TAG plans joint venture with China First Mandarin Group
TAG Aviation Asia and China First Mandarin Group (CFMG) signed a preliminary joint-venture agreement to serve the business aviation market in Asia with air
TAG Aviation Asia and China First Mandarin Group (CFMG) signed a preliminary joint-venture agreement to serve the business aviation market in Asia with aircraft charter, management and maintenance services at last month’s Meba Convention. The agreement will be finalized when the Chinese government issues its approval, which is anticipated early this year, according to Robert Wells, CEO of TAG Aviation Holding.
The joint-venture company will be named TAG Aviation China and will be held 51 percent by CFMG and 49 percent by TAG Aviation. The deal has the potential to establish a significant new force in China’s business aviation sector, which has been slow to develop due to regulatory restrictions and bureaucracy.
