Leaving on a jet plane: India's super-rich prefer their own planes now

According to a report, several Indian entrepreneurs are buying long-range business jets to fly as far as the US and Europe

India's super-rich now appear to be gaining confidence in their public image and are not shying away from splurging their wealth. According to a report in The Economic Times, several Indian entrepreneurs are buying long-range business jets to fly as far as the US and Europe.

The corporates are showing an inclination for bigger jets as their wealth rises, and people prefer exclusive modes of travel following Covid-19.

Media mogul Kalanithi Maran's Sun TV, the Adani Group and Cyrus and Adar Poonawallas, who own Serum Institute of India, are among those who have recently bought bigger jets, the report said.

Of the three, Sun TV has invested in the longest-range business jet, a Bombardier Global 7500, with a range of 7,700 nautical miles. The Adani Group bought a Bombardier Global 6500 this year with a range of 6,600 nautical miles, and the Poonawallas bought the same aircraft last year, the report said. 

The jet comes with a price tag of up to $56 million and can fly to Europe and beyond.

"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 told ET.

Others who own long-range business jets include the Jindal Group and Hero Group.

Atiesh Mishra, the founder of business aviation solutions company AJM Jet Management, says the globalisation of Indian business is the key reason for India's super-rich buying these private jets, which offer greater comfort during flying.

The billionaire population in India rose at an unprecedented rate of 19 per cent last year, according to a Knight Frank survey.