Asian Sky Quarterly 2020Q4

MOOD & INTENTIONS: ASIA-PACIFIC REGION SURVEY 2020 Q4
Covid-19 Pandemic
China’s economic recovery in the second half of
2020 had helped stabilize the pessimistic mood of
respondents by the fourth quarter. The highest levels
of optimism were seen in Greater China, where 78%
of respondents said that they are optimistic about
the economy. This is the highest level of optimism we
have seen in the past two years.
COVID-19 IMPACT IN ASIA-PACIFIC
Has the COVID-19 outbreak affected you or your organization’s
business so far?
2020Q1
2020Q2
2020Q3
68%
63%
72% 71%
25% 24%
There are some good signs in this quarter’s COVID-19
section:
• A slight decrease on business impact levels due to
COVID in Q4;
• Domestic business continues to show good signs
of recovery;
• Many respondents now have a clear path of business
development in 2021.
2020Q4
6% 4%
3%
2% 1% 3%
1% 1%
27% 28%
However, whilst economic optimism is high, we have
seen a slow decline throughout 2020 in the number of
respondents saying that that market demand will return
in the short-term future. This could be viewed as
companies readjusting their business goals, and having
lower expectations in the current economic cycle.
Hard to tell Not affected Seriously affected Somewhat affected
Do you foresee market demand bouncing back in the 2nd
half-year of 2020/1st half year of 2021?
Hard to tell at the moment
No
Yes
Aircraft Utilization
40%
38%
38%
36%
The latest data from WingX shows that flight activity
in Asia-Pacific has been steadily increasing since its
low-point in April, with December’s activity being just
24%
27%
29%
32%
3.6% down on December 2019.
This was in part driven by an increase in domestic
flights within Mainland China, which increased by
78.6% between the third and fourth quarters.
Purchase Intention
The fourth quarter also saw a slight increase in the
purchase intentions of respondents, with 45.1%
saying that they would now be willing to purchase an
aircraft. Of the 45.1% that said they would be willing
to acquire aircraft, 23.2.% said they would be willing to
acquire pre-owned aircraft, with the remaining 21.9%
saying they would go for new aircraft.
The top reason limiting respondents purchase
intentions was the limited use they would get from
any acquisition they made.
36%
2020Q1
2020Q2
2020Q3
Rank the following factors that you think are critical to the future
of business aviation / general aviation (the lower the better):
Privacy
Maintenance Support
Value for Price Paid
2.5
3.6
35%
4.0
3.1
2.9
2.7
Flexibility / Punctuality
Cabin Sanitation
More Important
34%
Customer Service
33%
2020Q4
FOURTH QUARTER 2020 — ASIAN SKY QUARTERLY | 11