12th April 2017, Shanghai
New research1 from Global Jet Capital, a provider of financing solutions for corporate aircraft, reveals there are around 1,077 midsize, large and jet airliner private aircraft in Asia Pacific, and over a third (34% or 363 aircraft) of these are in China – more than any other country in the region.
Overall, 38% of the region’s fleet of business aircraft is mid to large cabin, a significantly higher proportion than in the global fleet, where the corresponding figure is 32%. Nearly all (92% or 128 aircraft) of Hong Kong’s 139 business aircraft are mid to heavy in size. This is followed by Singapore, where 75% of its fleet of business aircraft are in this category, and China where the corresponding figure is 70%.
| Country | Midsize, heavy and jet airliner fleet size |
Share of country’s fleet of business aircraft |
| Hong Kong | 128 | 92% |
| Singapore | 45 | 75% |
| China | 363 | 70% |
| Malaysia | 50 | 55% |
| South Korea | 28 | 55% |
| India | 120 | 45% |
| Thailand | 31 | 36% |
| Philippines | 37 | 33% |
| Indonesia | 39 | 25% |
| Japan | 64 | 21% |
| Australia | 107 | 15% |
| New Zealand | 10 | 13% |
| Rest of Asia Pacific | 55 | 16% |
| ALL ASIA PACIFIC | 1,077 | 38% |
Global Jet Capital believes Asia offers strong opportunities for growth in the business aviation sector. It is seeing a growing number of enquiries in the region to help finance the purchase of large to mid-sized jets, and it has recently appointed Violet Kwek as Sales Director, Greater China. It is also looking to recruit more people to bolster its team in the region.
Violet Kwek, Sales Director, Greater China and North Asia at Global Jet Capital, said:
“A number of the Asian economies are currently some of the best performing in the world, and we expect this to contribute to strong growth in the business aviation sector here. This, combined with the fact that the market has a high concentration on mid to heavy jets, makes this region very attractive for us, and we anticipate enjoying strong growth here over the next few years.”
Global Jet Capital launched in 2014 and it 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.
The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.