Private Equity

PE Fund Investments

New airline Fly91 attracts Rs.200-Cr

Economic Times  

Mumbai-based Just Udo Aviation Private Limited, which has promoted regional airline Fly91 has raised private capital of INR 200 crore. The airline - co-founded by Harsha Raghavan, the former head of Fairfax India and Manoj Chacko, executive vice president of defunct Kingfisher Airlines - will have the new Goa airport built by GMR as its main base. The airline has recently received a No Objection Certificate (NOC) from the Ministry of Civil Aviation. It will now start the process to get an Air Operator's Permit (AOP) from the DGCA.