Fly Sirius (Delhi International) is planning to raise USD100 million through debt and other instruments to finance its expansion to a 50-strong fleet of business jets by March 2028.
Founder and promoter Arun Kashyap (the former chief operating officer of SpiceJet) told Indian media that the funds should be locked up by March 2025. The first ten additional aircraft are tentatively due to join the fleet in 2025. Fleet growth would begin in earnest in the 2026 financial year.
"We are looking at these funds both by way of debt as well as from strategic investors and are in discussions with a bunch of lenders and investors," Kashyap said.
The business charter specialist launched earlier this year and currently operates a single Hawker 4000 based out of Delhi International. Kashyap said that Fly Sirius would target mainly small and midsize business jets, but it also wants to add aircraft capable of operating "group charters". With the expansion of the fleet, the operator will also target international markets in the Middle East and the Far East.
