Considered one of the best status symbol, the number of privately-owned aircraft in the Indian corporate sector have risen from about 50 -- two years ago -- to 120 currently. And, about 600 pilots are required to fly these machines, though only 450 are available.
Aviation sources say that the scarcity has attracted about 140 foreign pilots to India in the past two years and also sent pilots' salaries skyrocketing.
They are now paid an average monthly package of about Rs 450,000 to Rs 600,000. Besides this, concepts like hourly flying rates and 'on-demand pilots' are also becoming common.
Not surprisingly, both, pilots as well as the aviation companies, are cashing in on the current boom.
"The trend of part-time pilots is on the rise. People are leaving airline jobs and flying aircraft from the corporate sector, where, if they work on an hourly basis, they get around Rs 10,000 per hour, as against Rs 4,000 to Rs 5,000 per hour in airlines,"says Yashraj Tongia, promoter, Yash Air Limited, a private pilot training academy.
He added that his company is currently setting up a team of 30 pilots to lease out to corporates on hourly basis or on short-term
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