 "Air Pegasus suspends ops for second day on the trot")
South-based regional airline Air Pegasus on Thursday cancelled all flights from Bengaluru Airport for the second day on the trot, amidst reports that lessors have taken repossession of two aircraft.
But airline managing director Shyson Thomas said funding issues have been resolved, with lessors and the airline resuming operations in two days. “ We will start flying in two days. Passengers, who had booked tickets and could not fly, will be compensated,” he told Business Standard.
A spokesperson of Bangalore International Airport Limited, which runs the Kempegowda International Airport, said the company did not operate for a second day.
A senior Air Pegasus official said while there is fund crunch, lessors have not evoked any action against it. "The issue with lessors will be sorted amicably,” he assured.
While a Directorate General of Civil Aviation (DGCA) official said the airline has cited technical reasons for suspending operations, two industry sources said the airline was facing severe financial crisis. The airline has been looking to raise funds for quite some time now. Thomas said the airline would raise Rs 200 crore through angel investments or external commercial borrowings. The airline started operations in April last year and was promoted by Décor Aviation.
In June, the DGCA had suspended the flight safety chief of the airline along with five pilots for serious safety breaches. The regulator, in its safety audit, had observed the pilots were violating safety norms.
Air Pegasus has three ATR-72 aircraft and flies to seven destinations - Hubli, Mangalore, Thiruvananthapuram, Kadapa, Chennai , Bengaluru and Madurai.
