Private flying was once considered a niche reserved for the ultra-rich, but the perception is slowly changing. Today, the private flying market is catered to by over 700 aircraft—including over 165 jets with the capabilities to fly international—which fly close to 48,000 domestic hours and 8,000 international hours annually, according to Rajeev Wadhwa, CEO & chairman, Baron Luxury and Lifestyles Pvt Ltd.
“The general aviation market in India is currently rebounding from the 2008 US sub-prime crisis, though the exact revival point is expected around 2015”, says Wadhwa.
“During 2008, it was estimated by the big three consultancies and CAPA that the private flying industry would garner $16 billion worth of inventory, including private jest and helicopters, in between 2008 and 2018. This included close to 450 helicopters and 300 jets orders. However, it is highly unlikely that these figures will be achieved”, he says.
“The tanking of the rupee against the dollar and the uncertain political climate have stalled several aircraft orders. But 2015 is expected to bring some sort of stability as the upcoming general election would indicate the next government and its economic policies”, he adds.
05/02/14 Rhik Kundu/Financial Express
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“The general aviation market in India is currently rebounding from the 2008 US sub-prime crisis, though the exact revival point is expected around 2015”, says Wadhwa.
“During 2008, it was estimated by the big three consultancies and CAPA that the private flying industry would garner $16 billion worth of inventory, including private jest and helicopters, in between 2008 and 2018. This included close to 450 helicopters and 300 jets orders. However, it is highly unlikely that these figures will be achieved”, he says.
“The tanking of the rupee against the dollar and the uncertain political climate have stalled several aircraft orders. But 2015 is expected to bring some sort of stability as the upcoming general election would indicate the next government and its economic policies”, he adds.
05/02/14 Rhik Kundu/Financial Express
