China corporate aircraft alliance founded in Shanghai

Shanghai (CNS) -- The China Business Jet Shanghai Alliance was founded on Monday to facilitate a complete service system for China's rapidly growing private aviation market.

Led by the Civil Aviation Administration of China, the alliance's 17 initial members include domestic and foreign companies such as Airbus, Boeing Business Jets, Bombardier, China Eastern Airlines Executive Air and Beijing Capital Airlines.

All 17 members have pledged to maintain safety and punctuality, improve service, assure sufficient aviation supplies and train more specialized technicians.

In just two years from 2009, the number of corporate aircraft registered in China soared from little more than 20 to almost 200, a figure that is expected to quintuple in a decade.

Minsheng Financial Leasing, the alliance's initiator, has bought or leased more than 100 corporate aircraft since its founding in April of 2008.