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If time is the essence of business, then Mr T. S. Kalyanaraman, may well have made a profound investment in a “time machine.”
The Chairman and Managing Director of the Rs 8,500-crore Kalyan Jewellers, based in Thrissur, is now the proud owner of the first privately-owned jet in Kerala.
FIRST JET
The State does have a few charter operators who own jet aircraft but this is the first in the private jet category. The aircraft is the 61st privately owned jet in India.
The decision to acquire the Rs 30-crore, seven-seater (including two pilots) Phenom 100 manufactured by Embraer of Brazil was a conscious one, Mr Kalyanaraman told Business Line .
The aircraft is not a luxury; on the other hand, it is proving a necessity since it helps save valuable time, which, in fact is money, he said.
“Most of the towns where we have showrooms and those where we plan to open new stores don't have direct flights and lot of time is wasted on transit,” he said. The group has 30 retail stores across south India.
Even granted that there are flights, the timings have often proved unsuitable to match appointments.
FLEXIBLE TIMINGS
“We feel that our top-level management and directors must have more flexible itineraries to save on transit times to help us achieve the growth plans and also ensure effective monitoring of business.”
Mr Kalyanaraman says the private jet not only allows him to save on the reporting time and associated rigours but also ensures coverage four or five branches in south India in a matter of 10 to 12 hours.
“Normally this would take me four to five days,” he said emphasising the precious time he is able to save now.
What has hastened the decision in favour of owning a private jet is the chaotic nature of commercial air travel these days.
OPERATIONAL OVERHEADS
“You never know if the next flight will take off or land in time. Not to speak of the cancellations which are becoming the order of the day.”
The Phenom 100 can fly three-and-a-half hours without refuelling. The average fixed annual costs would add up to Rs 2.5 crore, and covers insurance, maintenance contract, pilot expenses and office expenses.
A variable expenses component of Rs 50,000 an hour of flying also has to be factored in. The aircraft is stationed at a hangar owned by the Airport Authority of India at the Cochin international airport.
The Phenom 100 can soar to 41,000 feet in 25 minutes flat. It needs no more than 4,000 feet of runway space for takeoff and landing.
There are more than 250 airports in the country admeasuring to this size. BMW has done up the interiors of the aircraft that features a conference hall on board.
The order for the aircraft was placed May 5 last year, and terms and documentation were negotiated by Titan Aviation.
The aircraft was taken delivery of at the Brazil plant on December 22 and it was flown above 10 countries for 40 hours to reach Delhi. It landed at the Nedumbassery airport in Cochin on February 13. The captain of the aircraft is Mr Pradeep Menon from Palakkad who has logged 5,000 flying hours.
The co-pilot is Mr Sojan Soman from Thrissur with 2,000 hours to his credit. Both were given special training to fly this engine by Embraer at the US and the UK.
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