China is the focus for private aviation sector

VistaJet ChinaTwo of the biggest players in the fractional and business jet sector have announced ventures which give them a foothold in the potentially huge Chinese market.

NetJets, the world’s largest fractional jet operator, has unveiled details of a joint venture with a consortium of Chinese investors led by Hony Jinsi Investment Management (Beijing) Ltd, a subsidiary of private equity firm Hony Capital, and Fung Investments, part of the private investment arm of the families of Dr. Victor Fung and Dr. William Fung.

Subject to obtaining relevant regulatory approvals, NetJets China Business Aviation will be headquartered in Zhuhai, a prefecture-level city by the Pearl River Delta on the southern coast of Guangdong province and an hour by fast ferry from Hong Kong. Initially it will not offer fractional shares, but concentrate on aircraft charter and management.

“The Chinese aviation market has phenomenal growth potential and we believe that introducing the NetJets service in China will enhance our brand’s global offering for customers around the globe," said NetJets Chairman and CEO Jordan Hansell. "Our aim is to introduce NetJets brand of unmatched standards for managing private aircraft and provide aircraft owners in China with the ultimate in safety, security and reliability.”

“The joint venture aims to meet the growing demand in China for exceptional service quality and high safety standards in private jet management services for both corporate and personal use,” said Eric Wong, vice chairman of NetJets China. “We are witnessing demand from both new domestic customers and established customers in the U.S. and Europe. We are excited to provide a NetJets’ presence in China which will provide aircraft owners with superior global coverage and services.”

Meanwhile VistaJet, the biggest player outside of the Americas, has signed a memorandum of understanding (MOU) with Beijing Airlines, the private aviation subsidiary of Air China, which is intended to lead to a long-term major partnership agreement. The MOU, which will investigate joint marketing, sales and operational opportunities, will see VistaJet, establishing a formal presence in China with a base in Beijing and eventually operating point-to-point within China.

Thomas Flohr, founder and chairman of VistaJet, said: “This is a historic announcement for VistaJet. We have been targeting China as a major market for expansion and our new partnership with Beijing Airlines will allow us to rapidly build a presence in this very fast growing market which epitomises the massive shift over the last decade in global trade from West to East.”

“VistaJet is connecting entrepreneurs with their next major project, their next business partner, often in remote locations either underserved by commercial airlines or from where direct routes to other key business locations do not exist. As an entrepreneur, you cannot afford to spend up to three days flying commercially between Harbin and Khartoum. Nor are you going to want to fly on some of the airlines that will get you there. With our modern, state-of-the-art long-haul fleet, VistaJet is directly connecting locations such as East Asia with East Africa in up to a third of the time and in style. It would appear that our Chinese customers, many of whom run major global enterprises and are extremely discerning, have realised the benefits of flying VistaJet and we look forward to flying them further and more often.”

www.netjets.com
www.vistajet.com

27/03/12
 

Posted:
27/03/12

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