This article is based on an official press release from United Aircraft Corporation (UAC).

UAC Signs Preliminary Deal with Indian Startups Flamingo Aerospace for Il-114-300s

Russia’s United Aircraft Corporation (UAC) has announced the signing of a preliminary agreement with Flamingo Aerospace Private Limited, an Indian entity based in Hyderabad. The deal, formalized during the “Wings India 2026” exhibition, outlines a roadmap for the supply of six Ilyushin Il-114-300 regional turboprop Commercial-Aircraft, with Deliveries projected to commence in 2028.

According to the official statement from UAC, the agreement establishes a long-term strategic Partnerships aimed at bolstering regional connectivity under India’s UDAN scheme. The collaboration is structured to evolve from direct aircraft supply to the eventual localization of manufacturing capabilities within India.

Agreement Structure and Roadmap

The preliminary agreement details a phased approach to introducing the Russian-made turboprops into the Indian market. UAC representatives indicated that the partnership is designed to align with the “Make in India” initiative through gradual technology transfer and infrastructure development.

Phased Implementation

• Phase 1: The supply of six fully assembled Il-114-300 aircraft. Alternatively, these may be delivered as “green” aircraft to be outfitted with interiors and avionics in India.
• Phase 2: The establishment of Maintenance, Repair, and Overhaul (MRO) capabilities within India to support the fleet.
• Phase 3: A long-term goal to localize assembly and manufacturing components, deepening the industrial cooperation between the two nations.

While the financial value of the deal was not disclosed in the press release, industry data suggests the domestic pricing for the Il-114-300 ranges between 2.6 and 4 billion rubles per unit. Based on these figures, the face value of the six aircraft could range between $170 million and $250 million USD.

The Il-114-300: Technical Profile

The Il-114-300 is a modernized version of the Soviet-era Ilyushin Il-114, designed specifically for regional routes with difficult operating conditions. It is positioned as a rugged alternative to Western turboprops like the ATR-72 and the De Havilland Dash 8-400.

Key specifications highlighted by UAC include:

• Capacity: 68 passengers.
• Range: Approximately 1,400 km when fully loaded, with a ferry range of up to 5,000 km.
• Operational Flexibility: The aircraft is engineered to operate on short, unpaved, or weak runways, making it theoretically suitable for the underserved airports targeted by the Indian government’s regional connectivity schemes.

The aircraft features the TV7-117ST-01 engine and Avionics systems that UAC describes as “import-substituted,” meaning they are manufactured domestically in Russia to bypass Western sanctions.

AirPro News Analysis: The Flamingo Aerospace Profile

While the agreement promises significant industrial cooperation, a review of public corporate records raises questions regarding the operational scale of the Indian partner. Flamingo Aerospace Private Limited appears to be a relatively new entrant in the aviation sector.

According to data from India’s Ministry of Corporate Affairs, Flamingo Aerospace was incorporated on April 28, 2022, in Hyderabad. The company lists Subhakar Pappula as its Founder and CEO. Financial filings for the fiscal year ending March 31, 2024, indicate the company had a paid-up capital of approximately INR 100,000 (roughly $1,200 USD) and reported zero revenue.

This disparity between a global aerospace giant like UAC and a micro-cap startup suggests that Flamingo Aerospace may be acting as a Special Purpose Vehicle (SPV) to facilitate the entry of Russian hardware into the Indian market. This structure could allow larger Indian conglomerates to engage with Russian entities while mitigating direct exposure to secondary sanctions risks.

Geopolitical and Strategic Context

This agreement arrives at a time when Russia is aggressively seeking new markets for its aerospace industry, which has been isolated from Western supply chains and customers due to sanctions following the conflict in Ukraine. By partnering with Indian entities, UAC aims to secure a foothold in a “friendly” market that has maintained neutrality.

The deal also coincides with broader discussions regarding the use of the Rupee-Ruble trade mechanism. Due to restrictions on SWIFT and U.S. dollar transactions involving Russian defense entities, payments for these aircraft would likely be settled through Special Rupee Vostro Accounts (SRVA), a system the Reserve Bank of India has simplified to facilitate bilateral trade.

