VistaJet, Apex link up on flights

VistaJet, a Switzerland-based company and its Chinese partner plan to offer point-to-point service in China by the third quarter of this year. The company said in Shanghai on Tuesday that it was exteremely confident about the growth prospects in the country's corporate jet market. [Photo/China Daily]

Swiss aviation firm to operate large-cabin business aircraft for point-to-point services in China

Switzerland-based VistaJet, a company specializing in premium long-range private jet travel, and its Chinese partner will start offering point-to-point services in China by the third quarter of this year, making it the first global private aviation company to operate large-cabin business aircraft in China, sources said.

On Tuesday, VistaJet said that Apex Air, a business jet operator authorized by the Civil Aviation Administration of China, will manage and operate its China-based fleet of aircraft, and Chinese customers will have access to VistaJet's large-cabin, long-range Bombardier Challenger 850, their first China-registered aircraft.

According to Thomas Flohr, VistaJet founder and chairman, more than 15,000 flights have been operated by VistaJet so far this year, and the Zurich-headquartered company is looking to achieve double-digit growth in its China business in the coming 12 months.

He Dan, chairman of Apex Air Co Ltd, said: "We are extremely confident in China's corporate jet market, and we expect to see huge development."

According to He, although fewer people buy their own business aircraft, the number of users have seen double-digit growth.

"Given the size of China's economy, there will be great demand for high-end transportation solutions," said He.

Flohr agreed with his partner's view, saying that customers that fly less than 500 hours a year could use VistaJet, as it is more cost-efficient than buying a business jet.

Public information shows China's corporate aircraft market can be traced back to 1995 when the first business jet was purchased by Hainan Airlines, and the market has entered into a fast growth period since 2003.

By the end of 2013, there were 367 business jets in China, with the number of corporate aircraft registered in the Chinese mainland rising to 202 during the same period, a year-on-year growth of 45 percent compared with 32 in 2008, according to a report from Forward (Qianzhan) Intelligence Co Ltd.

Affected by the slower economy, shortage of infrastructure, pilots and a ban on purchasing or leasing of corporate jets by large-sized State-owned enterprises, corporate aircraft orders from China have grown at a slower pace, but the nation remains one of the world's fastest-growing markets, the Southern Metropolis Daily reported.

Amid the slower growth, Xiao Huancheng, an industrial analyst with Forward Intelligence, forecasts a bright outlook for the leasing market.