From court cases to cash crunches: The risky flight plans of India’s startup airlines

three photographs showing five individuals associated with the three airlines.NOC is short for no-objection certificate, the first step and a preliminary clearance before an airline obtains an air operator certificate (AOC) from the Directorate General of Civil Aviation (DGCA), the regulator.In reality, Shankh Air had received the nod in September 2024, followed by AlHind Air sometime before March last year, according to a response by the minister of state for civil aviation, Murlidhar Mohol, in the Lok Sabha. Only FlyExpress received an NOC in December.The minister’s update came amid growing concerns of a market duopoly—IndiGo and Air India have a combined share of 90% in the Indian skies.

In the first week of December, IndiGo, which prides itself on on-time performance, cancelled more than 4,500 flights, bringing the country’s booming aviation sector to a halt.So, what do we know about the three new aviation companies? Do they have the financial muscle to challenge the duopoly, going ahead? And who are the people running them?Mint’s review shows that while one airline in the minister’s post is backed by a large travel group, a second one is led by a promoter whose fortunes shot up in quick time. The third entity is not a company—just a brand.Under aviation rules, promoters and key executives are required to obtain security and background clearances from multiple agencies.

But Mint’s investigations have revealed antecedents that are not very encouraging.Take FlyExpress, for instance.In the post mentioned earlier, two executives from the company were pictured with minister Naidu. One of them is Rajesh Ebrahimkutty, the founder of FlyExpress’ parent company.