Used Jets

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Second hand corporate jets go to China.

Last year, for the first of its kind, China's purchasers were importing more used jets than.... However, the increase in used aircrafts indicates that trust among purchasers in China is improving, which could lead to increased sale of new aircrafts. Pre-owned airplanes can be as good as new ones, much cheaper and immediately available instead of having to join a long supply chain at the plant.

According to the Hong Kong based Asian Sky Group, Greater China owners bought 39 used planes in 2017 versus only 19 in 2016. This is in line with other indications that China's post-2013 drying up market is returning, says Jeffrey Lowe, Asian Sky's CEO.

Revived market demands should first be seen on the arrival of second-hand planes, which arrive very soon after signing the contracts, and not on supplies from manufacturer. A similar recovery in trust is likely to have an impact on future air traffic requirements, but will only be reflected in a year or two before fleets enter the market.

Last year, the import volume of 29 corporate jets from Greater China was down on 2016 at 34, but not very significant, shipments. For all four sites, the best indication of development in continental China is the combination of the fleets, as often carriers store their planes elsewhere, particularly in Hong Kong.

Last year this portfolio increased from 476 to 512 planes, almost double the 4.4% increase in 2016. A fight against bribery that began in 2013 deterred many affluent Chinese mainlanders who would otherwise have been able to buy planes. Dassault also says that China's level of consumer spending is higher than ever since 2013.

Lowe also said that a new issue had emerged for businesses trying to resell corporate jets to continental purchasers in China: a strengthening of constraints on outflows. However, for years China has limited the conversion of Japanese yuan into other currencies for financial reasons (as opposed to trade), but there have been ways to circumvent the regulations.

There are not so many available now, and Asian Sky is always saying that clients with lots of Japanese Yuan want to buy a plane but can't get it. Minsheng Financial Leasing's corporate jet operations were able to help some short-sighted carriers by using leasing contracts, says Lowe.

Traditional long haul customers, in particular those of Gulfstream, will retain their existing preferences for large long haul jets. "Lowe says the G650 is smothering the market absolutely," and notes that on a monthly basis almost two planes of this kind arrive in China, Hong Kong, Macau and Taiwan.