Wealth Blog | Chinese business aviation – hurry up up and wait
China’s business aviation is one sector that seems to lag way behind the curve. Pent-up demand for private jets is mounting, but when it comes to China, they’re all revved up with nowhere to go. That is in comparison with Europe, and America, which are decades ahead when it comes to servicing, ground handling, staff training and airspace management. Granted, China’s business aviation industry is relatively young and small, but as I have reported before, the world’s business jet manufacturers view it as the next bonanza.
Plans in place
To give them credit, China’s 12th Five-Year Plan targets include ramping up aviation infrastructure, improving the efficiency of utilisation of airspace and reforming airspace management. But global aircraft charter specialists such as Chapman Freeborn Airchartering highlight the hurdles to cross before growth explodes in China’s business aviation. An insider from China Civil Aviation (CAA) says: “From the airspace standpoint, it will not be easy for business aviation to achieve rapid development under the existing regulation for Air Traffic Control (ATC). Unlike America’s low-altitude airspace, China’s operates under strict limits. The opening of airspace will require high-level government decision-making; the CAA and ATC alone will not be enough to change the status quo.”
Big guns needed
The various government departments are also still fumbling through the standard for China’s future low-altitude airspace. At the moment, it is apparently still unclear how the airspace below 1000m will be measured.
The CAA insider adds that from the infrastructure perspective, China still lacks enough airports and there are none exclusively for business jets. However, discussions are in progress to speed up airport construction and facilities to support private aviation. “Airport construction remains a long-term work – it involves land, commerce, airspace and many other issues; there is also a big restriction on investors.”
Don’t hold your breath