Page 26 - AAA JULY-AUGUST 2012 Online Magazine
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FEATURE BUSINESS JETS
FEATURE BUSINESS JETS
Business Challenge
The perception in the There is no doubT The 2008 financial and continued exposure to the benefits
region that business crisis hit the private jet business of business aviation will convert some
of them to fractional or full ownership
worldwide. but while the momentum to
jets are the preserve of buy appears to have waned somewhat, when their level of requirement makes
the rich and famous is charter demand is still holding its own, it economically sensible. one additional
with encouraging signs for further growth.
advantage that potential fractional
changing as a broader Many potential aircraft buyers are now owners are considering is the deployment
range of corporate clients taking the less risky option of chartering of their aircraft on a commercial basis
comes to appreciate a jet when they need one, instead of when it is not required for their own use.
buying one. however the lack of suitable
in this case, they receive a share of income
cost-efficient options for choice of jets available for charter in asia for this third-party use of their aircraft.
the use of an executive has to some extent placed a lid on this Greater exposure to the economic and
practical advantages of executive jet use
- most jets owned by rich individuals or
aircraft. Prithpal Singh, corporations are not available for public will help to break through the barrier that
CEO Executive Jets Asia, hire as they are mostly registered in the the dominance of the commercial airline
reports private category. business in asia has created.
There are a few companies in
the region – like executive Jets asia Glimmers of hope
(eJa) – which own and operate private but it’s not all gloomy news as the
jets registered in the public transport bankers trim their transport budgets.
category and are therefore available although recent economic issues have
for hire. regional demands across impacted business travel budgets, the
Malaysia, singapore and the Philippines boost in commodity prices has seen a
are driving business from individuals significant rise in charters from other
and organisations which appreciate the sectors (see map opposite). “companies
benefits of such aircraft access, but don’t in agricultural and mining sectors are
yet need outright ownership. nonetheless, flying more, so we are confident there is
Prithpal Singh locally – unlike the historical trend in the enough resilience in the broad economy
(OPPOSITE, TOP) is keen us and europe – the charter business has to be optimistic about future growth,”
to see more business
jets flying. He could be been predominant, and is set to open up noted one operator. The other light on
in luck: Asia has the significantly in the future. the horizon is the Medevac business. This
second-highest global Many customers so far have opted for has grown so much that some operators,
growth prediction ad hoc charter use of fleet aircraft, but like eJa, have seen fit to convert aircraft
(OPPOSITE, BELOW) operators are optimistic that increased for permanent air ambulance operations.
26 ASIAN AIRLINES & AIRPORTS JULY / AUGUST 2012 WWW.ASIANAIRLINES-AIRPORTS.COM
