“India has less than 200 private jets, a tiny fraction compared to 11,000 in US and 3,000 in Europe. But these could double in a couple of years with more players coming in. We expect over 70% of our revenues to come from India,” says Baier.
But what of all those cancelled deliveries of private jets, each worth some $30-35 million? Ann Cossette of Bombardier Business Aircraft, says, “The increase in the number of order cancellations are mainly due to the limited availability of financing for our customers.”
This is why international private plane operators are now offering the next best thing, ‘own’ your own plane by buying the number of hours you need in it. Though domestic operators like Club One Air have been doing this since 2005, there are hardly any international players who can fly clients on a timeshare, say from India to Europe.