Private planes return to corporate radars

Mumbai: Business aviation, or the use of private planes and helicopters by companies, is rebounding as economic recovery shows signs of being sustained and firms that provide such facilities return to profitability.
Companies, both large and small, are resuming talks with corporate jet manufacturers as prices of private jets have come down by 40%-45% from their 2008 levels.
“Ever since this new year, there is lot of buzz in the Indian business aviation scene,” said Karan Singh, vice-president of the Business Aviation Association of India.
“Indian companies could conclude many deals before this month-end and the sector is expecting a year-on-year growth of 15-20%,” he told Mint last week.
Religare Voyages Ltd, promoted by Religare Enterprises Ltd, has announced it will start an international air ambulance service with a private jet after obtaining regulatory approvals. “We had stopped acquisitions when the slowdown hit the economy. Now we are restructuring our business model to tap all opportunities of business aviation,” said Sanjay Godhwani, group chief executive and managing director of Religare Voyages, adding that a few business announcements were in the offing.
Taj Air, promoted by Taj Hotels Resorts and Palaces, has bought two private planes recently—a Falcon 2000LX jet and a P180 Avanti II turboprop aircraft.
And at India Aviation 2010, the second international conference on civil aviation in Hyderabad earlier this month, aircraft and helicopter makers signed a raft of deals with Indian firms for their products.
14/03/10 P.R. Sanjai/Live Mint

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Categories: Indian Aviation- In General Mar 2010