Hongqiao lands annual jet show
ATTRACTED by China’s growing number of super rich, a United States business aviation association yesterday signed a contract with the Shanghai Airport Authority to hold a business jet show in the city for the next five years.
The first Asia Business Aviation Conference and Exhibition will be held from March 27 to March 29 next year at Hongqiao International Airport.
The National Business Aviation Association event is expected to have some 200 exhibitors and hopes to draw 5,000 to 6,000 visitors, including leading manufacturers, financiers, business people and high-ranking government officials.
The show will feature a display of 30 of the most modern aircraft.
Airbus Corporate Jets, Boeing Business Jets and Bombardier Aerospace will be among the business jet producers at the event.
“In 2005, NBAA hosted the first business aviation event in China right here in Shanghai. It was a small show at a time when very few people believed in the future of business aviation in Asia,” Ed Bolen, president of the association, said.
“Today, we not only have a beautiful hanger at Hongqiao that will be the site of the show, but we have also seen a longterm plan that involves the construction of a major convention center on airport property.”
China is becoming one of the fastest growing markets for business aviation with high net worth individuals keen to own their own private aircraft.
The 2010 Hurun Rich List said that one-sixth of 2,000 yuan billionaires on China’s mainland had plans to buy private jets or helicopters.
Shanghai’s two civil airports handled 3,500 departures and landings of business aircraft in 2010, about 33 percent of the country’s total, the Shanghai Airport Authority said. That number is expected to rise to 6,000 over the next two to three years.
The government has pledged to reform the country’s airspace management system and improve airspace allocation.
The country will need 10,000 to 12,000 aircraft in the general aviation field next year, according to civil aviation authorities. The market value for related industries, led by general aviation, is estimated at 1 trillion yuan (US$154.7 billion).