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Greater Bay Area Aviation Report 2019 UPDATE GREATER BAY AREA AVIATION REPORT In association with Beijing Shanghai Shenzhen Hong Kong Singapore ABOUT ASIAN SKY GROUP ASIAN SKY GROUP (ASG) is headquartered in Hong Kong, with offices throughout the Asia-Pacific region. Through longstanding and strategic partnerships, ASG’s work extends worldwide. It has assembled the most experienced business aviation team in the region to provide a wide-range of independent services for both fixed-wing and rotary-wing aircraft. The company also provides access to a significant client base around the world. ASG is backed by SEACOR Holdings Inc., a publicly listed US company (NYSE: “CKH”) and by Avion Pacific Limited, a Mainland China- based provider of general aviation services with 20 years of general aviation experience and six offices and bases throughout the country. The following services are available through ASG: AIRCRAFT SALES & ACQUISITIONS | AVIATION CONSULTING | AIRCRAFT CHARTER SERVICES | MEDIA & MARKETING SOLUTIONS ABOUT ASIAN SKY MEDIA The acclaimed Asian Sky Fleet Reports are produced by ASG’s market research and consulting team, in collaboration with ASIAN SKY MEDIA (www.asianskymedia.com) — a division of ASG focusing on media, publications and aviation marketing services. Asian Sky Media has a growing portfolio of business aviation reports designed to provide valuable information to readers for a better understanding of the market. Included in this portfolio are the Asia Pacific Fleet Reports for both civil helicopters and business jets, produced annually. Asian Sky Quarterly provides a reader-friendly look at market dynamics within the pre-owned business jet and civil helicopter markets. Additionally, ASG produces the Asia Pacific Business Jet Charter Report; Asia Pacific Training Report; Asia Pacific Infrastructure Report; and the China GA Report — focusing on the status, challenges and future of these respective industry segments. Through its marketing services, Asian Sky Media offers aviation companies online and offline opportunities to enhance brand awareness, develop a more strategic marketing plan and connect with target audiences in the Asia-Pacific region and worldwide. DISCLAIMER The information contained in this report is provided free of charge for reference only. While such information was compiled using the best available data as of October 2018, ASG makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, or suitability of such information. ASG is not responsible for, and expressly disclaims any and all liability for damages of any kind, either direct or indirect, arising out of use, reference to, or reliance on any information contained within this report. Should you wish to reproduce or distribute any portion of this report, in part or in full, you may do so by mentioning the source as: “Asian Sky Group, a Hong Kong based business aviation consulting group”. Thank you for your interest in this report. We hope you will find the information useful. If you would like to receive further information about our other aviation services and reports, please contact us at [email protected]. CONTACT Suite 1401, Fortis Tower, 77-79 Gloucester Road, Wan Chai, Hong Kong Telephone +852 2235 9222 | Facsimile +852 2528 2766 www.asianskygroup.com | www.asianskymedia.com CONTENTS 02 PUBLISHER’S NOTE UPDATED 03 FOREWORD BY HFW UPDATED 04 EXECUTIVE SUMMARY 05 GREATER BAY AREA OVERVIEW 11 GENERAL AVIATION MARKET OVERVIEW 20 INTERVIEW: KINGS AVIATION 23 INTERVIEW: TAG AVIATION (ASIA) 25 FUTURE DEVELOPMENTS BY HFW UPDATED PUBLISHER’S NOTE In 2017, Asian Sky Group • On February 18, 2019, the Chinese Government released the inaugural published an outline development plan for the China General Aviation Greater Bay Area including aviation. Report, which focused on the evolving GA landscape To explain further the challenges and opportunities in China. The report was these initiatives present, this ‘updated’ Greater Bay Area timely in that in coincided Aviation Report is published in association with Holman with significant changes Fenwick Willian (HFW) who have a full-service aviation happening in China’s GA team in Hong Kong that provides insight across the full industry. spectrum of developments in the aviation market. In November 2018, more The scale and potential impact of the Greater Bay developments came about Area is hard to ignore. With that, we hope this second as the Chinese Government continued to place a high edition of the report will help you keep pace with its emphasis on GA in one of the country’s highest producing developments and the significance of the Greater Bay economic regions; the Greater Bay Area, which is made Area. up of nine cities in China’s Guangdong Province, along with Hong Kong and Macau. ASG outlined these initiatives and their significance to GA in our first Greater Bay Area Aviation Report, while also detailed the makeup of the GA fleet — a breakdown of the business jet, helicopter, turboprop and piston fleets. And now, with the