If owning a business jet seems tough, the other business mode that has worked in the west is fractional jet ownership. A company or individual buys, or leases, a fractional interest in one aircraft just as they might acquire a partial interest in one condo unit. The concept is still new in India. The future of business aviation in India lies in product innovation. With the growth of wealth, wealth generators and HNIs in India customized solutions that create access for more customers to a fleet of aircraft with a good value proposition is a huge opportunity. There is a growth of professionals, sports stars, celebrities and entrepreneurs who need access to business aircraft and may not necessarily want to own one or be able to own one. Corporate aviation, whether by complete or fractional ownership, is a piece that the industry and the government cannot ignore it could be the next big pull for the economy, bringing in revenues from both foreign travellers and increased domestic business efficiency. India plans to be a global aviation hub and one of the top three aviation markets worldwide by 2020. By 2020, passenger traffic at India Airport is expected to increase to 450 million from 159.3 million in 2012-2013.The aviation sector is likely to see investments totalling USD 12.1 billion during 12th Five Year Plan, out of which USD 9.3 billion is expected to come from the private sector.200 low-cost airports are planned to be built in the next 20 years to connect tierII and tire-III cities. USD 1.3 billion is planned to be spent on non-metro projects during 2013-17 mainly focusing on the modernisation and up gradation of airports.
Source: http://epaperbeta.timesofindia.com/
Leave Your Comment