Demonetisation ‘grounds’ business jets

Business jet operators are also feeling the pinch of demonetisation as charter flight operations witnessed a decline of about 7-8 per cent following the November 8 move.

Operational compulsions

“Our business has impacted not because of poor demand but mainly due to our own operational compulsions of paying in cash for various purposes,” Business Aircraft Operators Association President Jayant Nadkarni said on the sidelines of releasing ‘Business Aviation in India’ report here on Monday.

“A large number of payments are made in cash such as landing and ground handling charges. We even had to cancel a few flights due to lack of cash,” Mr. Nadkarni said.

“We are worried especially due to the onset of peak season. If demand doesn’t materialise, it will not be a good sign,” Mr. Nadkarni added.

487 aircraft

The non-scheduled business operators have 487 aircraft on their fleet compared to 419 aircraft operated by scheduled operators, accordwing to Directorate General of Civil Aviation Register 2015.

The scheduled airlines had also reportedly witnessed a decline of about 10 per cent in overall sales due to demonetisation.