Regional airline Fly91 expects to achieve break-even by the second half of FY26, the carrier’s MD and CEO, Manoj Chacko, said on Thursday. He said that the airline is fully funded and has raised $25 million as of now.
Chacko, a travel and aviation veteran, has partnered with former Fairfax India head Harsha Raghavan to launch the airline.
The airline started full-fledged commercial operations in March, connecting Goa, Agatti, Sindudurg, Jalgaon, Hyderabad, and Bangalore.
On its expansion plans, he said that the airline plans to take delivery of ATR-72 aircraft by July-August and another two by December.
At present, it has leased out two ATR-72 aircraft. The turboprop ATR-72 aircraft has a capacity to seat up to 78 passengers.
The airline plans to only have an ATR fleet due to the aircraft’s fuel efficiency, operational flexibility, and impeccable safety record.
“We plan to complete the first phase of our expansion plan by having six ATRs by December and operations to eight destinations,” Chacko said. “The second phase will commence in FY26. We are scouting for our second base to station the next six ATR aircraft,” he added.
It is looking to expand its hub model to other airports, such as Navi Mumbai and Noida International.
