FLY91 buys two aircraft, fleet to grow to four as airline looks to ramp up weekly flights
Panaji:
Goa-based airline
FLY91, which currently operates around 100 flights per week, wants to scale up its operations to 150 weekly flights to cater to the busy rush during the summer. The airline, which operates out of the
Manohar International Airport
(MIA), purchased two
ATR 72-600
aircraft, with one already joining operations, taking the fleet strength to three aircraft.
The regional airline completed its first year of operations in March and operated over 3,500 flights, carrying close to 1.7 lakh passengers. 'The induction of our third ATR marks a significant milestone in our journey. More importantly, the decision to purchase two aircraft together is a deliberate move towards sustainable, dependable, and measured growth. As we expand, our focus remains on building an efficient and reliable network,' said Manoj Chacko, managing director and chief executive officer of FLY91.
The new aircraft will operate beyond the current UDAN 5.0 routes that connect Sindhudurg, Jalgaon, and Agatti with key hubs such as Bengaluru, Hyderabad, Pune, and Goa. Chacko said that the fleet expansion reinforces the airline's strategy to focus on
tier-2 and tier-3 city connectivity
.
While the airline's first two ATRs were leased from Dubai Aerospace Enterprise, the new twin acquisition signals a strategic shift towards ownership and long-term fleet expansion. The airline's long-term plan is to induct 30 aircraft into its fleet, which will be based at multiple hubs across the country.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Use an AI Writing Tool That Actually Understands Your Voice
Grammarly
Install Now
Undo
The aim is to connect over 50 cities over the next five years, but not all routes have proved successful. The airline stopped operating on the Goa-Bengaluru sector as the demand was not sufficient. Surprisingly, the airline found the Jalgaon sector to be the most profitable.
This landmark twin purchase marks a significant milestone in India's regional aviation sector and signifies FLY91's commitment to measured growth and the potential of regional aviation in the country. The ATR 72-600 is a 72-seater aircraft known for its fuel efficiency and suitability for short runways that are found in tier-2 and tier-3 city airports, which is why FLY91 opted for this specific aircraft for its fleet.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
28 minutes ago
- Time of India
Top 10 mutual funds to invest in June 2025
Many new and relatively-inexperienced investors always look for top mutual funds to invest in . They ask their friends or colleagues or in some mutual fund forums for top or best schemes while starting their investment journey or while deciding to invest extra money. But most of them are not satisfied with the answers they get from the internet or friends due to different reasons. An online search would mostly take you to some websites with ready-made lists. Most often, the schemes may be shortlisted on the basis of their short-term performance. Sometimes, the schemes from a single category may dominate the list because that category happens to be the flavour of the season. Also Read | Volatile Markets and SIPs: What should mutual fund investors do? Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Air conditioners without external unit. (click to see prices) Air Condition | Search Ads Search Now Undo Friends or colleagues may give you names of schemes they like or they are investing. Again, there is no guarantee the schemes are indeed suitable for you. Some people never proceed beyond collecting names of top funds because a lingering doubt about the veracity of the names always holds them back. No wonder, many investors keep visiting mutual fund forums for validation for years - even after they start investing. Live Events That is why ETMutualFunds decided to put out a list of top 10 mutual fund schemes. We have chosen two schemes from five different equity mutual fund categories - aggressive hybrid, large cap, mid cap, small cap and flexi cap schemes – which we believe should be enough for regular mutual fund investors. There are caveats: read till the end to ensure you are picking up the best scheme for you. Also Read | Smallcap mutual funds offer 8% average return in May, all equity mutual fund categories end with gains List of top 10 schemes: Canara Robeco Bluechip Equity Fund Mirae Asset Large Cap Fund Parag Parikh Flexi Cap Fund HDFC Flexi Cap Fund Axis Midcap Fund Kotak Emerging Equity Fund Axis Small Cap Fund SBI Small Cap Fund SBI Equity Hybrid Fund Mirae Asset Hybrid Equity Fund Here are some pointers you should keep in mind while investing in these schemes. First, find out about each category and whether it is suited to your investment objective and risk profile. Aggressive hybrid funds Aggressive hybrid schemes (or erstwhile balanced schemes or equity-oriented hybrid schemes) are ideal for newcomers to equity mutual funds. These schemes invest in a mix of equity (65-80%) and debt (20-35). Because of this hybrid portfolio they