The year 2013 witnessed very weak sentiments for business jets as only six to seven aircraft were imported to India. These deliveries took place on earlier orders and there were almost no new orders placed by Indian players. This is because of the weakening of real estate and mining sectors, as well as depreciation in Rupee, said Siddhanta Sharma, President and CEO, InterGlobe Air Transport.
The Estd, a subsidiary of the InterGlobe, however, managed to secure orders for two business jets in 2013, of which one was already delivered, and expect to get orders for five to six aircraft in 2014-15, he added. The Estd. represents some of the world’s leading aircraft-makers in India such as Cessna Aircraft Company, Sikorsky Aircraft Corporation, and LET Aircraft Industries. The company’s association with the world’s leading brands allows it to offer customers a wide range of products to suit their specific requirements.
According to an estimate, India is one of the strongest markets for private jets, with strong economic growth, expanding business interests and increasing number of billionaires. The private jets market in India constitutes 12 per cent of the global market and is bigger than Asian markets in China and Japan. India has the maximum number of private jets in Asia, around 140 against China’s 93 and Japan’s 76; this is expected to double by 2020. As per the Business Aviation Association of India, there are 680 business aviation aircraft including private jets, helicopters, turboprops and piston engines and this number is expected to reach 2,000 by 2020.
Talking about the current scenario of business aviation industry in India, he said that 585 aircraft, including 200 helicopters, are registered with the DGCA under non-schedule airline category. He also pointed out some challenges that the industry is facing. “In the absence of a clear policy framework, the growth of India’s business and general aviation which is growing at double digits every year has been slower due limited infrastructure, regulatory hurdles and high taxation. “Besides, there is limited parking and hangar space for general aviation,” he said and added that Mumbai airport’s landing charge Rs. 3 lakh per landing. The custom duty of business jets is 20 percent. These factors are discouraging the growth, and an alternative airstrip is needed that can make the operation of business jets financially viable, he added.
