NEW DELHI: Pawan Hans has firmed up plans to launch regional flights with fixed wing aircraft , including seaplanes, even as the state-owned helicopter operator prepares for an initial public offering that may happen next year or the year after that.

Maintenance, repair and overhaul (MRO) services and development of helipads and heliports are other areas where the company is aiming to enter as part of its diversification push, Chairman BP Sharma told ET in an interview.

The IPO, to meet the company's fund requirement for expansion and modernisation of fleet, could happen during 2017 or 2018, he said. It is also considering raising funds from institutions.

The new civil aviation policy proposed by the government seeks affordable air connectivity to small cities and towns. Under the plan, fares will be set at Rs 2,500 per hour or flight, and the rest will be funded through a subsidy. Pawan Hans plans to take on lease three aircraft with around 18-20 seats to operate on the regional routes that will attract the government subsidy.

While the company expands into new segments, it is also finalising a plan to consolidate its market position with a fleet of 100 aircraft — helicopters and fixedwing aircraft - by 2027.
Pawan Hans currently has 43 helicopters and plans to acquire 58 more by 2027. During the same time, it will also dispose of 26 helicopters. "The finalisation of the business plan to make Pawan Hans a 100 aircraft operator by 2027 is in the final stages," added Sharma.

Pawan Hans is constructing the country's first heliport at Rohini in northwest Delhi that is likely to be operationalised by the end of this month.

"We are working to develop four heli-hubs along with the concept lines of the airporthubs. These heli-hubs will be a one-point solution for the helicopter business and will act as a helipad or heliport for public passenger services, MRO facility for helicopter maintenance and also as a skill development centre for training of pilots, AMEs (aircraft maintenance engineers) and technicians," said Sharma.

The Rohini heliport will consist of a terminal building with capacity for 150 passengers, four hangers with parking capacities for 16 helicopters and nine parking bays.