Slowdown grounds business jets as the rich tighten purse strings
NEW DELHI : Indian industrialists looking to tighten their belts amid the economic slowdown are giving up business jets as they cut the flab.
Anil Ambani’s Reliance Transport and Travels has leased one of its three business jets, a 13-seater Global 5000, to a global charter company that has stationed the aircraft in Bengaluru. “This is the same aircraft that Anil Ambani used to fly in for his travels,” said a person with knowledge of the matter. The company has two more fixed-wing planes and a helicopter in its fleet, according to a regulatory filing.
