FLY91 orders 40 ATR aircraft at $1 bn list price; largest order globally by a regional carrier

NEW DELHI: Manoj Chacko-headed regional carrier FLY91 Thursday signed a firm order for 40 ATR 72-600 aircraft worth $1 billion at list price. This is the largest ATR order globally by any regional airline. The delivery of these aircraft will begin in the last quarter of 2027 and last over five years.“As of now we have six ATR72-600 aircraft and will lease six to eight more by the time these deliveries begin. We had initially raised Rs 250 crore (when the airline started flying in March 2024) and are raising an additional Rs 250 crore from some marquee investors of which 25% is already in,” Chacko told TOI.“If someone can get the basics right, then India is the market to be in. I believe in the power of India and am betting on it. Slow, steady and in a test match manner. Look at IndiGo. With. Fleet of 400 aircraft at present, they are the world’s fifth largest airline. That is the power of the Indian market,” he said.FLY91 currently operates 280 weekly flights between 12 cities, with Tirupati going to be the 13th city from next Thursday. Mumbai and Manguluru could be its stops. The airline plans ot have a fleet of “more than 60 aircraft over coming years. The landmark order for 40 aircraft will provide the scale to build a much larger regional network and connect more unserved and underserved cities across the country,” Chacko said.Union aviation minister Ram Mohan Naidu said: “Govt’s Rs 28,840 crore investment under the UDAN 2.0 framework reflects our strong commitment to expanding regional air connectivity and bringing more tier 2 and tier 3 cities into the national economic mainstream. FLY91’s track record and its landmark fleet commitment reflects the confidence that India’s aviation sector continues to inspire, and investments of this scale in regional capacity will play a vital role in translating this vision into reality.”Chacko, founder-MD-CEO of FLY91, said: “FLY91 was built on a singular conviction that India needs a dedicated regional airline focused on connecting emerging cities directly and efficiently. We have grown steadily and consistently since our launch, and this 40-aircraft order becomes the foundation for our next chapter. Having operated more than 15,000 flights in just two and a half years, we have built the operating experience and foundation to now scale significantly. Together with ATR, we are building the regional aviation network that Bharat deserves, one that unlocks opportunity, strengthens local economies, and truly keeps Bharat Unbound.”ATR CEO Nathalie Tarnaud Laude said: “This expansion aligns closely with the Indian govt’s ambition to strengthen regional connectivity through UDAN, bringing affordable and reliable air transport to underserved communities. The ATR 72-600 combines unmatched economics, efficiency and reliability, enabling airlines to offer affordable fares while connecting millions of passengers to opportunities across India.” ATR is a joint-venture between Airbus and Leonardo.Get the latest Business News and Live updates. Download the TOI app.