Air Costa and Air Pegasus continue to look weak while Airbus shows cancellation rates

In India this week, both Air Costa and Air Pegasus have suspended flights because of cash-flow problems. Air Costa suspended flights for 24 hours yesterday while it negotiated with Embraer and lessors over the future of its fleet of three E190 aircraft with sources stating that lease payments are well overdue on the aircraft. The three Air Costa E190s have good utilisation rates with the three between them covering some 24-28 flights a day over nine destinations. Air Costa is trying to gain additional flight permits across India but as it does so competition is heating up on what are