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Air Costa News -- Part 1
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747-237
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PostPosted: Fri Mar 18, 2016 9:35 pm    Post subject: Reply with quote

Air Costa has added a new (pre-owned) E190 to the fleet today, as VT-LPB.
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747-237
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PostPosted: Wed Apr 06, 2016 2:55 pm    Post subject: Reply with quote

Air Costa has ended E170 ops. They are now exclusively an E190 operator.
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PostPosted: Thu Apr 07, 2016 7:41 am    Post subject: Reply with quote

747-237 wrote:
Air Costa has ended E170 ops. They are now exclusively an E190 operator.


Do they offer the business class on the E-190s now?
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PostPosted: Fri Apr 08, 2016 12:24 pm    Post subject: Reply with quote

justbala wrote:
747-237 wrote:
Air Costa has ended E170 ops. They are now exclusively an E190 operator.


Do they offer the business class on the E-190s now?


No. Its 112Y
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747-237
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PostPosted: Thu Aug 04, 2016 4:15 pm    Post subject: Reply with quote

http://www.livemint.com/Companies/Ken5VjbFnLkfQAxJYqZNcM/Air-Costa-cancels-all-flights-over-internal-issues.html

Air Costa cancels all flights over internal issues

Aug 04 2016

Air Costa, a regional airline that operates in southern India, cancelled all its flights on Thursday, citing problems with its aircraft lessors. The airline said flights will restart on Friday.

“Air Costa has suspended its operation of all 24 flights only for today i.e. 4 August. Tomorrow i.e. on 5 August, we will start our operations as scheduled,” an Air Costa spokesperson said.

The move, which follows similar cancellations last month by Air Pegasus, another regional airline in south India, has triggered concerns over the financial viability of regional airline operations.

“We are resolving the issues we have with lessors. Currently, we are operating with three Embraer E190s and simultaneously, other developments about inducting new aircraft as well as a pan-India licence are in process. We are very positive about our operations and future expansions. There are absolutely no issues regarding salaries in Air Costa. We have also taken care of the passengers scheduled to fly today,” the spokesperson added.


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747-237
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PostPosted: Fri Aug 05, 2016 4:56 pm    Post subject: Reply with quote

http://www.livemint.com/Companies/f0j7I8ROZCID74Z2c2KgeJ/Air-Costa-resumes-flight-operations-after-resolving-trouble.html

Air Costa resumes flight operations after resolving trouble with lessors

Aug 05 2016

Air Costa, a regional airline that operates in south India, on Friday said it has resumed its flight operations with nine flights. The airline will continue to operate 24 daily flights from Saturday as scheduled.

On Thursday, Air Costa had cancelled all its flights, citing problems with its aircraft lessors.

“We had to cancel our flights for a day due to an issue with our lessor and that has been resolved now. We also made sure that booked passengers should not be affected by this. Now we are back in operations resuming the first flight by 2:35pm and subsequently from Saturday full operations with 24 scheduled flights,” said Vivek Choudhary, chief executive officer, Air Costa.

“We have also taken necessary measures so that such sudden suspension shall not happen in future. We are focusing on inducting more aircraft in the fleet and eyeing on getting pan-India licence for larger reach and connectivity. We have aggressive expansion plans and it will prevail,” said Choudhary.


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iah87
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PostPosted: Sun Aug 07, 2016 6:02 am    Post subject: Reply with quote

It is clear that India cannot support more than 4 or 5 airlines. The southern regional type of airline is not viable any more as AI, Jet, Indigo and Spice jet cover all the cities in the south.

Paramount went under several years ago when there was even less competition, now both Air Pegasus and Air Costa are in trouble and I heard that TruJet has cancelled several flights. The passengers are also reluctant to book these airlines especially when there are several flights on the big 4.
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747-237
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PostPosted: Wed Aug 10, 2016 1:57 am    Post subject: Reply with quote

http://www.thehindubusinessline.com/economy/logistics/air-costa-may-sell-26-stake-to-qatar-airways/article8964947.ece

Air Costa may sell 26% stake to Qatar Airways

AUGUST 09

Air Costa, the Vijayawada based airline, is in talks with Qatar Airways for an equity tie up.

Sources in the regional airline told BusinessLine that even as Air Costa suspended its operations for a day early this month, its top management was in Doha in Qatar to negotiate the deal.

Sources said that Air Costa is willing to sell 26 per cent equity to the foreign airline but is expected to shed a higher stake if it is able to get more funds. Last year, it was in talks with a couple of foreign investors to sell 26 per cent stake to raise Rs. 350 crore. It has placed orders for 50 new E190s worth $ 2.94 billion which are expected to start arriving from 2018.

