Indian billionaires queue up for more private craft

New Delhi: Around a billion dollars’ worth of new private aircraft are expected to land here over the next one year — 157 of them at last count, according to the ministry of civil aviation data.
When inducted, these planes will catapult this country to fourth position in the world market for corporate jets, according to industry estimates. India is currently the 18th largest base for corporate jets, with 111 registered mini planes. In that respect India is, in fact, much ahead of China, which has just about half the number of corporate jets though it has more billionaires!
Leading the Indian pack of high-flying billionaires, or companies promoted by them, are the Ambani brothers — who have both ordered jets of the same make — the Tatas, the Ruias’ Essar Group, TVS, KP Singh’s DLF, Gautam Thapar, the Jindals and Cyrus Poonawala. They are joined by GMR and GVK, the Jajodias’ Monnet, DS Construction, Punj Lloyd and Deccan Chronicle and others — all driven by the resurgence in business confidence and robust earnings over the past year.
And they are aiming for new aircraft rather than used planes.
18/08/10 Chanchal Pal Chauhan/Economic Times

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Categories: Indian Aviation- In General Aug 2010