Aviation sector faces a private jet stress test

The air charter market is booming due to rising affluence and connectivity gaps. But infrastructure and financing reform have not kept pace with the growth.

The private aviation industry is thriving on the back of a growing economy, ferrying founders, dealmakers and political leaders across the country. What once felt exceptional now feels routine.

But then came the fatal charter crash near Maharashtra's Baramati earlier this year. Five lives were lost. As private aviation grows — with more aircraft, flights and operators — have the watchdog mechanisms strengthened at the same rate? In simple terms: Are safety systems, infrastructure, and regulatory capacity expanding at the same rate?

The numbers, on the surface, appear steady. According to the Aircraft Accident Investigation Bureau, since 2014, India has recorded between seven and 12 aviation accidents across all civil categories. By November 2025, eight accidents had been recorded for the year. 

In total, 104 civil aviation accidents were recorded up to December 31, 2024, of which 91 investigations had been completed. These figures encompass all sectors: scheduled airlines, helicopters, flying schools, general aviation, and non-scheduled charter operators.

Private Aviation

However, there is no further classification to separate private business jets operating under the non-scheduled operator permit category and scheduled operators.

India does not publish annual accident totals for the business jet segment. Without that breakdown, it is difficult to measure charter-specific risk. The debate defaults to overall accident counts rather than precise risk exposure. Viewed in isolation, the numbers suggest relative stability. Most years sit in single digits. The peak was 12 in 2022. There is no obvious upward spiral.

However, stability in raw numbers risks masking changes elsewhere.

India now operates more than 150 business jets within a broader general aviation fleet of over 400 aircraft, which includes non-scheduled charter operators, business jets, helicopters, and training aircraft.

Charter and general aviation movements have increased by approximately 20% in recent years as traffic rebounded strongly after the pandemic. More aircraft. More sectors flown. More landings at smaller airfields. 

Kanika Tekriwal, founder and chief executive of JetSetGo, describes the shift as structural.

“The Indian air charter market is experiencing a significant transition, with a projected compound annual growth rate of 13-15%. Growth is being driven by rising affluence and a persistent connectivity gap in Tier-2 and Tier-3 cities,” says Tekriwal. 

If accident numbers remain flat while the number of aircraft movements increases, relative safety may in fact be improving. However, without publicly available flight-hour data disaggregated by operator type, calculating accident rates is impossible.

However, international comparisons offer some perspective. In the United States, general aviation accident rates per 1,00,000 flight hours remain several times higher than those of scheduled airlines. Commercial carriers operate at accident rates measured in fractions per million departures. Charter and private flying carry inherently different risk profiles. India does not publish per-flight-hour accident data for its private jet fleet. The public, therefore, sees outcomes rather than probabilities.

Industry executives insist the expansion is structural, not speculative.

Bineesh Paul, Director of Charter Flights Aviation, says India has climbed steadily in global rankings. “We stand eleventh in the world today. Three years ago, we were around 15th. The movement has been steady, and the shift is clearly towards developing economies. In fact, in some respects, we are performing better than China,” says Paul. He estimates that domestic private aviation growth has averaged 35% annually in recent years. “India is one of the biggest potential markets in the world,” he adds.

Charter Flights operates from a dedicated terminal at Hyderabad’s AHL Airport. Efficiency is the selling point. “All clearances can be completed in about fifteen minutes. From Bengaluru to Mumbai, we can reach in roughly one hour.” The aircraft themselves are built for speed. “Our jets can fly at speeds of around 979 kilometres per hour. Commercial airlines typically cruise closer to 640 kilometres per hour.”

That time differential is the core proposition. Clients are not buying luxury alone; they are buying hours. The cost reflects that.

A Bengaluru–Mumbai charter starts at approximately Rs 4.5 lakh. Landing charges can exceed Rs 1 lakh for under 20 minutes on the ground, with parking charged separately. Depending on aircraft type and distance, one-way charters can range from Rs 7 lakh to Rs 25 lakh. Demand, executives say, is pragmatic. Time is a scarce commodity.

Tekriwal adds a perspective to the trend. “It is increasingly becoming functional rather than aspirational," Tekriwal says. "We are seeing a move toward a more customer-centric model, where private aviation is utilised as a ‘time machine’ for efficient, on-demand mobility across the country.”

The Indian air charter market is experiencing a significant shift, with a projected CAGR of 13-15%. Growth is being driven by rising affluence and a service gap in connectivity to Tier-2 and Tier-3 cities, she points out. 

Yet speed in the air often collides with constraints on the ground.

Tekriwal points to “limited infrastructure at smaller airports, fragmented ground-handling processes, regulatory complexity, and a shortage of trained crew and maintenance, repair and overhaul support in tier two and tier three cities”. 

Paul offers a blunt assessment of metro capacity. “Delhi and Mumbai airports are completely chock-a-block. The number of private jets is growing in India today, but parking space and hangar facilities are limited,” says Paul.

At smaller airstrips, the challenges are more technical.

Rajesh Kumar, Director of Blueheights Aviation, notes that many operate under visual flight rules. “Turboprop aircraft can operate from shorter runways, but jets require more robust infrastructure. Without proper facilities, growth will remain constrained,” says Kumar.

It is clear that infrastructure is not merely about convenience, it is also about operational risk. Shorter runways, limited navigational aids and congestion all increase complexity.

Financing and regulation

Kumar identifies financing as the sector’s most persistent structural constraint. “If financial institutions start supporting us meaningfully, India can become second only to the United States in private aviation. The demand is certainly there,” feels Kumar.

Bringing an aircraft into India can incur freight and associated costs of approximately Rs 1 crore. Banks remain cautious, often treating charter operators as riskier borrowers than scheduled carriers.

On regulation, however, Kumar strikes a more balanced tone. “The DGCA is actually very competent compared with regulators in many parts of the world,” Kumar says.

India also prohibits the registration of aircraft older than 20 years, even if they are well-maintained. Operators uniformly emphasise oversight. “All aircraft are regulated by the DGCA. We are under constant scrutiny. Safety is non-negotiable,” Paul says.

Tekriwal emphasises that safety requirements apply universally. Airworthiness, crew licensing and maintenance standards are mandated, she notes.

Yet transparency remains thinner than in some Western jurisdictions. India does not routinely publish operator-level enforcement statistics or detailed safety performance data for charter operators. Parliamentary discussions have previously highlighted staffing constraints within the regulator. As fleets grow and movements increase, inspector capacity becomes more than an administrative detail.

The decade’s accident data do not point to systemic failure. Annual totals remain contained. The largest fatalities in recent years have involved scheduled airlines rather than private jets. However, the sector is accelerating—in fleet size, flight frequency, and economic importance.

If expansion continues at double-digit rates, infrastructure investment, financing reform and greater transparency will determine whether private aviation matures into a stable layer of national transport or begins to show strain.

The numbers suggest stability. The trajectory suggests momentum. Whether those two lines continue to move together will define what India’s private aviation boom ultimately becomes.

(The writer is a Bengaluru-based senior aviation journalist)