Air Costa now has three 110 seater E190 Embraers and flies to nine destinations. It operates 35 flights daily and has already flown over 1 million passengers. By 2018, it plans to have a total fleet size of 12 aircraft and fly to 18 stations.

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747-237
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PostPosted: Tue Oct 04, 2016 7:18 am    Post subject: Reply with quote

http://www.business-standard.com/article/companies/air-costa-receives-national-permit-116100400010_1.html

Air Costa receives national permit

October 4, 2016

Air Costa on Monday received a national permit from the Directorate General of Civil Aviation. This will enable it to launch pan India services.

At present the airline covers 8 destinations including Vijayawada, Bengaluru, Chennai, Hyderabad, Jaipur, Ahmedabad, Tirupathi, and Vizag. The airline has three Embraer E190 planes.

"With this permit we can now replicate our philosophy of connecting the smaller towns and cities to the metros across India. We have plans to connect Delhi and Mumbai to smaller towns and cities across India. Our immediate focus now moves to adding aircraft and expanding our operations," said Vivek Choudhary, Air Costa chief executive officer in a statement.

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PostPosted: Wed Oct 05, 2016 4:54 pm    Post subject: Reply with quote

747-237 wrote:
http://www.business-standard.com/article/companies/air-costa-receives-national-permit-116100400010_1.html

Air Costa receives national permit

October 4, 2016

Air Costa on Monday received a national permit from the Directorate General of Civil Aviation. This will enable it to launch pan India services.



So what were they having so far? Was it not a pan India permit? If so, how were they able to launch Chennai - Jaipur flights?

Is a national permit for airlines similar to the one for lorries?
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nadarji
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PostPosted: Wed Oct 05, 2016 6:47 pm    Post subject: Reply with quote

AFAIK, the permit is only for access to the "metro" airports - A south regional permit allows MAA/HYD/BLR. The carrier CANNOT fly to BOM/DEL/CCU, but can fly to any other city.
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747-237
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PostPosted: Thu Oct 06, 2016 6:55 am    Post subject: Reply with quote

http://www.telegraphindia.com/1161006/jsp/business/story_112164.jsp#.V_WnLknD-M8

Air Costa in stake sale talks

Oct. 5

Air Costa is in advanced stages of discussions with foreign carriers, including those from the Gulf, for a possible stake sale, as the Vijayawada-based airline seeks to spread its wings after securing a flying permit for pan-India operations.

The carrier is also in the process of sealing a deal for the leasing of six aircraft from GE Capital Aviation Services of Singapore, which is expected to be in place by this month, CEO Vivek Choudhary said.

The airline operates from eight airports, mainly in southern India, as a regional carrier with a fleet of three Embraer 190 aircraft. Air Costa plans to induct a fourth Embraer this month.

"We are in talks for (stake sale), which are in advanced stages, with carriers from the Gulf and an airline from Southeast Asia," Choudhary said, adding the quantum of stake to be diluted has not been decided yet.

The top Air Costa official said securing a national flying permit would boost the airline's prospects of taking a foreign partner on board.

The airline expects to start pan-India operations from the first quarter of 2017-18. To begin with, the airline is looking to connect smaller cities such as Vijayawada, Tirupati and Visakhapatnam with Delhi, Choudhary said. "We will also provide connectivity to such cities from Mumbai in the future."

Air Costa aims to have a total of 10 E190 planes in its fleet by December 2017.

On competition in the low-cost carrier segment - which accounts for 70 per cent of the total domestic market - Choudhary said his airline would target the niche 80-150-seater segment, which is growing at over 35 per cent year-on-year.

Noting that the government's proposed regional connectivity scheme and improvement in airport infrastructure would boost this segment, he said the pan-India operator permit had come at the most appropriate time.

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abhijith16
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PostPosted: Tue Feb 28, 2017 9:28 am    Post subject: Reply with quote

Air Costa has suspended operations for two days due to cash problems.
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747-237
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PostPosted: Tue Feb 28, 2017 11:53 am    Post subject: Reply with quote

http://profit.ndtv.com/news/industries/article-vijayawada-based-air-costa-temporarily-suspends-flight-operations-1664375

Vijayawada-Based Air Costa Temporarily Suspends Flight Operations

February 28, 2017

Regional carrier Air Costa today temporarily suspended its flight operations after failing to resolve "financial issues" with the aircraft lessor.

The airline has grounded the two leased Embraer aircraft which it had been operating and the services will remain suspended till Wednesday, an Air Costa official told PTI from Vijayawada.

Prior to suspending its flight services, Air Costa had been operating 16 flights daily to eight destinations.

According to the official, the airline had some financial issues with the lessor, which forced it to ground the aircraft.

"We are trying to resolve the issue. We are also in advanced stage of talks for fund infusion in the airline," the official said.

