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BJETS, a new private jet operator in Asia partly owned by India's Tata Group, said on Tuesday it has ordered 40 Cessna and Hawker jets worth more than US$600 million (S$847.2 million).
Based in Singapore, BJETS seeks to tap into the Asian market for business jet travel, which it believes shows tremendous growth potential, Chief Executive Mark Baier said during the company's launch at the Singapore Airshow.
'There really are no dedicated business jet operators here, and the ones that are, are reasonably small,' Mr Baier said. 'We're bringing that dedicated business fleet here to Asia simply because it is currently underserved.'
BJETS will start flight operations in May out of Singapore's Seletar Airport. In India, its flight operations will be based out of the new Hyderabad International Airport, Baier said.
In Asia, there are currently less than three business jets for every so-called 'ultra high net worth individual' - defined as a person whose financial assets exceed US$30 million (S$42.36 million) he said.
That is 'well behind much of the rest of the world'.
The company has ordered 20 Cessna CJ2+ jets, which have a typical capacity of five or six seats, and another 20 Hawker 850XP and 900XP planes, which seat seven to eight, he said.
BJETS also has options for 10 more Hawker aircraft.
Mr Baier declined to reveal the size of Tata Group's investment in the company. -- AP
Got this article from the Straits Times.----------
BJETS, a new private jet operator in Asia partly owned by India's Tata Group, said on Tuesday it has ordered 40 Cessna and Hawker jets worth more than US$600 million (S$847.2 million).
Based in Singapore, BJETS seeks to tap into the Asian market for business jet travel, which it believes shows tremendous growth potential, Chief Executive Mark Baier said during the company's launch at the Singapore Airshow.
'There really are no dedicated business jet operators here, and the ones that are, are reasonably small,' Mr Baier said. 'We're bringing that dedicated business fleet here to Asia simply because it is currently underserved.'
BJETS will start flight operations in May out of Singapore's Seletar Airport. In India, its flight operations will be based out of the new Hyderabad International Airport, Baier said.
In Asia, there are currently less than three business jets for every so-called 'ultra high net worth individual' - defined as a person whose financial assets exceed US$30 million (S$42.36 million) he said.
That is 'well behind much of the rest of the world'.
The company has ordered 20 Cessna CJ2+ jets, which have a typical capacity of five or six seats, and another 20 Hawker 850XP and 900XP planes, which seat seven to eight, he said.
BJETS also has options for 10 more Hawker aircraft.
Mr Baier declined to reveal the size of Tata Group's investment in the company. -- AP
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