Beleaguered Indian regional carrier Air Costa has grounded all flights until at least next week it says.
The cash-strapped airline suspended all flight operations until March 15, marketing vice-president Kavi Chaurasia said.
"We have suspended our services since February 28 and stopped bookings till March 15 for operational reasons. We will announce our revival plans on March 15. We have grounded our two Embraer aircraft. We are talking to investors for infusion of investments as we are facing fund crunch," he said.
The airline’s financial woes took a turn for the worst when GE Capital Aviation Services impounded two of its four planes for defaulting on payments.
Established three years ago, Air Costa operates daily service to eight Indian cities including Bengaluru, Chennai, Hyderabad, Ahmedabad and Jaipur and employs about 600 staff.
