Media

Firms, tycoons eye private jets at show

The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. By Yang Jian and Zha Minjie (Shanghai Daily) JIABEI Yanzi, a coal mine boss from northern China, glimpsed a light Piaggio private jetand soon moved her eyes onto the nearby Boeing 737-700 business jet that was farbigger and cost more than US$30 million. “I’d like to buy this one, as the first one is too small for me,” said Jiabei, vice chairmanof the Yulong Group in Shuozhou, a city

...Continued

Hawker Beechcraft Preparing for Bankcruptcy Filing

The business jet maker Hawker Beechcraft is readying a bankruptcy filing BY MICHAEL J. DE LA MERCED AND PETER LATTMAN The business jet maker Hawker Beechcraft is readying a bankruptcy filing, people briefed on the matter said on Wednesday, dealing a blow to its private equityowners, Goldman Sachs and Onex Partners. Hawker, which is based in Wichita, Kan., said on Tuesday that it had obtained $120 million in additional loans to buy it time to fix its balance sheet. In exchange, a majority of the company’s debt holders agreed to defer some interest payments and grant relief from loan covenants.

...Continued

China the next must have private jets

The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. by Patti Waldmeir It will come as no surprise that rich Chinese have developed a taste these days for private jets. It is a short step, in China, from Gucci to Gulfstream: according to a survey of China’s richest people, released by the Hurun report at the Asian Business Aviation Conference Asian Business Aviation Conference in Shanghai, 13 per cent of Chinese with personal assets over Rmb100m plan to

...Continued

China is getting easier for Business Aviation

China is Getting Easier for Business Aviation But Flight Planning Expertise Still Makes Big Difference The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. AIN ONLINE by CURT EPSTEIN With business aviation in China continuing its upward trajectory, life is getting somewhat more straightforward for this class of aircraft operators according to those most closely involved in trying to help them, namely flight planning and support companies. Though flights into and within the vast country still remain somewhat

...Continued

China the next must have private jets

The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. By Kristine Lim ChannelNewsAsia.com SHANGHAI: China is gearing up for burgeoning growth in its business aviation market as it plans to build its first airport dedicated to this sector by 2015. But before it can really take off, regulations will need to be tightened to ensure that safety standards are met. At Asia’s largest business aviation event held in Shanghai, nearly 30 models of private jets were on display.

...Continued

Fed Up Corporations Turn to Private Jets

Between exhausting lines at security and countless flight delays and cancellations, the concept of a “quick flight” no longer exists. In reaction, many corporations are taking matters into their own hands by investing in corporate jets to fly executives and employees on business trips. For many companies, it is the time savings that turns them onto private jetting. Daniel Jennings, CEO of the Private Jet Company, said that since October 2010, his inquiries from companies looking to purchase private jets have doubled. “Once you are a company that starts having operations regionally and nationally, it gets difficult to do visits in

...Continued

Business aviation as seen by a private jet salesman

Even the bad times can be good for the men and women in the frontline This issue, EBAN begins a series of features looking at the issues facing a particular group of business aviation professionals. ‘Perspectives’ will sound out decision makers on their working life, how they overcome problems and their hopes for the future. The aircraft salesman has to learn how to cope with the stress of working with extremely demanding clients across multiple time zones that can be as much as 17 hours apart in order to cope with a lifestyle that is less glamorous than it appears

...Continued

Warren Buffett – Come fly with me!

Warren Buffett jumped into a new line of work – financing private aircraft. Buffett started hawking little-money-down, low rate, quick-approval loans on a lifestyle-changing purchase. No, America’s wealthiest man isn’t selling subprime mortgages, he has introduced a financing arm to his NetJets unit aimed at helping the well-heeled keep up their luxury-jet lifestyles by loaning them cash to fly on his fleet of 800 planes, which lost a ton of money last year but posted pre-tax profits of $158 million in the first nine months of 2010. Buffett’s NetJets, which sells air travel by the hour aboard posh private jets and

...Continued

How to negotiate the best price for a private jet

Different cultures can negotiate in unique and odd ways. A couple of years ago we were representing the owner in the sale of a Gulfstream GV with a buyer from Asia that was aggressively bidding on a Gulfstream GV’s. This buyer made multiple offers and we finally agreed to a price and began a logbook review. Upon successful log review the client was required by the terms of the purchase agreement to accept or reject within 24 hours of the log review and the buyers came back with a new price. While initially surprised with the price change we asked

