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“The biggest factor that impacted the business jet market was pessimism and uncertainty which stalled purchase intentions or forced those marginal owners to reconsider keeping their business jets,” said Jeffrey Lowe, managing director of Hong Kong-based Asian Sky Group versace cufflinks amazon. Still, Canada’s Bombardier sees its new $73 million Global 7500 business jet making inroads in Greater China against market leader Gulfstream’s $65 million-plus G650 family. The plane and train maker said on Sunday it secured firm orders for four Global 7500 planes that were converted from options taken by Hong Kong-based business jet management company HK Bellawings in 2018..
Greater China’s number of billionaires has been growing yearly by 10 percent over the past three years, and the Global 7500’s long range will help to “seize market share and to withstand any economic uncertainty in the region,” said Bombardier Business Aircraft President David Coleal by email versace cufflinks amazon. Both Gulfstream’s 650ER and the Global 7500 connect far-flung cities like New York and Tokyo, an allure for elite Asian buyers who want to fly non-stop to Western hubs. “You don’t need a G7500 to fly three or four hours. But when you do need (longer) range you can use this jet,” said Thomas Flohr, founder and chairman of Vista Global and a Global 7500 customer..
Gulfstream, a division of General Dynamics, which brought its large-cabin G500 jet into service last year, delivered 68 new corporate aircraft between 2015 and 2018 in the region, more than double the 32 planes delivered by its Canadian competitor, according to Asian Sky. On Monday, Gulfstream announced the sale of a G650 to Chinese manufacturing and metal distribution company Jiachen Group versace cufflinks amazon. Gulfstream President Mark Burns said by email the U.S. company is seeing more optimism in the region and is “starting to see more activity as trade talks appear to be progressing and becoming more specific.”..
The Asia Pacific region, nevertheless, accounted for only about 8 percent of the 3,478 business jets delivered globally over the last five years, compared with 2,122 jets delivered to North America, according to Cirium Fleets Analyzer data. And the number of Chinese-owned second-hand business jets sold outside the country rose to 20 in 2018, compared with an annual average of 10 from 2014 to 2017, according to the Cirium data versace cufflinks amazon. Jackie Wu, president of JetSolution Aviation Group, said weaker business jet sales have prompted her Hong Kong company to launch its first charter service using the supermidsized Embraer Legacy 600..
SHANGHAI (Reuters) – Volkswagen is pushing its joint venture partners including SK Innovation (SKI) to build electric car battery plants which have at least one Gigawatt manufacturing capacity, Chief Executive Herbert Diess told Reuters. “Anything below that amount would make little sense,” Diess said on the sidelines of the Shanghai Auto Show on Sunday. Volkswagen will buy 50 billion euros ($56.57 billion) worth of battery cells for electric cars and has identified South Korea’s SKI, LG Chem and Samsung SDI as strategic battery cell suppliers as well as China’s Contemporary Amperex Technology Co Ltd (CATL) versace cufflinks amazon.