JetSetGo, a prominent charter specialist based at Delhi International Airport, is embarking on a significant expansion plan aimed at acquiring 12 new mid-sized twin-engine aircraft. The company aims to secure USD 900 million in fresh funds to facilitate this ambitious endeavor, as reported by BusinessLine, citing JetSetGo’s founder and chief executive, Kanika Tekriwal. Additionally, the company is contemplating an initial public offering (IPO) possibly in 2027 or 2028, signaling its aspirations for future growth and market expansion.
Tekriwal highlighted the evolving preferences of JetSetGo’s clientele, emphasizing a growing demand for larger aircraft. In response to this trend, the company plans to procure aircraft capable of operating with a minimum range of six hours. Financing for this acquisition will be structured through a combination of debt, equity, and customer funding, reflecting JetSetGo’s commitment to financial prudence and strategic investment.
The charter specialist anticipates the delivery of its new aircraft to commence in the final quarter of 2024, with an acquisition rate of four planes per year. This phased approach aligns with JetSetGo’s strategy to manage growth sustainably while maintaining operational efficiency and service excellence.
Currently, JetSetGo operates a diverse fleet comprising 11 aircraft, catering to a range of travel preferences and requirements. The existing fleet includes three Hawker Beechcraft 800XPs, one Cessna Aircraft Company CJ2, one Hawker Beechcraft 750, one Legacy 600, one Hawker 900XP, one Dassault Aviation 2000, one Global 6500, one Gulfstream G200, and one AgustaWestland AW109 helicopter. This diverse portfolio underscores JetSetGo’s commitment to offering tailored solutions to its discerning clientele, encompassing both business and leisure travel needs.
The strategic expansion initiative underscores JetSetGo’s confidence in the long-term growth potential of the aviation market, particularly in the premium charter segment. By augmenting its fleet with modern, fuel-efficient aircraft equipped with advanced amenities and capabilities, the company aims to enhance its competitiveness and capture a larger share of the burgeoning market.
Furthermore, JetSetGo’s consideration of an IPO reflects its strategic vision to capitalize on opportunities for market listing, potentially unlocking additional capital for future investments and strategic initiatives. A successful IPO would not only provide JetSetGo with access to public markets but also validate its business model and growth prospects, bolstering investor confidence and stakeholder value.
As JetSetGo charts its course for expansion and market leadership, the company remains steadfast in its commitment to operational excellence, safety, and customer satisfaction. Through prudent financial management, strategic partnerships, and continuous innovation, JetSetGo is poised to redefine the landscape of private aviation in India and beyond.
