Lok Sabha polls: Demand for private jets, choppers jumps up to 40%; operators may rake in more profit
As the Lok Sabha elections approach, political figures and party delegates are extensively touring the nation, leading to a significant 40 per cent surge in the demand for chartered aircraft and helicopters. Industry specialists anticipate that this increase will result in a 15-20 per cent rise in revenue for service providers.
Consequently, the hourly rates for these chartered services have escalated, with aircraft rentals costing between Rs 4.5 to 5.25 lakh and twinengine helicopters between Rs 1.5 to 1.7 lakh.
Despite the heightened demand, especially in comparison to regular periods and past elections, the availability of fixed-wing aircraft and helicopters has decreased. Operators are now considering wet leases to supplement their fleets.
Captain Uday Gelli, President of the Western Region for the Rotary Wing Society of India (RWSI), said that helicopter demand has increased by 25 per cent during the election season, with supply struggling to meet the heightened demand.
Helicopters are commonly utilized by political parties to enable their candidates and leaders to swiftly reach remote locations, with increased usage observed in larger states such as Uttar Pradesh, West Bengal, Tamil Nadu, and Andhra Pradesh.
Captain R K Bali, Managing Director of the Business Aircraft Operators Association (BAOA), reported that the demand for chartered planes has risen by 30-40 per cent compared to the last general elections. Operators are striving for maximum aircraft utilization, with bookings made well in advance.
Bali highlighted the persistent disparity between supply and demand, with some entities exploring wet leases for planes and helicopters to fulfill the increased requirements.
Helicopter rentals are billed hourly, and operators typically require political parties to commit to a set number of days and a minimum daily flying duration. Gelli noted that while the standard hourly rate for singleengine helicopters is usually Rs 80,000 to 90,000, it climbs to Rs 1.5 lakh during elections. For twin-engine helicopters, the rate can soar up to Rs 3.5 lakh,...