Thursday, April 14, 2016

@airpegasusindia plans to raise Rs.100 crore to add more ATR aircrafts

South India focused low cost regional airline Air Pegasus plans to raise Rs.100 crore to add more ATR  aircrafts in its current fleet of 3 ATRs."We are in talks with angel investors as well as our existing investors to raise the funds," said Shyson Thomas, Managing Director, Air Pegasus.

The company is expected to add two more aircraft within a month and have ordered five more aircrafts to connect new destinations including Goa, Pondicheery, Kochi and Vijaywada. Air Pegasus has carried 2,80,000 passengers with a load factor of 82% in the first year of its opration. Air Pegasus currently operates from Kempegowda International Airport in Bangalore  to Hubli, Thiruvananthapuram, Madurai, Mangalore and Chennai. But has suspended its flights to Kadapa due to inadequate load factor.