The to-be launched airlines will be a subsidiary of Pawan Hans Helicopters Ltd, and would most likely start its operations with a fleet of 6 fixed-wing planes and 5 helicopters.
The planned subsidiary will have an equity base of Rs 150 crore, with 51% of its shares owned by Pawan Hans Helicopters Ltd while the North Eastern Council (NEC) will own the rest 49%.
It was during a meeting of all state chief ministers from the Northeast and Department of North Eastern Region minister Jitendra Singh that the decision to start this airline was taken.
“A proposal has come to the aviation ministry and has also been sent to NEC for approval,” a government official told ET on the condition of anonymity.
Source: Business Insider India