NEW DELHI: Regional airline FLY91, which has been flying for over two years, on Thursday placed an order for 40 new ATR 72-600 turbo-prop aircraft, valued at nearly USD 1 billion.
It is also the single largest order for ATR planes by a regional carrier globally.
The order for these 40 aircraft is worth nearly USD 1 billion, said FLY91 Chairman Harsha Raghavan.
"The landmark order for 40 aircraft will provide the scale to build a much larger regional network and connect more unserved and underserved cities across the country," the airline said in a release.
FLY91 Founder, Managing Director and CEO Manoj Chacko told PTI that delivery of the planes will start from the end of 2027 and all the aircraft are expected to be delivered by 2032.
The signing ceremony for the aircraft order took place in the presence of Civil Aviation Minister K Rammohan Naidu, ATR CEO Nathalie Tarnaud Laude, FLY91 Chairman Raghavan, ATR Chief Commercial Officer Alexis Vidal, Chacko and others in the national capital.
ATR is a joint venture between Airbus and Leonardo.
Currently, FLY91 has a fleet of six ATR 72-600 planes and operates over 280 weekly flights.
The airline is poised for exponential expansion to more than 60 aircraft over the coming years, the release said.
Laude said ATR 72-600 combines unmatched economics, efficiency and reliability, enabling airlines to offer affordable fares while connecting millions of passengers to opportunities across India.
According to Raghavan, the 40-aircraft order is a defining milestone for the airline.
Meanwhile, Chacko said FLY91 is in the process of raising Rs 250 crore and 25 per cent of the funding round has been completed.