Private Jet Cos Target HNIs in India
Private jet manufacturers are targeting High Networth Individuals (HNIs) at the Aero India 2011 aviation show in Bangalore.
As the importance of India as emerging luxury market grows, companies like Gulfstream and Embraer are hoping to sell large- to mid-cabin private jets here. Gulfstream, whose sales in India grew significantly from five jets in 2001 to 20 in 2010, is currently show casing its G 450 and G 550 jets at the aero show. The company has tied up with Arrow Aircraft to sell its executive jets in India.
Brazilian private aircraft manufacturer Embraer is also is busy marketing its 'light' Phenom-100 and Phenom- 300 planes - the latter being the fastest jet in its category - in India. These Rs 20 crore-plus planes come with interiors designed by BMW Group Designworks.
According to a Capgemini 2010 State of the World's Wealth report, the HNI population in India increased significantly - by about 50.9% in 2009. That gives private jet manufacturers a large enough market.
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