Simultaneously, reports indicate UAC is pursuing a separate agreement with Hindustan Aeronautics Limited (HAL) regarding the Sukhoi Superjet (SJ-100), suggesting a coordinated push to integrate Russian civil aviation products into India‘s growing transport network.

Sources: United Aircraft Corporation (UAC) Press Release, Ministry of Corporate Affairs (India), FlightGlobal.

This article is based on an official press release from Aviation Capital Group.

Aviation Capital Group Delivers First of Seven Boeing 737 MAX 8s to T’way Air

Aviation Capital Group (ACG) has officially announced the delivery of a new Boeing 737 MAX 8 to South Korean carrier T’way Air. The handover, confirmed on January 29, 2026, marks the first aircraft to be delivered as part of a seven-aircraft mandate scheduled for completion throughout the year. This delivery underscores a deepening partnership between the Tokyo Century Corporation subsidiary and the evolving Korean airline.

According to the official statement from ACG, the remaining six aircraft in this specific agreement are slated for delivery over the remainder of 2026. The influx of new narrowbody jets comes at a pivotal moment for T’way Air, which is currently undergoing significant structural and operational changes following recent ownership shifts.

Strengthening Regional Connectivity

The delivery highlights the continued demand for fuel-efficient narrowbody aircraft in the Asia-Pacific market. ACG, a premier global full-service aircraft asset manager, views this transaction as a key component of its support for regional growth. The lessor noted that these aircraft are essential for T’way Air’s strategy to connect South Korea with high-demand destinations across the region.

In the company’s press release, Tom Baker, CEO and President of ACG, emphasized the strategic importance of this mandate:

“The seven 737 MAX 8s to be leased by ACG to T’way during 2026 will support the airline’s strategy to sustainably connect South Korea to the Asia/Pacific region, one of the world’s fastest growing aviation markets.”

The Boeing 737 MAX 8 is designed to offer enhanced environmental performance, a critical factor for operators facing stricter sustainability targets. Powered by CFM International LEAP-1B engines, the aircraft delivers a 20% reduction in fuel use and carbon emissions compared to the Next-Generation 737s it replaces. Additionally, the aircraft features a 50% smaller noise footprint, offering operational cost savings through reduced airport fees.

Strategic Context: T’way Air’s Transformation

While the ACG press release focuses on the immediate delivery, broader industry reports indicate that this fleet expansion is part of a larger corporate transformation for T’way Air. Following the acquisition of a controlling stake by Daemyung Sono Group in 2025, the airline is reportedly preparing for a major rebranding effort.

Rebranding to Trinity Airways

According to corporate filings and market analysis, T’way Air is expected to rebrand as “Trinity Airways” in the second half of 2026. This shift aims to reposition the carrier from a traditional low-cost carrier (LCC) to a “hybrid” service model. The new ownership group, a major player in the South Korean hospitality sector, intends to integrate the airline’s services with its resort and travel infrastructure, moving away from a purely budget-focused image.

Fleet Modernization Goals

The seven aircraft from ACG are part of a wider fleet modernization strategy. Industry data suggests T’way Air aims to operate a fleet of 20 Boeing 737 MAX 8s by the end of 2027. These aircraft will primarily serve regional and intra-Asian routes, leveraging their range of approximately 3,500 nautical miles to reach destinations in Southeast and Central Asia efficiently.

Simultaneously, the airline is pursuing a dual-fleet strategy to support long-haul operations. Reports indicate the carrier has secured leases for Airbus A330-900neo aircraft to serve European and North American routes, complementing the narrowbody Boeing fleet.

AirPro News Analysis

The delivery of these 737 MAX 8s represents more than a routine leasing transaction; it is a foundational step in T’way Air’s attempt to move upmarket. By securing fuel-efficient, modern tonnage from a major lessor like ACG, the airline is stabilizing its operational costs ahead of its ambitious rebrand to Trinity Airways.

For ACG, this deal reinforces its position in the Asian market and validates its continued investment in the MAX program. Having finalized an order for 50 additional Boeing 737 MAX jets earlier in January 2026, ACG is demonstrating confidence in the type’s liquidity and demand profile despite historical challenges. The successful placement of these seven aircraft with a transitioning carrier suggests that lessors remain vital partners for airlines undergoing complex corporate restructurings.

Sources:

• Aviation Capital Group Press Release

This article is based on an official press release from Boeing.

