40 pilots resign from Air Costa

Embattled Air Costa has seen an exodus of employees, including 40 pilots, in the last few weeks over non-payment of salaries. The airline, which has cancelled bookings till May, is scrambling for funds to restart operations, but is yet to make much headway in roping in investors.

Air Costa’s 450-odd employees are literally at the crossroads amid a worsening financial situation, and industry executives apprehend there could be a replay of erstwhile Kingfisher Airlines — whose shuttering in 2012 had rendered hundreds of people jobless.

Faced with cash crunch and financial issues with lessors, Vijaywada-based Air Costa has not flown since February 28. A source said employees have not been paid salaries for February while more than half of the staff have not received any payment since January.