NetJets China Business Aviation Ltd. Will be the newest member of the NetJets International family. While this new joint venture with Hony Capital and Fung Investments has current NetJets’ clientele calculating the exchange rate on their existing fractional cards, it’s important to understand that this is a work in progress and fractional ownership in China isn’t available just yet. Here’s where things stand:
- It’s taken NetJets 3.5 years to get to this point of the process, and while they have obtained a Charter Certificate, other Regulatory Approvals are still pending;
- NetJets anticipates mid to late 2013 before China operations begin and NetJets has made it clear their initial focus will be on managing and chartering aircraft that are wholly owned by customers, rather than fractional ownership;
- They have yet to announce a timeline to introduce the fractional ownership; and finally,
- Infrastructure, (i.e. FBOs, pilots, etc.) while currently being developed, is very limited at this stage.
The good news is, while the birth of this new family member may still be a couple of years in the waiting, it may be well worth the wait if you enjoy the benefits of fractional ownership.
- Rising wealth in China means a growing aviation industry;
- Asians typically travel in larger groups and are more image conscious, therefore larger aircraft will be utilized in the NetJets China fleet. Mid to Large cabin aircraft primarily obtained through a Bombardier order in 2010;
- NetJets China will be headquartered in Zhuhai, which is a one hour fast ferry from Hong Kong;
- Competition is good, and will offer fractional owners another options over other fractional organizations such as Flight Options, LLC.