Private Jet Market Suffers

Due to economic uncertainty and tight capital controls, many wealthy Chinese businesspeople are chartering private jets rather than purchasing them. “The cooling-off of the desire to buy your own aircraft has resulted in people still wanting to fly privately but not having the hassle and financial exposure as well as the political exposure,” states VistaJet Chief Commercial Officer Ian Moore. China’s business jet fleet had expanded at a very rapid pace before Chinese President Xi Jinping came into power in 2012. Since then, sales have dropped sharply. Still, industry experts say demand for private aviation in China remains strong.