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5Patel
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PostPosted: Wed Mar 01, 2017 12:36 am    Post subject: Reply with quote

abhijith16 wrote:
Air Costa has suspended operations for two days due to cash problems.


And here's the beginning of the end...

Quoting from Zoom Air / Zexus Air News - Part 1 thread

The_Goat wrote:
5Patel wrote:


Counting pages for discussion on the airline in this forum before talks of grounding or stake sales will give you answers.

Air Pegasus has made it till Page 3.
Air Costa has made it till Page 4.
Mehair has made it till Page 1
Ventura Airconnect does not even have a thread here.

I dont think Zoom Air, Trujet & Air Carnival can make it to more than 5 pages. Same might be true for all future regional airlines.


Laughing Laughing

But aren't Air Costa and Mehair still operational, as are Air Carnival and Trujet?

and the late lamented Kingfisher has made it past seven pages and counting.
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747-237
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PostPosted: Thu Mar 02, 2017 7:09 am    Post subject: Reply with quote

http://www.india.com/news/agencies/air-costa-operations-to-remain-suspended-till-march-5-1884724/

Air Costa operations to remain suspended till March 5

March 1, 2017

Air Costa today said its operations will remain suspended till March 5 as the regional airline is still scrambling to raise funds.
On Tuesday, the Vijayawada-based airline announced halting of its services for two days due to cash crunch and financial issues with aircraft lessor.
The troubled carrier has also not paid salaries to majority of its employees for the month of January.
“We have announced suspension of operations till Sunday (March 5),” Air Costa Vice President (Marketing) Kavi Churasia told PTI.
Negotiations are on with a potential investor for raising funds and it would take some time to complete the financial transaction. Taking these factors into account, the suspension of operations has been extended, he said.
Prior to suspending its flight services, Air Costa had been operating 16 flights per day to eight destinations. The airline has a fleet of two leased aircraft, Embraer E190, which can carry over 100 passengers.
Currently, it has a workforce of around 600 people.
Air Costa is the second regional airline after Air Pegasus to abruptly stop services in less than eight months.

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PostPosted: Sat Mar 04, 2017 6:41 am    Post subject: Reply with quote

http://www.livemint.com/Companies/l81zfSVc16hp7nN14TuUBK/Air-Costa-flights-stay-grounded-despite-airline-plan-to-rest.html

Air Costa flights stay grounded despite airline plan to restart ops from 2 March

Mar 04 2017

Air Costa, which suspended its flights earlier in the week amid a cash crisis, continues to remain grounded after saying it expected to restart operations on Thursday.

“All flights are being cancelled, We are accommodating passengers on other flights. Internal sources say that there financial issues with lessors; both of their aircraft are parked at Hyderabad Airport,” a Hyderabad-based travel agent said, requesting anonymity.

Two Brazil-made Embraer jets of the airline have been impounded by GE Capital Aviation Services (GECAS) due to payment defaults. The airline has ordered 50 planes to be delivered starting next year.

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PostPosted: Mon Mar 06, 2017 7:09 am    Post subject: Reply with quote

http://timesofindia.indiatimes.com/business/india-business/air-costa-stops-bookings-wont-fly-before-thursday/articleshow/57483323.cms

Air Costa stops bookings, won’t fly before Thursday

Mar 5, 2017

With an agreement yet to be reached between the promoters of Air Costa and its investors, the impasse at the Vijayawada-based low-cost carrier continued through the weekend as a result of which the airline has stopped taking bookings and extended its 'temporary suspension' of operations till Thursday. Air Costa, which is owned by the LEPL group, had suspended operations last week due to financial issues with its aircraft lessor GE Capital Aviation Services (GECAS). Due to non-payment of dues, GECAS impounded Air Costa's two Embraer aircraft, which are now parked at Hyderabad airport.

"Air Costa bookings have also been stopped for now...we took this decision as we do not want passengers to suffer and it will be unethical on our part to take bookings when we do not have clarity.

The flights have been suspended till Thursday. As I had earlier said, due to the weekend...certain formalities are underway and the negotiations are on. On Monday (March 6), the clear picture will emerge and we will announce the day of resuming operations," Kavi Chaurasia, vice-president (marketing and brand communication), Air Costa, told TOI. He also confirmed that January and February salaries have not been paid to employees. "The base slab salaries for January have been paid," he added. It is learnt that promoters are trying to clear the due salaries this week. Last week, the airline's two E190 (112 seats) jets, that it was using to operate 16 daily flights to eight destinations -Ahmedabad, Bengaluru, Visakhapatnam, Vijayawada, Jaipur, Chennai, Hyderabad and Tirupati, were grounded

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PostPosted: Sat Mar 18, 2017 7:27 am    Post subject: Reply with quote

http://timesofindia.indiatimes.com/city/hyderabad/turbulence-at-air-costa-desperate-pilots-bail-out/articleshow/57699308.cms

Turbulence at Air Costa: Desperate pilots bail out

Mar 18, 2017

The financial turbulence that has rocked Vijayawada-based low cost carrier Air Costa has not only grounded the airline, but also seems to have left it in no position to fly anytime soon.

