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JetSetGo's Sky-High Aspiration: Gearing Up for IPO with a US$900M Fleet Expansion

JetSetGo, India's premier private jet operator, is soaring to new heights with its ambitious plan to raise US$900 million for the acquisition of 12 new mid-sized twin-engine aircraft. This strategic move is not just about expanding the company's fleet but also about setting the stage for a significant Initial Public Offering (IPO) slated for 2027-2028.

JetSetGo's Strategic Expansion

Founded by Kanika Tekriwal, JetSetGo has revolutionized private aviation in India by offering unparalleled service and convenience. The company's decision to acquire 12 new aircraft is a response to the growing preference among its members for larger planes. These aircraft will be exclusively available for JetSetGo's membership program, which offers fixed-hour subscriptions ranging from 200 to 300 hours per year.

Financing the Fleet

The financing for this expansion will be a blend of debt, equity, and customer funding. JetSetGo plans to lease the new planes in Gift City, India, while retaining ownership. The initial phase of fundraising aims to secure US$100 million through debt and equity, with the remaining balance funded by customers.

 Domestic Dominance and International Aspirations

Currently, 80% of JetSetGo's flights are domestic. However, with the new larger aircraft, the company aims to expand its international presence, particularly in Europe. This move is expected to cater to the increasing demand for private travel and provide one-stop flights to Europe for members.

 Fleet Modernization and Collaboration

JetSetGo has a fleet of 11 aircraft that fly to places across the world, including New York, Japan, and Korea. Over the next two years, the company plans to phase out some of its existing aircraft and collaborate with three manufacturers to order the new twin-engine jet aircraft. Deliveries are expected to commence in the fourth quarter of 2025, with a rate of four planes per year. These new aircraft will have a minimum range of six hours, enabling convenient travel to Europe.

 Financial Growth and Market Position

JetSetGo's revenue has seen significant growth, from ₹106.90 crores in FY19 to ₹341.00 crores in the current fiscal year, reflecting a substantial YoY growth of 218.99%. In FY24-25, the company forecasts revenue to reach ₹400.00 crores, a 17.30% rise over the previous year.

 Advanced Air Mobility Initiatives

In addition to expanding its fleet, JetSetGo is also focusing on Advanced Air Mobility (AAM) initiatives. The company has partnered with Horizon Aircraft, Electra. Aero and Overair have agreed to buy 150 electric and hybrid-electric aircraft for $780 million, with possibilities for additional. This initiative intends to improve connectivity to India's smaller cities while also promoting modern air mobility for short-distance travel.

The Road to IPO

JetSetGo's trajectory points to a potential public offering in 2027 or 2028.The company's initiatives in urban areas, particularly in AAM, position it to tap into a new market and capitalize on the growing demand for travel among affluent individuals beyond major cities in India.

Conclusion

JetSetGo's aerospace ambition is a bold statement in the private aviation industry. The planned US$900 million investment for new aircraft pre-IPO reflects the company's commitment to growth, innovation, and customer satisfaction. As JetSetGo prepares for its market debut, it stands as a beacon of progress in India's aviation sector, ready to take on the global stage and redefine luxury travel. With a clear vision and strategic investments, JetSetGo is not just flying high, it's setting a new standard for the future of private aviation.