Jet Airways lost, Sanjay Mandavia on course to launch his own new airline

Pilot-turned-airline owner and his partner Biraja Jena, who heads UAE-based fund Imperial Capital, say they are on course to launch FlyBig which has secured 16 routes under Phase-4 of UDAN

Sanjay Mandavia says he now has more time to focus on his regional airline venture, FlyBig.

Despite losing the bid for Jet Airways, the pilot-turned-airline owner Mandavia and his partner Biraja Jena, who is chairman of UAE-based fund Imperial Capital, say they will launch the airline which has secured 16 routes under the fourth phase of UDAN, government’s regional connectivity programme.

The consortium lost out to the consortium of UAE-based entrepreneur Murari Lal Jalan and London-based fund Kalrock Capital.

The FlyBig and Imperial consortium promised Rs 770 crore to lenders and an additional Rs 292 crore as cost of resolution