New Delhi: Nothing deters this party in the skies. Neither fuel price hikes nor knocks from tax officials. The private jet party is geared to get even bigger, given the entry of about 22 jets into the Indian skies in the last seven months, pegging the number of private jets at around 250 as of July 2008.
While the crowd has become larger, the aerial havens are still the domain of multi-millionaire businessmen. And the new trend seems to be a distinct fascination for smaller aircraft such as Kings Airs, turbo props, high performance jets, CRJs, Hawkers and Very Light Jets (VLJs).
Industry experts, in fact, predict the entry of a greater number of VLJs into India. Available at $1.5 million, these jets have a seating capacity of 2-4 people and could very soon be the substitute of a car for the rich. "The low price makes it a good entry point, especially considering the fact that the jets are generally priced anywhere between $20-120 million. These jets are likely to stir a me-too attitude in people," says Ankur Bhatia, executive director of Bird Group.
About three operators in India have announced either the arrival or the decision to buy the VLJs in 2008. Officially, however, VLJs are still at a very nascent stage in India, as director general civil aviation Kanu Gohain points out.
Greater interest has been expressed in the turbo props considering the fact that they are up to 30% more fuel efficient than jet engines and better for short-haul flights.
Overall, the number of aircraft with the non-scheduled operators increased from 183 in 2006 to 229 in 2007, registering a growth of 25%. And the buying spree continues.
24/08/08 Lisa Mary Thomson/Economic Times
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