Air also has a decent chunk of corporates from the energy, oil and gas and textile sectors who have membership with them. The cost of such flying could be anything between Rs 60,000-Rs 3, 00,000 for an hour.
Claims of aviation companies that corporates prefer fractional ownership of aircraft can be corroborated with a recent report authored by Ketki Mahajan, research associate, aerospace and defense practice at Frost & Sullivan which states, India is one of the strongest markets for private jets with strong economic growth, expanding business interests and increasing number of billionaires.
The report further said that the private jets market in India constitutes 12% of the global market and is bigger than Asian markets in China and Japan. India has the maximum number of private jets in Asia, around 140 against China's 93 and Japan's 76; this is expected to double by 2020.
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