New Delhi: The country could see an addition of over 1,000 business jets at an estimated cost of $12 billion in the next 10 years from the current 550 such aircraft, which are owned by individuals or corporate houses. At the moment, China, with about 1,000 business jets, has the largest number of private jets in the continent.
“The business aviation industry is growing at an encouraging rate (about 12 per cent) and India is all set to be the third largest aviation market by 2020. Considering the immense potential India has, it will soon be one of the largest markets for private aircraft in the subcontinent,” Rohit Kapur, president of Business Aircraft Operators Association, told Tehelka.
According to Kapur, business jets are not new to India, but their demand is limited to business houses.
On the other hand, about 67 per cent of Fortune 500 companies use private jets.
“Companies across the world these days want to stick to their own schedule rather than plan their trip according to an airline’s schedule. This not only allows flexibility to the officials but also helps them to manage their time better,” Kapur said.
According to Farok Sarkari, head of oss Aviation, two years ago one of India’s largest industrial houses had also forayed into the business of corporate jets, but because of several government restrictions and infrastructure bottlenecks, it exited the business. It sold its aircraft to a charter jet operator.
08/11/11 Samiran Saha/Tehelka
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