Ligare Aviation, airline business of Malvinder and Shivinder Singh, books 'unimaginable losses'
The airline was started in 2006 as Ran Air Services and offered turboprops, helicopter, jets as part of its non-scheduled operations. The airline later got into air ambulance service and even toyed with the idea of starting fraction ownership model. The company not only offered services to corporates, to politicians during elections, etc, but also set up an entire eco-system for the aviation industry, including crew training centres, air craft maintenance units, which incurred huge investments.
Ligare Aviation, the charter airline business of former Ranbaxy promoters Malvinder and Shivinder Singh, is close to winding down its business after it ran into "unimaginable losses". Image source: DNA