Asian Sky Quarterly 2022 Q1

MOOD & INTENTIONS: QUARTERLY SURVEY
All signs are good, except in the Greater
China market. A major COVID-19 outbreak hit
Hong Kong during December-January which
shelved the Hong Kong government’s efforts
to open its border with mainland China again.
Mainland China itself was later hit by another
COVID-19 wave, with Shanghai facing the
brunt, forcing the city into total lockdown.
This seriously affected fleet utilization in the
region, as well as domestic business demand.
When asking for people’s understanding of
the current economic cycle in Asia-Pacific,
we saw optimism reach 76%, which is a 10%
decrease compared to the previous quarter.
This is the first major decrease we have seen
since Q1 2020, when the COVID-19 outbreak
first took place.
Aircraft Utilization
According to WingX Advance, a German
business aviation consultancy firm, flight
activity increased during the first quarter
across Asia-Pacific, except for regional cities
in Greater China. From our survey, a total of
57% of respondents reported that their fleet
utilization increased. Overall, most regions’
respondents believe that market demand was
higher in Q1 2022 than it was in Q1 2021,
except in the Greater China market.
Purchase Intentions
COVID-19 IMPACT IN ASIA-PACIFIC
Has the COVID-19 outbreak affected you or your
organization’s business so far?
6%
3%
Do you foresee market demand bouncing back in the 2nd
half-year of 2022/1st half year of 2023?
40%
24%
36%
2020Q1
2020Q2
2020Q3
2020Q4
2021Q1
2021Q2
2021Q3
2021Q4
2022Q1
1%
2%
2%
0%
Hard to tell
Hard to tell at the moment
38%
27%
35%
1%
1%
5%
4%
38%
29%
34%
1%
3%
1%
5%
Not affected
5%
5%
5%
5%
36%
32%
33%
No
27%
44%
30%
63%
Yes
68%
72%
71%
68%
72%
65%
66%
62%
Seriously affected
33%
41%
26%
32%
38%
31%
27%
28%
25%
24%
25%
23%
29%
27%
Somewhat affected
30%
37%
33%
28%
62%
12%
26%
Respondents falling into the broker category
have reported that we are in a seller’s market
for three consecutive quarters, with this
quarter reaching 55%.
2020Q1
2020Q2
2020Q3
2020Q4
2021Q1
2021Q2
2021Q3
2021Q4
Rank the following factors that you think are critical to the
future of business aviation / general aviation:
2022Q1
There has been an uptick in new purchase
intentions from our respondents, which
Customer Service
2.6
is now at 30%. This is a good sign that
operators / aircraft owners are thinking of
either upgrading or adding new aircraft, to
their fleets.
Cabin Sanitation
Privacy
3.8
3.6
3.5
Value for Price Paid
2.6
2.8
Most Important
Flexibility / Punctuality
Maintenance Support
FIRST QUARTER 2022 — ASIAN SKY QUARTERLY | 19