There has been a steady rise in the number of Indian millionaires and billionaires in the past few years. They now want a piece of the high life and what better way to buy private jets. Infact 157 private planes are going to be delivered to these ultra rich Indians in the next 12 months. This will take India to the fourth slot from eighteenth in the list of countries with number of private jets.
It is quite surprising however, that India has almost double the number of private jets as compared China, a country that has many more billionaires. The other interesting bit is that most of these private jets are new and not second hand.
Posina V Rao, country representative for Dassault International, said: “With many Indian companies going in for overseas acquisitions, they look for business jets that can travel long distances and transport a dozen of their top executives if need be. It’s cheaper to move say a dozen odd executives in a business jet than flying them business class in a commercial airline. Besides the cost of tickets, the cost of accommodation also has to be factored in when travelling in a commercial airline. Business jets give the option to return after a crucial meeting, saving time and cost.”