SINGAPORE (Feb. 19, 2008) - Hawker Beechcraft Corporation (HBC), the world’s leading business, special-mission and trainer aircraft manufacturer, announces an order from BJETS for 20 new Hawker business jets (11 Hawker 900XP and nine 850XP jets), with options for an additional 10 aircraft. The total value of the order with options is in excess of $450 million. The aircraft will serve throughout India and Southeast Asia.
BJETS is a private company that provides innovative business aviation services to corporations and high net-worth individuals in Asia. Offering their services in India and Southeast Asia, the new company is based in Mumbai, India and Singapore, with a flight operations center based in the new Hyderabad International Airport in India, and focuses on fractional, block charter and aircraft management services. Operations in India are scheduled to begin by the end of the first quarter 2008. BJETS was founded by entrepreneur Bala Ramamoothry and the Tata Group, one of India’s largest and most respected business conglomerates. Mark Baier, a well known and highly experienced leader in the business aircraft industry, will lead BJETS as CEO.
“BJETS represents the entrepreneurial spirit that is prevalent in India and Southeast Asia, and we are excited that they will utilize our Hawker aircraft for their new service,” said Jim Schuster, Hawker Beechcraft Corporation chairman and CEO. “With the increase in general aviation activity in the region and their experienced team, BJETS is a pioneer in introducing fractional ownership in the region and is well positioned to become a leading service provider of private jet travel.”
The growing Indian economy, which is now the third largest in Asia behind China and Japan, has created a dramatic increase in general aviation activity and travel needs throughout the region. In 2007 India grew to become the third largest market for HBC products behind the United States and Brazil. HBC is committed to growing its brand in the region through world class, in-country sales and support partnerships. Hawker aircraft are supported in the region by InterGlobe, who will be holding a ribbon cutting ceremony on Thursday, February 28th to open their new Hawker Beechcraft Authorized Service Center in Delhi. The Government of India Minister for Commerce and Industry, Kamal Nath and Minister for Aviation, Praful Patel will be participating in this important event.
“The Hawker 900XP and 850XP are the latest evolution of the best selling midsize jet of all time,” said Mark Baier, chief executive officer, BJETS. “Their industry leading performance and exceptional reliability is legendary and we want only the best for our customers. In addition, Hawker Beechcraft’s global network of authorized service centers will ensure our customers receive the service and support they deserve.”
As a result of the double digit Asian market growth in 2007, Hawker Beechcraft has also strengthened their international presence across the region and opened a Divisional headquarters in Singapore with outlying offices in Australia, China, Middle East and Africa. The combination of increasing global wealth, a weak U.S. dollar and the realization by global leaders that private jets are key assets to their success, has helped Hawker Beechcraft grow its percentage of international business to approximately 60 percent.