Goa-based Fly91 passenger carrier expects to double operations by early 2025 on the back of new aircraft induction, the regional airline’s Managing Director and CEO Manoj Chacko told the businessline.
At present, the airline operates a fleet of two ATR 72 aircraft.
“The third ATR is expected to be inducted by November-end, soon followed by the fourth in December,” revealed Chacko.
“The aircraft are currently undergoing safety checks in Europe, and one is being painted in our livery.”
Besides, the new aircraft will enable Fly91 to increase daily flights from 14-16 to 32 daily flights by early 2025.
Notably, the latest two aircraft will be fully owned by Fly91’s leasing subsidiary, established in Gift City, Gujarat.
“Establishing a leasing company in Gift City will give us full ownership of these aircraft and add significant value to the company,” he said.
The regional airline only operates the ATR 72 aircraft, which has a capacity to seat up to 78 passengers. The turboprop is known for its fuel efficiency and operational flexibility.
Since launching operations eight months ago, Fly91 has carried approximately 95,000 passengers and operated over 2,300 flights.
As of now, the airline operates daily flights on six city pairs and lesser frequency of a few more city pairs. The airline announced that it will commence operations on the highly anticipated Solapur-Mumbai and Solapur- Goa sectors in the second half of December.
Fly91 started full-fledged commercial operations in March 2024, connecting Goa, Agatti, Sindudurg, Jalgaon, Hyderabad, and Bangalore.
The airline is headquartered in Goa and has its first base at Manohar International Airport.
The regional carrier caters to destinations within a radius of 90 minutes of flying time from Goa.
It operates a set of Udan (regional connectivity scheme) and non-Udan routes.
The airline has been awarded 18 routes to four cities under the regional air connectivity Udan scheme.
According to Chacko, the airline’s second base will be made operational around the May timeframe.
Currently, the airline is scouting for a suitable location to operate regional flights either in western or southern India.
“We’re scouting opportunities in three locations in southern and western India to set up our second base,” he said.
Furthermore, Chacko, a travel and aviation veteran, said that the regional airline expects to achieve break-even in FY26.
The airline, he said, is fully funded and has raised $25 million as of now.
“We are sufficiently capitalised for this phase of our journey. We are in this sector for the long haul,” Chacko said, adding that “establishing a brand in the aviation industry is like playing a cricket test match, where one has to focus on building a rock solid foundation and play a long innings.”
Chacko has partnered with former Fairfax India head Harsha Raghavan and other prominent professional investors to launch the airline.