Air Pegasus, floated by one of the largest domestic airport ground handling companies, will take to the skies in March, linking the southern cities with ATR turboprop aircraft. 

The low-cost carrier — keeping Bangalore as the hub — will fly 25 sectors daily with three 72-seater ATR aircraft initially, before ramping up the fleet to six aircraft by the year-end. 

"We hope to offer fares Rs 750-1,000 cheaper than rivals in sectors that we fly," Air Pegasuschairman & MD Shyson Thomas told TOI. His Decor Aviation Private, which handles airport services for domestic and international carriers across southern airports, will pump in $15 million and Canara Bank is extending a $5-million loan to the airline.

Pegasus, which is expected to launch commercial advertising in early February, is hitting the domestic skies that remain challenging for carriers. A recent report by Centre for Asia-Pacific Aviation said Indian airlines lost $24 on every passenger it carried last year, and four out of the five national carriers continue to report losses.

Among the new airlines waiting to fly are AirAsia's joint venture with the Tatas to operate a budget carrier, and Singapore Airlines also joining hands with the group to launch a full-service airline.

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