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TrueNoord Leases Two ATR 72-600 Aircraft to Indian Regional Airline FLY91

TrueNoord Strengthens Indian Market Presence with ATR 72-600 Leases to FLY91
Specialist regional aircraft lessor TrueNoord has expanded its footprint in India by delivering two ATR 72-600 aircraft on long-term operating leases to Just Udo Aviation Private Limited, which operates under the brand FLY91. The first aircraft, bearing manufacturer serial number (MSN) 1233, was delivered in late December 2023 and is already in active service. The second aircraft, MSN 1236, joined the fleet in mid-January and is scheduled to commence operations shortly.
One of the turboprops will be stationed in Goa, the headquarters of FLY91, while the other is expected to operate from Hyderabad. This strategic deployment supports FLY91’s objective of connecting underserved Tier 2 and Tier 3 city pairs across India, aligning closely with the government’s UDAN initiative aimed at enhancing regional connectivity.
Strategic Partnership and Fleet Expansion
Manoj Chacko, Managing Director and CEO of FLY91, highlighted the significance of the collaboration with TrueNoord, stating that it provides the airline with the flexibility to scale its fleet in a disciplined manner that aligns with market demand and long-term regional growth plans. He emphasized the ATR 72-600’s reputation for reliable and efficient operations across FLY91’s network and expressed satisfaction in expanding the airline’s portfolio of leasing partners by welcoming TrueNoord as a key contributor to its growth trajectory.
The transaction involved a sale and leaseback arrangement for MSN 1233 with FLY91, while MSN 1236 was acquired from Danish Air Transport (DAT) and leased back to the Indian carrier in a back-to-back deal. Abhineet Awasthi, Commercial and Transaction Manager at TrueNoord, praised FLY91’s customer-focused and agile approach, noting their transparent and pragmatic leadership throughout the engagement and delivery process. He affirmed TrueNoord’s commitment to supporting FLY91’s expansion plans.
This delivery marks a significant milestone in FLY91’s ambition to grow its fleet to 30 aircraft by 2029. It also represents TrueNoord’s third customer in India, further consolidating the lessor’s presence in a rapidly growing regional aviation market.
Market Dynamics and Industry Challenges
Despite the positive momentum, the regional aircraft leasing sector continues to face challenges, including supply chain constraints that impact timely deliveries and fleet reliability. Recent industry developments, such as Airlink’s acquisition of Embraer E-190 aircraft for spare parts, underscore the complexities lessors like TrueNoord must navigate.
Market responses have reinforced the suitability of ATR turboprops for India’s domestic routes. ATR’s CEO recently highlighted the vast potential of the Indian aviation market, with the manufacturer recording 30 turboprop sales since January, reflecting robust demand across the Asia-Pacific region. This growth has prompted competitors to promote regional jets as alternatives, seeking to capture a share of the expanding market as ATR pursues further expansion.
Anne-Bart Tieleman, CEO of TrueNoord, remarked on the accelerating pace of India’s regional aviation sector, driven by strong demand in Tier 2 and Tier 3 markets and supportive government policies. He noted that airlines are increasingly seeking aircraft capable of rapid deployment, operation from smaller airports, and delivering low trip cost economics. TrueNoord positions itself as a provider of tailored solutions to meet these evolving market needs.
As the regional aviation landscape in India continues to evolve, the partnership between TrueNoord and FLY91 highlights both the opportunities and challenges inherent in meeting the country’s growing demand for efficient and reliable regional air services.

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