China's private airport market boomed after the global economic crisis in 2008. Statistics from the Asian Corporate Aircraft Consultant Company showed that the number of corporate aircrafts grew at an annual rate of 50%.
Corporate aircraft in China
Statistics also showed that when the GDP in a single country or a region hits 100 million, 250 corporate aircrafts will be needed. Given that China has maintained a GDP of 5 million, the demand for corporate aircraft will rise to more than 1000. The dozens of currently used corporate aircrafts, then, cannot meet the market demand.
According to international definitions, aircrafts weighing less than 9 tons with twin turbine engines that accommodate 4 to 9 passengers driven by professional pilots can be called "corporate aircraft."
The managing director of Bombardier in China claimed that the earliest corporate aircrafts in China were used by the world's top 500 enterprises operating in this country; however, they have to rent corporate aircrafts from local companies due to air control policies.
Sensing the huge commercial opportunities in 1995, Hainan Airlines purchased two corporate aircraft Bombardiers, the Canadian aircraft manufactory and rent mostly to foreigners in the country.
"Right now, there are many options for a potential buyer of a corporate aircraft. They either order one and pay in full, or, choose a capital lease," Lin Xiangyu, general manager of an investment company in Nanjing said.
According to Lin's research, most private entrepreneurs would choose to buy one corporate aircraft in full payment. However, they normally tend to keep a low profile on such issues.
More professional pilots in demand
Currently, there are about 20 airlines waiting for governmental examination and approval, yet due to the lack of pilots, many of these new airlines are not able to operate currently.
An announcement made by China's aviation regulatory authority said that hundreds of corporate aircrafts purchased from Boeing and Airbus are waiting for professional pilots. Based on official speculation, 9,000 or more pilots will be needed by 2015, and the figure will steadily grow by 2,500 every year in the coming 20 years.
A report in China Air Force shows that in recent years, many pilots undertaking low-level flying are not professionally qualified, which causes legal problems and sometimes increases dangers.
