FLY91 Orders 40 ATR 72-600s in $1 Billion Regional Bet

Indian regional carrier FLY91 has placed a firm order for 40 new ATR 72-600 aircraft, valued at approximately $1 billion. The order, announced on September 3, 2026, is the largest single firm order for ATR aircraft in nearly ten years and the biggest ever placed by a regional airline.

Deliveries are scheduled to run from 2027 through 2032. This massive fleet commitment will see the less-than-three-year-old airline grow from its current six aircraft to a planned fleet of 60 within the next five years.

A Catalyst for India's Regional Connectivity

The order is framed as a direct response to India's vast potential for regional air travel. According to ATR's own Mobility Monitor data, approximately 4.6 billion intercity journeys occur in India annually, with only about 3% currently made by air. FLY91's leadership sees this as a foundational opportunity rather than a competition for existing passengers.

"FLY91 was built on a singular conviction: India needs a focused, dedicated regional aviation network that connects emerging cities directly and efficiently," said Manoj Chacko, the airline's Founder, Managing Director and CEO. He described the 40-aircraft order as the catalyst for the carrier's next expansion phase.

Alignment with National Policy and Economics

The expansion aligns with the Indian government's UDAN (Ude Desh ka Aam Naagrik) regional connectivity scheme. Kinjarapu Ram Mohan Naidu, the Union Minister for Civil Aviation, stated that bridging smaller cities with major hubs remains a national priority. He directly linked FLY91's investment to the ongoing rollout of UDAN 2.0, noting it would help bring more tier 2 and tier 3 cities into the national economic mainstream.

ATR executives highlighted the aircraft's suitability for this mission. Nathalie Tarnaud Laude, CEO of ATR, said the ATR 72-600 combines economics, efficiency and reliability, enabling affordable fares. In a market where fuel costs are significant, the turboprop's efficiency is seen as key to sustainable growth on short regional routes.

Order Details and Market Context

The landmark deal has immediate significance for the manufacturer. It boosts ATR's total order intake for 2026 to 54 aircraft, already surpassing the company's total net orders for the entirety of 2025 with more than three months remaining in the year.

FLY91's investors expressed strong confidence in the convergence of India's economic growth and regional aviation's potential. Harsha Raghavan, Chairman of FLY91 and Managing Partner at lead investor Convergent Finance, called the order a defining milestone that provides the platform to scale the airline's vision. The carrier believes its expansion could support up to 35 million additional passengers as regional connectivity grows.

The order shows a stark contrast in regional aviation markets globally. While mature networks like those in the United States often see regional capacity cut first during industry constraints, FLY91's bet is on an enormous, barely tapped addressable market where demand currently lacks an air travel option.