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NetJets under Buffet: Chinese Business Jet Market to Overtake Euro-America

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According to Bloomberg, NetJets, the Business Jet Operator under Buffet, says the development of Chinese market may overtake that of the Euro-American areas. NetJets will officially enter into Chinese market this year, it will operate private business jets before the fractional ownership is introduced. NetJets holds 68% share of “fractional ownership business jets” market.


Jordan Hansell, CEO of NetJets business says during an interview in Hainan Boao Forum, their customers can ride business jets by purchasing the ownership of the business jets, and they hope that can have the final approval by the Chinese administrative authority.


Mr. Hansell said: “As time evolutes, Chinese airplane management market shows a lot of potential, which may even overtake our current American market. Ultimately, fractional ownership will rapidly develop in China and over take America.”


According to estimates of Bombardier, by 2032, the number of private airplanes in China will increase more than 7 folds. Meanwhile, China will have 9% of private airplanes in the world, as compared to less than 2% in 2012.
Mr. Hansell says, in order for NetJets business in Mainland China to overtake America, the Chinese government will need to open up its airspace further and construct more infrastructures. Airspace in China is administrated by the military sector, and it is very difficult for business jets to take off immediately after a flight mission is briefed. The series of tightening up policies President Xi has adopted after his inauguration are very helpful for NetJets’ business in China.
 

Source: 
Civil Aviation Resource Net

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