Tata to partner Singapore firm for private jet companyFebruary 19th, 2008 - 10:28 pm ICT by admin
Mumbai, Feb 19 (IANS) Singapore-based private jet operator BJets Monday announced that it will partner the Tata Group to set up a private jet company, where aircraft will be partly owned by users. BJets has placed an order for a fleet of 50 new jets worth more than $600 million (Rs.24 billion). However, the company has declined to reveal the size of Tata Group’s investment in this venture.
The Briley Group is the majority shareholder in BJets. The other significant shareholder is the Indian Hotel Company Ltd (IHCL), a part of the Tata Group.
The operations will be started in May this year out of Seletar Airport, Singapore. In India, BJets will be headquartered in Mumbai with the flight operations centre based out of the new Hyderabad International Airport.
R.K. Krishna Kumar, vice-chairman of Tata Group, said: ” BJets will set a new standard in the way we fly and do business in Asia. The IHCL is very proud to be an investor in this landmark venture.”
“For the first time in Asia, BJets will combine the best of the US and European models of fractional ownership, block charter and aircraft management services and provide a new benchmark for private aviation services,” said Bala Ramamoorthy, founder and managing director of BJets and chief executive officer of the Briley Group.
The company has ordered 20 Cessna CJ2+ Jets, which have a typical seating capacity of five to six. It will also acquire another 20 Hawker 850XP and 900XP aircraft, which seat seven to eight, said Ramamoorthy.
Ramamoorthy added that BJets would own the biggest fleet of 15 new private jets in Asia by 2008-end.
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