Fly Sirius Plans $100 Million Fundraise for Fleet Expansion
Fly Sirius (Delhi International) is set to raise USD 100 million through debt and other financial instruments to support its ambitious expansion plan, which aims to grow its fleet to 50 business jets by March 2028. Founder and promoter Arun Kashyap, the former COO of SpiceJet, confirmed the funding target in an interview with Indian media, stating that the funds should be secured by March 2025. The first ten aircraft are expected to join the fleet in 2025, with significant fleet growth beginning in the 2026 financial year.
Kashyap explained that the funds will be sourced from both debt and strategic investors, with ongoing discussions with lenders and investors. The business charter operator, which launched earlier this year, currently operates a single Hawker 4000 aircraft out of Delhi International. With plans for rapid growth, Fly Sirius is targeting small and midsize business jets, while also looking to incorporate larger aircraft capable of handling group charters as part of its expansion strategy.
Fly Sirius intends to expand its presence in both the domestic and international markets. The airline has set its sights on targeting international routes in the Middle East and Far East as part of its long-term strategy. Kashyap emphasized the operator’s goal of becoming a key player in the global business aviation sector, catering to the increasing demand for private air travel in both regional and international markets.
The business charter market has seen significant growth, especially in emerging economies like India, where Fly Sirius plans to capitalize on rising demand for business aviation. The company aims to offer a premium and flexible travel experience, with a focus on customer service, efficiency, and expanding its network across key international hubs.
With its focus on acquiring both small business jets and larger aircraft, Fly Sirius aims to diversify its offerings and serve a wide range of customer needs, from individual business travelers to corporate group charters. As the company prepares for a fleet expansion, Fly Sirius is positioning itself for growth in the highly competitive business aviation market, with the goal of becoming a leading player in India’s growing private aviation sector.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com