Air Costa operations to remain suspended till March 5

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.