Wednesday, August 14, 2019

Netflix of aviation: This startup plans to introduce subscription-based flying

In a first of its kind initiative, a startup based in Delhi plans to start subscriber-based airline services. Named Prince Air, the startup will let customers travel unlimited times on private jets across metros in the country.
Of course, it comes at a price. But, Sanket Raj Singh – the founder of Prince Air – promises to fly members at fraction the cost of hiring a chartered jet.

"We have seen disruptions in taxi service, retail and hospitality. But no one has ever tried to disrupt the aviation industry in India," says Singh, a fashion industry professional helping American and European brands with manufacturing and supply chain solutions.
During his stints overseas, Singh was struck by the disruptions technology was making across sectors. "Air transportation was one where there wasn't any disruption till now," says the entrepreneur.
While Singh is tight-lipped about the monthly subscription rate, he promises it will be a fraction of what it costs to charter jets. As of now, it costs at least Rs 1.5 lakh to charter jets, say from Mumbai to Delhi. Singh promises that Prince Air subscriptions will allow members to fly multiple times at a price a little more than that. "We will bring down the cost of traveling in chartered jets by up to 90 percent," he says.
To start off, the subscription will be limited, and Singh claims he has already filled up a substantial number. "While most of our clientele is corporate, the luxury real estate segment has responded well," says Singh, who is in talks with a couple of high-end real estate players in Mumbai and Delhi.

One of the real estate companies has offered to buy 250 subscriptions, which will be given to buyers of apartments that cost upwards of Rs 5 crore. While Singh shared the names of these real estate companies with this writer, he requested this to be kept confidential till a formal announcement is made.
The service will also include chauffeured luxury cars and stay in five star hotels. "We are close to signing the deal with a well-known hospitality brand based in Mumbai," said Singh.
14/08/19 Prince Mathews Thomas/Moneycontrol.com

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