India's super-rich now prefer to travel by own jets

India's super rich are splurging on long-range business jets that can fly as far as Europe and even the US, buoyed by a rise in personal wealth and a preference for exclusive modes of travel post Covid-19. Media baron Kalanithi Maran's Sun TV, the Adani Group and the [Cyrus and Adar] Poonawallas, owners of Serum Institute of India, are among the corporates and high net-worth individuals who have bought bigger private jets in recent times, multiple people in the know said.

Sun TV, for instance, invested in a Bombardier Global 7500, the longest range private jet currently in India, this year. Priced at $75 million, the jet has a range of 7,700 nautical miles, which would take it as far as the US.

Adani Group bought a Bombardier Global 6500 this year while the Poonawallas bought the same aircraft last year. At list prices, the jet can cost up to $56 million and has a range of 6,600 nautical miles, reaching destinations beyond Europe.


"People who have business, travel to the UK or Europe and need a minimum range of 9-10 hours of non-stop flying and that is why we have invested and got these aircraft," Adar Poonawalla, CEO of Serum Institute of India, told ET.

Executives at other companies cited either didn't respond to queries or declined comment.

Other corporates that have bought long-range jets include Navin Jindal-owned Jindal Group, which invested in a Gulfstream G650ER with a range of 7,000 nautical miles, and Hero Group that bought a Falcon 8X with a similar range. To be sure, they bought these jets earlier.

"Globalisation of Indian business is the key reason why Indian business owners are buying long-range private jets," said Atiesh Mishra, founder of business aviation solutions company AJM Jet Management. "The other reason is that these new generation long-range jets offer better cabin comfort like private bedroom, low cabin altitude, fresh air recycled, and high speed internet connectivity," he added.

Many Indian businessmen have long-range business jets registered in places such as Cayman Islands, the US, and San Marino, and the aircraft are parked in the UAE, Mishra said.

"The reason behind this is that having a non-Indian registry gives you flexibility of operations, ability to fly at shorter notice as most countries do not require permits for aircraft under these registrations," he said.

According to a Knight Frank survey, the billionaire population in India grew at the fastest-yet rate of 19% in 2021, while their wealth grew 21.4% to $384 billion.

Private jet companies registered a massive growth since the outbreak of the pandemic. According to the Airports Authority of India data, private jet movements increased by 37% year on year during April-January last fiscal.

"Ultra-long-range jets are now fast becoming the preferred business aircraft for the ultrarich," said Rajesh Bali, managing director of Business Aircraft Operators Association (BAOA). This is primarily because of their 16 hour-plus range.