Bengaluru-based IndiaJets, which is India’s first subscription-based business aviation start-up, has launched its operations with the IndiaJets Aircraft Membership programme.
According to the company, the model mimics timeshare in the sky and is tailormade for business owners and senior management professionals who can enjoy the benefits of a private aircraft at their disposal without having to own one or incur the burden of overseeing and managing air worthiness, crew, and maintenance.
Size according to requirement
Subscribers will have to buy the share size appropriate to the annual flight requirement for a fixed amount per month and per hour flown, without having to hire personnel, pay hangar rent, or attend to the many other details inherent in whole aircraft ownership, including variable costs.
The company has internally raised seed funding of $500,000, and operates a 6-seat business jet, which is stationed at HAL airport in Bengaluru. The company plans to induct another 32 aircraft, including medium to large jets, over the next few years.
Entry barriers to private jet ownership in India
John Kuruvilla, CEO and co-founder, IndiaJets, said, “The high cost of aircraft ownership, monthly operations and maintenance are strong entry barriers. At the same time, time wasted in 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-saving and time-saving benefits of aircraft ownership, without the attendant capital expense, or management responsibilities.
“Subscribers can customise their itinerary, set their own schedules, save and maximise the value of their time and travel, in comfort in a highly sanitised space,” he added.
