New Delhi: India will soon get a new airline with the aviation ministry on Wednesday issuing a no objection certificate to ‘Fly 91’, that is being launched by Manoj Chacko, a veteran of travel industry.
Using turboprop ATR 72- 600, the Panjibased airline plans to start flying in this October-December quarter once it gets the DGCA licence and hopes to have six planes in its fleet by the end of first year. Later it will induct six-seven ATRS annually over the next five years to have about 40 planes by the end of that period.
“We are aiming at an October launch, subject to getting all the required clearances. Comfortable journey on ATRS is between 45 to 90 minutes, which means we are looking at connecting Goa (Mope being looked at closely unless Dabolim can come up with a commercially attractive offer) to cities that cannot accommodate a bigger plane and/or where the demand is not adequate to just- fee deploying bigger plane. The- se include Kolhapur, Sholapur, Nashik, Hubli and Mysore,” Chacko, who has worked with airlines like Emirates and Kingfisher and several travel companies for over 25 years now.
The main anchor investor is Convergent Finance, that was launched by former Fair- fax India CEO Harsha Raghavan. “There are other investors too. We will begin operations as a well capitalised company from Day One,” he said. The air- line now requires among other things like security clearance for directors and a DGCA licence to begin operations.
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