Sirius India Airlines is a provider of charter services. It has stated that it plans to raise USD100 million through debt or other instruments to expand their fleet and services. The company stated that it aims to have a fleet size of 50 private jets in the financial year 2027. It also plans to expand into other markets, such as the Far East and Southeast Asia.
Sirius India Airlines founder Arun Kahyap, who is also the promoter of the airline, said that it was expected that all funds would be secured by March 2015 so as to start implementing the plan in FY26. The Gurugram-based aviation company launched its air charter service in August in collaboration with Dubai’s Transworld Group.
We aim to secure USD100 million capital by the end of this fiscal year and have already started to do so. We are looking to raise these funds via debt and strategic investors. We have been in discussions with several lenders and investors.
Kashyap, the company’s CEO, said that the funds should be available by March of next year. He added:
“we intend to use the proceeds to acquire fleet and expand into new overseas markets, as well as strengthening the domestic market.”
Airavat Aviation has already established itself in the Middle East and Europe, as well as Africa and Asia. Sirius India Airlines stated in a press release that they will initially operate one Hawker 4000 aircraft with Airavat Aviation, and plan to have a total of three planes by the end of this financial year. The JV will provide charters in India and worldwide, as well as fractional ownership.
Sirius India Airlines Limited, in April, announced its strategic partnership for the introduction of luxury private air travel brands Airavat Aviation into India. Airavat Aviation is a major player in the Middle East and Europe, as well as Africa and Asia. Sirius operates a fleet of luxury jets in the Middle East as well as the domestic market. Kashyap, who stated that demand for charter travel was “very high” in all segments (corporate and lifestyle travel included), said the company was also strengthening its presence on the domestic market to cater to the demand.
“As part our fleet expansion plan we envisage up 50 planes by the end of March 2028, including both small and medium jets, as well as aircraft capable of performing group charter flights. This would allow us to penetrate markets such as the Far East, East Africa and others,” he said. He said that 10 of these aircraft will be joining the fleet within the next fiscal year.
