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Air Pegasus News -- Part 1
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luvleen
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PostPosted: Wed Jul 27, 2016 2:50 pm    Post subject: Reply with quote

Regional airline Air Pegasus cancels flights indefinitely, cites technical glitch

http://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/regional-airline-air-pegasus-cancels-flights-indefinitely-cites-technical-glitch/articleshow/53412926.cms

Another one bites the dust?
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basheer1211
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PostPosted: Wed Jul 27, 2016 11:39 pm    Post subject: Reply with quote

Air Pegasus suspends services, denies shutting down operations

http://www.thehindubusinessline.com/economy/logistics/air-pegasus-suspends-services-denies-shutting-down-operations/article8907636.ece
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PostPosted: Thu Jul 28, 2016 2:13 am    Post subject: Reply with quote

http://www.ch-aviation.com/portal/news/48139-indias-air-pegasus-temporarily-suspends-operations

Air Pegasus has temporarily suspended flights with effect from July 26. ch-aviation analysis of ADS-B data indicates the Indian regional operator last used its only one of three operational ATR72-500s - VT-APA (cn 699) - on Tuesday, July 26.

While a review of its web booking portal shows all flights for July 28 are cancelled, Air Pegasus is currently selling tickets for some sectors starting July 29.

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PostPosted: Thu Jul 28, 2016 4:55 pm    Post subject: Reply with quote

A spokesperson said the flights were cancelled due to "technical" issues and denied the company had suspended operations. Sources, however, said that lessors had taken repossession of some of its aircrafts due to nonpayment of dues.


http://timesofindia.indiatimes.com/business/india-business/Regional-carrier-Air-Pegasus-cancels-many-flights-indefinitely/articleshow/53430586.cms
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PostPosted: Fri Jul 29, 2016 3:41 pm    Post subject: Reply with quote

Lessors approach DGCA to get 3 Air Pegasus planes deregistered

http://www.business-standard.com/article/pti-stories/lessors-approach-dgca-to-get-3-air-pegasus-planes-deregistered-116072900652_1.html
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justbala
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PostPosted: Fri Jul 29, 2016 4:12 pm    Post subject: Reply with quote

basheer1211 wrote:
Lessors approach DGCA to get 3 Air Pegasus planes deregistered

http://www.business-standard.com/article/pti-stories/lessors-approach-dgca-to-get-3-air-pegasus-planes-deregistered-116072900652_1.html


That's the entire fleet.
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PostPosted: Thu Aug 04, 2016 9:19 pm    Post subject: Reply with quote

Air Pegasus is also not operating since July 27 after its lessors took back possession of three aircraft in the wake of its failure to pay lease rentals.

http://indiatoday.intoday.in/story/if-feasible-will-help-air-costa-air-pegasus-govt/1/732421.html
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PostPosted: Wed Aug 17, 2016 9:50 pm    Post subject: Reply with quote

http://www.business-standard.com/article/pti-stories/air-pegasus-in-talks-with-lessors-over-payment-issue-116081701468_1.html

Air Pegasus in talks with lessors over payment issue

August 17, 2016

Grounded regional carrier Air Pegasus today said it is in discussions with its aircraft lessors over the payment issue and may resume operations in one week's time.

The Bengaluru-based airline is not operating services since July 27 after its lessors took back possession of three aircraft in the wake of its failure to pay lease rentals, which runs over Rs seven crore.

"we are negotiating with our lessors. We are ready to pay 50 per cent of the dues now and the remaining 50 per cent in period stretching over six months," Air Pegasus Managing Director Shyson Thomas said after meeting Civil Aviation Minister Ashok Gajapathi Raju here today.

Thomas said that he was confident of sorting out all the financial issues with the lessors soon, adding, "we expect to resume operations in one week's time."

Raju during the meeting, however, made it clear to the airline that Government was ready to help the carrier but only in resuming operations but not in financial issues.

