While many in the business aviation industry still eye China as fertile territory, a new report from business aviation consulting firm Asian Sky Group (ASG) predicts the Greater China market will see less than half the growth it experienced last year. In its First-half 2013 Greater China Fleet Additions Report, the Hong Kong-based company says that the Chinese fleet of new and used business jets is expected to increase by approximately 18 percent this year, compared with 40-percent growth last year (albeit from a smaller base total). In total, 96 business jets were added last year in China; through the first six months of this year, just 37 jets were added, Asian Sky Group’s data shows. According to aviation industry data provider JetNet, 314 business jets are currently operating in the region.
Asian Sky attributes the reduced growth to several factors, including the overall slowing of the Chinese economy “and, in particular, cooling measures in certain industry segments.” Other impacts are austerity measures introduced by China’s government and a shift in focus to organic growth. As Chinese business jet buyers become more educated, the decision-making process has become more protracted.
