JetSetGo’s Billion-Dollar Ambition: Reshaping India’s Private Jet Landscape

Indian charter flight operator JetSetGo has made headlines regarding its expansion plans. The private jet operator intends to raise USD 900 million as well as plan for an IPO by 2027-28. This is not all; the operator is also planning on purchasing aircraft which will have a minimum flying range of six hours. 

The above is a highly ambitious move by the company, to infuse funds of almost a billion dollars while also buying new aircraft. The above is in line with the fact that the demand for private charter flights in India has been on the rise ever since the COVID-19 pandemic.

People who needed to travel and could afford to, chartered flights to not expose themselves to a larger number of people. Charters were also used to help in evacuation attempts during the pandemic. 

However, these days, the primary demand for charters is from VIPs, cricket teams, corporates, etc., who need to charter flights to move people in and out of a destination fast and without the hassle of flying on a scheduled operator.  In recent years, there have been multiple high-profile events such as the Ram Mandir inauguration in Ayodhya, the India VS. Pakistan Match in Ahmedabad, and most recently, the pre-wedding festivities hosted by Indian billionaire Mukesh Ambani for his son.

All those events saw a heightened use of private jets and private charters to ferry guests and attendees. Several corporates in India have also purchased private jets as a time-saving measure. 

Progress Over The Years:

JetSetGo was started in 2012 by young and ambitious entrepreneur, Kanika Tekriwal, along with Sudheer Perla. The company offers charters using both aircraft and helicopters. When they had forayed into the market, the problem was not the demand for charters, but that the supply wasn’t enough. 

Over the years, JetSetGo has managed to build up a fleet of 10 airplanes and one helicopter.

Looking Ahead

The operator’s plans also include phasing out its older aircraft and instead inducting newer long-range aircraft. By upgrading its fleet, international markets will open up for charters. Currently, 80% of the flights chartered are domestic. This step will increase the available market for jet charters. 

The airline has also struck a deal to induct over 200 hybrid-electric aircraft. The deal was made with three different firms: Electro.aero, Horizon Aircraft, and Overair. 

Almost every aspect of this development is highly exciting in the private jet charter market of India. Recent trends point to a positive and promising future for this niche in the Indian aviation market. The fact that it has also planned to induct hybrid-electric aircraft is a first of its kind in the country. 

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Devaansh Dhoot

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