Jayaswal to fly high with new plane soon

Nagpur: City-based industrialist Manoj Jayaswal will soon get into the league of some leading bizmen of the country who own private jets. Abhijeet Group chief Jayaswal is planning to acquire a Bombardier aircraft, which will cost him a cool Rs 100 crore plus, and park it at Nagpur airport. This would make his business group the first in the region to have its own aircraft.
Sources in the company, which is soon planning a Rs 1500K crore IPO too, say that Jayaswal has set his eyes on a Bombardier Challenger 605 aircraft and it will be delivered in May. A Bombardier aircraft is normally priced around $25 million, which translates to almost Rs 110 crores. One of the preferred business jets, it has the capacity to carry 9 to 12 persons across intercontinental distances.
The Challenger 605 was introduced in early 2006 as an upgrade to the 604 model. It has a high-speed cruise of Mach 0.82 and a 4,010 nautical-mile (7,427km) range.
A top civil aviation ministry official said that the Abhijeet Group has applied for 5,000 square meters land to build a hangar at Nagpur airport. The monthly rent for it would be Rs 3 lakh. The company has applied for the huge piece of land as it plans to buy another aircraft and a helicopter soon.
The application for land at the airport, run by of the Mihan India Private Limited, has been made in the name of Abhijeet Projects which is engaged in setting up infrastructure for the group's ventures, including power plants in Jharkhand and Bihar.
25/04/11 Shishir Arya/Times of India

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Categories: Indian Aviation- In General Apr 2011