Business jet business booms on high-flying tycoons

 

NEW DELHI: Forget the slowing Indian economy – for some, it’s still booming. The world’s largest business aviation jet company VistaJet says it is witnessing 25% growth in demand for its planes in India from entrepreneurs.

The Zurich-based company, which offers long-haul flights at hourly rates in the $12,000-18,000 range, says three to four of its 37 Global Express planes are constantly hired by Indian companies and it plans to station about four more planes here by mid-2014.

“India is a very strategic market for us. We have been here for 18 months and are witnessing 20-25% growth. We are aware of the overall slowdown and fall of the rupee. But successful Indian entrepreneurs are travelling and we are seeing an unprecedented demand from the country for business jets,” said VistaJet Holdings chairman Thomas Flohr.

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