Hony-Backed NetJets Plans Mid-Year Launch Of China Service


Global private aviation firm NetJets Inc. says that it is preparing to begin its China business once government approval is finalized, according to a company announcement.

NetJets, a Berkshire Hathaway company, is hiring employees in China, partnering with vendors and positioning aircraft to the Chinese market. It expects government certification to be granted mid-year in 2014.

NetJets’ China business is operated through NetJets Business Aviation Ltd., part of a joint venture between NetJets Inc., Hony Capital, and Fung Investments.

Feng Investments is the private investment arm of the Fung families that controls Hong Kong-based sourcing firm, Li & Fung Ltd.

"we see great potential for private aviation in China, as well as throughout Asia," says NetJets chairman and CEO Jordan B. Hansell.

NetJets has hired Eric Cheng as its director of safety. Cheng has worked in the aviation industry for more than 35 years, including over 23 years in the Hong Kong Civil Aviation Department (HKCAD).

He is also a pilot experienced in flying Airbus, Boeing, Bombardier, Hawker and Dassault aircraft and is a certified International Civil Aviation Organization (ICAO) Safety Management Systems (SMS) instructor.

The company is also expanding relationships with key vendors including Savoya, a high-end chauffeured ground transportation service provider.

Arrangements also are being finalized to position two NetJets aircraft in the market to support its charter business.

In November 2012, NetJets China said it is establishing its operational headquarters in the Zhuhai Aviation Industrial Park.

It also unveiled a program to serve Chinese corporate and individual clients traveling in the U.S. and the E.U.

 

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