Indian Aviation’s New Entrant Fly91 Finalizes Lease for Two ATR72-600s with DAE Capital

Fly91, an emerging player in the Indian aviation sector based in Goa Dabolim, has marked a significant milestone by finalizing a lease agreement with DAE Capital for two ATR72-600 aircraft. This development is a key step for the start-up, as these aircraft will be the first to join its fleet, with deliveries anticipated within the year.

Positioning itself to enhance connectivity across smaller Indian cities, Fly91 aims to commence operations later this year with a focus on using turboprop aircraft. The airline is a collaborative venture between seasoned Indian airline executive Manoj Chacko and the Mumbai-based private equity firm Convergent Finance. Chacko has previously articulated ambitious plans for the airline’s growth, targeting an expansion to six ATRs within the first six months.

Chacko emphasized the ATR72-600’s suitability for efficient and sustainable operations across numerous regional airports in India. He underlined Fly91’s commitment to bolstering the country’s development by focusing on last-mile air connectivity, particularly targeting unserved and under-served cities.

In addition to the aircraft lease, Fly91 is also in the process of securing its air operator’s certificate (AOC), a critical step before it can initiate flight services. Chacko informed ch-aviation that the airline is nearing the final stages of this application process and is hopeful of obtaining the AOC in the coming weeks. This move is set to further energize the Indian aviation landscape, highlighting Fly91’s strategic steps towards becoming a key player in regional air travel.