JetSetGo (Delhi International) is looking to secure USD900 million in new funds to facilitate the acquisition of 12 new mid-sized twin-engine aircraft, and it also has plans for an initial public offering (IPO) that could take place in 2027 or 2028, the newspaper BusinessLine reported citing the company’s founder and chief executive Kanika Tekriwal.
“We are observing a preference for larger aircraft among our members,” Tekriwal said, adding that it will finance the acquisition of aircraft capable of operating with a minimum range of six hours via a mix of debt, equity, and customer funding.
The charter specialist expects to start receiving its new aircraft in the final quarter of 2024, with a rate of four planes per year.
According to its website, JetSetGo operates a fleet of 11 aircraft, including three Hawker Beechcraft 800XPs, one Cessna Aircraft Company CJ2, one Hawker Beechcraft 750, one Legacy 600, one Hawker 900XP, one Dassault Aviation 2000, one Global 6500, one Gulfstream G200, and one AgustaWestland AW109 helicopter.
JetSetGo is also interested in acquiring electric Vertical Take-Off and Landing (eVTOL) aircraft, Reuters reported in January. The charter carrier has reportedly partnered with Horizon Aircraft, Electra.aero (Washington National), and Overair to acquire 150 eVTOLs in a deal valued at USD780 million.
These agreements have included an option to acquire additional aircraft for a potential fleet of 280. The eVTOL fleet will allow JetSetGo to connect smaller secondary and tertiary cities across India, targeting high-net-worth individuals who are not located in the country’s big cities.
ch-aviation has reached out to JetSetGo for comment.
