ecns [expanded by feedex.net]
ecns
Minsheng completes business jet takeover
http://www.ecns.cn/business/2014/11-25/144229.shtml
Nov 25th 2014, 08:59
2014-11-25 16:59 Web Editor: Qin Dexing
China Minsheng Investment Corp Ltd, the nation's first large private investment company, has completed the acquisition of Minsheng International Jet and Asia United Business Aviation Limited, and is now set to become the country's second-largest private business jet charter after NetJets Inc, a US subsidiary of Warren Buffett's Berkshire Hathaway.
Minsheng Investment has acquired 61.25 percent of Minsheng International Jet for 1.19 billion yuan ($194 million).
The company became Asia's largest business jet leasing firm after it fully acquired Asia United Business Aviation Limited.
Officials said Minsheng International Jet is now looking to establish a network of business jet operations geared towards the Chinese market and has outlined an ambitious expansion plan under which it hopes to increase its fleet to 500 aircraft over the next five years.
US general aviation company NetJets made a significant inroad into the Chinese market in September after it gained operational approved.
The two companies are now likely to compete head to head in a private business jet market with huge potential. China is expected to have more than 5,000 business aircraft operational by 2020, with overall assignments logged at 2 million hours a year, a growth rate of 19 percent on current levels.
Domestic market demand for business jet services is set to reach $15.5 billion, following the recent policy easing on opening up of low-altitude airspace, according to the Civil Aviation Administration of China.
ShareX
QQ Miniblog
bSync
Sina Miniblog
Qzone
Sohu Miniblog
Xinhua Miniblog
Shou Ji
Netease MB
Kaixin001
Douban
phone fast transmit
Renren
Tianya
IFeng MB
QQ Friends
WeChat
QQ friend
More... (133)
bShare
You are receiving this email because you subscribed to this feed at https://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt
No comments:
Post a Comment