Space Industry and Business News  
AEROSPACE
Private jet makers eye China's billionaires

by Staff Writers
Hong Kong (AFP) March 11, 2011
The "Phoenix Cabin" has all the usual amenities that a billionaire might want in a private jet: plush leather chairs, soft carpet, and a flat-screen TV to watch while criss-crossing the globe.

But with its red hues -- traditionally a lucky colour in China -- and centrepiece round table that doubles for playing mahjong, Airbus is setting its sights on the growing number of ultra-rich Chinese who can afford to shell out upwards of $65 million for their very own home and office in the sky.

"The round table with a Lazy Susan is the Chinese way of sharing and spending time together," Francois Chazelle, vice president of worldwide sales at Airbus Corporate Jets, told AFP at an air show that wrapped up in Hong Kong on Thursday.

"The first aircraft we sold into China had one and the customer immediately took to it."

Europe's Airbus says its private jet operation set a company record last year, delivering 15 planes worth $1.5 billion, with China standing out as the firm's fastest-growing market.

Driving that surge is China's red-hot economy which has produced about 875,000 millionaires and almost 200 billionaires, according to the Hurun Rich List, the Chinese equivalent of the Forbes or Sunday Times rich lists.

Chinese customers accounted for about 25 percent of business jet sales at Airbus in 2010, with sales expected to close in on the dominant oil-rich Middle East market in "a couple of years," Chazelle said.

Rival Bombardier is forecasting the industry will make 600 business jet deliveries in China between 2010 and 2019, while US-based Gulfstream is also boosting its presence in mainland China and Hong Kong, a financial hub synonymous with ultra-rich tycoons and grandiose displays of wealth.

"The race is on -- there is a lot of activity right now in China," Chazelle said.

Boeing, a major player in the US market which was pounded during the global financial crisis, made all of its private jet sales last year to Asian clients, locking up deals in Singapore, Indonesia, and Thailand, said Jeff Dunn, the firm's Asia-Pacific sales director for business jets.

"But China is a great market for us too," he added.

"We see very steady growth in this region -- everybody is here. And I think it will stay that way. The numbers will continue to grow in Asia."

Smaller planes are popular in the US market, while bigger, long-range jets that can carry more passengers are a hit among Asia's elite, who tend to make "quick decisions and want quick delivery," Dunn said.

"Big, big and bigger is showing dominance and the interiors are very extravagant -- it's a cultural preference," he added.

"Because of long-range travel requirements from Asian customers, the cabin is very important, and so is connectivity," added David Dixon, Bombardier's regional vice president for business aircraft sales.

But almost all clients want a plane so they can do business in private, sleep in a full-size bed, or catch a shower as they race around the globe.

"It gives you a flying office," said Chazelle, who saw one customer log a remarkable 1,200 flying hours in a year, or about three hours daily.

"It was kind of a record. (Customers) want to be more efficient travelling the world," he added.

A dining area for 10 guests, "endless" hot water for bathing, casino tables, slot machines, a gym for sky-high workouts or karaoke machines to belt out your favourite tunes are all possible options for those with cash to burn.

"We've seen just about everything put in an airplane," Dunn said.

As Chinese companies spread out across the globe, private jet makers are also hoping to boost their all-important sales to corporations, along with governments that need a secure way to transport heads of state, observers said.

Restrictions on private aviation in China have been a key hurdle to tapping the market further since they make last-minute changes to a flight plan -- common among jet owners -- almost impossible, Dunn said.

But regulators appear set to loosen those restrictions, observers said.

"A lot of progress is already taking place," Chazelle said.

"Chinese regulators are being more and more welcoming to business aviation."



Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
Aerospace News at SpaceMart.com



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


AEROSPACE
EADS returns to profit on jet sales
Munich, Germany (UPI) Mar 9, 2011
European defense giant European Aeronautic Defense and Space Co. returned to profit in 2010 on strong jet sales at its subsidiary Airbus, reinstating a dividend and forecasting even greater sales in the year ahead. After an abysmal 2009, EADS posted a higher-than-expected net profit of $769 million in 2010, the company said Wednesday. New orders in 2010 rose to $115 billion, an ... read more







AEROSPACE
Made-for-Internet movie debuts on YouTube

Mideast unrest pushing up gem prices, say traders

Apple fans camp out for new iPad

Montreal newspaper to go digital

AEROSPACE
InterSKY 4M Provides BLOS Comms For C4I Military Systems

LockMart Wins Role On Navy C4ISR Services Contract

ONR Moves A Modular Space Communications Asset Into Unmanned Aircraft For Marines

Northrop Grumman Next-Gen FBCB2 System Approved For Fielding

AEROSPACE
Indian Space Agency To Now Launch Three Satellites In April

New Dawn Arrives At Spaceport

ISRO Likley To Launch Resourcesat-2 In April

United Launch Alliance Launches Second OTV Mission

AEROSPACE
Fred Meyer Stores And ECOtality To Install Blink EV Charging Stations

Skyhook's Location To Be Embedded In Next Gen Portable Entertainment System

Annual Report To Baltimore County By AutoReturn Shows Solid Results

TeenDriver.com Helps Parents Ensure Safety Of Their Teen Drivers

AEROSPACE
Budget airlines open up Asia's skies to the masses

Private jet makers eye China's billionaires

Cathay Pacific orders 27 Airbus and Boeing planes

EU sets CO2 limit for airlines

AEROSPACE
NIST Electromechanical Circuit Sets Record Beating Microscopic Drum

New Generation Of Optical Integrated Devices For Future Quantum Computers

JQI Physicists Demonstrate Coveted Spin-Orbit Coupling In Atomic Gases

New MIT Developments In Quantum Computing

AEROSPACE
NASA And Other Satellites Keeping Busy With This Week's Severe Weather

Can Bhuvan Give Google Earth A Run For Its Money

NASA Warns Ice Melt Speeding Up

GOCE Delivers On Its Promise

AEROSPACE
China cleaning up 'jeans capital'

Environmental Impact Of Animal Waste

Protecting Ecosystems, Pollution Remediation Goals Of Research

Battle on paradise Philippine island


The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement