Fly91 orders 40 ATR-72 aircraft in $1-billion fleet expansion push across India

New Delhi: Regional airline Fly91 has placed an order for 40 ATR-72 turboprop aircraft, one of the largest for the type in recent times, as the carrier bets on expanding connectivity to smaller towns and cities across India underserved by larger jets, said people aware of the development.

At list price, the order is valued at more than $1 billion. However, airlines tend to get heavy discounts on such large orders.

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Fly91 is also in the process of raising about ₹250 crore from existing and new investors to support its expansion plans, the people said.

The order will more than double Fly91's fleet and significantly expand its footprint across tier-2 and -3 cities. The carrier currently operates a small fleet of ATR-72 planes connecting airports under the government's UDAN regional connectivity scheme, including Sindhudurg and Jalgaon.

Deliveries of the new planes are slated to start towards the end of 2027 and completed over five years.

Spokespeople at Fly91 and ATR didn't respond to queries.

Manoj Chacko, founder and CEO, Fly91, said: "We are heavily bullish on the India story and want to build a reliable transportation company out of India. There are 100 such airports in India where a big aircraft like Airbus A320 and Boeing 737 can't go. The ATR-72 aircraft perfectly suits those routes and for our cost model."