Jetcraft Corporation has commented on the state of the business aviation market in Asia.
"Few would dispute that Asia is one of the hottest markets for sales of new long range/large business aircraft," says Chad Anderson, president, Jetcraft Corporation.
"Looking at our sales figures for 2011, Jetcraft sold about a 20% new and 80% pre-owned mix of aircraft worldwide - with most new aircraft sales going to clients in China, Singapore, Malaysia and Indonesia. We expect sales of new business jets in the region to remain an important part of our business going forward. However, we are also looking ahead to best position Jetcraft to participate in the pre-owned market that will inevitably emerge - particularly in China. Additionally, an increased presence in Asia is a logical extension of our growth strategy, which has taken us to Europe, Russia and the Middle East in the past four years. Following the opening of our Zurich, Switzerland office last year, we now look forward to making a major announcement about our presence in Asia," adds Mr. Anderson.
"We believe that there is a very compelling trend taking shape in Asia beyond the short-term opportunities," continues Jahid Fazal-Karim, co-owner and board member, Jetcraft Corporation.
"As the number of new business aircraft based in Asia begins to grow, we can anticipate a replacement/upgrade cycle within the next three to five years. The inevitable consequence of this cycle will be an inventory of locally-operated pre-owned business aircraft. Most of these aircraft will be long range/large models, including: Bombardier Globals and Challengers, Gulfstreams, Dassault Falcons, etc. Furthermore, we believe that as this inventory reaches the market, it will present attractive opportunities for our clients - not only to purchase pre-owned aircraft within or from Asia but also to sell upgrades. Traditionally, the Asian market has favored new aircraft. But, we believe that a growing inventory of relatively-new, high-quality and locally-certified aircraft will attract buyers. This emerging trend further validates Jetcraft's strategic decision to increase our presence in Asia, not just for the short term, but for years to come," concludes Mr. Fazal-Karim.
The company has an exhibition stand and will showcase aircraft in the static display at the Singapore Airshow. The show is being held from 14 - 19 February 2012.