are considered relatively less volatile than pure equity schemes. Aggressive hybrid schemes are the best investment vehicle for very conservative equity investors looking to create long-term wealth without much volatility. Large cap funds Some equity investors want to play safe even while investing in stocks. Large cap schemes are meant for such individuals. These schemes invest in top 100 stocks and they are relatively safer than other pure equity mutual fund schemes. They are also relatively less volatile than mid cap and small cap schemes. In short, you should invest in large cap schemes if you are looking for modest returns with relative stability. Flexi cap funds A regular equity investor (one with a moderate risk appetite) looking to invest in the stock market need not look beyond flexi cap mutual funds (or diversified equity schemes). These schemes invest across market capitalisations and sectors, based on the view of the fund manager. A regular investor can benefit from the uptrend in any of the sectors, categories of stocks by investing in these schemes. Small cap, mid cap funds What about aggressive investors looking to pocket extra returns by taking extra risk? Well, they can bet on mid cap and small cap schemes. Mid cap schemes invest mostly in medium-sized companies and small cap funds invest in smaller companies in terms of market capitalisation. These schemes can be volatile, but they also have the potential to offer superior returns over a long period. You can invest in these mutual fund categories if you have a long-term investment horizon and an appetite for higher risk. Finally, any search starting with the word 'best' or 'top' is unlikely to offer you the best solution. You should always choose a scheme that matches your investment objective, horizon, and risk profile. If you do not understand the basic mutual fund concepts or are totally new to mutual funds and investing, you should always seek the help of a mutual fund advisor. If you are looking for our recommendations in various mutual fund category, see: Best mutual funds to invest Methodology for hybrid funds: 1. Mean rolling returns: Rolled daily for the last three years. 2. Consistency in the last three years: Hurst Exponent, H is used for computing the consistency of a fund. The H exponent is a measure of randomness of NAV series of a fund. Funds with high H tend to exhibit low volatility compared to funds with low H. i) When H = 0.5, the series of returns is said to be a geometric Brownian time series. This type of time series is difficult to forecast. ii) When H <0.5, the series is said to be mean reverting. iii) When H>0.5, the series is said to be persistent. The larger the value of H, the stronger is the trend of the series 3. Downside risk: We have considered only the negative returns given by the mutual fund scheme for this measure. X = Returns below zero Y = Sum of all squares of X Z = Y/number of days taken for computing the ratio Downside risk = Square root of Z 4. Outperformance i) Equity portion: It is measured by Jensen's Alpha for the last three years. Jensen's Alpha shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the market. Average returns generated by the MF Scheme = [Risk Free Rate + Beta of the MF Scheme * {(Average return of the index - Risk Free Rate} ii) Debt portion: Fund Return – Benchmark return. Rolling returns rolled daily is used for computing the return of the fund and the benchmark and subsequently the Active return of the fund. 5. Asset size: For Hybrid funds, the threshold asset size is Rs 50 crore Methodology for equity funds: ETMutualFunds has employed the following parameters for shortlisting the equity mutual fund schemes. 1. Mean rolling returns: Rolled daily for the last three years. 2. Consistency in the last three years: Hurst Exponent, H is used for computing the consistency of a fund. The H exponent is a measure of randomness of NAV series of a fund. Funds with high H tend to exhibit low volatility compared to funds with low H. i) When H = 0.5, the series of returns is said to be a geometric Brownian time series. This type of time series is difficult to forecast. ii) When H is less than 0.5, the series is said to be mean reverting. iii) When H is greater than 0.5, the series is said to be persistent. The larger the value of H, the stronger is the trend of the series 3. Downside risk: We have considered only the negative returns given by the mutual fund scheme for this measure. X =Returns below zero Y = Sum of all squares of X Z = Y/number of days taken for computing the ratio Downside risk = Square root of Z 4. Outperformance: It is measured by Jensen's Alpha for the last three years. Jensen's Alpha shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the market. Average returns generated by the MF Scheme = [Risk Free Rate + Beta of the MF Scheme * {(Average return of the index - Risk Free Rate} 5. Asset size: For Equity funds, the threshold asset size is Rs 50 crore.
Time of India
30 minutes ago
- Time of India
Gold price prediction today: Where are gold rates headed on June 3, 2025 and in the near-term?
