Fractional Ownership News

Fractional jet ownership on the rise in India

Corporate fractional jet and helicopter ownership is witnessing significant growth in India, as the country’s economy continues its expansion. A spokesperson at Airnetz Aviation, a company that leases helicopters and smaller aircraft to individuals and corporate houses, said this week: “In 2006 when we entered this space, there were hardly any takers, but now of the 50 million air travellers, around three to five per cent prefer flying in a corporate jet.”

Another Indian company, Club One Air, has a client base from the energy, oil and gas and textile sectors, who have fractional ownership deals with them, flying at rates of between Rs 60,000-Rs 3,00.000 per hour.

A recent report by Ketki Mahajan, research associate, aerospace and defence practice at Frost & Sullivan, says: “India is one of the strongest markets for private jets with strong economic growth, expanding business interests and increasing number of billionaires.”

The report said that the private jet market in India constitutes 12 per cent of the global market and is bigger than the markets in China and Japan. India has 140 private jets in Asia, compared with China's 93 and Japan's 76; and this number is expected to double by 2020.


Amber Dubey, director (aviation) at KPMG told moneycontrol.com: “With the economy booming and private industry flourishing, private jets have become a regular mode of transport for corporate chiefs. Companies who have a turnover of Rs 10,000-20,000 crore can buy a jet which costs anything between Rs 200-Rs 300 crore but for the rest of the Indian Inc, leasing it as and when need arises is appropriate.”

Fractional Life is a sponsor for a forthcoming shared ownership conference in Mumbai. For more information and to book tickets, click here.

03/01/12

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