"We need to have airlines flying, not on the ground. We want airlines to survive, (but) we cannot take the liabilities and generate other problems," Raju said.

Last month Civil Aviation secretary R N Choubey had said that Government would examine the feasibility of any assistance if there was a request from the airlines.

"If they approach us, we will examine...What is feasible and what is not," he said.

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PostPosted: Sat Aug 27, 2016 9:13 am    Post subject: Reply with quote

http://www.thehindubusinessline.com/economy/logistics/air-pegasus-in-talks-with-pe-fund-to-restart-operations/article9026873.ece

Air Pegasus in talks with PE fund to restart operations

August 24

Air Pegasus, which suspended its operations last month, is making attempts for a revival by holding talks with a PE fund and a major South-East Asian airline.

Sources close to the airline told BusinessLine that Air Pegasus is in advanced discussion with PE Fund and is willing to dilute up to 30 per cent stake to raise money. It is expected to raise about ₹40 crore by diluting its stake. Sources said the Singapore-based investment firm Temasek could be one of the entities approached to rescue the airline.

A South-East Asian airline too, has approached Air Pegasus, sources said.

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PostPosted: Fri Oct 07, 2016 5:01 pm    Post subject: Reply with quote

http://zeenews.india.com/business/news/companies/air-pegasus-faces-license-suspension-threat_1937741.html#PIX&kdntuid=1&SPug=true&predirect=http%3A%2F%2Fd1.zedo.com%2Frs%2Fus%2Ffcm.html%3Fpid%3D21%26usr%3D&it=0&np=0

Air Pegasus faces license suspension threat

October 7, 2016

Air Peagasus' woes are mounting by the day. The Directorate General of Civil Aviation(DGCA) has issued a show-cause notice to the south-based air carrier as to why the airline's licence should not suspended.

Peagasus had cancelled all its flight in July due to “ technical glitches”. As per reports, the airline has been facing acute cash problems, non-payments to lessors and maintenance.

The carrier's fleet of three aircrafts are parked at airports, with lesseors demanding the aircrafts back. The airlines' pilots have also quit the airline.




http://timesofindia.indiatimes.com/india/DGCA-showcause-to-Air-Pegasus/articleshow/54734633.cms

DGCA showcause to Air Pegasus

Oct 7, 2016

The Directorate General of Civil Aviation (DGCA) has issued a show-cause notice to Air Pegasus as to why its airline licence should not suspended. The airline has not flown since August-end and the three aircraft in its fleet are parked at airports, with their leasors trying to repossess them.

"We have given the airline permit to Air Pegasus on the basis of its equipment and manpower. Now the three planes the airline had are being demanded back by the leasors and several of their pilots have quit. In this situation, we have issued to them a showcause notice as to why their licence should not be suspended," a senior DGCA official said.

The aviation ministry is taking a call on the leasors' demand for repossessing the aircraft.

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PostPosted: Sat Oct 15, 2016 6:46 am    Post subject: Reply with quote

http://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/dgca-deregisters-air-pegasus-all-three-atr-aircraft/articleshow/54844184.cms

DGCA deregisters Air Pegasus’ all three ATR aircraft

Oct 14, 2016

The Directorate General of Civil Aviation has deregistered all three ATR aircraft that were being operated by regional carrier Air Pegasus. "We have deregistered their aircraft," said a top DGCA official, who did not want to be identified.

Deregistration of aircraft would mean that the airline will not have any aircraft to operate their flights. The airline had suspended operations in July this year due to delay in payment of aircraft lease to lessors.

Shyson Thomas, managing director at Air Pegasus, told ET that the company is looking at two aircraft to restart its operations. His other company, Decor Aviation provides ground-handling services across 11major airports in India.

