Islamabad: Though M/s Air Falcon is trying to start operations since 2014, the government of PTI may allow it now to kick of its domestic and international flights as security agencies have given clearance.
The airline was issued charter license class-II domestic and international conditionally with effect from December 9, 2019 to December 8, 2015 and December 9, 2015 to December 8, 2016 respectively subject to clearance from security agencies.
Due to awaited security clearance and management change, M/S Air Falcon could not obtain air operator certificate. During this period, M/S Air Falcon was meeting all regulatory and Civil Aviation requirements like paid up capital and security deposit.
The security clearance was received in 2017.The case for renewal was processed but at that time there was deficiency of paid up capital which was short of Rs 14.60 million from the desired Rs 100 million as required under the then rules. CAA was directed to advise the applicant company to complete the regulatory requirements.
Officials told Newztodays.com that against the cash deposit regulatory requirement of Rs 10 million under National Aviation Policy 2019, M/S Air Falcon had provided bank guarantee of Rs 5 million valid up till August 22, 2019 and cash deposit of Rs 0.4 million.
The company had requested the government to renew charter license class-II domestic and international up to December 9, 2019 with an undertaking that remaining cash deposit of Rs 4.6 million will be deposited upon renewal of its license and cash of Rs 5 million will be deposited before expiry of bank guarantee on August 22, 2019.
Civil Aviation Authority had recommended the government to regularize the renewal of M/S Air Falcon charter license from 2016 to 2019 as government is empowered to grant various types of licenses of airlines to carry out flight operations. The government has directed to consult with Law Division for reconsideration of the case of renewal of license.