Air Carnival (2S, Coimbatore) has ceased operations as its owners attempt to sell off the low-cost carrier, reports The Hindu Business Online. Analysis of Flightradar24 ADS-B data shows that Air Carnival's sole aircraft – ATR72-500 VT-CMA (msn 0767) – has not operated since April 5. The aircraft is leased from Elix Aviation Capital, which is apparently now trying to regain possession of it.
Promoter Coimbatore Marine College (CMC) said earlier this month that it wanted to sell its 100% stake in Carnival for about INR730 million (USD11.2 million), claiming it was in advanced talks with a suitable investor. There has not yet been any confirmation if that sale has proceeded.
According to Hindu Business Online, Air Carnival's 130 staff have not been paid regularly since its inception less than a year ago, with INR22 million (USD340,000) in salaries outstanding.
Until recently, Air Carnival conducted routes from Chennai to Coimbatore, Tiruchirapally and Tuticorin.
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