Business aviation firm expects to return to 50% of pre-Covid sales volume this year
A business aviation company operating in Macau expects its business to return to half of pre-Covid sales levels this year.
TAG Aviation Asia’s Macau branch was inaugurated early 2019.
During the first two months of this year, the business aviation company has seen sales reaching the levels of its inaugural period, Rita Tam, general manager of the branch, told local media Macao Daily News.
Tam added that the company is optimistic about the development prospects of the business aviation market in Macau and the Greater Bay Area (GBA). Not long after the branch’s inauguration, the business achieved a market share of 27% in Macau. Major clientele back then comprised business and leisure travelers, sports teams and entertainment personalities.
After Covid-19 emerged as a pandemic in 2020, the business aviation market was inevitably affected, and the number of private jet operations plunged. “However, TAG Macau still garnered more than half of the market share, reflecting a positive recognition from customers on our services and standards,” Tam told the news outlet.
Early January, when Macau and mainland China eliminated travel restrictions, the private jet market recorded a rebound. “The number of business jet requests from Southeast Asian countries increased significantly that month,” Tam revealed. “Most of them came to Macau for entertainment and vacations.”
In addition, Tam added that premium brands are a growing clientele, as she disclosed that executives from certain brands requested TAG’s services to Macau for their business and inspection trips.
As foreign markets are seen as key markets by the government and consequently local casino operators, Tam also disclosed that these operators had started requesting quotations from the company.
Some of these jobs commenced in February, when some casino operators bought the company’s services and transported about a dozen passengers on each of the chartered flights.
She emphasized that more requests are on the table and details should be confirmed next month.
All six casino operators have pledged to boost the concerted effort to diversify the city’s market, according to an approved landmark casino bill that also targets attracting foreign players.
The biggest reform in over 20 years, the SAR government has updated the stipulations regarding the bidding process for casino licenses in Macau, which highlights corporate social responsibility and attracting non-Chinese bettors.
