Prince Air will allow members to fly unlimited on their private jets for a monthly subscription fee
New Delhi: An aviation start-up based in New Delhi plans to offer subscription-based airline services. The service provider, Prince Air, will let customers travel unlimited times on private jets across metros in the country.
Private is expensive and accessible only to the super wealthy and corporates in India. Sanket Raj Singh, founder Prince Air, promises to fly members at a fraction of the cost on private jets in India and make the private jet experience accessible to all.
“We have seen disruptions in taxi, also retail and hospitality sectors in India amongst other industries. Technology is changing business landscapes across the world”, said Singh, adding, “Air transportation has not seen any disruptions until now. The Indian aviation industry is certainly ripe for digital disruptions”.
While Singh is tight-lipped about the monthly subscription cost, he promises it will be a fraction of what it costs to charter jets. Currently, the cost to charter a private jet can range anywhere between Rs 1.5 lakh to Rs 3 Lakh per hour.
“The Prince Air subscription model will allow members to fly multiple times and sectors at a price which private jet companies charge to charter their jets for only an hour. Prince Air has made the private jet experience affordable and certainly more economical than the current private aviation options available in India. Our dream is to change the way people fly is coming to life. We will bring down the cost of traveling on private jets by up to 80 to 90%," said Singh.
The subscription available will be limited and Singh claims he has already filled up a substantial number. “The Prince Air experience is similar to flying private. Our clientele would include businesspeople, frequent fliers, celebrities, honourable ministers, sportspersons, entrepreneurs, investors amongst others. Members will be able to fly in the company of like-minded travellers, which could even lead to opportunities and friendships too. The luxury real estate segment has also responded well," said Singh, who is in talks with a few high-end real estate players in Mumbai and Delhi.
With unlimited flights, Singh claims the service will also include a chauffeured luxury car service such as a Mercedes or a BMW for pick up and drop. “We are in discussions with several companies and will be closing our first deal with a well-known hospitality brand as well, which will offer exclusive services across their hotels only to Prince Air members”, Singh added. The entrepreneur is in talks with investors based in the US to raise between 15 to 20 million US Dollars. Interestingly, some of these companies are giants of the aviation industry.
These are turbulent times for the Indian Aviation. Despite challenges, the Indian aviation sector continues to be one of the fastest growing ones in the world. India's domestic air travel market is now a 100 million strong and growing. Airlines, such as Indigo, Go-Air and Vistara have also embarked on ambitious expansion plans by adding to their fleet to grow their networks. The subscription model in the aviation industry is completely unknown as of now.
There will be unlimited flights for a monthly subscription fee. Mainstream airlines are struggling due to the increasing jet fuel costs. The question is, how will a subscription-based airline - with limited room to change pricing - be immune to fluctuations in this critical variable?
Singh explains that the carefully calculated subscription cost, will ensure the company will break even within two- three years. The app-based booking process for Prince Air is completely digitised.
"With Prince Air, members will be able to enjoy an entirely new experience. Travellers will be able to take advantage of the new and easy arrive-and-fly process which comes with every membership. From booking to boarding the entire service will be customised through the app on your device' Members will be able to skip airport security lines and get VIP access while checking in and boarding. When flying Prince Air, members will only need to arrive at airports 15 to 20 minutes before departure. Private jet flights would be accessed from a different entry to the airport without any hassle. A dedicated member services team to assist members will be available at all times”. Singh said.
“Time is money and flying with us will help save precious time. Our innovative subscription model is a game changer, which will turn weeklong trips into day trips and day trips will become home-by-dinner time. With Prince Air, a member would be able to save at least 2-3 hours on a Delhi-Mumbai- Delhi round trip”, assures Singh.
The businessman said that initially there will be a fleet of six Bombardier or Embraer jets which will seat 16-20 passengers. "Once we find the right aircraft, we will make a down payment of 15% to 20% and the rest would be financed," said Singh.
According to him, operations will begin in the next 10-11 months in Delhi, Mumbai and Bengaluru.
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