From the Editor-in-Chief
Year 2024 was a year of challenges, volatility and unpredictability for the business aviation industry. However, by the end of the year, the industry had recorded robust growth supported by evolving demand and emerged as a vital player in redefining connectivity and efficiency in luxury and corporate travel.
Dear Reader,
In our lead story in this issue, Ayushee Chaudhary takes us through the ups and downs of 2024. As reported, the business aviation sector experienced steady growth in 2024, with a 6 per cent year-on-year increase in jet deliveries, according to the General Aviation Manufacturers Association (GAMA). The Asia-Pacific region played a significant role in driving demand, fuelled by economic recovery and a growing preference for large-cabin jets capable of intercontinental travel.
The year 2024 started slow but finished strong for business aviation flight activity. December finished with flight activity up 7.3 per cent year-over-year and 2.3 per cent month-over-month compared to November. North America and Europe, the two largest markets, both posted positive results, with North America outperforming expectations and Europe continuing its gradual recovery. Now, as the industry looks to the new year, December’s strong performance provides optimism for sustained recovery and expansion. Then we have two exclusive interactions with the leadership of global business aircraft manufacturers. The first conversation is with Michael Swift, Group Vice President – Sales, EMEA & APAC at Gulfstream Aerospace. He stressed that there is a Gulfstream aircraft for every mission and they see India as a huge growth market. He then delves into the company’s groundbreaking achievements in sustainability, including its pioneering transatlantic flight powered entirely by sustainable aviation fuel. The second exclusive chat is with André Zimmermann, Vice President Business Aviation, Pilatus Aircraft on what keeps Pilatus PC-12 NGX and PC-24 amongst the most popular business aircraft around the world. The answer to that is very simple - cutting-edge technology paired with precision craftsmanship epitomizing the ‘Swiss Made’ philosophy. These aircraft remain unmatched by offering the best combination of comfort, performance and versatility.
With a rising population of High Net-Worth Individuals (HNIs) and increased travel demands of corporate houses and seeking efficient modes of travel, there has been a surge of demand for pre-owned business aircraft in India. Given the value of aircrafts and intricacies involved, buying or selling a business/private aircraft entails a complex interplay of technical expertise, regulatory compliance requirements, legal and tax considerations. In an article, Lovejeet Singh and Abhay Goyal of Chandhiok and Mahajan, explain how careful consideration and detailed planning can protect the interests of both the buyer and the seller.
While General Aviation might be a pillar of economic and infrastructural growth, the rapid expansion of it has come with challenges, particularly concerning the health and well-being of the workforce. Sudip Sharma and Sarthak Baranwal do a deep dive on the types of health challenges being faced, the causes of the same and the proactive, health-centric approach that the industry can take to alleviate them. All this and more in this issue of BizAvIndia.
Welcome aboard and we wish you happy landings!
BizAvIndia - CURRENT ISSUE
