Thursday, March 20, 2008

Warren Buffett’s NetJets, the world’s largest fractional aircraft ownership company, is setting up shop in India.

The company operates close to 730 aircraft, making it the second- largest fleet in the world after American Airlines.

NetJets has tied up with Ashish Chordia, CEO of luxury good company Shreyans, to act as the company’s strategic partner for India. There is no clarity yet on whether foreign charter companies like NetJets can operate within India. The company is, therefore, starting its operations by offering its aircraft for international flights.

Speaking at the launch, NetJets director of sales Graeme Weston said there is a huge potential for private jet travel in India from corporates as well as high networth individuals. About two dozen Indian customers already use NetJets’ planes in the United States and Europe.
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