MC EXCLUSIVE Eternal CEO-backed LAT Aerospace buys Bombardier private jet; Deepinder Goyal denies deal

Bombardier Global 5000 jet

Eternal CEO Deepinder Goyal-backed LAT Aerospace has bought a Bombardier Global jet, multiple people familiar with the matter have told Moneycontrol.

The Bombardier Global series aircraft has been parked in the Delhi airport’s VIP bay since June 2025, and is scheduled to operate today, i.e. July 16, it is learnt.

The ground handling and engineering of the aircraft is handled by Indamer MJets Airport Services and Bird Execujet Airport Services. Moneycontrol could not ascertain the exact make and model, the registration of the aircraft, and the purpose of its flight today.

Goyal-backed firm's purchase of a private jet comes days after he registered a 'super-luxury' apartment in DLF’s The Camellias in Gurugram for Rs 52.3 crore. As of June 2025, Deepinder Goyal has 36.95 crore shares in Zomato or 3.83 percent stake. At the current market price, this stake is valued at Rs 9,847 crore, taking Goyal’s networth to $1.6 billion, as per Forbes.

In an email response late on July 16 to queries sent by Moneycontrol Surobhi Das said that LAT Aerospace is a start-up focused on making planes for regional aviation, not in the business of buying private jets.

However, reacting to the story on X (formerly Twitter), Goyal said, "LAT is a startup, and has not bought any private jet. LAT is about making planes for regional aviation, and is not in the business of buying planes."

A Bombardier Global 8000 equipped with Ka-band internet hardware to support inflight Wi-Fi comes with a list price of $78 million. The list price for a new Bombardier Global 6500 is typically around $56 million. However, pre-owned Global 6500s can range from $30 million to $45 million, depending on factors like condition and maintenance history.

Owning a private jet

As per private aircraft ownership laws in India, individuals must register an Indian corporate company and obtain a Non-Scheduled Operator's Permit (NSOP) from the Directorate General of Civil Aviation (DGCA) using form CA-28, providing necessary documents like the customs clearance certificate, proof of ownership, and lease agreements, if applicable.

The registration process also involves submitting a notarized copy of the lease agreement and ensuring compliance with Indian aviation regulations.

A Non-Scheduled Operator's Permit, commonly referred to as an NSOP, is an essential license granted by the Director General of Civil Aviation (DGCA) in India.

This permit enables operators to provide non-scheduled air transport services, which encompass both passenger and cargo flights, as well as charter services.

Furthermore, while the Integrated Goods and Service Tax (IGST) for jets for personal use is 28 percent, the IGST for commercial private jets is only 5 percent.

Industry executives said there were 40 NSOPs in India in 2007 but as the economy expanded, many companies have bought private aircraft, resulting in a jump in the number of NSOPs to 139 by 2013, with about 80 percent being single aircraft operators.

A sluggish pace of growth had led to businesses cutting costs, and planes started getting returned, leading to a fall in the number of NSOPs to 110. There are 114 non-scheduled operators across India on DGCA's list as on June 10, 2024.

Goyal’s aviation bet

Last month, Goyal launched LAT Aerospace, according to a LinkedIn post by Surobhi Das, the cofounder of the aviation startup.

Goyal’s bet on the aviation venture is expected to redefine regional air travel in India, which is at a nascent stage, as uncertainty remains over regulatory clearance, technological capability and public adoption.

"While building Zomato and flying across India, Deepinder and I kept circling back to the same question: Why is regional air travel still so broken – expensive, infrequent and mostly out of reach unless you live in a metro? India has 450 + airstrips – but only 150 see commercial flights," Das said in her post last month.

The startup has reportedly raised about $50 million, with $20 million invested by Goyal. The company has also announced plans to hire aerospace engineers, systems designers, and aviation enthusiasts to help bring its vision to life.

Goyal’s diverse interests

Apart from food delivery platform Zomato, grocery delivery platform Blinkit and LAT Aviation, Goyal also launched a new personal venture last year called Continue, focused on health tracking and mental wellness. This venture, distinct from Zomato, is being built under the name Upslope Advisors Pvt Ltd.

Govt’s efforts to woo private jet owners

In the last few years government initiatives like the GIFT City’s aircraft leasing and financing scheme, reduced customs duties and GST for NSOP, and support in addressing regulatory hurdles have made private jet co-ownership models more enticing on India. The basic customs duty for private jets ranges from 2.5-3 percent, and the Social Welfare Surcharge is about 10 percent of the customs duty have helped drive private jet ownership in India.

As of 2023, India had the largest fleet of private jets in South Asia and the third largest in the Asia Pacific, with wealthy Indians owning over 151 registered private jets.

According to Statista, an online platform specialising in data gathering and visualisation, the global business jet market was worth over $24 billion in 2020, which is projected to reach $37 billion by 2028.

A rising number of wealthy Indians are driving demand for private jets. The ultra-high-networth (UHNI) population in India is projected to rise by 50 percent by 2028, setting up the private jet market for a significant expansion. This growing segment is also being recognised by authorities, and infrastructure and facilities are being built to support the industry.

In 2020, Delhi’s Indira Gandhi International Airport launched India’s first General Aviation terminal for private jets, as India’s first FBO or fixed-base operator. The 550 sq mt terminal was built exclusively to handle business jets, with the capacity to handle as many as 150 flights a day. Besides the usual offerings of airports, this private jet terminal has a small retail area with duty-free shopping. There is also a 2,600 sq mt parking area that can accommodate 50 vehicles, with provisions for 55 aircraft to be parked.

In 2022, Mumbai’s Chhatrapati Shivaji Maharaj International Airport revamped its General Aviation terminal exclusively for private jets. The terminal can handle over 50 passengers every hour for quick check-ins, and has specially-trained staff to receive passengers around the clock. There is also a lounge, bar and buffet serving global cuisines. The terminal also provides butler service for guests who can book meeting and conference room facilities.

In December 2022, Prime Minister Modi inaugurated a 40,000 sq ft luxury business jet terminal at Kochi International Airport and in September 2024, Telangana’s Rajiv Gandhi International Airport unveiled a new General Aviation terminal catering to private jet operations.