This study discusses the investment plan on pioneer flight business in Indonesia. The purpose of this study is to know the feasibility of investment plan to purchase N-219 aircraft to be implemented by PT Pelita Air Service for pioneer flight business in North Kalimantan. The study is conducted by using capital budgeting method. This research uses quantitative research type with descriptive analysis method and case study approach. The study that is conducted at PT Pelita Air Service shows the result that the investment plan will be feasible to be implemented and can increase the income better. The use of the NPV method indicates that the investment plan resulted in a larger PV Net Cash Flow than PV Initial Investment, which is amounted to Rp 54,721,058,900. Calculation by B/C Ratio method obtained result of 1,11, and through IRR method obtained result of 19,03%, bigger than rate of return which is wanted by company that is equal to 6,5%. Calculation by payback period method shows that the payback period is shorter than the maximum payback period from the investment, which is 3 years 5 months 10 days. On the use of ARR method obtained result of 10%, it has exceeded the expected rate of return by the company which is equal to the return of bank deposits in 1 year. Sensitivity analysis indicates that the subsidy decline is very influential on the feasibility of investments that is made.