This Jet Club rises like a phoenix during crisis

This is how crisis gives rise to new opportunities. While most of the businesses started nose-diving during the pandemic, private jet journeys have become a viable option for more and more people who needed to travel despite Covid-restrictions over the last 22 months and luxury travel of private jet planes has surpassed pre-Covid levels. And it's not just in developed countries. India has also seen a significant increase in the number of people travelling globally for a holiday or business purposes on a private jet.

Going by various market studies, the Indian private charter companies haven't seen such growth in years. Many of the operators have increased their fleet and newer players are joining the bandwagon.

So much so, that eastern India, often perceived to be not-so-vibrant financially or business potential wise, has also seen rolling out of YaqootAir Charter, Eastern India's first private Jet Club. Other existing players-nationally include JetSetGO, JetSmart, SBS Aviation, BLADE, JetzHub, to name a few.

Yaqoot Air Charter, the latest and the newest to join the fray, claims to be different. "We are the only such company in India that is offering fractional ownership. And we are already flooded with enquiries from corporate and ultra HNIs. This is like one can part own the aircraft or together few individuals can own an aircraft," said Sabeer Ahluwalia, Luxury Consultant and Co-founder of Yaqoot Air.

"Eastern India is still a virgin territory when it comes to private jet charter. Considering the market demand and immense growth potential of the sector, Yaqoot Air Charter aims at setting new directions in the private jet industry. While most private charter companies work on an a-ad hoc basis, our model works on an exclusive air club membership. We have strategic location advantages, and an increasing number of ultra high-net-worth individuals shall bolster this segment of aviation," he said.

The private jet club with modern facilities will offer a range of private aircrafts best suited for various requirements including jet, turbo props, helicopters and also air ambulance for critical services. The private jets will provide air strips in exotic locations that are usually not covered by regular airlines. A real value for time, the luxurious aircrafts allow customers to plan their trips as per flexibility, in addition to giving the benefits of privacy and accommodation to unwind or hold an important meeting. Also, it allows one to carry furry friends by following certain guidelines. Yaqoot Air, co-founded by Ahluwalia and former director of RPSG Aviation company, Neil Shaw, has eight seater aircrafts with provisions to increase the number of seats.

"Given the post-pandemic scenario, people with remunerative income are preferring to fly on private jets as it's the most safest, convenient and secure way to fly as only you and your associates are on board - avoiding large crowd, long delays and queues at commercial flights. We are glad to associate with Sabeer for this new venture where we will provide the next level of luxury and convenience to plan one's air trips," said Shaw.

Justifying their move, Ahluwalia said: "While leisure travel is essentially the driver for the increase in private jets, rise in corporate, personal urgency or election-related flying are playing significant roles to boost the sector. Sales of luxury goods are soaring in the eastern part of the country and a booming luxury appetite is evident in cities of Bhubaneswar, Ranchi, Jamshedpur, Patna along with some cities of North-East. And although there is no specific figure available, the overall market of such luxury, private jet service is estimated to be anywhere between Rs 500 and Rs 600 crore and therefore there would be a decent slice for all players."

We are the only such company in India that is offering fractional ownership. And we are already flooded with enquiries from corporate and ultra HNIs. This is like one can part own the aircraft or together few individuals can own an aircraft

-Sabeer Ahluwalia, Luxury Consultant and Co-founder of Yaqoot Air