MartiHaight78 at 06:36, 16 April 2026

2026-04-16T06:36:05Z

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{{Short description|Defunct regional airline of India (2014–2016)}}
{{Distinguish|Pegasus Airlines}}
{{update|date=November 2018}}
{{use dmy dates|date=October 2021}}
{{Infobox airline
| airline = Air Pegasus
| logo = Air_Pegasus_Logo.png
| logo_size = 200
| fleet_size = 3 (July 2016)
| destinations = 8 (May 2016)
| company_slogan =
| IATA = OP<ref name="chavprofile">{{cite web | url=http://www.ch-aviation.com/portal/airline/PUS | title=Air Pegasus | work=ch-aviation | access-date=13 February 2017}}</ref>
| ICAO = PPL<ref name="chavprofile" />
| callsign = PEGASUS<ref>{{cite web | url=https://www.faa.gov/documentLibrary/media/Order/7340.2G_Bsc_dtd_1-5-17.pdf | title=JO 7340.2G Contractions | work=[[Federal Aviation Administration]] | date=5 January 2017 | access-date=13 February 2017 | page=3-1-13}}</ref>
| parent = Decor Aviation
| founded = {{start date|2014|||df=yes}}
| commenced = {{start date|2015|04|12|df=yes}}
| ceased = {{end date|2016|07|27|df=yes}}
| headquarters = [[Bangalore]], Karnataka, India
| key_people = Shyson Thomas ([[Managing director|MD]])
| hubs = [[Kempegowda International Airport]]
| secondary_hubs =
| focus_cities =
| frequent_flyer =
| lounge =
| alliance =
| website = {{URL|www.airpegasus.in}}
}}

'''Air Pegasus''' was a short-lived 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|ATR 72-500]] aircraft. Their flying licence was suspended by DGCA on 22 November 2016. [[Managing director]] Shyson Thomas stated in late 2017 that Air Pegasus would return to the skies in early 2018, as the company had formed a relationship with Dawn Aviation and was about to settle all of its debts. Several cases have been filed against Air Pegasus chairmen Shyson Thomas, Shyna Thomas and son Ashwin Thomas who was managing director. Till date no debts have been cleared and Air Pegasus was stricken from the Indian business register as of 18th of April, 2023.<ref name=":0">{{Cite web |title=AIR PEGASUS PRIVATE LIMITED |url=https://www.indiafilings.com/search/air-pegasus-private-limited-cin-U62100KA2007PTC044061 |access-date=2025-03-17 |website=IndiaFilings |language=en}}</ref>

==History==
Air Pegasus took delivery of its first [[ATR 72]] aircraft in September 2014.<ref name="CH1">{{cite news|url=http://www.ch-aviation.com/portal/news/31528-indias-air-pegasus-takes-delivery-of-first-aircraft-an-atr72 |title=India's Air Pegasus takes delivery of first aircraft, an ATR72|work=ch-aviation|date=29 September 2014|access-date=30 September 2014}}</ref> 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]].<ref name="mint">{{cite news|url=http://www.livemint.com/Companies/NTVzb4CfvqoIgHrHg4REBO/Air-Pegasus-starts-commercial-operations.html|title=Air Pegasus starts commercial operations|newspaper=[[Live Mint]]|date= 12 April 2015|access-date=14 April 2015}}</ref><ref>{{cite web|url=http://www.decoraviation.in/aboutus|title=About us|work=Decor Aviation|access-date=24 August 2014|archive-url=https://web.archive.org/web/20151112143604/http://www.decoraviation.in/aboutus|archive-date=12 November 2015|url-status=dead}}</ref><ref name="toi21jan2014">{{cite news|url=http://timesofindia.indiatimes.com/business/india-business/Air-Pegasus-3rd-airline-to-take-off-from-Bangalore/articleshow/29125947.cms|title=Air Pegasus 3rd airline to take off from Bangalore|newspaper=[[The Times of India]]|date=21 January 2014|access-date=24 August 2014}}</ref>

The airline suspended operations on 27 July 2016, claiming the suspension was temporary and due to technical issues.<ref name="hbl27jul2016">{{cite news | url=http://www.thehindubusinessline.com/economy/logistics/air-pegasus-suspends-services-denies-shutting-down-operations/article8907636.ece | title=Air Pegasus suspends services, denies shutting down operations | work=[[The Hindu Business Line]] | date=27 July 2016 | access-date=3 August 2016 | author=Giriprakash, K}}</ref><ref>{{cite news | url=http://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/regional-airline-air-pegasus-cancels-flights-indefinitely-cites-technical-glitch/articleshow/53412926.cms | title=Regional airline Air Pegasus cancels flights indefinitely, cites technical glitch | work=[[The Economic Times]] | date=27 July 2016 | access-date=3 August 2016 | author=Chowdhury, Anirban | author2=Mishra, Mihir}}</ref> However, the problems were later revealed to be financial in nature. Aircraft lessors approached the [[Directorate General of Civil Aviation (India)|Indian Directorate General of Civil Aviation]] (DGCA) to deregister their three aircraft leased to Air Pegasus after the airline defaulted on rental payment.<ref>{{cite news|url=http://www.business-standard.com/article/pti-stories/lessors-approach-dgca-to-get-3-air-pegasus-planes-deregistered-116072900652_1.html|title=Lessors approach DGCA to get 3 Air Pegasus planes deregistered|newspaper=[[Business Standard]]|date=29 July 2016|access-date=29 July 2016}}</ref> 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.<ref>{{cite news | url=http://www.thehindubusinessline.com/economy/logistics/air-pegasus-in-talks-with-pe-fund-to-restart-operations/article9026873.ece | title=Air Pegasus in talks with PE fund to restart operations | work=[[The Hindu Business Line]] | date=24 August 2016 | access-date=26 August 2016}}</ref>

