With an initial fleet comprising two ATR 72-600 aircraft, the Goa-based airline intends to swell its ranks with four additional planes within the inaugural year of operations.
FLY91, a Goa-based airline, is gearing up to embark on its maiden commercial flights starting March 18 in a bid to revolutionise regional air travel. The regional airline will have around 350 staff at the end of the first year of operations.
FLY91’s Managing Director and CEO, Manoj Chacko said that the airline has ambitious plans for expansion and sustainability, FLY91 aims to bolster regional connectivity while ensuring profitability within a relatively short timeframe.
Read More: Sikkim: After six months, flight services to Pakyong airport to resume on March 31
FLY9 to secure four additional planes soon
With an initial fleet comprising two ATR 72-600 aircraft, the Goa-based airline intends to swell its ranks with four additional planes within the inaugural year of operations.
The carrier’s MD highlighted that there is no need to raise funds now, as it will also be getting Viability Gap Funding (VGF) under the regional air connectivity scheme UDAN.
“We also have VGF for the sectors we have won. If we take all the sectors we have secured and if we operate the full schedule, then on an annualised basis, it will be around Rs 200 crore,” he told PTI in a recent interview.
The airline’s roadmap to financial sustainability is marked by a targeted break-even period of 18 to 24 months.
Read More: Travel 2024: The Ultimate Guide to Stylish and Stress-Free Travel Essentials
FLY91’s expansion strategy
Initially, FLY91 will commence operations with weekly flights connecting Goa’s Manohar International Airport with Bengaluru and Hyderabad. Additionally, the airline will bridge the gap between Sindhudurg, Maharashtra, and Bengaluru, along with Hyderabad.
Expansion plans are already underway, with routes to Agatti, Pune, Jalgaon, and Nanded set to be introduced in subsequent phases. Notably, flights to Agatti in Lakshadweep are scheduled to commence from April, further enhancing connectivity options for travelers.
Read More: Kochi: Water metro to set sail to Chittoor, Eloor from March 17
“I have got 200 people (now) with 2 aircraft. 4 more aircraft are coming and another 100 people will be added. I have two stations open and another three stations, they will need 50 staff… So, it will be around 350-360 in the first year of operations,” Chacko noted.
“We studied 24 airlines, largely India and some examples outside India. At least, 15-16 airlines have gone down in India in the last 20 years… we genuinely studied them to understand why they failed. At the same time, we also studied successful airlines….Let us copy what the successful airlines did and let us ensure that we avoid things which failed airlines have been through,” Chacko added.
The regional carrier received its air operator permit from aviation watchdog DGCA on March 6.
