Fractional Ownership Takes Root In India
It's no secret that the fractional aircraft ownership concept has spread worldwide from its humble beginnings with what became the NetJets concept in 1986. Proving you can't keep a good idea down, a company billing itself as India's first domestic fractional operator -- Club One Air -- recently announced starting operations. Club One Air, whose managing director is Manav Singh, presently offers shares in its fleet of five Cessna Citation IIs and Excels to "high net-worth" individuals and India-based corporations. Singh's goals include selling as many as 60 shares -- that would be twelve "owners" per Citation -- by the end of 2005, according to published reports. Plans for 2006 include adding another five fixed-wing jets, plus two helicopters. Singh, a U.S.-educated financier and marketer, started a company called Aerostar Aviation 10 years ago to provide aircraft engineering services in India and the Middle East. So far, his Club One Air concept appears to be taking off.