Mumbai: Regional airline Fly91 is aiming for operating break-even in the next financial year, said a senior executive.
The carrier reported a net loss of ₹67.6 crore on operating revenue of ₹127.4 crore in FY25, its first full financial year of operations, showed regulatory filings reviewed by ET.
Fly91 would strive to improve its operational performance through fleet expansion, better aircraft utilisation, and addition of new routes, said Manoj Chacko, chief executive officer and managing director of Fly91.
"The focus will shift to the next phase of growth, anchored in a measured growth approach, with plans to induct six additional aircraft and expand the network by adding new regional destinations as we continue to scale operations and deepen our regional footprint," said Chacko.
Total operating expenses stood at ₹202.2 crore in FY25. Flight operations costs totalled ₹108.1 crore, while maintenance and overhaul expenses were ₹32.8 crore.
Chacko attributed the higher costs to Fly91's start-up phase. "The costs are linked to typical costs incurred by a new regional airline, which include initial fleet induction, pilot hiring, and pilot training costs and early-stage ramp-up costs," he said.
Peer StarAir began operations in January 2019. In FY20-its first full year-the airline posted a net loss of ₹39.4 crore on revenue of ₹51 crore. By FY25, StarAir had swung to its maiden net profit of ₹61.9 crore.
Fly91 currently flies to eight destinations. Next fiscal, the airline plans to add Dabolim in Goa, Kochi, Vijayawada, Rajahmundry, Hubballi, Indore and Nanded.
Fly91 started FY25 with a fleet of three ATR turboprop planes, which it plans to double the fleet this year.
The carrier reported a net loss of ₹67.6 crore on operating revenue of ₹127.4 crore in FY25, its first full financial year of operations, showed regulatory filings reviewed by ET.
Fly91 would strive to improve its operational performance through fleet expansion, better aircraft utilisation, and addition of new routes, said Manoj Chacko, chief executive officer and managing director of Fly91.
"The focus will shift to the next phase of growth, anchored in a measured growth approach, with plans to induct six additional aircraft and expand the network by adding new regional destinations as we continue to scale operations and deepen our regional footprint," said Chacko.
Total operating expenses stood at ₹202.2 crore in FY25. Flight operations costs totalled ₹108.1 crore, while maintenance and overhaul expenses were ₹32.8 crore.
Chacko attributed the higher costs to Fly91's start-up phase. "The costs are linked to typical costs incurred by a new regional airline, which include initial fleet induction, pilot hiring, and pilot training costs and early-stage ramp-up costs," he said.
Peer StarAir began operations in January 2019. In FY20-its first full year-the airline posted a net loss of ₹39.4 crore on revenue of ₹51 crore. By FY25, StarAir had swung to its maiden net profit of ₹61.9 crore.
Fly91 currently flies to eight destinations. Next fiscal, the airline plans to add Dabolim in Goa, Kochi, Vijayawada, Rajahmundry, Hubballi, Indore and Nanded.
Fly91 started FY25 with a fleet of three ATR turboprop planes, which it plans to double the fleet this year.
