01-31-2007, 07:32 AM
India Inc to buy a jet every 3 days
Quote
Sunny Verma NEW DELHI
ONE corporate jet every three days. Thatâs 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. âIndian companies are likely to buy over 300 corporate jets in the next three years,â 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. â 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,â Aerostar Aviation CEO AJS Walia said.
A corporate jet may cost anywhere between Rs 25 crore to Rs 225 crore, depending upon itâs functions and features such as whether it's single engine or twin engine. âThe jets may also be customised to customersâ 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,â 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.
Unquote
Quote
Sunny Verma NEW DELHI
ONE corporate jet every three days. Thatâs 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. âIndian companies are likely to buy over 300 corporate jets in the next three years,â 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. â 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,â Aerostar Aviation CEO AJS Walia said.
A corporate jet may cost anywhere between Rs 25 crore to Rs 225 crore, depending upon itâs functions and features such as whether it's single engine or twin engine. âThe jets may also be customised to customersâ 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,â 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.
Unquote