TBM Staff - Mumbai Gurugram-based Sirius India Airlines, a private air charter service provider, plans to raise USD 100 million to fund its ambitious expansion strategy. The company, which launched its operations in August 2023 in partnership with Dubai-based Transworld Group, aims to capitalise on the surging demand for private air travel across corporate and lifestyle sectors.
Aggressive Fleet Expansion
Sirius India Airlines is targeting a fleet size of 50 private jets by the financial year 2027, up from its current fleet of three luxury jets. The planned acquisition will include small and medium-sized jets and group charter aircraft to serve a wider clientele. Ten new aircraft are set to join the fleet in the next fiscal year, marking the initial phase of its growth.
Global Market Ambitions
The airline plans to extend its reach beyond India to new markets in the Far East, Southeast Asia, and East Africa. Domestically, it is strengthening its presence in western and southern India to meet growing demand.
Arun Kashyap, Founder and Promoter of Sirius India Airlines, stated, “We are aiming to secure USD 100 million capital by this fiscal and have already started discussions with lenders and investors. These funds will enable us to acquire fleet and explore new overseas markets while bolstering our domestic operations.”
Strategic Partnerships and Vision
In April, Sirius announced a partnership with Airavat Aviation, a luxury private air travel brand with an extensive network in the Middle East, Europe, Africa, and Asia. This collaboration is expected to enhance Sirius’s premium service offerings and network capabilities.
The company aims to establish itself as a leading player in the global private aviation sector by 2028, leveraging its robust fleet and strategic partnerships.
Market Trends and Outlook
Demand for private charters in India is growing rapidly, driven by corporate and lifestyle needs. With its customer-centric approach and ambitious expansion plans, Sirius India Airlines is poised to become a dominant force in the booming private aviation market.
The company plans to secure the USD 100 million by March 2024 and begin implementing its growth strategy by FY 2025-26, aligning with its long-term vision to redefine luxury charter travel.
