India’s Tata starts business jet venture
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India’s Tata group is investing in a business jet company with Singapore-based Briley Group, Business Standard reported, quoting sources.
The newly-floated company, BJETS, will specialise in fractional ownership deals for business jets and has signed the single biggest order in Asia for a fleet of 50 new jets worth over US$600 million, the report said.
The aircraft will be delivered over five years beginning in the first quarter of 2008 comprising 20 Cessna Citation CJ2+ jets and 20 Hawker 850XP and 900XP jets with options for 10 more.
Apart from Mumbai, the company will operate out of Seletar airport in Singapore and have a flight operations centre in the new Hyderabad International Airport.
“Seventy percent of the fleet will be stationed in India, the rest in South East Asia and our aircraft will be able to fly at least 120 airports in India,” Mark Pierre, CEO of BJETS, was quoted saying.
“The market in India is under-served with only 100 jets compared to 13,000 to 14,000 each in Europe and the US,” he was quoted saying.
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