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Till 1986, there were only 50 aircraft, both fixed - wing and helicopters registered for private and charter use in India. The fixed wing segment were predominantly dominated by the Beech King Air C-90s and the helicopters were largely the Bell 47G models.
However, business aviation has seen a phenomenal rise since those days and the last ten years have witnessed an exponential growth. Arguably, the September 11, Al Qaida bombings may have had their say in how business houses value their staff and how they plan to circumvent the threat of terrorism. But what has catalyzed the surge in India is the liberal economic environment and free market forces which has translated into a booming economy and huge cash reserves both at the corporate and personal levels. The corporate sector understands that it makes business sense to own its own aircraft and business aircraft manufacturers are working hard to meet the varied and rising demands. There is immense competition within the space to grab market attention and grab a share of the booming market.
India today probably offers the largest potential for executive jet manufacturers in the Asia Pacific region. This can be gauged from the fact that close to a 100 import permissions have been granted to 70 business firms to buy business jets in 2006 alone. The statistic is mind boggling when compared to figures of past years. Biz jet manufacturers see India as vital to their global plans and are bracing up for competition by reinventing themselves and catering to an emerging market. Bombardier produces business jets that range from the Learjet light aircraft to the ultra long range Global Express XRS that has a range of 6500nm. It has invested aggressively in its charter operation business "Skyjet" which offers a jet card system that allows customers to buy the use of a business jet for as little as 25 hours. The concept is working fine in markets in the US, Middle East and Europe and Bombardier plans to offer it across the globe.
Gulfstream is a name synonymous with luxury in the business aviation segment and offers aircraft in ranges of 2950nm to 6750 nm. Its flagship is the G550 which offers technology upgrades and allows for safe operations in areas of high terrain and poor visibility. Cessna has been adding to its product line and recently announced launches of the Citation CJ4 and the upgraded Citation XLS+. Its Citation Mustang, which many believe is an entry level business jet at US $2.54million gives good value for money but it is this very light end of the market where the most excitement seems to be on offer. However, the entry level market seems to have been shaken up with the introduction of the ultra light jets Eclipse 500 and the Adam Aircraft 700 on offer at a price of just US $ 1.5 million. The Eclipse 500 is the brainchild of Vern Raburn of Microsoft who has the backing of Bill Gates in developing this four seater with a range of 1125nm with many air taxi operators in the US already queuing up for deliveries.
JULY 23RD -27TH, 2009 AT INTERCONTINENTAL-THE LALIT GOA RESORT
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