Funding · Mobility & Logistics

Regional airline FLY91 plans ₹150 crore growth funding

By Startup Enthusiast · 24 August 2026

What they do

FLY91 is a regional airline based in Goa that operates a fleet of six ATR-72 aircraft across various Indian cities

The company is raising ₹150 crore from new and existing investors, having already secured ₹63 crore in the first tranche of this round

The airline is expanding its network to include Tirupati and is strengthening connectivity from its primary bases in Goa and Hyderabad

The regional airline FLY91 is initiating a fundraising round to secure ₹150 crore for business growth.
The company has already successfully closed the first tranche of this funding, amounting to ₹63 crore.
Management is currently in discussions with aircraft lessors to increase the size of its existing fleet.
The airline recently announced the addition of Tirupati as a new destination served from Hyderabad, Rajahmundry, and Vijayawada.
Key leadership appointments include Krishnan Balakrishnan as president and COO, and Jitendra Kushwah as the new CFO.

The company previously raised approximately ₹250 crore through CCPS (compulsory convertible preference shares), which have since been converted into equity.
The airline reports strong operational performance with load factors (percentage of available seats filled by passengers) exceeding 90%.
The business focuses on maintaining a simple, single-class fleet structure to manage operational complexity.

FLY91 operates as a regional airline connecting various cities across India.
The current fleet consists of six ATR-72 aircraft.
The airline serves multiple destinations including Goa, Mumbai, Bengaluru, Pune, and Lakshadweep.
Fares for regional flights start at ₹1991 on an all-inclusive basis.
The company offers specialized fares for members of the Armed Forces.
Travel to Lakshadweep requires passengers to obtain a valid Restricted Area Permit.