26 October 2017, Manila.
Global Jet Capital, a global leader in financial solutions for corporate aircraft, is backing an initiative to raise the profile of business aviation in the Philippines.
The company is sponsoring the launch event of the new Philippine chapter of the Asian Business Aviation Association (AsBAA) in Manila this week. The event will be attended by a variety of stakeholders, including government, businesses and the media, and is designed to increase understanding of the benefits of business aviation.
The Philippines has around 250 airports across the country, putting it in the top 25 in the world.1 In addition, the Philippines’ business aircraft fleet is the sixth largest in the Asia Pacific region, with a third of the fleet either mid-sized or heavy jets.2
Global Jet Capital believes that together, these factors provide a strong base for business aviation to play a key role in supporting the country’s economic growth. However, in order to maximise the opportunity, it is important that the infrastructure for business aviation is developed across the country.
David Settergren, Sales Director SE Asia for Global Jet Capital, said:
“The Philippines hold terrific growth potential for business aviation. When you combine a growing economy and population with a geographically diverse country, the case for business aviation is strong.
“Today there are around 23 medium and 14 long range business aircraft in the Philippine market. We expect that number to grow substantially between now and 2025. Global Jet Capital is committed to helping Filipino businesses and entrepreneurs finance and lease these important business tools.”
Global Jet Capital is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners*; The Carlyle Group; and AE Industrial Partners. In January 2016, Global Jet Capital completed the purchase of GE’s corporate aircraft lease and loan book in the Americas. Global Jet Capital currently has approximately $2.5 billion in assets under management.
Notes to editors
1CIA World Factbook
2Global Jet Capital analysis of JetNet data, March 2017