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PostPosted: Tue Oct 25, 2016 6:21 am    Post subject: Reply with quote

http://www.thehindubusinessline.com/economy/logistics/air-pegasus-writes-to-dgca-hopes-to-be-back-in-air-by-november-15/article9252277.ece

Air Pegasus writes to DGCA; hopes to be back in air by November 15

OCTOBER 21

Bengaluru-based regional airline Air Pegasus hopes to be back in the air by November 15.

In a four-page communication to the Directorate-General of Civil Aviation (DGCA) earlier this month, the airline said it hopes to bring in an ATR 72-500 aircraft by then.

In the communication, the airline listed out of the problems it had faced, including the issue of a leasing company first agreeing to a deferred system of payment for the lease rentals according to which Air Pegasus was to pay a certain amount as lump-sum and the remaining in instalments. However, the leasing company went back on the agreement, the communication said.

The airline also listed the various issues that it had faced with the Indian authorities, including its Air Operators Permit getting delayed, which forced its aircraft to sit idle.

The DGCA had issued a show-cause notice to the airline asking why its airline licence should not suspended as there had been a degradation in its capability as its three aircraft were grounded and some pilots had also left..

“If it is proved that there has been a degradation of the capability of the airline then it is violating of its licence conditions,” a senior DGCA official said.

The airline stopped operations in September after leasing companies decided to take back their aircraft given to the airline for non-payment of lease charges.

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PostPosted: Tue Nov 22, 2016 8:32 pm    Post subject: Reply with quote

http://indianexpress.com/article/business/aviation/dgca-suspends-flying-license-of-troubled-carrier-air-pegasus-4389992/

DGCA suspends flying license of troubled carrier Air Pegasus

November 22, 2016

The civil aviation regulator, DGCA has suspended the flying licence of the grounded regional carrier Air Pegasus after the Bengaluru-based carrier failed to give assurance on resumption of its operations. The order for suspension of the Air Operator Permit (AOP) or flying licence of Air Pegasus was issued on November 8, 2016, according to the DGCA. Air Pegasus has not been operating its services since July 27 following huge losses and its failure to pay lease rentals to the aircraft lessors. Earlier on October 5, the Directorate General of Civil Aviation (DGCA) had issued a show cause notice to Air Pegasus, asking why its AOP should not be suspended for its failure to carry out operations.

As per Section 15(2)(b) of Schedule XI of the Aircraft Rules 1937, DGCA may cancel or suspend permit of an airline for such period as it thinks fit, if it is satisfied that the holder of the permit has failed to establish a safe, efficient and reliable service.

The regulator had given 15 days time to the regional carrier to respond to its notice.

Before suspending operations for an indefinite period, the carrier flew from Bengaluru to at least seven destinations in southern India.

“Capability to operate services is one of the conditions to secure flying permit. However, all three aircraft of Air Pegasus are grounded and its capability (to run the services) has degraded,” the official said.

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PostPosted: Fri Dec 02, 2016 7:55 am    Post subject: Reply with quote

Two ATR72s, VT-APA & VT-APB have been repossessed and ferried out of BLR.
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PostPosted: Tue Jan 10, 2017 7:11 pm    Post subject: Reply with quote

http://www.livemint.com/Companies/leGz321rhPYKlelNZGJq8I/Grounded-Air-Pegasus-looks-to-resume-operations-from-1-March.html

Grounded Air Pegasus looks to resume operations from 1 March

Jan 10 2017

Bengaluru-based regional start-up airline Air Pegasus, which had shut down operations because of a cash crunch last year, said it hopes to fly again from 1 March.

Air Pegasus has entered into a strategic partnership with ABC Aviation and Training Services Pvt. Ltd;-led Flyeasy India to revive its operations from 1 March, the airline said in a statement on Tuesday.

"Air Pegasus will continue as a regional airline operating in tier-II and tier-III cities", said Shyson Thomas, managing director of Air Pegasus.

The order for suspension of the air operator permit (AOP) or flying licence of Air Pegasus was issued on 8 November 2016, according to the DGCA.


