Massive potential for business aircraft
Print Edition
ALIBABA Chairman Ma Yun, Fosun Chairman Guo Guangchang and China’s richest man Wang Jianlin are among 32 of the country’s rich businessmen who have purchased their own business jets, according to a survey released yesterday.
Wang, chairman of the Dalian Wanda Group who was again the richest man in China with US$26 billion, and Ma, the nation’s second-richest, own the US-made Gulfstream G550 that can seat 18 passengers and fly from Shanghai to New York directly, according to the survey by the Hurun Research Institute and China Minsheng Bank. Guo has a French-made Dassault Falcon 7X.
Other high-profile private jet owners include Evergrande President Xu Jiayin who owns two business jets, and Li Yanhong, Baidu’s founder, chairman and CEO, the survey said at the 2016 Asian Business Aviation Conference & Exhibition, which closes today.
China currently has 300 business aircraft owned by both companies and individuals.
“Business aviation has grand potential in China’s mainland, in the next five years this number can surge to over 2,000,” said Hurun Report Chairman and Chief Researcher Rupert Hoogewerf.
His research showed that 1,820 rich people on the Chinese mainland have the means to purchase business aircraft worth 460 billion yuan (US$71 billion) in the next five years.
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