If you have personal financial holdings of over Rs4.56 crore or $1 million — a high net worth individual (HNWI) — then Brazil’s leading commercial jet exporter, Embraer, is interested in you as a potential customer to buy its light executive jets, Phenom-100s and Phenom-300s.
Of course, there are no names given, nor have the company officials even revealed whether any of India’s HNWIs have approached them for enquiries at the five-day Aero India 2011 on its opening day on Wednesday. But the timing of this company to push sales of these two light executive jets to India’s ultra rich could not have been better.
Several states in India are looking at developing smaller airports that could cater to people hopping between destinations just 200 km apart. Karnataka government has plans to develop airports every 150km apart. Land acquisition has already begun in Bijapur, Bellary, Shimoga and Belgaum among others to develop such airports.
Moreover, according to a global wealth report released by Merril Lynch Wealth Management and Capgemini, Indian high net worth individual population has grown 50.9% year-on-year to 1,26,700 in 2009 (globally, it’s just 17.1%), and it has not declined.
This means there are more individuals with the purchasing power to pick up executive jets in the luxury category (collectively or individually) in India than ever before.
Embraer is eyeing this segment to make the most now.
10/02/11 Nirad Mudur/Daily News & Analysis
After high-end cars, take a look at little luxury jets
Published February 10, 2011 Uncategorized Leave a CommentTags: Luxury Jets
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