China will account for 900 jet deliveries in the next decade
Toby Joy, associate in London and Denis Petkovic, partner in Hong Kong office, Withers talk about the growth in pre-used jets
17 May 2017
Tell us about the private jet charter in China?
For us, China is one of the most popular destinations, and with a dedicated Chinese-registered aircraft, we are one of the few international operators with the ability to fly domestically in the country through its partnership with Apex Air. The response we have had from customers in China has been very positive. Globally, forty percent of VistaJet’s new business in 2016 came from customers moving away from fractional or full aircraft ownership, and it's also a major trend we're seeing in China.
Where is the growth?
We're seeing a lot of growth in China, for example in 2016 the number of flights arriving in China increased by sixteen percent; the number of passengers arriving in China increased by eleven percent with the most visited cities being Beijing, Shenzhen, Shanghai, Tianjin and Guangzhou. Seventeen percent of our customer base is from Greater China, and we expect that to grow
And you predict upward demand for jets in China?
China is one of our most exciting markets, and we expect to see further growth in terms of infrastructure building, airport developments in the years ahead.
We believe the usage of business jets will grow tremendously in China.
Can you give us some recent figures on private jet spending ?
Our business model is all about taking the asset risk away from customers, and giving them maximum flexibility
Customers only pay for the hours they are in the air and the range is between US$12,000 – US$17,000 per hour. The Global 6000 is VistaJet’s most expensive aircraft type. It’s an ultra-long-range aircraft type that can fly for thirteen hours non-stop. VistaJet has had 100,000 flights and 250,000 passengers since inception in 2004.