Air India Expands Single-Aisle Fleet with Order for 30 Boeing 737 MAX Jets

On January 29, 2026, Air India finalized a firm orders for 30 additional Boeing 737 MAX aircraft. The deal, which exercises previously held options, includes 20 of the standard 737-8 model and 10 of the larger 737-10 model. This strategic acquisition is designed to bolster the airline’s domestic and regional network as it continues its transformation under Tata Group ownership.

According to the official announcement from Boeing, the order finalizes 10 737-10s that were previously listed as “unidentified” on the manufacturer’s orders and deliveries website. The agreement brings Air India’s total backlog with Boeing to nearly 200 aircraft, a mix that includes both single-aisle jets for domestic growth and widebody aircraft for international expansion.

The move underscores the carrier’s aggressive strategy to capture a larger share of India’s booming aviation market, currently dominated by low-cost carrier IndiGo. By locking in delivery slots for these fuel-efficient jets, Air India aims to increase frequency on metro routes and expand into Tier-2 and Tier-3 cities.

Breakdown of the Order

The purchase is split between two distinct variants of the 737 MAX family, each serving a specific operational role within Air India’s network strategy. All 30 aircraft will be powered by CFM International LEAP-1B engines, which offer a 15-20% improvement in fuel efficiency compared to previous-generation aircraft.

The 737-8 and 737-10 Variants

The majority of the order consists of 20 Boeing 737-8 jets. This variant is widely regarded as the core of the MAX family, offering a balance of range and capacity suitable for high-frequency domestic and short-haul regional routes. With a range of approximately 3,550 nautical miles, the 737-8 provides the versatility needed for Air India’s diverse route map.

The remaining 10 aircraft are the 737-10 model, the largest variant in the MAX family. According to Boeing, this aircraft is designed to carry more passengers at the lowest cost per seat among single-aisle aircraft. The 737-10 can seat up to 230 passengers in a single-class configuration, though Air India is expected to deploy a two-class layout carrying between 188 and 204 passengers.

“This additional order for 30 Boeing 737 aircraft is part of our broader fleet strategy to position Air India firmly for the future, as a world-class global carrier that India deserves and the world expects.”

, Campbell Wilson, CEO & MD, Air India

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Strategic and Financial Context

While the list price for the deal is estimated at approximately $3.8 billion based on 2025 estimates, with the 737-8 valued around $121.6 million and the 737-10 at $135.9 million, industry standard discounts mean the actual transaction value is likely significantly lower. Market estimates suggest the real value of a new 737-8 is closer to $55 million.

Delivery and Certification

Deliveries for these aircraft are scheduled to remain steady over the next few years. A key component of this timeline is the certification of the 737-10. As of January 2026, Boeing is in the final stages of certifying the variant, with entry into service expected to follow shortly after. This would make Air India one of the first operators to introduce the -10 variant into the Indian market.

AirPro News Analysis

This order represents a shift from immediate recovery to long-term capacity planning for Air India. The Indian aviation market is effectively a duopoly, with IndiGo holding a commanding 63-65% market share and the Air India Group (including Air India Express and Vistara) holding approximately 26-27%. To compete effectively, Air India must match IndiGo’s scale and cost efficiency.

The selection of the 737-10 is particularly notable. By opting for the largest variant, Air India is prioritizing seat-mile economics on trunk routes (such as Delhi-Mumbai), where slot constraints limit the ability to simply add more flights. The 737-10 allows the airline to maximize revenue per departure, a critical advantage in slot-constrained airports. Furthermore, the decision to exercise options now ensures Air India retains access to delivery slots in a supply chain that is heavily constrained globally.

Frequently Asked Questions

Is this a new order?
Technically, no. This deal represents the exercise of existing options from previous agreements. The 10 737-10s were previously listed as “unidentified” on Boeing’s books.

When will passengers see these planes?
Deliveries are expected to be steady over the next few years. The 737-10 is expected to enter service following its certification, which is anticipated in 2026.

Why did Air India choose the 737-10?
The 737-10 offers the lowest cost per seat of any single-aisle Boeing jet. It allows Air India to carry more passengers on high-demand routes without adding more flights, which is vital for profitability on dense domestic sectors.

Sources

• Boeing