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Air Pegasus takes off from Bengaluru

[email protected] (CD Network)
April 12, 2015

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Bengaluru, Apr 12: India's latest low-cost airline Air Pegasus on Sunday launched its maiden service to Hubballi in north Karnataka for providing air connectivity in the region.

Union Civil Aviation Minister Ashok Gajapathi Raju flagged off the ATR-72 turboprop service at the Bengaluru international airport in the presence of state Law and Parliamentary Affairs Minister T.B. Jayachandra and others.

Hubballi, about 400 km from here, is a major commercial centre in the region, with a cluster of small and medium industries. Its twin city Dharwad is a major educational centre in the state.

"We will operate a daily flight between Bengaluru and Hubbali in the morning. The timings will be convenient to take connecting flights to other metros and cities from here," Air Pegasus managing director Shyson Thomas told reporters.

The city-based Decor Aviation Ltd, which secured permit from the regulator (DGCA) to fly across the southern region, will launch a daily service to Thiruvananthapuram in Kerala on Monday using an ATR aircraft.

"The new routes with a regional focus will help local business and boost tourism. We see huge potential for both business and leisure travel," union minister Raju said on the occasion.

The company has invested Rs.100 crore to launch the air service, with 3:1 equity-debt ratio.

The airline plans to add three more 66-seater ATR aircraft to the two such aircraft it has on dry lease by December.

"Kadapa in Andhra Pradesh will be our third destination from Bengaluru as it has no air connectivity. We will also launch a daily service between Chennai and Tuticorin and Tuticorin-Coimbatore in Tamil Nadu when we get the additional three ATRs," Thomas said.

Using the hub-and-spoke model, the airline plans to operate daily service to other cities and towns in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana over the next two years.

The airline has permit to launch service to and from any of the 22 airports across southern India, connecting tier-two and tier-three cities with cities and metros like Bengaluru, Chennai and Hyderabad.

Air Pegasus is the ninth carrier in the country and third new airline to launch service after Air Asia and Vistara during the past 12 months.

airpegasus

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News Network
May 29,2020

New Delhi, May 29: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.2 crore on Karnataka Bank Limited for non-compliance of asset classification, divergence and provisioning norms.

"The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949. 

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the central bank said in a statement on Thursday.

According to the central bank, the statutory inspection of the bank with reference to its financial position as on March 31, 2017, and as on March 31, 2018, and the Risk Assessment Reports (RAR) pertaining thereto revealed, inter-alia, non-compliance with the directions issued by RBI.

Earlier, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the directions.

After considering the bank's reply to the notice, oral submissions made in the personal hearing and examination of additional submissions, RBI concluded that the charges of non-compliance with RBI directions warranted imposition of monetary penalty, according to a release.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

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News Network
March 7,2020

Bengaluru, Mar 7: Customs officials intercepted a Guatemalan national at Kempegowda International Airport here on March 2 and recovered cocaine.

The accused confessed that she had swallowed 150 cocaine capsules and concealed a tube-like structure in her vagina.

The passenger egested the total 1.385 kg of cocaine (150 cocaine capsules) over a period of two days, under medical supervision. She has been arrested.

Further, an investigation is underway.

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News Network
February 18,2020

Kasaragod, Feb 18: Police have seized counterfeit notes of Rs 45 lakh from a resident here on Tuesday.

The accused Muhammed, a native of Perla, has been taken into custody for carrying the prohibited currency and the police is investigating the crime.

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