Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,895.4523.35
Stock Analysis, IPO, Mutual Funds, Bonds & More

Dassault says jet market is set to take off

With increasing number of billionaires and fast-growing economies in Southeast Asia, the business jets category has begun to see an increase in interest for the first time since the 2008 global meltdown.

, ET Bureau|
Mar 15, 2018, 11.21 AM IST
0Comments
HYDERABAD: Dassault Aviation, the French maker of Falcon private jets and Rafale warplanes, is seeing green shoots in the business jets market in Southeast Asia and Northern Europe along with recovery in benchmark second-hand trading, said Falcon director Vadim Feldzer. With increasing number of billionaires and fast-growing economies in Southeast Asia, the business jets category has begun to see an increase in interest for the first time since the 2008 global meltdown, Feldzer said on the sidelines of the aviation summit held in Hyderabad.

“Last year, we sold 38 Falcons worldwide as against 21 Falcons sold in 2016. It shows that the market is recovering, for the first time after 2008 global economic crisis when the global market for business jets was severely hit, particularly in the US, which is the reference market,” Feldzer told ET.

He said the Northern Europe and Southeast Asian markets were evolving as stronger economies and that Dassault Aviation had in the recent past sold Falcon business jets in Philippines, Malaysia, Singapore and Thailand. The US market had also started picking up after a few bad years, he said.

“Southeast Asia has become one of the most active and attractive markets for us and we are accordingly investing heavily in this market. The Indian market, which was very slow for the last three years, has seen activity in the last couple of months, where we sold four pre-owned Falcons, which is a good tangible sign for recovery in new aircraft sales,” he said.

On the sidelines of Wings India, the civil aviation exhibition last week, Dassault Aviation held talks with a few highend customers who showed interest in buying Falcon 8X ultra long-range business jet, the Falcon director said. These customers were from Hyderabad, Delhi and a few others cities of India, he said.

With a fleet 26 Falcon aircraft in India, and more than a third of market share in high-end jets, Dassault Aviation hopes to at least double the fleet size over the next decade given the growth in the economy as well as emerging billionaires.

Feldzer said majority of new Indian Falcon orders were for longer range models such as Falcon 8X and the very longrange Falcon 7X, owing to unmatched ability to fly out of short hard-to-reach airstrips with full range performance, even at high altitudes and extreme temperature conditions, which makes them more agile and flexible.

Also Read

Dassault-Reliance kicks off Falcon jet production

ABB, Dassault Systèmes enter global software partnership for digital industries

No scandal in Rafale deal, says Dassault CEO; defends role for Reliance

Dassault to showcase Falcon 2000S alongside Rafale at Aero India

Government did not pay HAL for delivered products, but paid Dassault: Ahmed Patel

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service