Airnetz flies high, but its yachtnetz sunk

Arun Kumar
Nilabja Banerjee

Airnetz Aviation is a Mumbai-based, technology-focused travel company. Launched in 2007, it has come a long way since its inception, and is now managing aircraft assets worth $400 million and financing aircraft worth $100 million.

Two years after its launch, in 2009, Airnets started yachtnetz.com. It was supposed to be a means of branching out into high-end travel and entertainment business by using yachts. Yachtnetz was to help corporates organize their meetings, events, press conferences and parties on yachts hired exclusively for the purpose.

Airnets had promoted it as a viable option costing the same price as that of 5-star hotels. The idea was to tap into the potential growth sector of coastal tourism which had then registered a whopping 50% increase in business over the previous three years. DARE covered this story back in 2010.

It had roped in 25 yacht providers in India, and had access to over 2,000 of these super vessels across the world. The company had also aimed to promote coastal tourism in the country that is blessed with over 7,500 km of the coastline.

But that was not to be, and yachtnetz.com folded up a few years later. At the same time, Airnetz has managed to grow from strength to strength.

It is now well known in the corporate world for its chartered aircraft services called Airnetz Charter (airnetzcharter.com), and is used by Fortune 500 companies. With its offices in New York too, Airnetz Charter earned a revenue of $7.7 million last fiscal year.