Monday, September 10, 2012

China's jet set grounded by lack of pilots, paperwork

HONG KONG: Bombardier Inc, the world's No. 3 aircraft maker, thinks Chinese executive jet buyers will take delivery of 2,400 new planes in the next 20 years. All China needs now is pilots to fly them, mechanics to fix them, and airports to land them.

With fewer than 200 private jets for a population of 1.3 billion people, China's growth potential is huge. But reams of red tape, snarled-up air space and a shortage of trained pilots suggest it won't live up to the promise any time soon.

The private jet potential has caught the attention of some big-name investors. Warren Buffett's NetJets made the world's largest order of executive jets in June in a deal worth $9.6 billion, months after it announced a China venture with private equity firm Hony Capital.

Read more here:

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.