Not easy to find a private jet in Asia

If you are looking to charter a private jet in Asia, and you are in Thailand, you will be in the country on fourth place for availability in the Asia-Pacific region. Needless to say, this option is for the super-rich, according to a Hong Kong based chartering firm. †There are 18 executive jets available in Thailand for the 26 billionaires of the country, a ratio of 0.7:1, good for a solid fourth place on the lits of totally 9 countries.

A further study has determined that China, Hong Kong and South Korea are among the 15 countries that have the most billionaires globally. Greater China’s 609 billionaires have just 70 chartered private jets to choose from, compared with the 552 billionaires in the US which can choose from more than 2600 private aircrafts. Hong Kong’s 72 billionaires have to fight over 13 private charter aircrafts, and in addition face the challenges of landing slots and parking. Austalian billionaires are the luckiest, with 2 private jets for every ultra-rich person - a result of demand from users in the mining and tourism industries.†

In the study, Singapore ranks second in terms of convenience, with one charter jet available for every billionaire. With strong support from their government, and heavy investments in the infrastructure needed to support the industry, it has now become the region’s most active leasing hub.†

Greater China also has the fastest growing number of billionaires in the world - up 41 people from 595 in 2016 alone. The charter industry is naturally trying to catch up with this fast development. By 2020, China is planning to build some 500 new airports as well as boosting the operating environment for general aviation.†

The current situation is a result of sluggish development of an aircraft-sharing culture, a shortage of talent, and challenging and diverse business aviation regulations. Overall, northern Asia’s charter jet industry lags behind its SE Asian counterparts in Singapore, Indonesia and Thailand. The gold-spooned elite-part of Japan, Hong Kong, China and South Korea, are often hard pressed when booking private jets, especially during peak holiday seasons in Asia.†

Embraer’s new mid-light business jet, the Legacy 450. Asia Pacific has 883 billionaires, but just 265 private jets are available to serve them.†

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