ArcosJet to attend India Aviation
Moscow-based ArcosJet has confirmed it is to attend the India Aviation event that takes place in Hyderabad from 16 March to 20 March. The corporate jet broker said that it will use the conference to seek out “local owners” that want to sell aircraft globally.
India has become a growth market in the corporate jet sector and the success of India Aviation reflects this. The event is now in its fifth year and is organised by the Indian Ministry of Civil Avaition, the Federation of Indian Chambers of Commerce and Industry and the Indian Government.
The country had experienced significant growth in the corporate jet market until 2008 when the introduction of a new import tax on aircraft, coupled with poor infrastructure and extensive bureaucracy arrested the progress of the Indian business aviation sector.
The local Business Aircraft Operators Association is now lobbying for a change in regulations and taxation, while the activities of the Indian government have recently been aimed at attracting more foreign investments and is drawing more business jet traffic into the country.
Overseas business jet arrivals and departures rose 12% in the second half of 2015 compared to the same period in 2014.
Although currently more than 15% of the active fleet is up for sale (21 aircraft on market officially and a number of others being sold off-market), the Bombardier forecast of 1215 business jet deliveries between 2014 and 2033 looks viable in the long-term.
ArcosJet sees a more immediate interest in sales of Indian-owned business jets abroad.
“Even in today’s soft market, there are buyers out there looking for well-maintained large and long-range aircraft, such as the Global 6000, Challenger 605, and Falcon 7X. And there are some of those in India.”
Ivan Veretennikov, sales director of ArcosJet, said: “Even in today’s soft market, there are buyers out there looking for well-maintained large and long-range aircraft, such as the Global 6000, Challenger 605, and Falcon 7X. And there are some of those in India.”
“Our extensive knowledge of the BRICs markets with their often complicated transactions and ownership structures, as well as an outreach to customers in the US, Asia, and other active spots on the globe, help us identify prospective buyers and make smooth transactions in this unique multi-cultural marketplace. After all, originating from Russia we know a thing or two about prohibitive taxes, red tape, and complex deals.
“Many of the problems we see in India are something we are having to tackle in other places, and know-how is often the only thing standing between ‘sale’ and ‘fail’,” added Veretennikov.