India’s FlyBig to Have New Owners Soon; Fleet to Increase to 20 Aircraft

It seems that FlyBig Airlines will soon undergo an ownership change. The current owners have signed an agreement with a Mumbai-based company named FA Airlines for the ownership transfer. The pandemic-era airline is following the same trend, that Hyderabad-based TruJet went through.

FlyBig: FA Airlines Will be the New Owner

FlyBig was incorporated in 2020. Founded by Captain Sanjay Mandavia, the airline had huge ambitions. Despite being born in the pandemic period, the airline managed to source a fleet of a couple of ATR-72s to operate scheduled flights. Majorly, the airline operates flights under the UDAN scheme.

Now, it will witness a change in ownership. The current owners have entered into a partnership with Mumbai-based FA Airlines for ownership exchange. FA Airlines was incorporated in 2022. On its website, it claims to be an airline for the common man.

However, a deeper look into the portfolio states that it does not have a single aircraft. It does not operate to any destination. Hence, it is difficult to term it as an airline. One may basically call it a travel agency. However, in this article, we will continue to call it an airline.

According to Press Trust of India, once the monetary transaction and ownership takeover is complete, the new owners are planning a fleet overhaul. FA Airlines is expected to enhance its fleet to 20 aircraft. Currently, FlyBig Airlines has three 19-seater Twin Otters in its fleet.

Who is Behind the New Owner of FlyBig Airlines?

Let us take a look at the management of FA Airlines.

Santosh Bhartiya is the Chairman of FA Airlines. He is an Indian journalist and editor-in-chief of Chauthi Duniya, the first Hindi weekly newspaper. In 1986, he started this newspaper , focused on investigative journalism. He has been a former Member of Parliament from Farrukhabad parliamentary seat in 1989.

Fauzia Arshi is the Managing Director of FA Airlines. She is one of India’s youngest entrepreneurs in the corporate world. In the film industry, she is a famous personality. She heads Daily Multimedia Limited and is the first female professional guitarist in the country.

In the advisory board, there are two members: Harsh Vardhan and Col Subir Ahluwalia. Mr Harsh Vardhan was appointed the Chief Executive Officer (CEO) of Vayudoot in 1983. In 1986, the airline achieved a world record for connecting 32 airports in a single year. Col Subir Ahluwalia is currently the Vice President of Aviation Solutions International. This firm specializes in aviation consultancy.

In short, the MD and Chairman do not have any history in the aviation world. However, the advisory board has some experienced personnel, specifically Mr Harsh Vardhan. It would be interesting to see how the airline ages under this management.

FlyBig: Journey Full of Struggle

FlyBig was formed in 2020 by Captain Sanjay Mandavia. He earlier served Kingfisher Airlines for a long time. After establishment, the airline received one ATR-72 from Avation PLC on lease. It started operations on UDAN routes. In the year 2022, it leased two more ATR-72s, this time from Vman Aviation. Later on, it signed an agreement with De-Havilland Canada to procure a bunch of 19-seater Twin Otters.

However, the trouble started when lessor Vman Aviation forced FlyBig to surrender its ATR-72 fleet in 2023. The lessor alleged that the airline forged documents with fake signatures to make transactions from the escrow account managed by both parties.

It even filed a complaint in the Economic Offences Wing in Gurgaon against the airline. However, FlyBig refuted these allegations and said that the lessor got a good deal from some other airline, and hence, to end the current contract, it is making such allegations.

In the end, FlyBig had to surrender its entire ATR-72 fleet. This resulted in the dissolution of the airline’s Northeast network. Now, it remains with a fleet of three 19-seater Twin Otter aircraft, with which it operates flights within North India. The journey has been struggling for the regional carrier.

Don’t Be Too Happy!!

If you are interested in Indian aviation and thinking that finally, the fleet of FlyBig Airlines will grow. Let me narrate a story of another airline for you. Just listen to this, and match this story with that of FlyBig.

The story is of Hyderabad-based TruJet Airlines. Formed in 2014, the airline launched operations in 2015. It was initially owned by actor Ram Charan but later, the ownership was transferred to Megha Engineering and Infra Limited (MEIL). Due to pandemic woes, the airline was in a difficult financial situation. In April 2021, it announced that an American firm was keen to invest in it. It had plans to invest and acquire 54 E190 and 54 A220 jets. But the deal never went through.

In May 2022, the airline eventually ceased operations and has been grounded since then. There have been reports of various companies like WinAir and NS Aviation acquiring a stake in the airline, but no deal has gone through.

This is the same trend being followed by FlyBig. After the ownership transfer, it will be interesting to see the fate of the airline.

Conclusion

FlyBig, an Indian regional carrier is all set to undergo an ownership transfer. FA Airlines is the new company, which will buy the airline. It has plans to increase the fleet of FlyBig to 20 aircraft. One of the advisory members is the former CEO of Vayudoot Airlines. The airline was forced to surrender its ATR-72 fleet in 2023, after which the ATRs were transferred to Fly91.

What do you think about this ownership transfer? Discuss in the comment section.