India Business Jet Q1 Movements Grow Sharply With Local Operators Broadly Rising and VistaJet Slightly Down — But YoY Growth Magnitude May Be Significantly Overstated Due to Data Methodology Change

India Q1 2026 total business jet movements reached 18,091 vs. Q1 2025's 8,635. But important caveat: arrival data methodology differs materially between the two years (Q1 2025 arrivals just 833 vs. Q1 2026 arrivals 9,063) — so the surface ~110% YoY growth is likely substantially overstated due to data collection method change, and should not be directly read as market doubling. After removing the methodology factor, the India business jet market still shows significant growth — local operators particularly stand out: Karnavati Aviation, Air Charter Services, Club One Air, JetSetGo all posted strong growth; Empire Aviation, Bajaj Aviation, Gmr Aviation newly entered Top 10. International operator VistaJet movements declined from 272 to 233, with rank slipping. Market concentration declined — VSR Ventures, though leading at 1,412 movements, share fell from 11.5% to 7.8%. Fly Alliance announced plans to enter the India market with 10 aircraft, but facing local operator strong rise, foreign entrants need cautious competitive evaluation. Confidence ★★ (AviGo data + KG events corroborated, but YoY growth needs substantial discount due to data methodology difference).