Business Other News 23 Mar 2016 Modi raj brings achc ...

Modi raj brings achche din for chartered flight firms

DECCAN CHRONICLE. | S UMAMAHESHWAR
Published Mar 23, 2016, 1:17 am IST
Updated Mar 23, 2016, 1:17 am IST
According to Vadim Feldzer of Dassault Aviation, his company is bullish on the growth of business aviation in India as the corporations go global
 According to Vadim Feldzer of Dassault Aviation, his company is bullish on the growth of business aviation in India as the corporations go global

Hyderabad: While the Opposition debates on whether the Modi raj has brought in achche din for people, chartered flight operators are having good time as more and more companies are using their services for ferrying them to scout their potential factory sites.

According to industry sources, DGCA data suggests a gradual increase in the business of charter airline operators due to government’s push for make-in-India and other international conferences. India has 146 private and non-scheduled charter operators, who fly corporates, politicians and celebrities.

“We have seen an increase in our business last year because of the government’s Make-in-India initiative. We are seeing an increased demand from foreign companies as they use our services for going to different places for setting plants,” said Bhupesh Joshi, director and CEO of Club One Air.

According to the commerce ministry, foreign direct investment in the country increased by 29 per cent for the 15-month period — ended December last year — after the launch of Make in India initiative. Several major companies, including Chinese and American, have evinced interest in setting up their manufacturing plants as Chinese wages hit roof.

“Business aviation had seen a huge growth between 2003 and 2007. There were many acquisitions by companies and chartered operators. After 2008, however, there was a lull. Though we are seeing the recovery, it has not reached the pre-2008 levels. However, the government’s steps have started making a positive impact,” a business jet body official said.

According to Vadim Feldzer of Dassault Aviation, his company is bullish on the growth of business aviation in India as the corporations go global. While there are a higher number of enquires in India, the company has not got a firm order from India this year. According to Business Aircraft Operators Association, this sector can grow faster, if the Centre brings down import duty on purchase of new aircraft under the non-commercial category.

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