Business Jet Fleet Report YE2020

SPECIAL FEATURE: COVID-19 IMPACT
With the economic recovery,
entrepreneurs’ need of
purchasing and using
business jets will dramatically
increase. I believe the
business jet market will
have a strong rebound in the
coming years.
Jenny Lau, Group President of Sino Jet
Sam Iliades said, “With flights returning to full domestic capacity and
“travel bubbles” opening between Australia and paired countries,
we see a strong recovery in the market.” Furthermore, Sapmanee
told ASM “COVID-19 has closed borders across the region yet we
strongly believe that private usage is still in its infancy with lots
of room for growth. Besides, infrastructure is where MJets sees
opportunities. Ideally, we want to expand our current operations in
southeast Asia.”
Comparatively speaking, Amber Aviation and Metrojet both have
a more cautious attitude toward its expectation of market. “Our
clients are more conservative in purchasing business jets after
the outbreak of COVID-19.” said Michelle. Amber Aviation says
that it is dedicated to developing diversified charter services for its
clients. “We predict that the need of using business jets will continue
to increase. As the hour card and charter sharing services are still
under development, Amber Aviation will dive deeper into these
fields and endeavor to offer new products which cater to the market
demands.” said Michelle.
“We anticipate seeing an increase in both our flight operations and
MRO lines of business. However, it will continue to take some time
before we get back to 2019 levels of flying.” said Gary. Similarly,
Gary mentioned his perspectives towards the future development in
Metrojet’s business. “JetCard, fractional, and joint ownership are all
additional avenues of growth in the business jet market.” Eventually,
he predicts a bright future for the business jet market. “Not only
will the physical number of business jets increase, so will aircraft
infrastructure see an expansion in southern parts of the region
enhancing aspects of globalization.” said Gary.
The COVID-19 pandemic heavily affected the business jet market
in the short term. However, no long-term shock has been seen.
Furthermore, due to an increase in charter operations attributed to
the COVID-19 pandemic, the demand for business jets is expected
to grow in the coming years. This is because flying privately is one
of the only ways to guarantee that a flight will take place, as well
as the relative safety it offers, both in the air and on the ground.
By combining the information above from operators along with our
market forecast, we can see the business jet market is set to expand
in the near term, especially as operators explore new opportunities
and offer new services.
36 ASIA-PACIFIC BUSINESS JET FLEET REPORT – YEAR END 2020