Considering the ongoing US-China tension and weakness in the US Dollar Index, it is advisable to buy the dips with stoploss below $3,325/$3300. (AI image) Gold price prediction today: Gold rates have shown considerable volatility recently, without establishing a definitive trend in either direction. International developments, particularly the trade tariff decisions by Donald Trump and ongoing geopolitical tensions, continue to influence daily gold prices. Given these unpredictable circumstances, investors face uncertainty about their investment strategies. What's the outlook on gold prices in the near term? Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views: Gold Performance: Following a weekly loss of 2.02% in the week ending May 30, spot gold prices are sharply higher this week due to renewed safe haven demand as US-China and other geopolitical concerns come to the fore. On Monday, China accused the US of violating the US-China trade truce as the US imposed further chip technology curbs. Last week, the US said that it will revoke visas for Chinese students who relate to the Chinese Communist Party or are studying in critical fields. The US Administration also barred the export of critical US jet engine parts and technology to China. It plans to broaden restrictions on China's tech sector with new regulations to capture subsidiaries of companies under US curbs as well. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Morocco (Prices May Surprise You) Container House | Search Ads Search Now Undo China's slow approval for rare earth exports is being cited as the cause behind US's actions against China. Gold Data roundup: US data released Monday were slightly weaker than expected. ISM manufacturing came in at 48.50 Vs the forecast of 49.50 as the manufacturing sector contracted for the third straight month on tariff uncertainties. ISM's Import component slumped to a 16-year low, while the export gauge fell to the lowest level in five years. Contraction spending in April contracted by 0.4% as against the forecast of a 0.2% expansion. The Eurozone's manufacturing PMI (May) at 49.40 matched the estimate in its final reading, while the UK's manufacturing PMI at 46.40 beat the estimate of 45.10. Gold ETF: Total known global gold ETF holdings stood at 88.508Moz as of May 30. Holdings recorded first weekly inflow after five straight weeks of outflows as holdings are up 6.82% YTD. Upcoming data and events: The European Central Bank will deliver its monetary policy on June 5 wherein the Central Bank is expected to cut the key rates by 25 bps-- its eighth rate cut since the Bank embarked on its rate cutting spree in June 2024. Major US data to be released ahead in this week include JOLTs job openings (April), ADP employment change (May), ISM Services (May), trade balance (April) and nonfarm payroll (May). Investors will also monitor China's manufacturing and services PMIs (May) and Europe's services PMIs (May). Geopolitical watch: The Security Service of Ukraine (SBU) carried out a massive drone attack deep inside Russia on June 1, which reportedly hit 41 Russian aircrafts. Both the countries concluded their latest peace talks in Istanbul on June 2; however, peace prospects remain dim. US Dollar Index and yields: At the time of writing, the US Dollar Index was at 98.71, down nearly 0.60% on the day, lowest since April 2022 barring April 2024 --reciprocal tariff sell-off period. Big investments cutting their Dollar Index forecasts is also weighing on the Greenback. Ten-year US yields and 30-year US yields respectively at 4.44% and 4.9781% were up by 0.90% on the day. Gold price Outlook: A close above $3,372 will be quite positive for the metal. Considering the ongoing US-China tension and weakness in the US Dollar Index, it is advisable to buy the dips with stop loss below $3,325/$3300. Worsening geopolitical situation and further weakness in the US Dollar Index may help the yellow metal test the psychological resistance at $3400, followed by possible tests of next resistance levels at $3414/$3435. Traders need to monitor the evolving China-US trade situation to minimize their risks. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
30 minutes ago
- Time of India
3 reasons why you should not swap your seats on a flight
In the age of viral plane dramas and mid-air etiquette debates, one seemingly harmless request has become the latest in-flight controversy: swapping seats. At first glance, it feels like a small act of kindness, a parent wants to sit with their child, a couple wants to be together, or someone just prefers the window. But as airlines get stricter, tech gets smarter, and passengers get bolder, changing your seat at 30,000 feet might do more harm than good. And yes, it could even cost you money, or your peace of mind. Accountability New York Post , citing cabin crew member Leanna Coy's TikTok video, shared her cautionary tale after swapping her aisle seat on a flight to Jordan. She explained that, while she's usually adamantly against such switches, she gave in this one time. only to immediately regret it. Coy warned that if the person you switch with causes trouble mid-air, the accountability might come back to you, since your name is still attached to that seat in the airline's system. Preloaded payments What's more, on United Airlines , where passengers preload payment details into the app to buy food and drinks, Coy was alarmed to realise that the person in her original seat could technically make purchases using the information linked to her seat number and account. Although she didn't suspect malicious intent, the experience left her anxious and wiser. She supports people if they don't want to switch seats, as she believes that one is entitled to the seat that they chose. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo Protecting what you paid for Beyond security concerns, there's also the financial factor. As The Wall Street Journal reports, passengers like James Randolph are increasingly saying no to seat-swapping requests. The 35-year-old digital marketing director from Florida prefers to stay put, especially after paying extra for a specific seat. For many travellers, the rise in seat selection fees and basic economy limitations means that every inch of legroom or access to an aisle comes at a price. Refusing to switch isn't about being unfriendly; it's about protecting what you paid for. MORE STORIES FOR YOU ✕ « Back to recommendation stories I don't want to see these stories because They are not relevant to me They disrupt the reading flow Others SUBMIT But with rising ticket costs, added fees, and personalised digital systems tied to your seat number, it's fair to say that seat swapping isn't as simple or innocent as it used to be.
