NetJets is preparing to launch its NetJets China business in mid-2014, by which time it expects to receive Chinese government approval for an air operator certificate. It also has hired “key people” over the past few months in the run-up to the launch of NetJets’ Chinese joint-venture operation, NetJets Business Aviation Ltd., which initially will provide aircraft management services.
“We are making the necessary arrangements to launch our aircraft management business in China quickly, once our license is approved,” said NetJets chairman and CEO Jordan Hansell. “We are very excited to begin operations there because we see great potential for private aviation in China, as well as throughout Asia. We see China as one of the premier growth markets in the world and look forward to launching an aircraft management business here initially, which could grow into a fractional business in the future.”
Over the past few months, NetJets Business Aviation hired several people to run the business, including Eric Cheng in the role as director of safety.
Cheng has worked in the aviation industry for more than 35 years, including more than 23 years in the Hong Kong Civil Aviation Department–15 of those as an accident investigator. He is also an experienced business jet pilot and an ICAO-certified safety management systems instructor.
The company is also expanding relationships with vendors such as chauffeured ground transportation service provider Savoya, which will deliver “precise and reliable” service to NetJets China passengers.
Meanwhile, arrangements are being finalized to position two unspecified NetJets aircraft in China to support its charter business.
NetJets Business Aviation is a joint venture with NetJets (Booth P222), Hony Jinsi Investment Management Beijing (a subsidiary of Chinese private-equity firm Hony Capital) and Fung Investments, part of the private investment arm of the families of Dr. Victor Fung and Dr. William Fung.