Aviation industry to take off in China
Updated: 2012-04-02 08:15
By Xie Yu and He Wei in shanghai (China Daily)
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As a key finance provider in the corporate aviation market, GE Capital Corporate Aircraft Finance has a global portfolio exceeding $9 billion and owns more than 2,000 aircrafts. With more than $25 billion in transactions funded worldwide, it has funded the purchase of more than 100 aircraft across seven countries in Asia.
Compared with local bank lenders that compete in the same arena, Henderson said he believes capital from GE will leverage the specialty and powerful resources it has in the aviation market to offer tailor-made financial solutions to customers.
Besides, financing the acquisition of a corporate aircraft by a specialist corporate aircraft financier can free up capital and banking lines that are better used for core business activity.
Terry Sharp, general manager marketing of GE's commercial aircraft programs, expects the number of business jets in China to reach 500 to 1,000 units in the next five years. As the number of aircrafts in China grows, more service companies will be necessary.
Honeywell Aerospace, one of the world's leading corporate aviation spare parts providers, recently announced the opening of a technical operations center at its Shanghai headquarters. The new facility allows service engineers to support technical inquiries, troubleshooting and documentation questions on the full range of Honeywell mechanical and avionic products.
"Though current fleets are relatively small, the high purchase plan level in China will generate significant new aircraft demand if realized," said Briand Greer, president of Honeywell's Aerospace Asia Pacific.
Contact the writers at xieyu@chinadaily.com.cn and hewei@chinadaily.com.cn
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