Deccan Aviation, the parent company of India’s biggest low-cost carrier, is finalizing a lease-order for two eight-passenger Learjet aircraft as it plans to enter the nascent corporate jets business
The company is likely to acquire 15 more jets, which will be based in Mumbai.
“We see a large market in India for corporate jets,” said Jayant Pooviah, head of Deccan Aviation’s charter operations.
The Learjet 45XR is one of the first business jets ever built. It has a range of five-six hours, which means it could fly to Southeast Asian destinations such as Malaysia and Singapore.
Priced at around $13 million (about Rs57 crore), the Learjet 45XR will be leased at $140,000 (about Rs61 lakh) a month, said Mohan Kumar, Deccan Aviation’s director of finance.
Currently, India has about 65 business jets, some owned by large corporate houses such as Reliance, and others by charter companies with which Deccan Aviation will be competing for a piece of the rapidly growing market. Bombardier, the company that manufactures Learjets, expects the Indian business jet market to triple in the next five years. Deccan Aviation is no stranger to the charter business; it already owns 10 helicopters, two turboprop PC-12s and one KingAir B-200, which it charters out for corporate travel, medical evacuations and cargo operations, said Pooviah.