New Delhi : Companies like Club One Air and Warren Buffet’s Netjets have given Multinational Executives and High Networth individuals another reason to cheer for. Now they can opt for fractional ownership and fly at their convenience instead of booking their flights in a commercial airliner and be at the mercy of their schedules.
Fractional Ownership companies state that a company or individual owner can shell out as low as Rs1 crore and buy a share in a small aircraft. Customers can buy from one-eighth to a quarter share of the plane and, based on that, they would be allotted the number of hours they can fly in it.
The logic for this is simple. On an average, any company or its CEO uses a private jet for only 30 days in a year. Why would they then shell out Rs180-200 crore for a private jet?
High Fliers: Video Story
Experts opine that this model is expected to grow at 30-40% in the next decade. Given the fact that the purchasing power of companies and individuals is increasing with the boom in the economy, it would not be long before the number of private jets would soon become equivalent to the number of commercial airliners. However, Indian High Fliers have a long way to go before they start matching the numbers of private jets in developed countries like the US.