4Hoteliers
SEARCH
SHARE THIS PAGE
NEWSLETTERS
CONTACT US
SUBMIT CONTENT
ADVERTISING
China Business Aviation Special Report 2016.
Wednesday, 27th April 2016
Source : Hurun Research Institute

China needs 1450 more business jets. Market need of 1750 but only 300 bought to date.

Minsheng Financial Leasing and Hurun Report release China Business Aviation Special Report 2016

Number of Chinese super wealth creators: Mainland China has 970 dollar billionaires and 5600 individuals with net worth over US$300m (CNY 2bn). The Hurun Rich List ranks 470 dollar billionaires, but Rupert Hoogewerf, chairman and chief researcher of Hurun Report, says:” You can bet your bottom dollar that for every billionaire we have found, we are missing at least one.”

Business jets needed: 1750, growing to 2300 in five years. Assuming 50% of dollar billionaires will sooner or later buy 1.5 business jets on average at an average price of US$45 million, and that 20% of individuals with US$300m to US$1bn will buy 1.1 business jets on average at US$20m, then

China’s super wealth creators today ‘need’ 1750 business jets. This compares with only 300 bought to date. This is further broken down into Chinese billionaires currently needing 740 big jets, and individuals between US$300m to US$1bn needing 1010 smaller jets.

Charter market size: 205,000 hours, growing to 270,000 hours per annum in five years. Assuming that 40% of dollar billionaires need 150 hours of charter a year, that 30% of individuals with US$300m to US$1bn need 50 charter hours, and that 10% of individuals with US$30m to US$300m need 10 charter hours, then the current market need is 205,000 hours.

Main reasons for not buying business jets. Issues with flight plan approval and landing rights were main reasons for not buying a jet. Other reasons included lack of cash, despite high valuations of stocks, and fear of standing out too much in the current political climate.

Time efficiency and feeling of independence main reasons for buying jets.

Beijing overwhelmingly business jet capital with 35% of Chinese-owned jets based there. East China, anchored by Shanghai, has 25%, followed by Pearl River Delta, anchored by Shenzhen and Guangzhou, has 20%. The rest of the country has 20%.

Most frequent flight routes. Domestically, between Beijing, Shanghai, Shenzhen and tropical holiday destination Sanya. Short-haul to HK, Japan, Seoul, Singapore. Long-haul to NYC, LA, San Francisco, Paris, London and Sydney.

Most frequent usage. Summer holidays and Chinese New Year most popular times to use business jets.

24 of the Top 100 of the Hurun China Rich List are known to own 32 business jets between them.


Hurun Research Institute and Minsheng Financial Leasing today jointly issued ‘China Business Aviation Special Report 2016’, a 29-page report highlighting the current market need for business jet purchases and charter in China and with an exclusive survey of current and potential jet owners. This is the first year of the report.

Hurun Report Chairman and Chief Researcher Rupert Hoogewerf (right) said, “Business aviation in China has enormous potential, with a current market need for 1750 jets compared with only 300 purchased to date. I am delighted to put out this report with Minsheng Financial Leasing, the absolute market leader, when it comes to business aviation in China.”

Business jets of the Top 100 Hurun Rich List

Established as a research unit in 1999, Hurun Report Inc. has grown into a leading media group targeted at China and India high net worth individuals. Its flagship is the Hurun China Rich List and, since 2012, the Hurun Global Rich List. Headquartered in Shanghai, Hurun Report has offices in Beijing, Guangzhou, Chengdu, Sanya, London, Los Angeles, Chicago and Cochin, Kerala in India.

Hurun Report Inc has five divisions.

Hurun Research (‘Nobody Knows China’s Rich Better’) has grown to become the world’s leading authority when it comes to understanding the Chinese high net worth individual. Recent reports include partnering with some of China’s most important financial institutions, local government, multinationals and luxury brands, including Bank of China, Taikang Life, Minsheng Bank, Minsheng Financial Leasing, Industrial Bank of China and the Changbaishan government.

Hurun Media (‘The Voice of Chinese Entrepreneurship’) reaches between one and two million unique viewers a week through its digital platform and a further 485,000 a month through its print media. Digital media is made up of 7 Wechat social media, an online business talk show called MaShangHu, distributed through iQiyi, CBN and Ningxia Satellite, and Hurun.net. Our flagship Wechat media is Hurun Business, with others including Hurun Education, Hurun Art, Hurun Horse & Sports, Hurun Health, Hurun Property and Hurun English.

Hurun Conferences and Training hosts over 100 events across China every year, led by its flagships in Beijing and Shanghai every year. Hurun Conferences and Training brings Chinese entrepreneurs aboard, to the US, London, Singapore, Australia and India.

Hurun International. Hurun Report Inc established its India business in 2012, which today is best-known for the Hurun India Rich List, Hurun India Philanthropy List and for hosting events with some of India’s most respected entrepreneurs.

Hurun Investments includes a CNY 100m early-stage venture capital fund, and strategic investments in media, education, classic cars, financial services and luxury.

For further information, see www.hurun.net

 Latest News  (Click title to read article)




 Latest Articles  (Click title to read)




 Most Read Articles  (Click title to read)




~ Important Notice ~
Articles appearing on 4Hoteliers contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.
© Copyright 4Hoteliers 2001-2024 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here
Use of this web site is subject to our
terms & conditions of service and privacy policy