Kanika Tekriwal has been working in the aviation industry since she was 17 years. She started working in the aviation industry when private jets were very few and so far in the country. She has worked in abroad besides India and has witnessed the industry growth and shrinks and also learned new things about the industry. JetSetGo is the result of her diverse experience in the aviation industry. JetSetGo a New Delhi-based India’s first online marketplace for private jet and helicopter charter was co-founded in 2013 by Kanika Tekriwal and Sudheer Perla.
How JetSetGo’s foundation laid?
Before founding JetSetGo, Kanika noticed the frustration over the past some years of customers with charter brokers and operators while dealing with them. People who desired to use a private jet had a very few options available either to contact a broker based on particular recommendations or through contacting an aircraft operator or the last but not the least option available, is to go with the Google results. Lack of transparency and non-availability of charter planes the clients pay more amount (including commission). Brokers recommend jets and helicopters majorly to maximize their commission irrespective the clients’ requirements. Likewise, if the customer inquired from an operator, then the suggestion would be to hire an individual aircraft operated by that operator.
Thus how JetSetGo’s foundation laid as per the need of the customers for complete and professional charter services from a company providing charter services in the variety of aircraft but transparency in pricing system would be a concerned part. In India, the private aviation industry is still nascent. Usually, the agents suggest that aircraft and airline where they can earn more brokerage from the consumers. Nowadays, the airline industry is also applying such marketing tactics. JetSetGo is making the private jet charter very economical and simple for the consumers as per their requirement not according to the brokers and their brokerage.
JetSetGo’s Funding and Investment:
An interactive technology platform JetSetGo facilitating customers across India in finding charter aircraft and helicopters according to their requirement. JetSetGo covered almost 80% of India’s private jet fleet. In this journey, JetSetGo attracted some big players of the market to invest in their aviation company. The aviation company grabbed an undisclosed amount of deal in just a 50-minute phone call by YouWeCan Ventures owned by Yuvraj Singh, the Indian cricketer.
No. Of Investors
Jul 23, 2015
Dec 14, 2015
- Puneet Dalmia
- YouWeCan Ventures
“Initially it took time for people to take me seriously for the business I am in and I did receive remarks such as ‘you should take up baking cupcakes’ and the likes. Sometimes when I am assertive I am considered arrogant whereas a man being more assertive than me is considered passionate. But these are very non-consequential things,” said Kanika Tekriwal.
Achievement and Innovation of JetSetGo:
Kanika describes, JetSetGo as the “Uber of the Indian skies”. Recently, JetSetGo acquired Indo Pacific Aviation Limited, country’s oldest non-scheduled aircraft operator (NSOP) for operations in India. The aviation company claimed that it is India’s first and only aggregator for private jet and helicopter charter and air ambulance. Also, the company claimed its average net worth of customers is $100 million. JetSetGo is enabling the customers with the choice of 16 aircraft, the customer may travel with a short flight anywhere in between Rs 200,000 ($3,000) and may opt an overseas round trip for Rs 20 million ($300,000).
“As the oldest NSOP and having truly created the aircraft management market in the country, Indo Pacific has been instrumental in many ways in the growth of the private jet and helicopter market in India. This acquisition now gives a significant boost to our ability to grow our fleet and offer unique services and next-generation aircraft for personalized on-demand mobility,” said Kanika Tekriwal.
Now, JetSetGo is providing services to high-level clients ranging from business executives to tourists to destination weddings to medical emergencies to politicians to Italy’s famous Ferragamo family. JetSetGo also provides management services to the owners of the aircraft, such as taking care of in-flight and on-ground services, e.g. maintenance checks and safety. The company claims to own the country’s largest fleet of private jets and helicopters’ services distribution for a variety of purposes.
Contenders for JetSetGo:
There are various contenders of JetSetGo in the market some of them are GoChoppers Services Pvt. Ltd., recently raised an undisclosed amount of funding, BookMyCharters, Quest 2 Travel.com, JetServe, Confident Airlines, JetFleet, and JetSmart. JetSetGo has exclusive marketing contracts for 16 of its aircraft, such as Falcons, Hawkers, Challengers, etc and manages 7 to 18 seats and it operates 4 to 20 flights a day from anywhere, this is the reason why Kanika calls JetSetGo the largest fleet in India.
The company is yet to face its toughest moment. “Every day you wake up with 100 new problems and go to sleep having solved 50 of them. What seemed difficult a year ago is now a joke and gets done in a jiffy. Similarly, every small and big victory is my biggest success, getting excellent feedback from a customer is a success, getting a plane repaired before target time is a success, having a happy time is a success, showing 7X growth with excellent EBIDTA is a success, just building JetSetGo the way we are is success,” said Kanika.
The aviation industry is not an easygoing track to break into, where traditionally it is dominated by men. Kanika entered the male-dominated market and started JetSetGo. Rapidly, the company started growing to become India’s largest private aviation company and increasing the global level investor focussing on hybrid electric planes, flying taxis, and disruptive transportation models. In the last financial year, the company executed 2,800 aircraft movements alone offering cost-effective and seamless air connectivity.
India could hold the position of the world’s third-largest aviation market by 2026 and overtake the U.K. as the Air travel in India grew faster than 20% last year. In 2015, the domestic private aviation business was of Rs 1,800 crore and by 2020 it is expected to grow multi-fold by Rs 5,000 crore.
“We will soon be the only travel platform for high-end domestic travel and experiences,” she says. “Our focus is to cater to the $18 billion rapidly growing inbound travel market and to the travel needs of the Indian UHNIs who are expected to triple in number in the next 5 years. They have very different travel needs, which the current ensemble of online travel companies and startups can really not cater to effectively.”
(Featured Picture credit- JetSetGo’s Facebook Page)
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Tags: Aviation Industry, BookMyCharters, Confident Airlines, Craft Driven, Craft Driven Market Research, Falcons, Hawkers, Indo Pacific Aviation Limited, JetFleet, JetServe, JetSetGo, JetSmart, Kanika Tekriwal, market research, Puneet Dalmia, YouWeCan, Yuvraj Singh