India Inc eschews private jets in wake of economic slump, weak rupee

Mumbai: India's big companies are selling their own jets and chartering flights instead because of rising operational and input costs amid a sluggish economy and a weak rupee. In the past year, the number of non-scheduled operators in the country has fallen to 125 from 150, with several companies getting rid of their private jets.
The slack has been taken up by private jet operators. "We are currently doing 55 flights a month, up 20% from a year earlier," said Atiesh Mishra, general manager of Taj Air, the Tata Group's charter unit. Taj Air has an alliance with Deccan Charters and Business Jets India for operating business jets in India. Companies are scrapping or delaying plans to buy planes because of the economic environment .
Read news in full 11/10/13 Economic Times