...Continued

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Firms, tycoons eye private jets at show


The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. By Yang Jian and Zha Minjie (Shanghai Daily) JIABEI Yanzi, a coal mine boss from northern China, glimpsed a light Piaggio private jetand soon moved her eyes onto the nearby Boeing 737-700 business jet that was farbigger and cost more than US$30 million. “I’d like to buy this one, as the first one is too small for me,” said Jiabei, vice chairmanof the Yulong Group in Shuozhou, a city

...Continued

Hawker Beechcraft Preparing for Bankcruptcy Filing


The business jet maker Hawker Beechcraft is readying a bankruptcy filing BY MICHAEL J. DE LA MERCED AND PETER LATTMAN The business jet maker Hawker Beechcraft is readying a bankruptcy filing, people briefed on the matter said on Wednesday, dealing a blow to its private equityowners, Goldman Sachs and Onex Partners. Hawker, which is based in Wichita, Kan., said on Tuesday that it had obtained $120 million in additional loans to buy it time to fix its balance sheet. In exchange, a majority of the company’s debt holders agreed to defer some interest payments and grant relief from loan covenants.

...Continued

China the next must have private jets


The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. by Patti Waldmeir It will come as no surprise that rich Chinese have developed a taste these days for private jets. It is a short step, in China, from Gucci to Gulfstream: according to a survey of China’s richest people, released by the Hurun report at the Asian Business Aviation Conference Asian Business Aviation Conference in Shanghai, 13 per cent of Chinese with personal assets over Rmb100m plan to

...Continued

China is getting easier for Business Aviation


China is Getting Easier for Business Aviation But Flight Planning Expertise Still Makes Big Difference The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. AIN ONLINE by CURT EPSTEIN With business aviation in China continuing its upward trajectory, life is getting somewhat more straightforward for this class of aircraft operators according to those most closely involved in trying to help them, namely flight planning and support companies. Though flights into and within the vast country still remain somewhat

...Continued

China the next must have private jets


The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace. By Kristine Lim ChannelNewsAsia.com SHANGHAI: China is gearing up for burgeoning growth in its business aviation market as it plans to build its first airport dedicated to this sector by 2015. But before it can really take off, regulations will need to be tightened to ensure that safety standards are met. At Asia’s largest business aviation event held in Shanghai, nearly 30 models of private jets were on display.

...Continued

Fed Up Corporations Turn to Private Jets


Between exhausting lines at security and countless flight delays and cancellations, the concept of a “quick flight” no longer exists. In reaction, many corporations are taking matters into their own hands by investing in corporate jets to fly executives and employees on business trips. For many companies, it is the time savings that turns them onto private jetting. Daniel Jennings, CEO of the Private Jet Company, said that since October 2010, his inquiries from companies looking to purchase private jets have doubled. “Once you are a company that starts having operations regionally and nationally, it gets difficult to do visits in

...Continued

Business aviation as seen by a private jet salesman


Even the bad times can be good for the men and women in the frontline This issue, EBAN begins a series of features looking at the issues facing a particular group of business aviation professionals. ‘Perspectives’ will sound out decision makers on their working life, how they overcome problems and their hopes for the future. The aircraft salesman has to learn how to cope with the stress of working with extremely demanding clients across multiple time zones that can be as much as 17 hours apart in order to cope with a lifestyle that is less glamorous than it appears

...Continued

Warren Buffett – Come fly with me!


Warren Buffett jumped into a new line of work – financing private aircraft. Buffett started hawking little-money-down, low rate, quick-approval loans on a lifestyle-changing purchase. No, America’s wealthiest man isn’t selling subprime mortgages, he has introduced a financing arm to his NetJets unit aimed at helping the well-heeled keep up their luxury-jet lifestyles by loaning them cash to fly on his fleet of 800 planes, which lost a ton of money last year but posted pre-tax profits of $158 million in the first nine months of 2010. Buffett’s NetJets, which sells air travel by the hour aboard posh private jets and

...Continued

How to negotiate the best price for a private jet


Different cultures can negotiate in unique and odd ways. A couple of years ago we were representing the owner in the sale of a Gulfstream GV with a buyer from Asia that was aggressively bidding on a Gulfstream GV’s. This buyer made multiple offers and we finally agreed to a price and began a logbook review. Upon successful log review the client was required by the terms of the purchase agreement to accept or reject within 24 hours of the log review and the buyers came back with a new price. While initially surprised with the price change we asked

...Continued

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