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Civil Aviation

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Civil Aviation
#46
India Inc to buy a jet every 3 days

Quote

Sunny Verma NEW DELHI




ONE corporate jet every three days. That’s what Indian companies are expected to buy for the next three years, taking the total number of corporate jets in India to 450 from 150 at present. And joining the league of established corporate jet setters, like the Tatas and Birlas, are firms such as Videocon, Bharat Forge, GMR Group, Suzlon Energy, TVS Motors, Punj Lloyd, Hindustan Construction, DS Construction and DLF Group.
In the last one year, the Directorate General of Civil Aviation has given its approval to about 70 Indian companies to buy around 100 corporate jets. And these numbers are going to grow. “Indian companies are likely to buy over 300 corporate jets in the next three years,” a civil aviation ministry official told ET. Apart from the new entrants, corporate houses like Reliance, Raymond and UB Group, which already have corporate jets, are likely to add to their existing fleet of jets and helicopters.
The flexibility that a privately owned jet offers to go anywhere anytime is the primary reason driving demand. But apart from convenience, owning a corporate jet also signifies status. “ The Indian entrepreneur today has reached a global level where value of time is paramount. And machine like corporate jets definitely enable one to act and decide faster,” Aerostar Aviation CEO AJS Walia said.
A corporate jet may cost anywhere between Rs 25 crore to Rs 225 crore, depending upon it’s functions and features such as whether it's single engine or twin engine. “The jets may also be customised to customers’ needs with additional fitments. For instance, if you pay more, you can buy a jet fitted with a customised office, corporate seating, DVDs and much more,” said an industry source.
The new corporate jets that have been ordered by Indian companies include Gulfstream, Bombardier Global Express, Citation XL, Embraer Legacy, Beechcraft, Falcon, and Airbus and Boeing corporate jets.
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Civil Aviation - by Guest - 11-19-2005, 02:57 AM
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Civil Aviation - by agnivayu - 11-24-2005, 05:48 AM
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