Manav Singh’s ‘fractional ownership’-based airline seeks to pioneer an idea in India, which already is fairly established in the West. Inspired by the success of NetJets in the US, the maverick US-educated financier and marketer has set out to woo the rich and mighty in India. But he has identified that the quickest way to develop the market for his Cessnas is going to the industrial cities of Punjab. A high degree of awareness among the Punjabi industrialists about the concept of fractional ownership seems to be working well for him. The response from that one state alone, he claims, has been overwhelming. He (indicates) is now considering the idea to stationing one aircraft permanently in Ludhiana. The tycoon has plans to have at least 60 customers by the year-end. Seeing the way his idea is catching up, his target does not appear to be a runaway dream. And why not when he is offering you a luxury to own a piece of an aircraft without any management responsibilities. But beware. The big boys in the Punjab, know how to drive a real hard bargain. Manav will have to find a way to avoid becoming a gilded low-cost airline.V-goodRaghupati Singhania is a busy man charting out plans for his industrial and automotive V-belts manufacturing unit Fenner. The tycoon is targeting a turnover of Rs 500 crore by 2008-09 and is striving to do whatever he can in his capacity to reach his target. Singhania is considering the option of acquiring companies operating in the industrial belts and oil seals segment. He has short-listed three overseas companies and a couple of domestic companies for acquisition. But if this do not work out, the idea of a greenfield project is also a possibility. But all this will take at least two years to be executed. But apart from his highly focused approach towards V-belts and the like, Singhania is also testing some new waters. He is looking to foray into automotive accessories where using his presence in the automotive belts segment, this foray might give him the leverage for growth plans. dilipcherian@hotmail.com
