Flying taxis in India: Fares to be in line with Uber rates, says industry executive

India is working on the launch of flying taxis and the fare could be in line with the ride-hailing app Uber rates, said an industry executive on Sunday.

Kanika Tekriwal, founder of JetSetGo, said affordability will be key when it comes to introducing flying taxis as well as own flying cars.

“We are creating infrastructure to operate flying taxis in India…Around 40 to 50 years ago, only the rich or 1 per cent of the world could afford cars. Now, around 40 per cent of the world can afford a car. That is the future of flying cars as well. Personal air mobility is going to take over."

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The eVTOL we are working on right now is going to cost as much as Uber costs you from home to the office. And owning them will probably cost $200,000-$300,000,” Tekriwal said during a panel discussion at the 42nd annual international conference organised by the Institute of Chartered Accountants (ICAI) – Dubai Chapter.

She added that the entire industry is also currently focusing on affordability for the consumers.

“Gone are the days of creating products that focus on 1-2 per cent of the world’s population. Now it has changed to scalability and market size. Now, the discussions focus on how to make the product. Looking at the way things are progressing, the majority of the world is going to afford it in 4 to 5 years. Otherwise, it is not going to succeed,” she added.

The founder of JetSetGo sees Dubai’s Sheikh Zayed Road airspace occupied with flying cars and taxis as the emirate is taking the lead in this space.

“If you are living on Sheikh Zayed Road and working on the Palm which is a good 45-minute drive, if I tell you that you could commute in 5 minutes, that will really change your life. That is what I am looking forward to. It excites me and scares me too. You are going to see a different sky, a different world and a different life.”

Aviation is the future

She added that aviation is the future of the world because it is the only industry that has not been disrupted yet.

“It is a very capital-intensive business and governments need billions of dollars to build infrastructure and airports. In India, there are over 8,000 districts and over 1,000 cities. Only 160 are connected by airlines. For instance, for people travelling from Bhopal to Dubai, it is like a mission.

They have to come from Bhopal to Delhi and then catch a flight to Dubai. But the sector is being disrupted now as smaller planes can fly with 500-metre runways. This means it can take off from big parking lots. This is the technology that is going to change the way we live and it is not a capex-controlled industry anymore, where you have to spend billions of dollars on airports,” she added.

Tarun Wig, co-founder of Innefu Labs; Munaf Kapadia, co-founder of The Bohri Kitchen; and Pankaj Mundra, former chairman of ICAI’s Dubai chapter also spoke at the panel discussion on the topic of ‘Icons to unicorns’.

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