FLY91 Looking at Navi Mumbai & Noida Airport as Future Base

FLY91, the newly launched regional carrier of India is looking to add four more aircraft by the end of this year. Once the airports in Noida and Navi Mumbai are up and running, the airline will evaluate options to make one of these airports its base. Currently, it is based at Goa Manohar International Airport (GOX).

FLY91: Looking at Noida and Navi Mumbai as Base

By the end of this year, Noida Airport is expected to operationalize. It has already received its IATA code: DXN. Air calibration of DVOR and DME have been conducted successfully and the first test flight is expected soon. Similarly, the Navi Mumbai Airport has also received NMI as its location code. It is expected to commence operations by mid-2025.

At the CAPA India Aviation Summit, the Managing Director of FLY91, Manoj Chacko interacted with media personnel, where he discussed the future plans of the airline.

He said that FLY91 is considering Noida and Navi Mumbai Airport as one of its base stations. Currently, it has only one base at Goa Airport. In the next five years, the airline is aiming to have a total of five bases. It is exploring the options of multiple bases in the country to enhance flexibility.

There are many reasons for an airline to consider an under-construction large airport as its hub. One is the slot flexibility. A new airport comes with a hell bunch of slots. The airline can select the slot as per its requirements. In such a case, the expansion potential of the airline increases. Secondly, a new airport comes with modern infrastructure.

FLY91: Six Aircraft by 2024-End

By signing an agreement with Dubai-based DAE Aerospace, the airline has acquired two ATR-72s, which were previously operated by FlyBig Airlines. As per Chacko, FLY91 will end 2024 with a fleet of six aircraft. It will be adding four more aircraft in the upcoming months. As per flight tracking sites, there are no aircraft under production for FLY91.

In the next five years, the airline aims to have a fleet of 30 aircraft. It is looking to connect 50 destinations from five base stations. The next phase of network expansion will be executed in the next financial year. Currently, the airline is fully utilizing its fleet.

Recently, it signed a pay-by-hour agreement with ATR. As part of this agreement, ATR will provide the repair, overhaul, and pooling services for Line replacement units, propeller availability, and repair services, as well as engineering and on-site support for the growing fleet of FLY91. As of now, it applies to the two ATRs in the airlines’ fleet. However, this agreement will expand to the increased fleet, whenever the airline receives more deliveries.

Financing & Break-Even Point

The three-month-old airline has raised an investment worth $25 million (Rs 207.5 crore). It aims to break even in the final half of the upcoming fiscal year. Break-even refers to the point when the total expenses equal the airline’s total revenue. At such a point, the airline is neither in profit nor in loss.

In the Indian market, many airlines find it difficult to break even. Airlines like Vistara have done a great job in terms of services, but if you ask the owner, the airline was a disaster, when it comes to finances. In January 2025, the airline will complete a decade of operations, or maybe, the brand will cease to exist by then. In this long journey, there were only a few quarters in which the airline posted a profit, otherwise it was a cash-eating cow.

Since its inception, FLY91 has quickly grown its network. With a pair of ATRs, it is currently operating across seven destinations: Hyderabad, Bengaluru, Goa Mopa, Sindhudurg, Jalgaon, Pune, and Agatti Island.

Conclusion

FLY91, the newest regional carrier in India is looking at Noida and Navi Mumbai Airport as one of its bases. The airline is looking to break even in the second half of next fiscal year. It is eyeing a fleet of 30 aircraft in the next five years. During this, it will grow its presence to 50 Indian cities with five bases.

What do you think about the expansion plans of FLY91? Discuss in the comment section.