Fly91 seeks global partners ahead of November launch

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₹200 crore in project outlay for Fly91. Its early investors include Rajeev Chitrabhanu, founder of advisory-led investment platform Magnetic. “Coming out of covid, I was the first person to believe in the potential of regional aviation, with the Udaan scheme and committed capital as an investor and advisor.

Helped them in strategy, capital raising and identify the right type of investors. The idea was to look after what was right from the founders’ point of view," Chitrabhanu said. Fly91 seeks to fill the “large white space" in regional aviation by offering services as a “simple" regional turboprop operator to travellers for distances which would normally take 8-12 hours by road or rail.

“We are here to coexist with everybody. So, anybody wants to put a passenger on the last mile You know, we are happy to carry them," Chacko said. For now, the company will set up its first base in “charter gateway to India" at the Mopa airport in Goa, followed by bases in the North, West, East, and South, with 6-7 aircraft parked at each base.

It is also evaluating setting up operations at the Hindon airport, the upcoming Noida International airport at Jewar, Navi Mumbai airport, and Nasik. For the near-term, Fly91 will not need any fund raise, as the airline has ₹200 crore to work on its plans. Currently, the airline is going through the regulatory process and hopes for it to be completed by October with an expected launch in November with two ATR-72 aircraft and gradually increase the fleet to 4 aircraft by March.