IndiaJets Launches Exclusive Aircraft Membership Program, Revolutionizing Business Aviation in India
- ByStartupStory | May 23, 2023
IndiaJets, the pioneering subscription-based business aviation startup, has officially commenced operations in India with its exclusive IndiaJets Aircraft Membership program. This unique model offers business owners and senior management professionals the opportunity to experience the privileges of a private aircraft without the complexities and responsibilities of ownership, such as overseeing airworthiness, crew management, and maintenance.
Through the program, subscribers can purchase a share size aligned with their annual flight requirements, paying a fixed monthly amount and per-hour rate, eliminating the need for hiring personnel, paying hangar rent, and managing variable costs associated with whole aircraft ownership. With an initial seed funding of USD 500,000, the company currently operates a 6-seater business jet and has ambitious plans to expand its fleet by inducting 32 additional aircraft, including medium to large jets, in the coming 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. Fractional ownership offers the flexibility, convenience, privacy, tax- and time-saving benefits of aircraft ownership, without the attendant capital expense or management responsibilities. Subscribers can customize their itinerary, set their own schedules, save and maximize the value of their time and travel in comfort in a highly sanitized space”
Despite the Indian Government’s announcement in October 2022 to facilitate the implementation of fractional ownership and drive the expansion of non-scheduled operations in the country, the specific framework for its execution is still pending.
Rajesh Rajan Co-Founder & COO said, “Safety and reliability are the two most critical non compromisable aspects of 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 organization) enables us to understand what goes behind the scenes.”
TGS Gupta, Co-Founder & 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”.
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