IndiaJets has internally accrued a seed funding of Rs 4 crore and currently operates a six-seater business jet
IndiaJets, a subscription-based business aviation start-up, has announced the launch of its operations in India with the IndiaJets Aircraft Membership programme.
According to a statement, this model mimics is a timeshare in the sky and is tailor-made for business owners and senior management professionals who can enjoy the benefits of a private aircraft at their disposal without owning nor having the burden of overseeing and managing airworthiness, crew, maintenance and others.
The company has claimed that the subscribers need to buy the share size appropriate to the annual flight requirement for a fixed amount per month and per hour flown, without hiring personnel, paying hangar rent, or attending to the many other details inherent in the whole aircraft ownership, including variable costs.
IndiaJets has internally accrued a seed funding of Rs 4 crore and currently operates a six-seater business jet. It is also planning to induct another 32 aircraft including medium to large jets over the next few years.
Commenting on the development, John Kuruvilla, CEO and Co-founder, IndiaJets said, “For successful business leaders air travel is now a way of life and for them, the value of time is far greater than the value of money. But in India there are several challenges. The high cost of aircraft ownership and monthly operations and maintenance are strong entry barriers. In addition, time wasted at Airports, standing in queues, crowded airports and lounges make commercial flying an unpleasant experience. Flying Private is the only solution and business leaders across the world are now doing so through fractional ownership.”
Rajesh Rajan, Co-Founder and COO said, “Safety and reliability are the two most critical non-compromisable aspects of the aviation and at IndiaJets this would be our priority. With vast experience of flying both helicopters and fixed-wing for the Coast Guard and having led some of India’s largest MROs ( Maintenance and Repair organizations) enables us to understand what goes behind the scenes.”
TGS Gupta, Co-Founder and CFO said, “The IndiaJets membership model will empower smaller businesses to now get the advantage of maximising the value of their time and drive rapid progress in the smaller towns where many have their businesses or relationships. We believe that we will provide this much-needed impetus that business in Bharat needs, to drive growth.