Aviation aggregator eyes city for high returns

The company, which offers charter aircraft, air ambulances and yacht services is keen on expanding its presence in the city, by catering to corporates, individuals and groups for weddings, private functions and official get-togethers.

Rahul Muchhal, Founder-Director of this company is banking on Chennai to take his business to new heights. With a sizeable population of young, urban professionals with the purchasing power to splurge on everything from weddings to anniversaries and even proposals in the sky, Rahul sees great potential in this South Indian market for his services. The company has a fleet of 130 planes, 80 helicopters and seven air ambulances. And gazing skywards is what’s bringing in the money as Rahul explains, “One of the most in demand services that we are looking at is the aerial tours offered by the two seater planes. 

The demand for this service is quite high in Chennai as we have 4-5 parties opting for it every week. A majority of them are young couples who use this service either for proposing in the skies or celebrating their anniversaries. A 30-minute spin costs you a little over Rs 25,000.” 

The ocean has also turned out to be a potential goldmine for the firm. He tells us, “We have three yachts in Chennai, which are being hired on a regular basis. What we have tried to do is make an aspirational product affordable for the urban populace. For instance, a seven seater sail yacht can be hired for as little as Rs 10,000 for two hours, which has caught the attention of many individuals keen on hosting private parties. Similarly, a larger 16-seater yacht can be hired for about Rs 30,500 for three hours.” 

At least four to five orders come in every month, from organisers of weddings, and private parties. The company, which has a fleet of 45 yachts available for rental in Mumbai, Goa and Chennai does an average of 30 to 40 rentals per month. The corporate clientele is yet another strong segment in the city that company has its focus on. Almost 50 per cent of the firm’s business comes from this consumer segment alone. 

According to Rahul, the market for the retail segment (yachts and aerial tours) is expected to grow at the rate of 25 to 30 per cent Y-O-Y in Chennai. The firm is working on a mobile app, which will be out next year. Rahul says, “The market for such services across India is highly segmented. We are trying to bring in some order to the same. Having been present in Chennai for close to two years, we have witnessed a 500 per cent jump in demand after the first year. It’s expected to grow further in the coming year.”