Adani Group is doing mega shopping in the new year... 6 business jets will be included in the fleet
According to the news published in Mint, two people with knowledge of this matter said that the process of purchasing six Pilatus PC-24 aircraft has been started from the group's side.
The Kalamkar News, Pilatus PC 24 Aircraft: Another big news is coming regarding Adani Group in the new year. The group is planning to double its business jet fleet. The reason given for purchasing the group's jet was so that its top executives had enough aircraft to fly.
After getting a clean chit from the Supreme Court in the allegations made by Hindenburg Research, Adani Group is planning to expand systematically. According to the news published in Mint, two people with knowledge of this matter said that the process of purchasing six Pilatus PC-24 aircraft has been started from the group's side.
The group currently has this aircraft
Currently Adani Group has six private jets. Two of these are Embraer Legacy 650, Bombardier Global 6500, Bombardier Challenger 605, Hawker Beechcraft 850 and Beechcraft B-200. Apart from this, the group also has two helicopters. The aircraft will be purchased for resale by Karnavati Aviation Private Limited.
Karnavati Aviation is the aviation arm of the group, it houses all its jets. An official of the private jet operator company said that the company is not buying new planes but will buy them for resale. It is estimated that purchasing six aircraft will cost more than Rs 300 crore.
Rs 450 crore will be spent on new planes.
An official, on the condition of anonymity, said that if the company had decided to buy new planes, then about Rs 450 crore would have been spent on six new Pilatus PC-24. No response was given by Adani Group in this regard.
According to the news published in Mint, an executive of Adani Group has confirmed the aircraft purchase plan. Also said that the planes will start arriving soon. He also said that the delivery of all six aircraft may take 18 months.
Features of Pilatus PC-24 Plan
Pilatus PC-24 has been developed by Pilatus Aircraft of Switzerland. It has been branded as a 'super versatile jet'. The cargo capacity of the aircraft is 1,406 kg and it can go up to a height of 45,000 feet. According to the company, the maximum cruise speed of the 10 seater aircraft is 440 knots true airspeed (KTAS).
What was the Adani Group-Hindenburg dispute?
On January 24, 2023, American firm Hindenburg Research accused billionaire Gautam Adani's group of manipulating the share prices of companies.
The decision in this case was given by the Supreme Court after almost a year on January 3. After the Hindenburg report, the share price of Adani's companies dropped to less than half.
The market cap of the group had fallen to less than half. Before the report came, the market cap of Adani Group was around Rs 19 lakh crore, which is now around Rs 14 lakh crore.