Chinese private jet industry continues to grow

Updated: July 19, 2013

Despite the Chinese government’s attempts to minimize lavish spending, the country’s high-net worth individuals find ways to purchase luxury products—including private jets.

Recently, Boeing—an aircraft manufacturer—witnessed the completion of Nanshan Jets’ first Boeing Business Jet for a Chinese customer. The private jet sports traditional business jet interiors, including a bedroom suite. And more and more clients are ordering jets.

From 2007 to 2011, the number of private jets in China’s skies has increased by 20 based on reports. The increase in jets is concurrently increasing with an increase in China’s number of high-net worth individuals.

Demand for luxury aircraft presents good prospects. Zhuhai Cirrus Aviation already sold 14 aircraft in March just days after its launch.

According to reports, the private jet buying spree is being fuelled by business travel. Most business owners have many hubs across the country and a private aircraft provide travel convenience. On the other hand, military-controlled airports in China implement strict travel rules and regulations—which presents some difficulties for private jet owners.

Source: South China Morning Post

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