Fly91 orders 40 ATR planes in $1 billion expansion

Indian regional airline Fly91 said Thursday it had ordered 40 ATR 72-600 turboprop aircraft in a deal worth approximately $1 billion.

The airline said the order from Franco-Italian manufacturer ATR would support an expansion of services on routes traditionally not served by larger carriers.

Fly91 said the deal would help it grow from its current fleet of six aircraft to more than 60 over the coming years.

“We have grown steadily and consistently since our launch, and this 40-aircraft order becomes the foundation for our next chapter,” chief executive Manoj Chacko said in the airline's statement.

India is the world's third-largest domestic aviation market and has been seeking to connect smaller cities and towns through a regional connectivity network. In May, the government approved an initiative promising about $3 billion in financial assistance for setting up new airports and subsidies to local airlines.

India's aviation sector has grown over the past decade, with total passenger numbers more than doubling, but it has also faced headwinds including the closure of Pakistani airspace and several safety setbacks.