Sunday, November 18, 2012

Economic slowdown? Corporate jets get set for second rising


From a utilitarian standpoint, corporate jets should always be insulated from economic cycles. They take their owners or users closest to a final destination in the fastest time possible. Travel is unavoidable. So even if economic conditions are biting, corporate jets are not really politically incorrect possessions.
TS Kalayanaraman of Kalyan Jewellers agrees. He purchased a seven-seat Embraer Phenom 100 in, of all places, Kerala. The private jet helps him supervise his 30-odd jewellery stores that span Kerala, Tamil Nadu, Karnataka, Andhra Pradesh and Puducherry.
"A private jet is not a luxury; it is a necessity," he told ET in an earlier interview, referring to the poor air connectivity in India. Kalayanaraman had trouble reaching small towns like Hubli, Belgaum and Tirupati. Travel took days — one flight a day, a couple a week or no flights at all — but now thanks to the jet, he zips from Bangalore to Hubli in half an hour.
18/11/12 Binoy Prabhakar/Economic Times