JetSetGo, the marketplace for private jets, helicopters and air ambulance, today announced the acquisition of Indo Pacific Aviation Limited for operations in India. Indo Pacific Aviation Limited is the country’s oldest non-scheduled aircraft operator (NSOP).
Prior to completing the transaction, JetSetGo has received government approval from the Directorate General of Civil Aviation (DGCA) and Bureau of Civil Aviation Security (BCAS).
To improve service and marketing, JetSetGo has previously raised an undisclosed amount of funding from cricketer Yuvraj Singh’s startup fund YouWeCan Ventures.
The Delhi-based startup JetSetGo was incorporated in 2014. For the first time aggregating India’s available private jets and helicopters, JetSetGo has grown to have a pan-India presence, becoming the country’s largest private aviation company that offers cost-efficient air connectivity with 2,800 aircraft movements executed last financial year alone. Reportedly, JetSetGo has been positive in cash flow since its inception.
It enables the sale of empty travel legs to other customers thereby adding value to original leg customer (by giving a credit against original charter cost). This way, the empty leg traveler gets a charter at a more attractive price point.
Kanika Tekriwal, CEO of JetSetGo, in a press statement, said,
As the oldest NSOP and having truly created the aircraft management market in the country, Indo Pacific has been instrumental in many ways in the growth of the private jet and helicopter market in India. Indo Pacific has far too many firsts to its credit and we are excited that this acquisition brings together the values of the old with the dynamism of the young. This acquisition now gives a significant boost to our ability to grow our fleet and offer unique services and next generation aircraft for personalised on-demand mobility.
JetSetGo typically manages and executes chartered flights through DGCA-approved and non-scheduled operator permits that are owned by others. With the acquisition of Indo Pacific Aviation Limited, JetSetGo is now expected to be more flexible to be able to directly manage its own fleet and to provide on-demand air connectivity.