JetSetGo, a private jet operator in India, is planning to raise $900 million to acquire 12 new mid-sized twin-engine aircraft and expand its reach to Europe. The company also has plans for an initial public offering (IPO) by 2027-2028, according to Kanika Tekriwal, founder and CEO of JetSetGo.

“We are observing a preference for larger aircraft among our members,” said Tekriwal.

“To cater to this demand, we are acquiring new planes exclusively for our membership program, which offers fixed-hour subscriptions of 200 to 300 hours per year.”

JetSetGo will finance the aircraft acquisition through a blend of debt, equity, and customer funding. The company plans to lease the planes into Gift City, India, while retaining ownership. The initial phase aims to raise $100 million through debt and equity, with the remaining balance funded by customers.

“Currently, 80 per cent of our flights are domestic,” Tekriwal said. “With the new larger aircraft, we aim to expand our international presence, particularly in Europe.”

JetSetGo currently operates a fleet of 11 aircraft and flies to destinations around the world, including New York, Japan, and Korea.

The company plans to phase out some of its existing aircraft in the next two years and collaborate with three manufacturers to order twelve new twin-engine jet aircraft. Deliveries are expected to begin in the last quarter of 2025 at a rate of four planes per year. These new aircraft will have a minimum range of six hours, allowing for one-stop flights to Europe for members.

JetSetGo’s revenue has seen significant growth. In FY19 (Pre-Covid), their revenue stood at ₹106.90 crores. This figure jumped to ₹341.00 crores in the current fiscal year (FY23-24), reflecting a substantial YoY growth of 218.99 per cent. Looking ahead, JetSetGo expects its revenue to reach ₹400.00 crores in FY24-25, representing a further increase of 17.30 per cent year-over-year.

“Our initiatives in urban areas, particularly in Advanced Air Mobility (AAM), position us to tap into a new market,” said Tekriwal. “This trajectory suggests a potential move towards going public by 2027 or 2028.”

In a separate initiative, JetSetGo has partnered with Horizon Aircraft,, and Overair to acquire 150 electric and hybrid-electric aircraft valued at $780 million, with options for more. This project focuses on enhancing connectivity to smaller cities in India and promoting advanced air mobility for short-distance travel.

By expanding its fleet and focusing on advanced air mobility, JetSetGo aims to capitalize on the growing demand for travel among affluent individuals beyond major cities in India, she said.