NetJets takes on Ashish Chordia as strategic partner for India foray

19 March 2008

Mumbai: NetJets, the world's leading private jet company, has announced that it has engaged Ashish Chordia, CEO of Shreyans, to act as the company's strategic partner for its first foray into the Indian market. A pioneer and worldwide leader in fractional aircraft ownership, NetJets said that a 400 per cent increase in the number of its business jet flights, to and from India over the past four years, has led them to direct focus on a long term strategy for the country.

The rise in the use of business jets comes on the back of strong economic growth and a growing demand for private jet travel in India, the company said. Netjets currently has operations in the US, Europe and the Middle East.

Fractional aircraft ownership allows individuals and companies to enjoy all the benefits and more of owning their own jet at a fraction of the cost.

The company is by far the largest operator of private jets in the world with a combined fleet worldwide of over 735 aircraft under management– the second largest fleet of aircraft in the world after American Airlines. All operations combined, the company flew over 390,000 flights to over 170 countries in 2007. Effectively this meant that on an average a NetJets aircraft was taking off or landing every 41 seconds of every minute of every day.

NetJets is owned by Berkshire Hathaway, the investment vehicle of the legendary investor Warren Buffett.

Through its strategic partnership with Chordia, Netjets will offer its business jet services to Indian business executives looking to travel abroad. It is also considering its options in the domestic market, including working with additional local partners.