MESCO Airlines set to resume operations

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New Delhi, Oct 3 (UNI) MESCO Airlines is all set to make a comeback by revamping its charter service operations and shedding off its debts under the debt recovery tribunal.

''We are working towards financial stability and have cleared the dues of almost 100 per cent of our secured creditors.'' MESCO Aviations Ltd (MAL) Director Shipra Singh said in a statement today.

''The Company has paid off its over due term loans with IDBI, IFCI, UTI and LIC on a one time settlement scheme. One hundred per cent lending of the unsecured creditors have also been cleared.

Embarking on a growth curve, we intend to ensure that MESCO Aviation Ltd marks a successful stride,'' she said.

MAL was incorporated in August 1991 as the first private helicopter charter company in India.

It operates on regular government contract of charter service for Orissa, Himachal Pradesh and Chhattisgarh.

It also provides planes on charter services to other locations.

UNI YJ MP GC1613

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