FLY91’s Bet: Regional Aviation Isn’t Dying Everywhere

PR: New Delhi, 03 September 2026 – FLY91 and ATR today announced the purchase of 40 ATR 72-600 aircraft for around $1 billion, marking the largest ATR firm order in almost a decade, and the largest ever by a regional airline. Deliveries are scheduled from 2027 to 2032. The landmark agreement lifts ATR’s 2026 order intake to 54 aircraft, already surpassing the company’s total net orders for the whole of 2025, with more than three months still remaining in the year.

Less than three years after launching operations, pure regional player FLY91 is set to grow its fleet from six aircraft to 60 in the next five years. The order reflects both the airline’s confidence in the country’s growth potential and ATR’s conviction that regional aviation will play a central role in connecting India’s next generation of travellers.

India’s regional aviation expansion requires aircraft capable of delivering affordable air travel on short regional routes while maintaining the highest levels of efficiency and reliability. In a market where fare affordability remains critical and fuel represents a significant share of operating costs, the ATR 72-600 enables airlines to operate short regional routes efficiently and reliably, supporting sustainable growth between Tier 2 and Tier 3 cities while helping make air travel accessible to millions more citizens.

Kinjarapu Ram Mohan Naidu, Union Minister for Civil Aviation, said: “Regional connectivity is a fundamental pillar of India’s aviation growth story, and bridging smaller cities with major economic hubs remains a national priority. FLY91’s fleet commitment reflects the confidence that India’s aviation sector continues to inspire. As we roll out UDAN 2.0, investments of this scale in regional capacity will play a vital role in bringing more tier 2 and tier 3 cities into the national economic mainstream.”

Harsha Raghavan, Chairman, Chairman, FLY91 and Managing Partner, Convergent Finance, said: “As a founding partner of FLY91 and its lead investor, we have believed from the outset in the convergence of two powerful opportunities: India’s growth story and the potential of regional aviation. This 40-aircraft order is a defining milestone for FLY91 and provides the platform to scale our vision over the coming years. We believe regional connectivity will be a critical enabler of India’s next phase of growth, linking emerging economic centres, businesses and communities across the country.”

Manoj Chacko, Founder, Managing Director & CEO, FLY91, added: “FLY91 was built on a singular conviction: India needs a focused, dedicated regional aviation network that connects emerging cities directly and efficiently. We have grown deliberately and consistently since our inception and this 40-aircraft order is the catalyst for our next phase of expansion. The ATR 72-600 offers the ideal operating economics for our network and our deepened partnership with ATR will be central to powering India’s regional aviation revolution”.

Nathalie Tarnaud Laude, Chief Executive Officer of ATR, added: “We are incredibly proud that FLY91 has chosen ATR to support this new phase of its development. This expansion aligns closely with the Indian Government’s ambition to strengthen regional connectivity through UDAN, bringing affordable and reliable air transport to underserved communities. The ATR 72-600 combines unmatched economics, efficiency and reliability, enabling airlines to offer affordable fares while connecting millions of passengers to opportunities across India.”

The order comes at a pivotal moment for the country’s aviation sector. ATR’s Mobility Monitor records approximately 4.6 billion intercity journeys in the country annually, with only around 3% currently made by air, highlighting the vast opportunity still available for regional aviation. More importantly, it represents an opportunity to bring the benefits of air travel to millions of Indians who have never had it as a realistic option before, supporting up to 35 million additional passengers as regional connectivity continues to expand.

Notes:

• United and Alaska just showed the same lesson from opposite directions: when capacity gets tight, regional flying is the first thing sacrificed. FLY91 just showed what happens when a market is nowhere near that constraint yet.
• The Indian regional carrier — barely three years old — signed a firm order for 40 ATR 72-600s on September 3, worth roughly $1 billion, the largest ATR order in nearly a decade and the largest ever placed by a regional airline. FLY91 is going from 6 aircraft to 60 within five years. Deliveries run from 2027 through 2032.
• ATR’s figure is the real story behind this order: roughly 4.6 billion intercity journeys take place in India every year, and only about 3% of them are by air. That’s an almost incomprehensibly large addressable market sitting on the ground. Compare that to the US, where the regional network is mature and largely saturated. FLY91 isn’t fighting over existing regional traffic. It’s building toward demand that doesn’t yet have an air travel option.
• India’s civil aviation minister cited UDAN 2.0 — the government’s regional connectivity subsidy scheme — directly in FLY91’s own order announcement, framing this fleet commitment as aligned with national policy.
• This order lifts ATR’s 2026 intake to 54 aircraft, already surpassing all of 2025’s net orders with more than three months of the year still to go. It’s been a tough few years for turboprop makers.
• Regional flying isn’t inherently fragile or inherently strong — it’s a bet on where the addressable market sits. In the US, that market is mature and shrinks first under pressure. In India, it’s enormous and barely tapped, and FLY91 placed the largest bet in nearly a decade to go get it.