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Air Pegasus gets lifeline as FlyEasy picks up majority stake for Rs 70 cr
Air Pegasus has received a lifeline with another Bengaluru-based airline, FlyEasy, picking up a majority stake for around Rs. 70 crore.
Sources close to the airline said FlyEasy has bought slightly over 60 per cent stake in Air Pegasus.
Air Pegasus, whose operator licence has been suspended, will now start operations in a month’s time, a senior airline official told BusinessLine. The official said it expects to take on lease a single ATR soon and plans to get back its licence in a fortnight.
As part of revamping its operations, Air Pegasus will induct 24 aircraft in the next four years, of which six will be inducted this year.
“Air Pegasus will continue as a regional airline, operating in tier-2 and tier-3 cities, while FlyEasy Airlines will operate as a pan-India operator with an all-Airbus fleet and will have a commercial launch on May 2017,” said Shyson Thomas, Managing Director, Air Pegasus.
?”We intend to build a strong network with Flyeasy operating into long, thin routes and Air Pegasus connecting to tier-2 and 3 cities, concentrating on the South initially?,” s?aid Rajesh Ebrahim, the Managing Director of Flyeasy.
“S?trategic partnerships and code-shares will be the future of Indian aviation and I feel that we have moved in the right direction,” he added.
?Sources said Zulfikar Ahmed Khan will be the group Chairman; Misbaudeen, the Managing Director of Air Pegasus; and Suhail Sheriff, the Managing Director of Flyeasy. Shyson Thomas will continue on the board as Vice-Chairman and Mr Rajesh Ebrahim will act as the Group CEO?. Kevon Looney Authentic Jersey
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