Yuvraj Singh backed JetSetGo, a Delhi-based marketplace for private jets and helicopters has taken yet another step towards its aim to revolutionise the private aviation business. The company has acquired Indo Pacific Aviation Limited, India's oldest non-scheduled aircraft operator (NSOP) with operations in India, for an undisclosed amount.\r\n\r\nJetSetGo team confirmed the acquisition to Inc42 and Sudheer Perla, co-founder, JetSetGo shared that \u201cWhilst JetSetGo could have applied for its own non scheduled operator permit from DGCA, Indo Pacific Aviation which has such a permit, their existing fleet (1 helicopter and 1 aircraft), generating stable revenues in the range of $2.7 Mn- $3Mn (INR 18-20 Cr) annually and stable net margins of 12-15% with strong legacy and credentials and \u00a0professionally run with pragmatic promoters came to our notice to be a company that we could explore deeper strategic partnership discussions with.\u201d\r\n\r\nSoon, the discussions were initiated in 2017 following which \u201call parties saw value in us doing an outright acquisition\u201d. After the valuations were finalised, the last few months were spent securing necessary government approvals (DGCA and BCAS) to finally complete the deal.\r\n\r\nPerla shared that with the acquisition, \u201cJetSetGo has far stronger competencies to consolidate its position as the market leader and better aggregate available private aviation fleet in the country.\u201d\r\n\r\nFurthermore, the team is also increasingly seeing the potential to bring in smaller new generation fuel and cost-efficient aircraft into the country for greater point-to-point connectivity for all of which the Indo Pacific Aviation acquisition gives it a solid foundation to pursue.\r\nJetSetGo: Marketplace For Private Jets\r\nFounded in 2014 by Kanika Tekriwal and Sudheer Perla, JetSetGo is revolutionising the private aviation business by redefining the experience for private charter customers. This is done by seamlessly creating marketplaces that join the dots between charter customers and operators on one hand and service providers with operators on the other.\r\n\r\nThe company last raised an undisclosed seed round of funding in July and December 2015 from Yuvraj Singh\u2019s YouWeCan Ventures and Puneet Dalmia, respectively.\r\n\r\nJetSetGo has grown its pan India presence becoming the country's leading private aviation company with a fleet size of 18 and has completed 2,800 aircraft movements in FY17.\r\n\r\nSudheer also shared that the company has recorded a double-digit growth and have grown at a CAGR of 55% over the last three years with consistent and improving margins and is now able to get from an increase in scale.\r\n\r\nWith Indo Pacific Aviation, immediately adding a 20% growth to its top line and profitability this year, the company expects further cost synergies from having its own non-scheduled operator permit along with growth synergies to target more fleet acquisition.\r\n\r\nIndia\u2019s regional aircraft fleet is estimated to grow from 55 in 2011 to 261 by 2025 at a compounded annual growth rate of 12-13%, according to a 2012 report by consultancy firm AT Kearney.\r\n\r\nFurthermore, as per a Make In India report, India is world's ninth-largest civil aviation market with a market size of $16 Bn, and the Indian aviation industry is expected to become the world's largest by 2030. Growing 20% annually, it's among the world's five fastest growing markets.\r\n\r\nWith the successful stint of the past four years, the acquisition of Indo Pacific Aviation is bound to amplify the promising growth of JetSetGo in the huge aviation market in India.