Saya Amusement Private Limited, an Ahmedabad-based company that manufactures amusement and water park rides besides setting up parks on its own, is foraying into flight schools business. | |
| The company is planning to set up a flight school comprising 16 small aircraft, a small airport and a major repair and overhaul (MRO) centre at an investment of Rs 100 crore. |
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| The company has tied up with Mumbai-based Suraj Water Park to form a 50:50 joint venture company "� Saya Suraj Aviation Private Limited "� with an initial paid-up capital of Rs 25 crore for its new venture. It has already purchased 16 Cessna 'Skyhawk' trainer planes. |
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| "There is an acute shortage of 7,200 pilots in India. Moreover, 100 per cent foreign direct investment (FDI) is allowed for setting up a flight school and MRO in the country. Considering these factors, we decided to go in for the business," N D Rana, chairman of Saya Amusement, said. |
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| The company was scouting for 1,000 acres of land and has already applied with the Gujarat government for its allocation, he added. |
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| Since running a flight school tends to be a costly business, the JV company has already worked out its expenses and will be charging a fee of Rs 18 lakh per student. "We hope to earn a margin of 10-11 per cent," Rana said. |
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| For its MRO services, the company plans to bill clients for Rs 30 lakh per plane a year. However, it is yet to apply with the Directorate General of Civil Aviation for the required clearances. |
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