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. Airbus says corporate jet sales will rebound next year

by Staff Writers
Hong Kong (AFP) Sept 3, 2009
European aviation giant Airbus said Wednesday it expected sales of its corporate jets to rebound next year on the back of the fast-growing Chinese market.

Francois Chazelle, vice-president of executive and private aviation at Airbus Middle East, said more Chinese billionaires would consider buying their own corporate jet as a more convenient option to travelling commercially.

"We do see the market bouncing back, with the largest number of expressions of interests coming from China," he told reporters ahead of next week's Asian Aerospace show in Hong Kong -- the region's largest event of its kind.

He said interest would be especially keen among Chinese businessmen in the oil trading, construction and chemical sectors who were looking to buy companies after the financial crisis.

The proportion of billionaires owning a private jet in China is about a tenth of that in the US, he added.

Chazelle admitted there was a slowdown in the corporate jet business last year, but did not give a breakdown.

Airbus has received 150 orders since it started making corporate jets 10 years ago, with about 20 of the orders made by China over the last five years.

However, the majority of the firm's total orders came in the past few years and Chazelle said he expected business would return to normal in 2010, with sales of about 20 to 30 jets.

Airbus's corporate jet unit offers models based on its commercial aircraft, ranging from the single-aisle A318 to the double-decker A380.

Airbus said the Middle East, Asia and Europe are its three biggest corporate jet markets.

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