Silkwings Lands Funding for Fractional Ownership Venture

 - May 25, 2023, 3:22 AM

Silkwings Jet has secured fresh funding from Shanghai’s Capital 8 investment group and the Hong Kong-based L’Voyage private flight provider for the development of its business jet fractional ownership program. The Hangzhou-based joint venture did not disclose the amount of this funding.

Launched in late 2022 with support from the French government, the Sino-French company aims to operate a fleet of Dassault Falcons in China and other key Asian markets under air operator certificates in multiple countries. It will also offer management services for aircraft owners, and opportunities for clients to offset ownership expenses, such as acquisition and operating costs through charter revenue.

“We set up Silkwings Jet with a very clear mission – allowing our clients to maximize asset ownership and utilization [while] always seeking to generate maximum value for every dollar spent into their aircraft,” said Silkwings Jet founder and CEO Franck Dubarry. “The versatility of our jet sharing program and our deep knowledge of operating in the region makes it a more efficient option than traditional private jet charter or other jet card programs.”

Dubarry, whose aviation career spans more than three decades, said he is leveraging his experience in Europe and China to bring greater operational flexibility to clients across the Asia-Pacific region. He served in the French navy and holds U.S. and European pilot’s licenses, as well as being an air traffic control instructor. After working for several European airlines and airports, he moved to China in 2015 and served as a general manager for a business jet operator.

"We are excited to invest in Silkwings Jet and join forces in this strategic partnership,” said L’Voyage founder Diana Chou, who also serves as founder and chairperson of Dragon General Aviation Group, which is the parent company of L’Voyage, consultancy firm Jet 8 Aviation, and Aerochine, the official representative for Bell Helicopter in Greater China.

“By combining our strengths, we will create a more comprehensive and flexible service offering for our joint clients, whether they need a simple charter flight or for those who require a more complex and customized solution," added L'Voyage CEO Jolie Howard.