Business
Fly91 set to begin commercial operations on March 18; aims to achieve break-even in 2 years
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NEW DELHI: Goa-based regional airline FLY91 is gearing up to kickstart its commercial flights on March 18 with a team of approximately 350 staff by the end of its first year of operations. Currently operating with two ATR 72-600 planes, FLY91 aims to expand its fleet by adding four more aircraft in the initial year.
The airline plans to achieve break-even within two years establishing a profitable, sustainable, and scalable business model.
The airline’s approach involves studying 24 airlines, both successful and failed, to analyze the factors influencing their outcomes.
Chacko highlighted, “Let us copy what the successful airlines did and ensure that we avoid the pitfalls experienced by failed airlines.”
Fly91 MD and CEO Manoj Chacko mentioned that the airline will receive Viability Gap Funding (VGF) under the regional air connectivity scheme UDAN, eliminating the need to raise funds at the moment.
Chacko said, “We also have VGF for the sectors we have won. If we take all the sectors we have secured and operate the full schedule, it will amount to around Rs 200 crore annually.”
FLY91 will initially operate weekly flights connecting Goa’s Manohar International Airport to Bengaluru and Hyderabad, along with services linking Sindhudurg in Maharashtra to Bengaluru and Hyderabad.
Future plans include flights to Agatti, Pune, Jalgaon, and Nanded, with services to Agatti in Lakshadweep starting in April.
The current staff strength of around 200 is expected to increase to approximately 350-360 by the end of the first operational year.
Chacko said, “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.”
The regional airline received its air operator permit from the DGCA on March 6. FLY91 is all set to embark on its journey towards providing regional air connectivity to passengers.
The airline plans to achieve break-even within two years establishing a profitable, sustainable, and scalable business model.
The airline’s approach involves studying 24 airlines, both successful and failed, to analyze the factors influencing their outcomes.
Chacko highlighted, “Let us copy what the successful airlines did and ensure that we avoid the pitfalls experienced by failed airlines.”
Fly91 MD and CEO Manoj Chacko mentioned that the airline will receive Viability Gap Funding (VGF) under the regional air connectivity scheme UDAN, eliminating the need to raise funds at the moment.
Chacko said, “We also have VGF for the sectors we have won. If we take all the sectors we have secured and operate the full schedule, it will amount to around Rs 200 crore annually.”
FLY91 will initially operate weekly flights connecting Goa’s Manohar International Airport to Bengaluru and Hyderabad, along with services linking Sindhudurg in Maharashtra to Bengaluru and Hyderabad.
Future plans include flights to Agatti, Pune, Jalgaon, and Nanded, with services to Agatti in Lakshadweep starting in April.
The current staff strength of around 200 is expected to increase to approximately 350-360 by the end of the first operational year.
Chacko said, “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.”
The regional airline received its air operator permit from the DGCA on March 6. FLY91 is all set to embark on its journey towards providing regional air connectivity to passengers.
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