Campaigns to elect the members of 18th Lok Sabha will kick off in early 2024 with Prime Minister Narendra Modi eyeing a third term in the office. (PTI)
The private charter plane industry is all set to have a blockbuster year in 2024. After a strong 2023 due to state elections and the six-week long Cricket World Cup, the grand event of the Ram temple opening in Ayodhya last week and the upcoming general elections are expected to drive the demand for private charters to new highs.
Rajan Mehra, CEO, Club One Air, said, “There was a time when election travel started a month or two before the voting. But now it starts four months in advance.” Club One Air is India’s largest and the oldest charter operator with a fleet of 10 fixed wing passenger jets.
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No wonder, players in the sector are already grappling with demand-supply mismatches. With the waiting period for delivery of new private jets and choppers stretching to two years and beyond, the pressure on the plane charter industry will be significantly higher in the upcoming months, note senior executives of charter companies that FE spoke to.
Ashish Kumar, CEO, Flying Birds Aviation, said, “The purpose of increasing our fleet is to target the upcoming Lok Sabha Elections. During elections the demand for twin engine helicopters rose by 300% from the normal times from political parties, corporate sponsors and local parties.”
Flying Birds Aviation, which operates five fixed wing aircraft and four helicopters in India, and another 15 aircraft from its global base, announced the procurement of three more choppers and a heavy jet. The company is looking at the pre-owned segment where deliveries can be had in 2-3 months.
Campaigns to elect the members of 18th Lok Sabha will kick off in early 2024 with Prime Minister Narendra Modi eyeing a third term in the office. Leaders of all parties will crisscross the country addressing multiple rallies. Since these rallies are also held in areas without an airstrip or an airport nearby, commuting by helicopter is the only option.
In 2019, the demand for helicopters was around 70-100 and for fixed wing planes it was 30-40, but the supply was limited to only 45% and 75%, respectively, due to shortages. In 2023, the demand surged to 100-130 helicopters and 50-60 fixed wing planes, however supply still is only 65% of it.
Jaideep Mirchandani, Group Chairman of Aviation Major Sky One said, “I anticipate a robust and thriving private charter market this year. The increasing demand for VIP, High Net Worth Individuals (HNWI) travel, along with events such as marriages and family charters, suggests a buoyant market.”
Many flyers who were travelling commercial jets before the Covid-19 pandemic switched to charters in spite of the added cost. “If 8-9 business leaders take a chartered flight, the difference in cost is not that much compared to business and first class fares in commercial jets,” said another charter player.
“We could have long-range planes that could do Delhi-London non-stop. There is tremendous demand for the UK, which is the second home to the HNIs (high net-worth individuals). Our Falcons can go to Europe (Rome, Vienna, Zurich) but not to London. We can shift from the Falcons to Gulfstream or some other brand,” Mehra added.
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