Air charter operator Sirius India Airlines has unveiled plans to raise $100 million through a mix of debt and other financial instruments to accelerate its growth. The funding will enable the company to expand its fleet to 50 private jets by the 2027 financial year, strengthen its domestic market presence, and enter global markets, including the Far East, Southeast Asia, and East Africa.
The Gurugram-based aviation firm launched its operations in August this year in collaboration with Dubai’s Transworld Group. Sirius India Airlines has quickly positioned itself as a key player in India’s burgeoning private air travel market. Officials stated that the fundraising effort is expected to be completed by March 2024, setting the stage for significant expansion.
Aiming High: Fleet Expansion and Global Reach
Sirius currently operates three luxury jets, serving domestic routes and the Middle East. The planned fleet expansion will enable the company to meet surging demand in both corporate and lifestyle segments. By strengthening its operations in western and southern India, Sirius aims to cater to regions that are experiencing a boom in private charter travel.
“We see immense growth potential in India and beyond. This capital will allow us to scale operations, improve services, and establish a strong foothold in key global markets,” said a Sirius India Airlines spokesperson.
Strategic Partnerships and Market Penetration
Earlier this year, Sirius India Airlines partnered with Airavat Aviation, a global luxury air travel brand with a strong presence in the Middle East, Europe, Africa, and Asia. The collaboration has allowed Sirius to bring premium private air travel experiences to Indian customers.
“By leveraging Airavat’s established expertise, we’re poised to redefine luxury air travel in India while exploring opportunities in international markets,” added the spokesperson.
Responding to Market Trends
The private aviation industry in India is witnessing unprecedented growth, driven by increasing corporate travel, high-net-worth individuals, and demand for personalized travel experiences. Sirius is capitalizing on this trend by enhancing its services and expanding its geographic reach.
The company is also setting its sights on emerging markets in Southeast Asia and East Africa, regions that are seeing rising demand for private aviation solutions.
Looking Ahead
With its ambitious expansion plans, Sirius India Airlines is poised to transform the air charter industry in India. The $100 million fundraising effort marks a pivotal step in achieving its vision of becoming a leading player in both domestic and international markets.
By 2027, the company aims not only to have a fleet of 50 jets but also to establish a robust presence across key global markets, making luxury private air travel more accessible and redefining the standards of the industry.