The airline, which has been desperately trying to get an investor on board, is now staring at an even bigger storm as all its pilots and co-pilots have made a quick exit, only to land in other airlines. Another 100-odd Air Costa employees have taken the exit route and many more are on their way out.

"Air Costa had 14 pilots and 30 first officers (co-pilots), all of whom have resigned. Nobody has served their full notice period...the moment the airline grounded its aircraft on February 28, people started leaving. By March 7-8... almost all (pilots) left and today Air Costa does not have a single pilot on its payroll," said an Air Costa source requesting anonymity.

When contacted, Air Costa vice-president (marketing and brand communication) Kavi Chaurasia admitted that all the airline's pilots have quit. "All the captains have left because there is no flying happening... but once they see that there is a possibility of resuming operations, I am hopeful that key pilots... at least 50% of them will come back," he said.

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PostPosted: Sat Mar 18, 2017 8:31 pm    Post subject: Reply with quote

http://www.thehindubusinessline.com/economy/logistics/air-costa-pins-hopes-on-funds-infusion-for-revival-flights-grounded-staff-salaries-unpaid/article9590923.ece

Air Costa pins hopes on funds infusion for revival

March 18

Air Costa is passing through turbulent times and is pinning its hopes on some investments coming through for its revival.

When contacted, Kavi Chaurasia, Vice-President, Marketing, of the airliner told BusinessLine, “We are pinning hopes on bringing in strategic investors and infusing funds to revive the airline. The flights were suspended due to a financial crunch.”


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PostPosted: Thu Mar 23, 2017 3:52 pm    Post subject: Reply with quote

http://www.thehansindia.com/posts/index/Business/2017-03-23/Aviation-Regulator-DGCA-Deregisters-Two-Aircraft-Of-Air-Costa-Report/288622

Aviation Regulator DGCA Deregisters Two Aircraft Of Air Costa: Report

Mar 23,2017

The Directorate General of Civil Aviation (DGCA) has deregistered two aircraft left with the grounded airline Air Costa.

According to sources, aviation regulator DGCA wrote to the airline that its two Embraer aircraft have been removed from the Civil Aircraft Register.

The Vijayawada-based airline has not flown since February. It had cancelled bookings till May because of a cash crunch and financial issues with the aircraft lessors.

The latest action by DGCA will effectively allow lessors to take back the aircraft from Air Costa, the sources said.

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PostPosted: Tue Apr 11, 2017 7:17 am    Post subject: Reply with quote

http://www.newindianexpress.com/business/2017/apr/11/air-costa-pins-hopes-on-new-fund-for-revival-1592240.html

Air Costa pins hopes on new fund for revival

11th April 2017

The financial woes at Air Costa got even deeper on Monday with the carrier cancelling bookings for an indefinite period. The Vijayawada-based airline initially halted bookings till May after grounding flights on February, 28. After three years of operations as a regional carrier, it received a pan-India air operator’s permit on October 3, 2016, which will lapse this October.

As the carrier races against time to get investors on board who can write a Rs 200 crore cheque, industry sources doubt if the airline can ever get back to its feet, but join others like Religare and Paramount, which gradually shut shop.

“Once the flights are grounded, dues keep getting mounted and with no operational income, servicing payments becomes a major concern,” said an airline official. On its part, the company is hopeful that a revival is in order in the next 2-3 months.

“We have been talking to potential investors and have arrived at the final stage of discussions for funds infusion. We will have an update in the next one month,” Kavi Chaurasai, VP, Marketing & Brand Communication, Air Costa told Express. He, however, added that the revival of operations will take time as the airline hadn’t been flying since the past 40 days. Prior to suspending its flight services, the carrier was operating 16 flights per day through a fleet of two-leased aircraft — Embraer E190 — that can carry 112 passengers.

The fiscal troubles first emerged in August 2016, when aircraft lessor GE Capital Aviation Services impounded one of the three-leased Embraer planes for failing to pay lease rentals. Air Costa had to suspend flights, but it managed to restore operations the next day with the parent company LEPL coming to its rescue. This bridge loan however didn’t solve the problems as the carrier continued to bleed leading to frequent cancellations.

“We’ve cancelled several flights and have even given refunds to passengers. We’ve been facing a financial crunch for the past 6-8 months,” said an Air Costa official. Owing to non-payment of salaries, the carrier’s workforce has been reduced to half from about 600 employees in the past.

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