India's private planes and helicopters take off again

If you want to see some of India's most powerful and influential businessmen, head over to the private helicopter pad at the Mahalaxmi Race Course in Mumbai.
While standing outside in the 30-degree heat, waiting for our own helicopter to arrive, we see the likes of Anil Ambani and Gautam Singhania whisk past, hurriedly ferried on and off their helicopters.
The combined net worth of these two Indian businessmen alone is $15bn, roughly equivalent to the economic output of Ghana.
According to the latest industry reports, the frequency of private planes or helicopters taking off has gone up significantly over the past few months.
Many in the industry are now expecting year-on-year growth of up to 20%.
Mr Pradeep Thampi is among those who are optimistic about the future again.
Sporting dark glasses and a serious demeanour, the well-suited, grey-bearded businessman has worked in the industry for 16 years.
His company, Executive Airways, runs a fleet of over 15 aircraft, chartering out private jets and helicopters to companies and individuals.
"Most of my aircraft were grounded during the recession as companies stopped spending altogether. It was a really bad time. But suddenly in the last couple of months, there has definitely been a change. Companies are spending again and there's definitely been an increase in demand for our services."
The starting rate for an hourly rental of one of his aircraft is about 80,000 rupees, roughly $2,000.
According to some reports, prices across the industry were reduced as much as 40%.
Experts agree that this is one of the reasons why demand has picked up, but there are other factors at play as well.
The aviation industry's growth is typically pegged to a country's economic growth.
With India's economy now returning to higher growth levels - the Government is forecasting GDP growth of around 8.5% for the financial year 2010-2011 - it is not surprising that the industry has also received a boost.
26/03/10 Delnaaz Irani/BBC

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Categories: Indian Aviation- In General Mar 2010