The New Indian airline, Fly 91 Airlines, is in the phase to launch its operations in October 2023. Furthermore, the airline will utilize the regional aircraft ATR. Subsequently, the airline is named after India’s code 91.
According to the source, the airline is founded by Ex Kingfisher executive Manoj Chacko. Subsequently, the company received its NOC from the Ministry of Civil Aviation (MoCA) on 25th April (Yesterday).
The airline will be headquartered in Panjim Goa and will operate flights to and from North Goa Airport. The airline will lease 6 to 8 regional ATR planes each year. Furthermore, the airline has raised 200 Crore INR (Approx. 25 Million US Dollars) from PE Firms.
What do we know so far about Fly 91 Airlines?
According to sources, an aviation veteran from Vijay Mallya’s former Kingfisher Airlines and the man who established the India business for Prem Watsa’s Fairfax Group are joining forces to launch a regional airline in India. The airline will be called Fly91, with “91” representing India’s country code.
The airline will be led by Manoj Chacko, who previously served as the executive vice president at Kingfisher and later as the chief operating officer and CEO of business travel at travel company SOTC. Chacko will assume the role of CEO for Fly91.
Fly91 is owned by Just UDO Aviation Private Limited, which Manoj Chacko and a team of co-founders established. The airline’s initial investment of Rs 200 crore will be anchored by Harsha Raghavan through his investment firm Convergent Finance, with Raghavan also serving as a co-founder of Fly91.
Fly91 is targeting a segment that the Indian government has been pushing, particularly through its UDAN (Ude Desh ka Aam Nagrik) regional connectivity scheme, aimed at enabling affordable air travel for the common citizen.
However, it is worth noting that the sector has experienced more failures than successes. With the exception of Star Aviation, most regional airlines in India have closed down operations.
Will it succeed or fail like other regional airlines? Let us know your thoughts in the comments on our social media pages
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