Global Jet Capital expects demand for business aviation in India to increase as a result of the country’s strong economic growth. “For Fiscal Year 2015 to 2016, India’s GDP growth was around 7.6 percent, and some market commentators are predicting growth of around 7.8 [percent] for 2016 to 2017,” said Simon Davies, the company’s vice president for sales in India. “Demand for business aircraft is closely correlated to economic growth, so we believe long-term that India will see a significant increase in demand for business jets.”
New research from Global Jet Capital reveals that over the last decade, 70 new midsize to large-cabin business jets worth around $3.5 billion were delivered to customers in India. “The Indian business aircraft fleet has a greater proportion of midsize to large-cabin jets than the global average,” the company said. “Forty-four percent of the Indian fleet is classed as midsize to large-cabin, compared with a worldwide figure of 31 percent.”
The aviation finance specialist, which recently completed the purchase of the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas representing approximately $2.5 billion of net assets, said it has around $1 billion to lend to clients to purchase business aircraft.