India’s Air Costa is reported to be in “advanced stages” of discussions with foreign carriers over a possible equity investment.
The airline’s CEO, Vivek Choudhary, told the PTI this week that he expects to secure investment soon.
“We are in talks… which are at advanced stages with carriers from the Gulf and an airline from Southeast Asia,” he was quoted saying in a telephone interview.
India’s aviation sector is an attractive investment at present, with consistent double-digit growth in the terms of passenger demand.
And Air Costa’s appeal as a partner has just improved significantly, after the former regional carrier secured a “pan-India licence” from the Directorate General of Civil Aviation (DGCA). This will allow it to operate flights across India, including to key cities like Delhi and Mumbai.
Choudhary told the PTI that Air Costa will kick off its pan-Indian expansion in the first quarter of the 2017-18 financial year, linking Vijayawada, Tirupati and Visakhapatnam with Delhi.
“We will also be providing air connectivity to such cities from Mumbai, going forward,” he added.
At present, Air Costa operates flights across southern India from its bases in Vijayawada and Chennai.