FIFTY PERCENT OF EPIC AIRCRAFT PURCHASED BY VIJAY MALLYA
Vijay Mallya, as part of India’s continually emerging super rich, has reportedly purchased a 50% stake in U.S.-based Epic Aircraft.
Unlike past acquisitions which were made through Mallya’s investment group, UB Group, the purchase of Epic Aircraft was made by Mallya individually.
News of this purchase was not surprising because Mallya had reported in early September that “I am in talks with Epic [Aircraft] promoter” to the Mint newspaper.
Epic Aircraft is a manufacturer of private business jets. These jets are both single and twin engine crafts capable of carrying six to seven passengers.
Mallya hopes to initially turn his attention to satiating the growing demand for jets in the U.S. market. This trend is in line with many other luxury related trends taking place in the U.S.
In the automotive industry many consumers are discovering the allure of luxury car usage without the burdens of owning such machines and joining exotic car clubs. Similarly, many business consumers are turning to renting luxury cars and providing fantasy driving experiences as perks for clients, as well as themselves.
Mallya eventually hopes to cash in on these trends, as they relate to corporate aircraft, in the India market. While Corporate India lags behind the U.S. there is a very discernable trend developing towards higher use of corporate jets.
This move is not without its business and regulatory risks. Epic Aircraft’s planes have yet to receive full certification from the Federal Aviation Administration. Mallya will, no doubt rely on Epic Aircraft’s experience and business connections to expedite this process.
Mallya is no stranger to both large investments of a personal nature or luxury-oriented businesses. Prior to his purchase of Epic Aircraft, Mallya personally acquired a 50% interest in a Dutch-based Formula One team.
Additionally, there are rumors and speculation that Mallya is set to turn his attention to acquiring remote real estate for the purpose of developing resorts.
From Epic Aircraft’s perspective, Mallya brings very little to the table from the standpoint of industry-based knowledge. Mallya’s involvement could pay its largest dividends in the emerging market of India.
Mallya is very connected in his native country and is considered to be something of celebrity. This combined with Mallya’s many connections to the rich and famous in the Middle East could Epic Aircraft achieve brand recognition in these markets.
Epic Aircraft is already busy utilizing its new infusion of cash from Mallya and its new higher profile to enter into tentative agreement with aviation giant Airbus to develop various new technologies.
Written by Garrett Gregory. If you are interested in having me write stories for you or seeing my portfolio, please contact me at email@example.com.
If you are making a derivative use of the texts on DFW Elite Auto Rental you must specify "The content of this post was based, in full or in parts, on the work posted at DFW Elite Auto Rental" You must provide a clickable text link back to the original content on DFW Elite Auto Rental