arrival of ABACE, it’s a good time to Sincerely, revisit the Greater Bay Area Aviation Report, as several Jeffrey C. Lowe developments have come about in late 2018 and early Managing Director, Asian Sky Group 2019 including strategic agreements, outlines and MOUs. • On November 5, 2018, the CAAC signed a strategic agreement with Guangdong Province to accelerate airport construction in the Greater Bay Area; • On December 10, 2018, the CAAC published its action plan for aviation through 2050; 2 | CHINA GA REPORT - 2019 UPDATE FOREWORD Aviation has been designated as a strategic industry to play a leading role in China's economic development, and so it is no surprise that the Chinese Government's plans for the Greater Bay Area announced in February this year include substantial support for commercial and general aviation. These plans represent a significant opportunity for general aviation, despite current geo-political tensions and economic headwinds – not only because of the dramatic projections for increased economic activity within the Greater Bay Area (centred around innovation, technology and e-commerce), but also due to the emphasis on much greater coordination and connectivity between Hong Kong, Macau and the other 9 Greater Bay Area cities. We are optimistic that general aviation will benefit from the development of the Greater Bay Area, but in order for that to happen, certain key issues will need to be addressed. These include improving the regional infrastructure for general aviation, and better coordination of regional airspace and airport slots. In addition, as connectivity lies at the heart of the Greater Bay Area, the current restrictions on cross-boundary helicopter services should be eased, and those services enhanced. Other challenges also exist, which will need to be overcome for the Greater Bay Area to succeed. For example, the different legal and political systems, tax regimes, currencies, and customs areas across Hong Kong, Macau and the other Guangdong cities will all require coordination. Nonetheless, given the political will behind the project, and the anticipated economic benefits, the outlook for general aviation is positive. We hope you enjoy reading this very interesting and informative Greater Bay Area Report published by Asian Sky Group. Sincerely Gordon Gardiner Partner, HFW ABOUT HFW HFW supports the development of general aviation across Greater China and more widely throughout the Asia Pacific region, and is an active member of the Asian Business Aviation Association. We provide legal advice across the full spectrum of general aviation activities, including finance and leasing, commercial contracts and regulatory issues, through to repossessions and management disputes. For more details please contact our team: GORDON GARDINER JUSTIN SUN NICK HUGHES PATRICK CHEUNG Partner Registered Foreign Lawyer* Registered Foreign Lawyer* Partner Hong Kong Hong Kong Hong Kong Hong Kong T: +852 3983 7710 T: +852 3983 7713 T: +852 3983 7762 T: +852 3983 7778 M: +852 5325 6046 M: +852 6397 7900/ M: +852 9187 5441 M: +852 9037 4389 E: [email protected] +86 138 0139 2958 E: [email protected] E: [email protected] E: [email protected] *Justin and Nick are Partners of Holman Fenwick Willan LLP, and Registered Foreign Lawyers in Hong Kong CHINA GA REPORT - 2019 UPDATE | 3 EXECUTIVE SUMMARY • The Greater Bay Area (GBA) of China comprises nine cities • There are currently 160 helicopters in operation in the Greater and two Special Administrative Regions (SARs): Guangzhou, Bay Area. This number is expected to grow as the Greater Bay Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Project increases connectivity and economic output from the Jiangmen and Zhaoqing, all of which are in the Guangdong region. Airbus and Sikorsky are the leading OEMs in the region Province, along with Hong Kong and Macau. The GBA region is with 49 helicopters (31%) and 38 helicopters (24%), respectively. located on the Southeastern border, surrounding the Pearl River. Medium size helicopters are the most popular size category, comprising 43% of the Greater Bay helicopter fleet. • With a population of approximately 67 million, the GBA region represents only a small portion of the total 1.4 billion population • There are 42 fixed-wing aircraft in the region that are either in Mainland China. Guangzhou has approximately 14.5 million, pistons or turboprops. Cessna dominates the fixed-wing while Shenzhen is home to approximately 12.5 million. By area, turboprop/piston market in the region with 22 aircraft (52%), the GBA makes up 56.5M km2 — 0.5% of China’s total 9.6M km2. followed by Cirrus and Diamond with 8 (19%) and 7 (17%), respectively. Single-engine turboprops make up the most • China is on track to overtake the US, as the world’s largest popular size category with 52%. economy by 2030. The past five years have consistently seen around 7% GDP growth, with the GBA contributing around 12% • There are currently 15 operational airports and 19 helipads in of its overall GDP.
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