Gurugram-based air charter services operator Sirius India Airlines has announced plans to raise $100 million through a combination of debt and strategic investments to expand its fleet and operations. The aviation company, which launched its air charter services in August 2023 in partnership with Dubai-based Transworld Group, aims to tap into the growing demand for private air travel across corporate and lifestyle segments.
Growth Targets
Sirius India Airlines is targeting a fleet size of 50 private jets by the financial year 2027. The expansion plan includes acquiring small and medium-sized jets and aircraft suitable for group charters, enabling the company to cater to a diverse clientele.
The airline also plans to expand its geographical footprint beyond India, entering new markets in the Far East, Southeast Asia, and East Africa as part of its long-term strategy.
“We are aiming to secure USD 100 million capital by this fiscal and have already started the process to do so. These funds will help us acquire fleet and explore new overseas markets while strengthening our domestic operations,” said Arun Kashyap, founder and promoter of Sirius India Airlines.
Timeline for Fundraising and Implementation
The company is working toward securing the proposed funds by March 2024, with plans to begin implementing the expansion strategy by the 2025-26 financial year. Discussions with lenders and potential investors are already underway to achieve this target.
Ten new aircraft are expected to join the fleet in the next fiscal year, marking the beginning of Sirius’s aggressive fleet expansion.
Strong Market Demand for Charter Services
According to Kashyap, the demand for private charters is surging across various sectors, including corporate travel and high-end lifestyle needs. Sirius India Airlines is strengthening its presence in western and southern India to meet this growing demand in the domestic market.
The company’s strategic focus on premium and reliable air charter services has enabled it to carve out a niche, with plans to further solidify its leadership position in the sector.
Partnership with Airavat Aviation
In April, Sirius India Airlines announced a strategic partnership with Airavat Aviation, a luxury private air travel brand with an extensive presence in the Middle East, Europe, Africa, and Asia. This collaboration is expected to bolster Sirius’s capabilities in delivering premium services and expanding its network.
Currently, Sirius operates a fleet of three luxury jets, providing services in India and the Middle East.
Long-Term Vision
By 2028, Sirius India Airlines envisions becoming a leading player in the private aviation sector with a robust fleet and a presence in key global markets. The fundraising efforts and partnerships are designed to position the airline for sustained growth in a booming private aviation market.
With its customer-centric approach and ambitious plans, Sirius India Airlines is well-poised to capitalize on the rising demand for luxury charter travel in India and abroad.