Hyderabad: Regional air carrier Air Costa is planning to invest $100 million by December next year as part of its pan-India expansion plans. The airliner has applied for a national licence with the Director General of Civil Aviation (DGCA) and expects to get it by the end of this month or early January. Besides, Air Costa is in talks with strategic investors for raising funds for expanding its services and strengthening its fleet strength as well.
“From a regional carrier of south India, we are looking at a pan-India expansion. As part of it, we plan to link under served markets with more direct flights, increasing frequencies and routes, thus serving growing metropolitan areas, as well as key secondary and tertiary business centers. The estimated investment is expected to be in the range of $85-$100 million by December 2016. So far, we have invested about $70 million,” Vivek Choudhary, deputy CEO and CFO, Air Costa, told FE.
Vijayawada-based Air Costa is part of the privately-held LEPL group, a diversified entity with interests in property development and infrastructure development in the commercial, residential, education, power and health sectors.
05/12/15 BV Mahalakshmi/Financial Express
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“From a regional carrier of south India, we are looking at a pan-India expansion. As part of it, we plan to link under served markets with more direct flights, increasing frequencies and routes, thus serving growing metropolitan areas, as well as key secondary and tertiary business centers. The estimated investment is expected to be in the range of $85-$100 million by December 2016. So far, we have invested about $70 million,” Vivek Choudhary, deputy CEO and CFO, Air Costa, told FE.
Vijayawada-based Air Costa is part of the privately-held LEPL group, a diversified entity with interests in property development and infrastructure development in the commercial, residential, education, power and health sectors.
05/12/15 BV Mahalakshmi/Financial Express
