enters Indian market
Mumbai, March 19, 2008 (IANS)
Buffet-promoted private jet company NetJets is entering India to
tap the fast-growing market here, said its executive vice president
Graeme Weston. NetJets, which sells fractional ownership in private
jets to individuals and companies, has a fleet of 751 aircraft including
Hawker 400XP, Gulf stream and Boeing Business jets. India's total
air passenger traffic is forecast to grow at nearly 20 percent annually
over the next two years with a demand for private aviation.
$205,454, an individual or a firm can have a light weight private
jet, in which he can fly up to 25 hours for a 12-month period and
for $4,50,000 they can have a large jet for the same period,"
said Ashish Chordia, who represents luxury brands such as Porsche,
Fendi and Van Cleef in India.
India, wealth creation is taking place at a phenomenal pace. We
have a potential of over 5,000 customers in India. We will offer
business jet services to Indian businessmen and women looking to
travel abroad," Chordia told IANS.
company is also considering its options in the domestic market,
including working with additional local partners. Chordia feels
as fractional aircraft ownership allows individuals and companies
to enjoy all benefits of owning a jet at a fraction of the cost,
it would be an easy task to find its first 100 customers in India.
has been a 400% increase in the number of NetJets business flights
to and from India in the last four years. Every four days an Indian
is flying a Netjets flight," said Robert Dranitzke, director
of marketing for NetJets Europe.
US-based Aerion Corp, which is developing a supersonic business
jet (SSBJ), has received pre-delivery orders from five Indian customers.
The Tata Group's Indian Hotels bought a stake in Singapore-based
Briley Group's BJETS, which also offers fractional ownership in
private jets in India and southeast Asia. The venture has ordered
50 jets worth more than $600 million.
plane maker Embraer is also eyeing the Indian market for business