Policy in works to spur part-ownership of jets

While demand for private jets surged during covid, it retreated thereafter

- Anu Sharma

• 5-10% stake likely to be set for jet part-owners

The government hopes more people will take to co-owning and flying by private jets once it frames clearer, and friendlier rules on fractional ownership of aircraft, potentially helping a nascent industry take off.

While demand for private jets and helicopters surged during the covid years, it retreated thereafter. The civil aviation ministry, hoping to revive interest in the sector, is now fine-tuning its policy on fractional ownership of aircraft to strengthen the ecosystem for private charters, said Shankhesh Mehta, director, ministry of civil aviation.

"... we believe there are passive investors who would want to acquire an aircraft but are waiting for clarity," Mehta said. "The idea is to have as enabling a legislation as possible in place so that we have a NetJets coming out of India."