Wealthy Indians flee India by private jets as Covid wreaks havoc

Indian tycoons and others able to afford fares running into millions of rupees are booking flights to boltholes in Europe, the Middle East and the Indian Ocean.

Bloomberg
Published27 Apr 2021, 07:36 AM IST
Some of the impetus for the wealthy to fly out of India has come from overseas nations taking measures to restrict travel from the South Asian state as the new wave of Covid-19 cases has taken hold.
Some of the impetus for the wealthy to fly out of India has come from overseas nations taking measures to restrict travel from the South Asian state as the new wave of Covid-19 cases has taken hold.

India’s mounting crisis surrounding a surge in coronavirus infections is prompting wealthy families to flee the country by private jet.

With reports of hospital bed and drug shortages sweeping social media, Indian tycoons and others able to afford fares running into millions of rupees are booking flights to boltholes in Europe, the Middle East and the Indian Ocean.

“It’s not only the ultra rich,” said Rajan Mehra, chief executive officer at New Delhi-based private jet firm Club One Air. “Whoever can afford to take a private jet are taking private jets.”

India reported 352,991 new infections on Monday, the highest daily tally worldwide since the pandemic began. With the country’s health infrastructure creaking under the strain, Bollywood movie superstars were spotted escaping to destinations including the Maldives, while at least three Australian cricketers have quit the Indian Premier League, the sport’s leading club tournament.

Some of the impetus for the wealthy to fly out of India has come from overseas nations taking measures to restrict travel from the South Asian state as the new wave of Covid-19 cases has taken hold.

Canada, Hong Kong, the United Arab Emirates and the U.K. are among more than a dozen states that have imposed curbs, with others poised to announce measures. The Maldives will restrict Indians from visiting all but a handful of resort-only islands from Tuesday, leading to a last-minute rush in departures.

“There was a huge surge to London and Dubai just before the restrictions took place, and the Maldives too before they announced the ban,” said Mehra, who was previously the head of Indian operations at Qatar Airways.

A one-way flight from New Delhi to Dubai costs as much as 1.5 million rupees ($20,000), including ground handling and other fees, though private-jet operators also charge for the return leg if the plane is empty, Mehra said.

The exodus has echoes of last year, when India banned medical evacuation flights amid concern that the super-rich might falsely claim they need treatment in order to jet around the nation during lockdown after the government banned commercial services.

While private fares were already high and haven’t generally been bumped up, the cost of airline tickets has climbed.

Nishant Pitti, co-founder of Easy Trip Planners India, said there’s limited availability to locations such as London following a surge in bookings for “immediate travel.”

One-way economy-class trips to Dubai are going for the equivalent of $1,300, more than 10 times the regular price, according to Mehra.

“That shows how desperately people are trying to get away,” he said.

Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:27 Apr 2021, 07:36 AM IST
Business NewsNewsIndiaWealthy Indians flee India by private jets as Covid wreaks havoc

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    NTPC

    424.00
    03:55 PM | 19 SEP 2024
    10.15 (2.45%)

    Zee Entertainment Enterprises

    126.15
    03:56 PM | 19 SEP 2024
    -5.1 (-3.89%)

    Indian Oil Corporation

    165.10
    03:59 PM | 19 SEP 2024
    -3.35 (-1.99%)

    Indus Towers

    389.65
    03:53 PM | 19 SEP 2024
    -37.9 (-8.86%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    K P R Mill

    936.70
    03:41 PM | 19 SEP 2024
    77.75 (9.05%)

    Rainbow Childrens Medicare

    1,371.45
    03:29 PM | 19 SEP 2024
    79.5 (6.15%)

    Asahi India Glass

    708.85
    03:47 PM | 19 SEP 2024
    34 (5.04%)

    PB Fintech

    1,882.30
    03:43 PM | 19 SEP 2024
    76.75 (4.25%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      73,350.00250.00
      Chennai
      73,310.00180.00
      Delhi
      73,430.00-80.00
      Kolkata
      73,410.00-130.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.85/L0.10
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00

      Popular in News

        HomeMarketsPremiumInstant LoanMint Shorts