New Delhi: Many of India’s wealthy are leaving their private bubbles to join the masses on commercial flights as the pandemic fades and airlines get back on track. These wealthy travelers had jettisoned business jets during the pandemic to reduce their risk of catching the virus. According to industry data, a passenger on a regular commercial flight is at risk of infection from at least 280 contact points, compared to just 40 when flying on a private jet.
The emirates saw a 17.1% decline in movement of private jets and helicopters during the 10 months to January, after they switched back to commercial flights, according to data from the Airports Authority of India. In contrast, such aircraft registered a 37% increase over the year-ago period. Private jet usage is measured in terms of aircraft speed—one take-off and landing equals two aircraft movements.
Industry analysts say the decline in commercial jet use is on the wane, but say demand will remain strong in the long term.
“It is true that during Covid, people found it appropriate to spend extra on business jets. As soon as Covid goes away, they have other options; 80% people went through this route (for commercial flight). But there is a trend towards more charter requirements, and this will increase in the future. So, the demand for business jets is going to grow, not the way it grew in the time of Covid, but the demand will be there in the long term,” said Rajesh Bali, managing director of the Business Jet Operators Association.
For instance, industry insiders said a businessman from UP’s Moradabad shifted to private jets during Covid as he preferred safe flights for his family. But that has changed. “This guy has now shifted completely to commercial,” said a person watching the industry, requesting anonymity.
While the return of people commercially is a factor, some say many businesses also bought jets after the arrival of Covid.
Santosh Sharma, founder of BookMyJet, an online booking portal for business jets, said, “Many people have bought business jets after experiencing the experience of private flying during the pandemic – many of these buyers are from smaller cities in India.”
While the business jet industry is struggling, scheduled airlines in India are seeing record numbers of passengers despite high airfares, hotel tariffs and inflation. Peppermint reported on February 21 that the sector was seeing its best quarter ever in terms of passengers flown in February. The fiscal fourth quarter traditionally sees lower demand in India.
India’s average daily domestic air passengers increased from 410,000 in December to over 420,000 in February.
However, India’s business jet operators are hopeful of a better year in the wake of elections in key states such as Karnataka, Rajasthan, Madhya Pradesh and Chhattisgarh.
Kanika Tekriwal, Founder and CEO, JetSetGo, said, “We expect an increase in demand for private jet travel during elections…Overall, we are optimistic about the demand for our services this year, which includes state elections. are also included.” Business jet service provider.
anu.sharma@livemint.com
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.