MUMBAI: Indian businessman Parvez Damania, who had started the short-lived but high-end-for-its-time carrier Damania Airways in the nineties, visited the grounded Air Pegasus sparking interest if the flamboyant businessman was looking to invest in the sector again. Damania last month visited grounded southern regional carrier Air Pegasus which has been struggling for funds, delaying payments and trying to raise cash to set the airline flying again. It cancelled flights indefinitely on July 27. Two of its three leased ATR aircraft have were reposessed by Dublin-based lessor Elix Aviation for nonpayment of rentals. The talks didn’t progress and both sides had different versions regarding the reasons. “I visited them the very next day after they grounded flights,” Damania told ET on Wednesday. He claimed that Air Pegasus did not have a business proposal that he found feasible to invest in. “They had no papers or firm documents or plans to show. It was just a discussion across the dining table. I told them running an airline is not so easy,” he said. “I really do hope the airline resumes its operations. An airline shutting down reflects badly on the aviation industry,” he added. When contacted, the airline’s managing director Shyson Thomas… Read full this story
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