Uttar Pradesh-based Shankh Air could be the latest entrant into Indian aviation space as it got approval from ministry of civil aviation and awaits clearance from the Directorate General of Civil Aviation (DGCA).
In its approval letter, the ministry emphasized that Shankh Air must comply with regulations regarding Foreign Direct Investment (FDI) and SEBI norms. The No Objection Certificate (NOC) granted to the airline remains valid for three years.
This development comes amid growing competition in India’s aviation sector, as Air India recently gained market share, while SpiceJet and Akasa Air saw decline. Domestic air traffic in August 2024 increased by 5.7 percent year-on-year, reaching 1.31 crore passengers, although it dipped slightly compared to the previous months.
Shankh Air, originating from Uttar Pradesh, is set to become the state’s first scheduled airline, with operational hubs planned in Lucknow and Noida. The carrier will operate a fleet of Boeing 737-800NG aircraft, connecting underserved domestic routes.
The airline, owned by entrepreneur Sharvan K Vishwakarma, has proposed to start flight from the upcoming Noida Airport from October 2025.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.