Demand for business jets still strong in Asia

Demand for business jets still strong in Asia

The demand for business jets in Asia has grown over recent years, and signs of slowdown in China’s economy or downturn in Macau’s gaming revenue don’t seem to have made a big impact on the industry, according to Thomas Flohr, CEO of the Swiss private business jet company, VistaJet.
“To date, we have not seen a negative impact on VistaJet flights to Macau. Declining revenues could perhaps have an adverse effect on people considering whole aircraft purchase, as this requires intensive capital investment,” he told the Times in an email interview.
Mr Flohr said that the company’s jet program scheme remains popular among Asia-Pacific customers. “They discover the benefits of having access to a fleet of large-cabin, branded aircraft positioned all over the world, instead of owning just one plane,” he explained.
According to Mr Flohr, the company’s Flight Solution Program is regarded as a good option for clients who want to enjoy the benefits of aircraft ownership without investing huge sums of money and bearing asset risk.
VistaJet announced last month that it will be offering point-to-point services in mainland China this month, using a Bombardier Challenger 850 business jet. The VIP charter company has partnered with Apex Air, headquartered in Jiangsu province, to provide services on its behalf.
VistaJet has been flying passengers in and out of mainland China, including flights to and from Macau and Hong Kong.
Mr Flohr said that VistaJet has experienced a steady increase in the number of flights to the Asia-Pacific region since 2008. Last year, the airline recorded a 23-percent increase in passengers traveling within Asia, and a 17-percent increase in flights traveling within the continent.
“We’ve seen an increase in demand for VistaJet flights in [the] Asia-Pacific [region] with 2014 year-on-year growth of 17 percent. We expect the growth trend to continue,” he added.
The company has a fleet of over 50 aircraft and additional new Challenger 350 and Global 6000 aircraft will be added throughout this year.
Last February, The Times was invited to inspect one of the company’s aircraft, which had just flown customers to Macau.
The Financial Times reported in April that president Xi Jinping’s campaign against corruption has grounded the private jet sector. Aviation data provider Jetnet reported that purchases of business jets by Chinese companies peaked at 55 in 2011, but have declined steadily ever since.  CP