Air Pegasus' deal with the lessors collapsed,<ref name="chav24oct2016" /> and the DGCA deregistered the airline's entire fleet in October 2016.<ref name="hbl13oct2016">{{cite news | url=http://www.thehindubusinessline.com/economy/logistics/dgca-grounds-entire-air-pegasus-fleet-for-nonpayment-of-lease-money/article9216027.ece | title=DGCA grounds entire Air Pegasus fleet for non-payment of lease money | work=[[The Hindu Business Line]] | date=13 October 2016 | access-date=29 October 2016 | author1=Phadnis, Ashwini | author2=Giriprakash, K.}}</ref> 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.<ref name="chav24oct2016">{{cite news | url=http://www.ch-aviation.com/portal/news/50281-indias-air-pegasus-aims-to-resume-ops-by-mid-4q16 | title=India's Air Pegasus aims to resume ops by mid-4Q16 | work=ch-aviation | date=24 October 2016 | access-date=29 October 2016}}</ref>

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.<ref name="deccanherald1">{{cite news |url=http://www.deccanherald.com/content/582479/flying-licence-air-pegasus-suspended.html |title=Flying licence of Air Pegasus suspended |newspaper=Deccan Herald |access-date=2016-11-22}}</ref>

In early 2017, Air Pegasus attempted to work with another airline that had not yet begun operations, [[FlyEasy]]; the latter company would buy a 74% stake in Air Pegasus. However, Air Pegasus did not receive the appropriate funds, and the deal collapsed.<ref name="ResumeDec17" /> Towards the end of the year, Thomas announced that Air Pegasus had entered into cooperation with Dawn Aviation, which would take a 60% stake in the airline. He also stated that the company's previous debts were close to being settled. Thomas expected to resume flights in the first quarter of 2018 using leased ATR 72-500s,<ref name="ResumeDec17" /> however both Dawn Aviation and Air Pegasus have dissolved as of 2022 and 2023 respectively. <ref>{{Cite web |title=DAWN AVIATION PRIVATE LIMITED |url=https://www.indiafilings.com/search/dawn-aviation-private-limited-cin-U62200KA2017PTC102342 |access-date=2025-03-17 |website=IndiaFilings |language=en}}</ref><ref name=":0" />

==Destinations==
[[File:Air_Pegasus_VT-APB_at_Bangalore,_Dec_2015.jpg|thumb|An Air Pegasus ATR 72 at Kempegowda Airport in December 2015]]

In May 2016, Air Pegasus was flying to the following destinations in India:<ref>{{cite news | url=http://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/low-cost-airline-air-pegasus-to-scale-up-operation/articleshow/52327810.cms | title=Low cost airline Air Pegasus to scale up operation | work=[[The Economic Times]] | date=18 May 2016 | access-date=14 January 2017}}</ref>

{|class="wikitable sortable"
|-
! State
! City
! Airport
! Notes
|-
|Karnataka||Bangalore||[[Kempegowda International Airport]]||{{airline hub}}<ref name="toi21jan2014" />
|-
|Karnataka||Hubli||[[Hubli Airport]]||align=center|{{mdash}}
|-
|Karnataka||Mangalore||[[Mangalore International Airport]]||align=center|{{mdash}}
|-
|Kerala||Kochi||[[Cochin International Airport]]||align=center|{{mdash}}
|-
|Kerala||Thiruvananthapuram||[[Trivandrum International Airport]]||align=center|{{mdash}}
|-
|Tamil Nadu||Chennai||[[Chennai International Airport]]||align=center|{{mdash}}
|-
|Tamil Nadu||Madurai||[[Madurai Airport]]||align=center|{{mdash}}
|-
|}

==Fleet==
Ch-aviation reported in December 2017 that Air Pegasus had come into an agreement with a leasing company for the lease of a single [[ATR 72-500]]. The airline planned to obtain an additional two ATRs later in 2018 from [[Vietnam Airlines]].<ref name="ResumeDec17">{{cite news|url=https://www.ch-aviation.com/portal/news/62008-indias-air-pegasus-secures-funding-to-resume-ops-in-1q18|title=India's Air Pegasus secures funding; to resume ops in 1Q18|website=ch-aviation|date=1 December 2017|access-date=3 December 2017}}</ref>

==See also==
*[[List of airlines of India]]

== References ==
{{reflist|30em}}

== External links ==
{{commons-inline}}
* {{official website|http://www.airpegasus.in/}}

{{Portalbar|Aviation|Companies|India}}
{{airlines of India}}
[[Category:Defunct airlines of India]]
[[Category:Airlines established in 2014]]
[[Category:Airlines disestablished in 2016]]
[[Category:Defunct low-cost airlines]]
[[Category:Indian companies established in 2014]]
[[Category:Indian companies disestablished in 2016]]
[[Category:Companies based in Bengaluru]]
[[Category:2014 establishments in Karnataka]]

Air Pegasus - Revision history

MartiHaight78 at 06:36, 16 April 2026