Rich pimp their planes as jet market takes off

Updated: 2014-07-25 11:24

By Bill Savadove in Shanghai (China Daily)

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There are, however, some dark clouds on the horizon for the market. More moderate economic growth and limits on flight paths because most of China's airspace is controlled by the military, along with a lack of infrastructure for private planes could hamper the industry.

China has just 286 landing sites suitable for these types of aircraft, according to State media.

"There are some challenges with airspace, with airport takeoff and landing restrictions," says Scott Neal, senior vice-president for sales and marketing at Gulfstream.

At the moment, potential buyers are also eager to keep a low profile amid an ongoing government austerity campaign and anti-corruption drive.

"If you back up two years ago, this market was really happening very fast and was kind of electric," says Stephen Taylor, president of Boeing Business Jets.

"It definitely has been less aggressive and a more subdued market ever since the new administration came in and started pushing against some of the luxury items."

Asian Sky's general manager Jeffrey Lowe adds: "Maybe not getting into the biggest and flashiest airplane is certainly the best approach these days.

"Other than that, they still have a definite need for the aircraft and most of them are finding ways to buy."

At a recent air show in Shanghai a middle-aged man sat near a Gulfstream display but declined to give his name and attributed his presence to his tall companion, introducing her as a fashion designer.

"I only came along because my girlfriend wanted to look at planes," he says.

AFP

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