Although the pandemic grounded most regular commercial aircraft around the world with its arrival, on the contrary it increased the demand for private flights. Those who could afford to buy or rent a jet often did so to avoid the risk of contracting covid-19 on board a regular plane, or simply to get to their destination comfortably at a time when a large number of air connections were canceled.
In China, the trend is known to this day. The number of domestic and international flights by private jets from China this January was a third higher year-on-year and ten percent higher than in 2019, i.e. before the pandemic, according to data from the analytical company WingX.
The extreme wave of demand was triggered by Beijing’s recent turnaround as the government eased unprecedentedly tight anti-pandemic measures. “Sometimes we just can’t get the plane the client wants,” FT quotes Daniel Tsang, manager of Asian Sky Group, which offers private flights.
The excess pressure of demand over supply is also reflected in the increased price, which is also reflected in the more expensive aviation fuel. Tsang gives the example of a Bombardier Global 6000 flight for up to thirteen people from Shanghai to Bangkok. Before the onset of the pandemic, the applicant cost less than one hundred thousand dollars (over 2.2 million crowns at the current exchange rate), currently clients are paying around $120,000 for it.
In addition to the Thai capital and Japan, Singapore is also one of the most popular destinations, where more and more wealthy Chinese are safely “parking” their property. Similarly, domestic flights are sold out months in advance, for example for the route Beijing – Shenzhen. A number of Chinese took advantage of the trend. It took advantage of excess demand over capacity by selling its jet at a bargain price, which happened on a large scale last year. The number of private jets registered in China fell to 301 last year, from 345 at the end of 2020, according to Global Sky Media data.
Private flight operators are therefore buying more aircraft to meet demand. Among other things, one of the world’s largest manufacturers of private jets Bombardier states that China remains an important market with great potential for further growth both in the segment of aircraft sales and in the segment of after-sales services to existing owners.
