Thursday, October 10, 2013

LEPL Promoted Air Costa, First Regional Airplane Service to begin Operations from October 14

Air Costa (Lingamaneni Ramesh, Chairman & CEO) is the first region airplane service based at Vijayawada.  Air Costa will begin its operations from October 14.  In the first phase, services will run to Hyderabad, Chennai, Bangalore, Jaipur and Ahmadabad.  Later these will be expanded to other cities also.

Vijayawada: LEPL group based at Vijayawada is promoting Air Costa, the first regional airline service. LEPL chairman L Ramesh spoke to the media and said that in the coming five years, Air Costa will run 25 air services.   Air Costa will begin its services from October 14.  In the first phase, air services will be launched for Hyderabad, Chennai, Bangalore, Jaipur and Ahmadabad.  Later the services will be expanded to Mysore, Pune, Trivandrum, Madurai, Goa, and Visakhapatnam also
Air Coast services will begin with two EMBRAER E-170 jet planes.  In the coming two months, another two jet planed will be included.  Chairman also informed that by 2015, Air coast will offer services in 14 routes in 25 places.  Till now the company invested Rs. 250 crores in airlines business.  LIPL also is into real estate and renewable energy sectors.  Domestic air services sector is also fast developing and thus the company has decided to enter into this business.

In the coming two years, LIPL will invest nearly six hundred crore rupees in airlines business, Ramesh informed. Funds will be gathered through internal resources.  Vijayawada will be the head quarter of Air Costa and Chennai will be the maintenance centre.  Maintenance, repair and overhaul centre will be set up in the Gannavaram airport for Ember planes for the first time in Asia.  One and half acre land is already allotted from MRO and in the coming one and half year, it will be ready for use.  The ticket prices of Air Costa will begin from Rs, 3,000 to attract passengers of all categories.  It is estimated that domestic air traffic reaches seven crores with a growth rate of twenty percent by next year.  Presently there are 300 employees in Air Costa.  LEPL group already completed various realty projects in Vijayawada.  It is now doing a satellite township project in an area of 3.2 core square feet and the company is investing nearly one billion dollars.

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