New Delhi: Bengaluru-based regional start-up airline Air Pegasus, which had shut down operations because of a cash crunch last year, said it hopes to fly again from 1 March.
Air Pegasus has entered into a strategic partnership with ABC Aviation and Training Services Pvt. Ltd;-led Flyeasy India to revive its operations from 1 March, the airline said in a statement on Tuesday.
"Air Pegasus will continue as a regional airline operating in tier-II and tier-III cities", said Shyson Thomas, managing director of Air Pegasus.
The firm did not disclose investments or any other details but said Flyeasy's Zulfikar Ahmed khan will be the new group chairman while Thomas will continue in the board as vice-chairman.
The civil aviation regulator, Directorate General of Civil Aviation (DGCA), had suspended the flying licence of Air Pegasus in November after the Bengaluru-based carrier failed to give assurance on resumption of its operations then.
The order for suspension of the air operator permit (AOP) or flying licence of Air Pegasus was issued on 8 November 2016, according to the DGCA.
Air Pegasus has not been operating its services since 27 July 2016, following huge losses and its failure to pay lease rentals to the aircraft lessors.
Earlier on 5 October, the DGCA had issued a showcause notice to Air Pegasus, asking why its AOP should not be suspended for its failure to carry out operations.
According to Section 15(2)(b) of Schedule XI of the Aircraft Rules 1937, the DGCA may cancel or suspend permit of an airline for such period as it deems fit, if it is satisfied that the holder of the permit has failed to establish a safe, efficient and reliable service.
The regulator had given a 15-day timeframe to the regional carrier to respond to its notice.
Before suspending operations for an indefinite period, the carrier flew from Bengaluru to at least seven destinations in southern India.