Business News

China’s private airlines make it very popular when the economy hits pre-epidemic

China’s richest companies and individuals have increased the use of private jets this year, with twice as many flights compared to previous epidemics due to the country’s economic downturn leading to a shift in business processes.

The use of jets at home that are privately owned or operated exclusively by owners is rising 87% this year compared to the same period two years ago, according to WingX Advance GmbH, a public information company.

The climb comes close to China economic reform from coronavirus. Although a global epidemic broke out in China in late 2019, the Communist Party was able to control it quickly by sealing the country’s borders and making the deadly extermination a dangerous test.

China’s growth has accelerated in another major economy, beyond the epidemics that began late last year and restrictions on domestic mobility have been curtailed.

Richard Koe, chief executive officer at WingX, says the number of flights worldwide is still down by 29% this year compared to last year, while private jets are up 18% but remain until 2019.

Private pilots say China’s demand for airlines also reflects shortages in the airline industry, as well as concerns from air traffic controllers and many others.

“Private jets can fly to places where commercial airliners are completely shut down,” said Jenny Lau, president of Sino Jet, a pilot.

Li Bokai, president of Business Aviation Asia, says a passenger can connect with more than 1,000 people compared to 10 on a common airline.

Officials said the most popular destinations were Beijing, Shanghai and Shenzhen. A flight from Shanghai to Shenzhen costs about $ 45,000 for more than 15 people on the Gulfstream G550 according to L’VOYAGE, a private airliner in Hong Kong.

The company said it had seen the need to remove aircraft from businesses affected by the epidemic, such as mask makers and medical companies.

Contrary to home aspirations, international flights from China are about to dry up, the WingX data show. The Chinese government will impose stricter rules on those arriving overseas after the resumption of flights.

“For private jets that carry passengers from around the world, it is difficult to get a permit for the flights,” Lau said.

Global flights to and from China have dropped by 91% this year compared to the same period two years ago, according to a study from WingX.

Thomas Flohr, chairman of VistaJet, a state-owned enterprise, said the return flights between the US and China are half of their international trips by 2020.

Lau said their ships brought many foreign students and seniors with their medical needs to China, as well as representatives of 60 Wenzhou companies that were stranded in Florence last April.

Workers are seeing an opportunity to grow after the epidemic as commercial airlines are still relatively low in China.

“Now that they [companies] they will realize the joy of business jets, even after the epidemic, they will continue to use them, ”added Li.

Source link

Related Articles

Leave a Reply

Back to top button