MUMBAI
On 13 February, Ramesh Lingamaneni , 42, executive director of little-known real estate company LEPL Group of Vijayawada and chairman of India’s newest regional airline Air Costa, shocked the market with an order for 100 planes worth $5.88 billion (around Rs.35,568 crore today).
The airline, which currently flies just two planes, signed a definitive agreement with Brazil’s Embraer SA for 50 E-Jet E2 planes with purchase rights for an additional 50 jets. The initial order is for 25 E190-E2s and 25 E195-E2s, which together are estimated to be priced at about $2.94 billion, based on 2014 list prices.
Full report here Mint
