After leasing two aircraft from IFSCA Gift City, Goa-based FLY91 has now approached the authorities to set up its own unit at Gift City. The airline has plans to induct over 30 aircraft in the next five years, and is likely to route them through its aircraft leasing unit at Gift City.
According to sources at IFSC, “The company made an application last week and proposed to make an investment of approximately ₹5 crore. It has said that the said investments will be made through FLY91’s own fund. It has plans to induct 30 aircraft in the next five years. It aims to lease at least a few, if not more, through this unit. The company will employ four people at Gift City, it said. Their application is under consideration.”
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FLY91 is a regional airline based in Goa, India. They aim to connect smaller cities across India by adding more flights to these destinations. The airline plans to have 30 airplanes and connect over 50 cities within the next five years. They chose ATR 72-600 aircraft for their fleet, which are well-suited for serving smaller airports.
In response to businessline’s query, Manoj Chacko, MD and CEO at FLY91, confirmed and said, “Gift City is an amazing initiative of the government of India for Indian aviation, with tremendous short and long term benefits.” He added, “As a well capitalised startup airline run by professionals, our intention is to smartly leverage these benefits. With a plan to induct 30 plus aircraft over the next five years, Gift City becomes an integral part of the plan. Our first two aircraft are already leased through Gift City.”
When asked if the company plans to induct all the 30 aircraft from Gift City, Chacko said that the company will play by the ear.
FLY91 has already leased two aircraft from Gift City’s Vman Aviation earlier.
The airline started operations on March 18, 2024. According to the DGCA website, it carried over 1300 passengers in March, and over 4,000 passengers in April.
Meanwhile, on Saturday, the airline announced that it has added new flights connecting Jalgaon and Pune, making Pune their 7th domestic destination and increasing Goa-Jalgaon flight frequency to daily.