If Mark Baier hasn’t come knocking on your door, you don’t count in India Inc. The CEO of BJets is betting big on the demand for fractional ownership of private aircraft
What’s the smallest product I can afford?
How about 1/16th of an aircraft, or 50 hours of flying time? Owners actually use very little of a private jet, and you can always grow your share as your needs grow. Not everyone can afford an aircraft; plus, maintenance and running costs are very expensive. As a model, it’s very successful elsewhere. And your fraction of the aircraft is an asset which, like everything else, is depreciable in your company’s books.
You have other programmes too…
Yes, the pre-paid card programme is like a phone card. Say, you buy 25 hours — as you keep flying with us, the hours keep getting deducted. And then we have an aircraft manager programme for those who have bought or are planning to buy an aircraft. Running one is a complex business, so we offer to maintain your aircraft for you, handle the catering and so on. There’s a lot of interest in India for that.
And it will cost me how much?
Our prices are comparable with prices for similar services in the US. We’re handling the marketing through meetings with high net worth individuals.
How large is your fleet?
We have four aircraft. Another four will be with us by the end of this year. We’ll have another 21 by 2009-end. We have placed orders for 50 aircraft over the next five years. The interiors of all have been designed by BMW Designworks, and are subtle.
On what configuration?
We have eight passenger seats in the Hawker 850XP — five armchairs and one couch for three passengers. The seats revolve, so they’re comfortable for meetings. The fittings are luxurious. The master seat has all the controls and can also be turned into a bed. Plus, a galley has everything for customised meals and a bar, and there’s a jump seat for the service staff. Our Cessna CJs have a six-seat option.
What’s the biggest advantage of fractional ownership?
I’d say having a fleet that allows you a flexibility of flight options, so you and company executives or family members can fly to different places simultaneously.
