- Indian entry-level jet market the biggest in Asia ($285 million est.)
- 83% of the total registered business turboprops fleet in the country are King Airs
- New Nextant products well-suited to operations in the sub-continent, particularly special missions variants
CLEVELAND, OHIO, NOVEMBER 18, 2013 – Nextant Aerospace (“Nextant”), maker of the Nextant 400XTi, the world’s only remanufactured business jet has announced today it has big expectations for the Indian market for both the 400XTi and its new release, the turboprop G90XT.
India has the largest entry-level jet fleet in Asia – 17% of the $1.7 billion market, worth serving 350 airports. Deliveries in India have doubled in the past five years compared to the previous five years.1
To maintain this rapid growth – and the third largest GDP (PPP) in the World – India’s business leaders are continually striving to improve returns on their aviation investments. The 400XTi is the perfect business tool for the Indian market, matching or outclassing the competition in range, speed, cabin comfort and versatility with lower operating costs - and all for just half the purchase price.
“The Nextant value proposition is perfect for India,” said Arun Sharma, Managing Director for Aviators, Nextant’s exclusive sales agent in India. “It’s a new and exciting company that Indian customers should really take a look at. Their remanufacturing process is a winning formula that has already scored major sales successes worldwide, most recently a complete US fleet-replacement order worth $202 million. It’s the easiest way by far to put class-leading jet and turboprop products in the hands of cost-conscious Indian owners and operators.”
Highlighting Nextant’s use of the latest technology in proven airframes, Sharma continues: “Nextant’s aircraft are ideal for the particular conditions of flying and doing business in South Asia with impressive hot & high performance and go-anywhere capability. Prospective customers owe it to themselves to measure Nextant value against the cost buying new. As an owner/operator myself I invite everybody to come and see the demonstrator during its forthcoming sales tour.”
“We anticipate strong growth potential in India” said Nextant President Sean McGeough. “This is an evolved aviation market which understands the functional nature of business aviation. With a rapidly growing economy and the third largest GDP (PPP) in the world, government and business leaders are looking for time-efficient and cost-effective travel to support their growth strategies. The 400XTi has the range to travel point to point, anywhere on the subcontinent, even in the summer heat; and our upcoming G90XT is poised to take over where older turboprops leave off.”
Current turboprops in India have an average age of 17 years2 so operators concerned about obsolescence and declining residual value are expected to take a particular interest in the G90XT’s Garmin 1000 cockpit, next-generation GE H80 engines and quieter cabin. The new aircraft’s versatility and rugged dependability – especially in hot & high conditions – make it a strong contender to rejuvenate India’s hardworking turboprop fleets, including special missions versions. Its performance on the balance sheet is equally suited to a rapidly-developing market, with purchase price and operating costs offering major advantages over equipment currently in service.
About Nextant Aerospace
Nextant Aerospace is recognized as the first company in the world to introduce aircraft remanufacturing to the business jet market. The Nextant 400XTi is a completely rebuilt Beechjet 400A/XP with Williams FJ44-3AP engines and the Rockwell Collins Pro Line 21™ integrated avionics suite. The new aircraft also has major aerodynamic enhancements and an improved engine mounting configuration with redesigned nacelles and pylons. The 400XTi is delivered with a two-year full-aircraft warranty and after-sales support provided by a global network of owned and authorized service centers. The same winning combination of new tech in remanufactured airframes is expected to repeat this success with the turboprop G90XT, powered by the next-generation GE H90 engine. Founded in 2007, Nextant is based in Cleveland, Ohio. Nextant is a Directional Aviation Capital company. For more information, like us on Facebook, follow us on Twitter @nextantaero or join us on LinkedIn.
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