Private jet demand increasing in corporate India

Mumbai: Shuffling between cities and visiting remote locations has become easier for corporate India that has turned towards executive jets to ferry them whenever and wherever they want. "India has realized a 46 percent increase in registered private jets in the past 36 months," Justin Lee Firestone, Group Managing Director, Firestone Management, which recently came out with a bi-annual report on Indian aviation said, as per an IANS report.
Though small in number, the niche is witnessing a boom, thereby attracting all major aircraft manufacturers to India. Firestone added "The growth opportunity for private jet manufacturers to deliver their products into India is tremendous.”
The report says that India currently has a total of 136 private jets made by global aircraft manufacturers like Hawker Beechcraft, Cessna, Bombardier and Gulfstream. The spurt in demand of these technologically advanced and luxurious aircraft is the realisation of an unmet demand and current travel needs of the industry, said Amber Dubey, Director for Aerospace and Defence with global consultancy KPMG.
"With the demand for business travel on the rise, corporate sector and high-net individuals have started to realise the benefits of owning an executive jet. It saves time and gives hassle-free travel," added Dubey. Dubey further foresees the demand for the executive jet sector to be on the higher side in the coming three-to-four years. Currently, private jets' range varies from around USD 4 million to USD 58 million.
The owners' club includes like DLF's KP Singh, Raymond's Gautam Singhania, Reliance Group's Mukesh Ambani and GMR group's GM Rao. According to the official data by the Directorate General of Civil Aviation (DGCA), the private jet fleet in the country is around 135 out of a total of 1,146 aircraft.
30/04/11 TravelBizMonitor

To Read the News in full at Source, Click the Headline

Categories: Indian Aviation- In General May 2011