Air Pegasus
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| Founded | 2014 | ||||||
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| Commenced operations | 12 April 2015 | ||||||
| Ceased operations | 27 July 2016 | ||||||
| Hubs | Kempegowda International Airport (Bangalore) | ||||||
| Fleet size | 3 (July 2016) | ||||||
| Destinations | 8 (May 2016) | ||||||
| Parent company | Decor Aviation | ||||||
| Headquarters | Bangalore, Karnataka, India | ||||||
| Key people | Shyson Thomas (MD) | ||||||
| Website | www |
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Air Pegasus was an Indian regional airline headquartered in Bangalore and based at Kempegowda International Airport. The airline was a subsidiary of Decor Aviation, an aircraft ground-handling services company. It commenced operations on 12 April 2015 with its inaugural flight between Bangalore and Hubli. The airline suspended operations on 27 July 2016, facing financial difficulties. At that time, Air Pegasus was serving eight airports across South India with a hub at Kempegowda International Airport in Bangalore, using a fleet of three ATR 72-500 aircraft. Their flying licence was suspended by DGCA on 22 November 2016.
Air Pegasus has signed an agreement to sell up to 74% stake to FlyEasy, which is yet to commence operations in India. With this sale, Air Pegasus hopes to resume operations from March 2017 with the focus on regional connectivity.
Air Pegasus took delivery of its first ATR 72 aircraft in September 2014. It received its Air Operators Permit (AOP) on 24 March 2015 and subsequently commenced operations from 12 April 2015 with its inaugural flight from Bangalore to Hubli.
The airline suspended operations on 27 July 2016, claiming the suspension was temporary and due to technical issues. However, the problems were later revealed to be financial in nature. Aircraft lessors approached the Indian Directorate General of Civil Aviation (DGCA) to deregister their three aircraft leased to Air Pegasus after the airline defaulted on rental payment. Air Pegasus agreed to pay back 50% of its dues to the lessors and said it would pay the remaining in instalments once flights resume.
Air Pegasus' deal with the lessors collapsed, and the DGCA deregistered the airline's entire fleet in October 2016. At the end of the month, however, Air Pegasus managing director Shyson Thomas stated that he was working to obtain an ATR 72 and to resume flights by 15 November.
On 5 October 2016, DGCA issued a show cause notice to Air Pegasus, asking why its AOP should not be suspended for its failure to carry out operations. The regulator had given 15 days for the regional carrier to respond to its notice. As the carrier failed to give assurance on resumption of its operation, DGCA suspended their flying licence on 22 November 2016.
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Wikipedia