Executive jet industry is flying high

Mumbai: With the number of high net worth individuals in India rising, so too is the number of private jets being acquired by companies as well as some individuals.
According to the Ministry of Civil Aviation data, in 2010 alone, more than 10 corporate houses sought permission to acquire middle to large sized jets for “private use”.
Mahindra and Mahindra, Jaiprakash Associates Ltd, Ashok Leyland and TVS Motors, Jindal Steel and Power Ltd, JSW, Crompton Greaves, Joy Alukkas, Tata Steel and Reliance Transport and Travel are among those making a beeline to the Ministry seeking clearance to import private jets.
The manufacturers point out that acquiring these jets actually makes sound business sense as they help pack in more into a working day.
The Regional Vice President, Asia/Pacific, Gulfstream, Mr Jason Akovenko, pointed out that the country's private-jet market is buoyed by the country's economic growth and expanding business interests, both in India and abroad.
Brazilian jet manufacturer, Embraer sees both challenges and opportunities here.
“..Infrastructure supporting the business jets industry is one of the major concerns, specifically Fixed-Base Operators, private jets terminals, access, flight permits and other such issues,” said Mr Jose Costas, Vice-President of Embraer Executive Jets for Asia Pacific.
28/12/10 Debabrata Das/Business Line

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Categories: Indian Aviation- In General Dec 2010, New Dec 2010