China may have most private planes in 10 years

China only has 150 private planes, compared to more than 200,000 in the U.S, said Xu Yuhai, a member of the China Private Plan Committee. But according to recent data, China has 875,000 millionaires and 60,000 billionaires, and one sixth of them have plans to buy private planes. Thus China’s market of 155,800 potential customers.

"Like private cars, private plane can save you much time and make you more capable for management," said one manager.

If there are only 5 percent of the billionaires who want to buy private planes, there will be a 150 billion yuan market, which would be much larger if the related services were counted.

Ma Xin, deputy director of the Civil Aviation Management Committee said that China will start low-altitude airspace management in 2013. Three sections will be divided within 10 years, which will help open up new markets for private planes.

According to local media, the new private plan purchasing method also comes as some customers choose to get together in group purchasing of private planes, and each person can pay for 10 to 20 million yuan, and use the plane together.

"People may trust you more if you own a private plane," said Zhai Jiahua, chairman of China Stem Cell Group. "But the problem is that the daily cost is a little high, you have to pay 30 billion yuan at least including airline application fee."

Source:   http://www.sino-us.com