The I’s Of The Tiger
NOTE: The below originally appeared as the editorial in our March 24 One Minute Week newsletter. To find out more, and sign up for free, please click here.
One of the things that makes the business jet market exciting is that there are many entrepreneurial people always looking for tomorrow’s market. During the Corporate Jet Investor Dubai conference 2016 the two markets that kept coming up were Iran and India.
Both countries have very different obstacles.
India’s economy is growing fast; its companies need to travel domestically and trade globally; and the number of ultra high-net-worth individuals (UHNWIs) is growing. But, the country lacks hard infrastructure and has high import taxes. This is why it was being talked about as a market of tomorrow 10 years ago. Atiesh Mishra of Taj Air says there are currently 132 business jets, 138 turboprops and 129 helicopters, and private owners of such have to pay 22% import tax.
Iran is just starting. But it would be a mistake to say the door is completely open. Anyone looking to do deals there needs serious legal advice. And although business jet financiers are keen for new deals they keep forgetting to call Iranian borrowers back for some reason.
