Sirius India Airlines looks to raise USD 100 million for expansion
Air charter services operator Sirius India Airlines has said it looks to raise USD 100 million through debt and other instruments for fleet and services expansion as it sees demand soaring from across segments. The company said it is aiming to have a fleet of 50 private jets by financial year 2027 and spread its wings to other markets such as the Far East, Southeast Asia and East Africa as part of the long-term business plan.
The proposed funds are expected to be tied-up by March next year so that the plan starts getting implemented from FY26, Sirius India Airlines founder and promoter Arun Kashyap said.
The Gurugram-based aviation venture launched its air charter services in collaboration with Dubai-based Transworld Group in August this year.
«We are aiming to secure USD 100 million capital by this fiscal and have already started the process to do so. We are looking at these funds both by way of debt as well as from strategic investors and are in discussions with a bunch of lenders and investors,» said Kashyap, who has been formerly with airlines such as Air India and SpiceJet.
The company, Kashyap said, is expecting these funds to be in place by March next year, adding, «we plan to use the proceeds for acquiring fleet and going into new overseas markets apart from strengthening the domestic market».
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