The venture, which has an initial capital of Rs 200 crore, plans to start operations in the December quarter this year with two or three ATR 72-600 aircraft, Chacko said.
Fly91, which plans to operate a regional carrier, has received the no objection certificate from the Ministry of Civil Aviation (MoCA), according to officials.
The venture Just Udo Aviation Pvt Ltd, which will operate flights under the brand 'Fly91', is promoted by former Kingfisher Airline's senior executive Manoj Chacko and former Fairfax India head Harsha Raghavan, among others.
Chacko told PTI that the regional airline will be headquartered in Goa and will operate a fleet of ATR 72-600 aircraft. A senior official said the ministry has given the No Objection Certificate (NOC) for the proposed airline.
With the receipt of NOC, the airline will soon start the process for applying for Air Operator's Permit with the Directorate General of Civil Aviation (DGCA), Chacko, one of the promoters, said.
The venture, which has an initial capital of Rs 200 crore, plans to start operations in the December quarter this year with two or three ATR 72-600 aircraft, Chacko said.
According to him, the airline plans to have six planes by the end of the first year of operations and 12 by the end of the second year of flying. The airline, which will mainly fly between Tier II and III cities, aims to connect around 11 cities in the first year of operations, Chacko said.
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