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<!--OBM V1.0 (01-01-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2024-05-31/in-capmkt" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Announcements_Pertaining_To_Outcome_Of_Board_Meeting/2024-05-31/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="https://www.sebi.gov.in/xbrl/2024-05-31/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2024-05-31.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SKYWAYS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-05</xbrli:startDate><xbrli:endDate>2026-09-05</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SKYWAYS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-05</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="DividendD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SKYWAYS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-05</xbrli:startDate><xbrli:endDate>2026-09-05</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="DividendI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SKYWAYS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-05</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">SKYWAYS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">SKYWAYS AIR SERVICES LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfAnnouncementOfBoardMeeting contextRef="MainD">New</in-capmkt:TypeOfAnnouncementOfBoardMeeting><in-capmkt:FirstEventOfBoardMeeting contextRef="MainD">Dividend</in-capmkt:FirstEventOfBoardMeeting><in-capmkt:DateOfReport contextRef="MainI">2026-09-05</in-capmkt:DateOfReport><in-capmkt:WhetherPriorIntimationOfBoardMeetingConsideringInterimOrFinalDividendGivenToStockExchange contextRef="DividendI">false</in-capmkt:WhetherPriorIntimationOfBoardMeetingConsideringInterimOrFinalDividendGivenToStockExchange><in-capmkt:NotesForPriorIntimationOfBoardMeetingConsideringInterimOrFinalDividendNotGivenToStockExchange contextRef="DividendI">The company considered the declaration of the final dividend at its Board Meeting held on 26 June 2026 and as on that date company was not required to give prior intimation, since company was unlisted company and subsquently got listed on 01st September 2026.</in-capmkt:NotesForPriorIntimationOfBoardMeetingConsideringInterimOrFinalDividendNotGivenToStockExchange><in-capmkt:DateOfBoardMeetingConsideringDeclarationOfInterimOrRecommendationOfFinalDividend contextRef="DividendI">2026-06-26</in-capmkt:DateOfBoardMeetingConsideringDeclarationOfInterimOrRecommendationOfFinalDividend><in-capmkt:StartTimeOfBoardMeetingForAnnouncementOfDividend contextRef="DividendD">21:35:00</in-capmkt:StartTimeOfBoardMeetingForAnnouncementOfDividend><in-capmkt:EndTimeOfBoardMeetingForAnnouncementOfDividend contextRef="DividendD">22:30:00</in-capmkt:EndTimeOfBoardMeetingForAnnouncementOfDividend><in-capmkt:WhetherDeclarationOfInterimDividendOrRecommendationOfFinalDividendApprovedByTheBoard contextRef="DividendD">Yes</in-capmkt:WhetherDeclarationOfInterimDividendOrRecommendationOfFinalDividendApprovedByTheBoard><in-capmkt:FirstTypeOfDividend contextRef="DividendD">Final</in-capmkt:FirstTypeOfDividend><in-capmkt:RateOfFinalDividendRecommendedPerEquityShare contextRef="DividendI">0.065</in-capmkt:RateOfFinalDividendRecommendedPerEquityShare><in-capmkt:WhetherRecordDateOrBookClosureBeenFixedForFinalDividend contextRef="DividendI">true</in-capmkt:WhetherRecordDateOrBookClosureBeenFixedForFinalDividend><in-capmkt:RecordDateOrBookClosureDateForFinalDividend contextRef="DividendD">Both</in-capmkt:RecordDateOrBookClosureDateForFinalDividend><in-capmkt:RecordDateOfFinalDividend contextRef="DividendI">2026-09-23</in-capmkt:RecordDateOfFinalDividend><in-capmkt:StartDateOfBookClosureDateOfFinalDividend contextRef="DividendI">2026-09-24</in-capmkt:StartDateOfBookClosureDateOfFinalDividend><in-capmkt:EndDateOfBookClosureDateOfFinalDividend contextRef="DividendI">2026-09-30</in-capmkt:EndDateOfBookClosureDateOfFinalDividend><in-capmkt:WhetherDateOfGeneralMeetingIsFixedForThePurposeOfFinalDividend contextRef="DividendI">true</in-capmkt:WhetherDateOfGeneralMeetingIsFixedForThePurposeOfFinalDividend><in-capmkt:NotesForDateOfGeneralMeetingIsNotFixedForThePurposeOfFinalDividend contextRef="DividendI">NA</in-capmkt:NotesForDateOfGeneralMeetingIsNotFixedForThePurposeOfFinalDividend><in-capmkt:DateOfGeneralMeetingForFinalDividend contextRef="DividendI">2026-09-30</in-capmkt:DateOfGeneralMeetingForFinalDividend><in-capmkt:ProposedDateWithinWhichPaymentOfFinalDividendShallBeMadeByTheCompanyForWhichGeneralMeetingDateHasBeenFixed contextRef="DividendI">2026-10-29</in-capmkt:ProposedDateWithinWhichPaymentOfFinalDividendShallBeMadeByTheCompanyForWhichGeneralMeetingDateHasBeenFixed><in-capmkt:PeriodForWhichFinalDividendIsDeclared contextRef="DividendI">Financial year 2025-26</in-capmkt:PeriodForWhichFinalDividendIsDeclared></xbrli:xbrl>