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PostPosted: Wed Jan 11, 2017 1:58 pm    Post subject: Reply with quote

Was just a matter of time before this happened:

DNA using a picture of Pegasus Airlines, in a report about Air Pegasus.

http://www.dnaindia.com/money/report-air-pegasus-gets-a-white-knight-in-flyeasy-2291239
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justbala
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PostPosted: Thu Jan 12, 2017 9:39 pm    Post subject: Reply with quote

How many a/c do they have now? I see only one parked at BLR
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PostPosted: Sat Jan 14, 2017 10:44 am    Post subject: Reply with quote

One of their ATR72-500s, VT-APD has recently been ferried out of BLR.
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justbala
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PostPosted: Sun Jan 15, 2017 1:36 pm    Post subject: Reply with quote

Which would basically mean their entire fleet is gone now.

https://www.planespotters.net/production-list/search?fleet=Air-Pegasus&manufacturer=ATR&type=ATR-42
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PostPosted: Fri Mar 03, 2017 9:14 am    Post subject: Reply with quote

http://www.ch-aviation.com/portal/news/53811-indias-air-pegasus-relaunch-delayed

India's Air Pegasus relaunch delayed

Indian regional carrier Air Pegasus (OP, Bangalore Int'l) had hoped to resume ops this week, but has had to put its restart on hold as new investor FlyEasy (Bangalore Int'l) is still carrying out due diligence, reports the Times of India.

Under the investment deal, Flyeasy took a 74% stake in Air Pegasus for a first phase investment of INR260 million (USD3.9 million) with a second phase due to be INR600 million (USD9 million). Rajesh Ebrahim, Managing Director of Flyeasy, said that strategic partnerships were the future of Indian aviation. "We intend to build a strong network with Flyeasy operating into long thin routes and Air Pegasus connecting to Tier II and III cities concentrating on the south initially," he said.

Air Pegasus ceased operations in July last year following cash flow constraints which prevented it from settling leasing fees with Elix Aviation Capital and Nordic Aviation Capital from which it had leased three ATR72-500s. It had hoped to resume ops in November 2016, but its Air Operator's Permit (AOP) was cancelled after the carrier failed to provide guarantees concerning its proposed resumption of operations.

Prior to the suspension of operations, Air Pegasus ran scheduled passenger flights throughout Southern India.

For its part, Flyeasy has applied to the Indian Ministry of Civil Aviation for a Pan-Indian Air Services Permit. It will presumably conduct flights using Air Pegasus's AOP, which can be reactivated.

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PostPosted: Fri Apr 14, 2017 7:57 am    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/55110-indias-air-pegasus-to-fly-again-using-ex-kingfisher-atr-72

India's Air Pegasus to fly again using ex-Kingfisher ATR-72

Air Pegasus is hoping to resume operations shortly, and has submitted the necessary documentation to the Directorate General of Civil Aviation (DGCA), reports The Economic Times of India. The Indian regional carrier plans to use an ex-Kingfisher Airlines ATR-72 M-YRGL (msn 733) currently stored at Kuala Lumpur Subang.

Shyson Thomas, managing director of Air Pegasus, told The Economic Times that they are waiting on the arrival of the aircraft. "We will start operations as and when we get the approvals to import the aircraft, as we have the required staff to start operations," he said.

Air Pegasus ceased operations in July last year following cash flow constraints which prevented it from settling leasing fees with Elix Aviation Capital and Nordic Aviation Capital from which it had leased three ATR72-500s. According to the news site, Air Pegasus has since secured INR200 million (USD3 million) funding through a 30% stake sale to an unnamed Bengaluru-based investor. The promoters have also invested an additional INR130 million (USD2 million).

As previously reported, start-up carrier FlyEasy (Bangalore Int'l) penned a deal to acquire up to 74% of Air Pegasus back in January in a transaction worth around INR870 million (USD13.5 million).

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