Airline from Goa has a billion-$ plan for smaller skies

New Delhi: Regional airline Fly91 has recently placed a substantial order for 40 ATR-72 turboprop aircraft, marking one of the largest purchases for the type in recent times. The carrier aims to expand connectivity to smaller towns and cities across India, which are currently underserved by larger jets, according to sources familiar with the development. At list price, the order is valued at over $1 billion, though airlines typically receive significant discounts on such large orders.

Fly91 is also in the process of raising around ₹250 crore from existing and new investors to support its ambitious expansion plans. The order will more than double the airline's fleet and significantly expand its presence in tier-2 and tier-3 cities. Currently, Fly91 operates a small fleet of ATR-72 planes connecting airports under the Indian government's UDAN regional connectivity scheme, including Sindhudurg and Jalgaon.

The new ATR-72 aircraft are expected to start deliveries towards the end of 2027 and will be completed over a span of five years. Manoj Chacko, the founder and CEO of Fly91, expressed optimism about the Indian market, stating that there are numerous airports in the country where larger aircraft like the Airbus A320 and Boeing 737 cannot operate. The ATR-72 aircraft, he believes, perfectly suits these routes and aligns with Fly91's cost model.