to offer up to 26 per cent equity in Air Costa. “We will expand our equity base so that the funds are invested in the airline’s operations,” he said.
The Vijayawada-based airline has also applied for a pan-India licence to expand its network and plans to induct six more aircraft by 2016.
The airline has four Embraers as of now, but will return two E170s soon as they are making losses. They will be replaced with two 110-seater E190s, which have been profitable for the airline.
18/09/15 K Giriprakash/Business Line
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The airline’s Chief Financial Officer Vivek Choudhary told BusinessLine that the company is willing to offer up to 26 per cent equity in Air Costa. “We will expand our equity base so that the funds are invested in the airline’s operations,” he said.
The Vijayawada-based airline has also applied for a pan-India licence to expand its network and plans to induct six more aircraft by 2016.
The airline has four Embraers as of now, but will return two E170s soon as they are making losses. They will be replaced with two 110-seater E190s, which have been profitable for the airline.
18/09/15 K Giriprakash/Business Line
