India Inc says 'jet set go' to fractional ownership

Ever dreamt of flying on a high-speed business jet without buying it? Well, it is very much possible to fly with Hawker Beechcraft, a Cessna or a Falcon as they can be leased on hourly, weekly or monthly basis.
This concept wherein an individual or a corporate firm can hire a eight-10 seater high-speed jet for a limited period is called ‘fractional ownership’ and though it was introduced five years ago in the industry, it is only of late that it has picked up so well at India Inc.
Fractional ownership provides functional advantages of owning your own private aircraft at a fraction of a cost of maintaining an entire aircraft.
“In 2006 when we entered this space, there were hardly takers, but now of the 50 million air travellers, around 3%-5% prefer flying in a corporate jet,” says a spokesperson at Airnetz Aviation, a company that leases helicopters and smaller aircraft to individuals and corporate houses.
An employee of another company called Club One Air also has a decent chunk of corporates from the energy, oil and gas and textile sectors who have membership with them. The cost of such flying could be anything between Rs 60,000-Rs 3,00.000 for an hour.
24/12/11 Moneycontrol.com

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Categories: Indian Aviation- In General Dec 2011