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luvleen Member
Joined: 02 Jul 2012 Posts: 179 Location: Bombay
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basheer1211 Member
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Thu Jul 28, 2016 2:13 am Post subject: |
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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. _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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basheer1211 Member
Joined: 28 Dec 2012 Posts: 271 Location: India
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justbala Member
Joined: 11 Jan 2007 Posts: 1898 Location: Bangalore
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Posted: Fri Jul 29, 2016 4:12 pm Post subject: |
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That's the entire fleet. |
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Wed Aug 17, 2016 9:50 pm Post subject: |
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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.
_________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Sat Aug 27, 2016 9:13 am Post subject: |
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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.
_________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Fri Oct 07, 2016 5:01 pm Post subject: |
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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. _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Sat Oct 15, 2016 6:46 am Post subject: |
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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. _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Tue Oct 25, 2016 6:21 am Post subject: |
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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. _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Tue Nov 22, 2016 8:32 pm Post subject: |
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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. _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Fri Dec 02, 2016 7:55 am Post subject: |
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Two ATR72s, VT-APA & VT-APB have been repossessed and ferried out of BLR. _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Tue Jan 10, 2017 7:11 pm Post subject: |
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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.
_________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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justbala Member
Joined: 11 Jan 2007 Posts: 1898 Location: Bangalore
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Posted: Thu Jan 12, 2017 9:39 pm Post subject: |
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How many a/c do they have now? I see only one parked at BLR |
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Sat Jan 14, 2017 10:44 am Post subject: |
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One of their ATR72-500s, VT-APD has recently been ferried out of BLR. _________________ 11000 posts (and counting) on Airliners-India.
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justbala Member
Joined: 11 Jan 2007 Posts: 1898 Location: Bangalore
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Fri Mar 03, 2017 9:14 am Post subject: |
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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. _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Fri Apr 14, 2017 7:57 am Post subject: |
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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). _________________ 11000 posts (and counting) on Airliners-India.
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747-237 Member
Joined: 11 Jun 2007 Posts: 11351 Location: Gordon Gekko's Boardroom
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Posted: Thu Nov 30, 2017 6:47 am Post subject: |
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http://www.thehindubusinessline.com/economy/logistics/air-pegasus-ties-up-with-new-investors-for-20-cr/article9976801.ece
Air Pegasus ties up with new investors for ₹20 cr
Air Pegasus, which suspended operations a year ago, has raised funds from a clutch of investors and is set to resume its operations in January.
“We signed an agreement early this month with a Malaysian company to lease an ATR,” the airline’s Managing Director Shyson Thomas told BusinessLine.
Pegasus, which had suspended operations on November 8, 2016 for lack of funds, has been able to rope in investors who were associated with the carrier earlier.
These investors will pump ₹20 crore into the airline for a 60 per cent stake. A first tranche of ₹8 crore has already been disbursed.
The airline will commence operations in the first half of January.
In early March this year, Pegasus tried to revive its operations, tying up with ABC Aviation and Training Services Pvt Ltd-led Flyeasy India, which had promised to invest in the company. But the airline did not receive the funds on time and hence had to abandon the plan.
The airline has now tied up with Dawn Aviation for the funds.
“With the funds in place, the banks have assured us that they will restructure the debt and release more funds for the working capital needs,” Thomas said. Most part of the debt has now been settled, he said.
It has also leased an ATR 72-500 aircraft from US-based Amur Aviation, which will be pressed into service from January. It plans to get two more ATRs next year from Vietnam Airlines. The first ATR is currently parked with Sepang Aircraft Engineering, an MRO based out of Kaula Lampur.
It will undergo a 12-month check in December before being released to Air Pegasus.
Thomas said Pegasus has been able to get the aircraft at a far lesser rate than before. It will pay $115,000 per month as leasing charges to Amur Aviation apart from a three-month deposit. “The rates have come down because the leasing companies have more confidence in the Indian aviation story than before. The Kingfisher Airlines debacle had made the leasing companies wary of airlines in India,” he pointed out.
The leasing companies used to charge $150,000-175,000 per month earlier with a six-month deposit. The promoters of the airline said the regulator, the Director General of Civil Aviation (DGCA), is expected to lift the suspension of AOP (air operator permit) once the aircraft gets inducted into the fleet.
The airline has already written to DGCA saying it will import the nine-year-old 72-seater aircraft. Pegasus’ AOP had been suspended because of lack of aircraft.
The airline expects to fly to Kochi, Madurai, Hubballi and Vijayawada initially.
It already has four sets of pilots and the rest of the cabin crew in place.
“We are also planning to shortly apply for the UDAN scheme,” Thomas said. “It is good to have a mix of regional connectivity and tier two routes.”
_________________ 11000 posts (and counting) on Airliners-India.
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The_Goat Member
Joined: 03 Mar 2007 Posts: 3260 Location: South of France
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Posted: Sun Dec 03, 2017 4:53 pm Post subject: |
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747-237 wrote: | http://www.thehindubusinessline.com/economy/logistics/air-pegasus-ties-up-with-new-investors-for-20-cr/article9976801.ece
[i]Air Pegasus ties up with new investors for ₹20 cr
Air Pegasus, which suspended operations a year ago, has raised funds from a clutch of investors and is set to resume its operations in January.
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Once Indigo's ATRs come on line, Air Pegasus and others like it can kiss themselves goodbye.
I think there are better things that can be done with 20 crore INR. _________________ I don't know which is the more pampered bunch : AI's widebodies (the aunties) or Jet's widebodies (the planes).
-Jasepl |
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