NetJets will import its first two aircraft into China this month in anticipation of securing a Chinese air operator certificate (AOC) around the end of the first quarter of next year. The U.S. company will base a pair of its Hawker 800s in China so it can offer charter services to local clients. The main business model for Zhuhai-based NetJets-China Business Aviation Ltd. will be to provide aircraft management services.
NetJets CEO Jordan Hansell told AIN in an interview on Tuesday that the first managed aircraft could follow soon after the AOC is issued. “One of the things that has made the Chinese government interested in us is that they can see that we’ve done aircraft management elsewhere and that we’ll operate at a high standard,” he said. “It’s part of their five-year plan to develop this industry in the country and they seem to see that we can help to raise the standards there.”
NetJets’s local subsidiary, which is supported by a new sales office in Beijing, is a joint venture with a consortium of Chinese investors led by Hony Jinsi Investment Management (Beijing) Ltd.–a subsidiary of Chinese private equity firm Hony Capital–and Fung Investments, which is owned by the families of Dr. Victor Fung and Dr. William Fung.