Mesco Airlines Ltd, belonging to the Mesco group, is finally readying to restart operations. It plans to revamp its charter service operations and pay off debt under the debt recovery tribunal.
Shipra Singh, director, Mesco Aviations Ltd, said, "We are working towards financial stability and cleared dues of almost 100 per cent of our secured creditors. The company has paid off it's over due term loans to IDBI, IFCI, UTI and LIC on a one-time settlement scheme. Moreover, 100 per cent lending of the unsecured creditors have also been cleared. We intend to ensure that Mesco Aviation Ltd marks a successful stride."
Mesco Airlines was incorporated in August 1991 and is the first private helicopter charter company in India. It has large sized helicopters and started operations with the induction of 2 UH-12E Hiller Helicopter for agro-spraying activities over plantation crops in 1993.
The company obtained a air taxi operator permit from the Director General of Civil Aviation and is engaged in the operation of non-scheduled aviation in the helicopter and Multi Engine Aero plane service segment of the aviation industry.
MAL operates on regular government contracts of charter service in Orissa, Himachal Pradesh and Chhattisgarh. It also provides planes on charter services to other locations. Prominent customers are ONGC, state governments, and public sector companies. The company has a fleet of helicopters comprising Ecureil, MI-172, Hiller. It also has, in its stable; a fixed wing twin engined P-68 Observer.
Seeing a market for 20-26 passenger helicopters, especially for mountainous and off-shore regions, MAL identified the potential of MI-172 Russian helicopters. It has highly experienced aircrew and technicians and well established maintenance facilities in Mumbai, Delhi, Shimla, Jagdalpur and Bhubaneshwar. |
