ASIA PACIFIC REGION BUSINESS JETS Year End 2015 Beijing Seoul Penglai

Chengdu Shanghai

Shenzhen Hong Kong

Bangkok Manila

ABOUT ASIAN SKY GROUP ASIAN SKY GROUP (ASG), headquartered in Hong Kong with offices throughout Asia, has assembled the most experienced aviation team in the Asia-Pacific region to provide a wide range of independent services for both fixed and rotary-wing aircraft. ASG also provides access to a significant customer base around the world with the help of its exclusive partners.

ASG is backed by SEACOR Holdings Inc., a publically listed US company (NYSE: “CKH”) with over US$1 billion in revenue and US$3 billion in assets, and also by Avion Pacific Limited, a mainland China-based general aviation service provider with over 20 years of experience and 6 offices and bases throughout China.

ASG provides its clients with four main business aviation services: 1. Sales & Acquisitions including Transactional Advisory; 2. Market Research and Consulting including Special Projects; 3. Operation Oversight including Completion Management, Audits, Invoice Review and Aircraft Appraisals, and; 4. Luxury Charter Services.

The acclaimed Asian Sky Fleet Reports are produced by ASG’s Market Research and Consulting group. ASG has a growing portfolio of business aviation reports designed to provide valued information so that the reader can make better informed business decisions. Included in the portfolio are Asian Sky Asia-Pacific Fleet Reports for both Civil Helicopters and Business Jets, the Africa Business Jet Fleet Report and the all new industry leading Asian Sky Quarterly magazine.

CONTRIBUTION Asian Sky Group would like to acknowledge the gracious contributions made by numerous organisations, including aircraft operators, OEMs, aviation authorities and JETNET LLC in providing data for 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 reports and services, please contact us at [email protected] or visit us at www.asianskygroup.com. INTRODUCTION Asian Sky Group (ASG) is pleased to present the 4th edition of its Business Jet Fleet Report. Originally just covering the Greater China region, this edition has been extended to cover an Asia Pacific region which includes the important markets of India, Australia and New Zealand. ASG’s Fleet Reports provide the most comprehensive coverage and breakdown of the business jet fleet in the Asia Pacific region. It has established itself as an indispensable source of valued information for the whole business aviation community.

For copies of ASG’s various industry reports, please visit www.asianskygroup.com.

TABLE OF CONTENTS

EXECUTIVE SUMMARY ………………………...... ……………5

Upcoming Aircraft: Gulfstream G500...... ……………6

2015 OVERVIEW: ADDITIONS AND DEDUCTIONS...... ……...... ……….…...... ……...9

2015 FLEET BREAKDOWN BY COUNTRY & SIZE CATEGORY...... 15

Personality Profile: Kevin Wu, Textron Aviation…...…………...... 24

2015 FLEET BREAKDOWN BY OEM...... 26

Corporate Profile: Taj Air Metrojet Aviation ...... 36

2015 GROWTH BY OEM, SIZE & COUNTRY...... 39

GREATER CHINA OVERVIEW...... 48

2015 Growth & Forecast for 2016...... 57

2015 OPERATOR OVERVIEW...... 67

Corporate Profile: Hawker Pacific Aircraft Management...... 70

Upcoming Aircraft: Gulfstream G600...... 84

2015 OVERVIEW: FLEET AGE AND REGISTRATIONS...... 87

ASIA PACIFIC SUPPORT INFRASTRUCTURE BY OEM...... 98

ASIA PACIFIC FIXED-BASE OPERATORS (FBOs)...... 107

FINANCING & LEGAL FIRMS...... 109

INTERIOR COMPLETION CENTRES ...... 110

Corporate Profile: Flying Colors Corp.…….…………………...... 114

ASIA PACIFIC CHARTER AIRCRAFT...... …………...... ………..……....……....116

AIRCRAFT MODELS POSITIONING...... ……...... 119

PRE-OWNED AIRCRAFT FOR SALE……...... ………………...……...... ….121 ASIA PACIFIC REGION 300 289 (+4%) (+16%) Largest Market 20 20 (+5%) (0%) South Korea

Largest Fleet Additions 44 49 (+7%) (+11%) 132 116 (+14%) China (+17%) Japan 145 139 (+4%) (N/A) 19 22 (+12%) (+16%) 13 12 Taiwan Bangladesh 3 3 (0%) (-8%) Macau Hong Kong 33 33 (+14%) (0%)

India Thailand Myanmar 1 1 1 Vietnam Cambodia 3 3

63 63 (+19%) (0%)

3 3 Brunei

Singapore 45 52 (+13%) (+16%)

Papua New Indonesia Guinea 3 3

184 172 (+7%) (N/A)

Australia

Note (1): Fleet distribution is based on business jets in service at their active base of operation. Note (2): 2014 data for Australia, India, New Zealand and other Oceania Islands has been determined by deducting from 2015 fleet total new and pre-owned deliveries less any aircraft that are known to have left a country but remained in the Asia Pacific region.

2 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

ASIA PACIFIC REGION – BUSINESS JET FLEET

2014 2015 1,068 1,134 +6.2%

44 49 (+11%) (+13%)

Philippines 48 46 (+12%) (-4%)

Malaysia

1 Samoa

1 1 New Caledonia

Highest Growth Rate

8 12 (+50%) (N/A) New Zealand

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 3 4 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 EXECUTIVE SUMMARY

The Asia Pacific business jet fleet stood at 1,134 aircraft by year end 2015, a 6.2% increase over the prior year, and in line with most market forecasts. Overall, the region added 140 aircraft – 66 new and 74 pre-owned – but also saw 74 aircraft leave.

China remains the largest market in the Asia Pacific region with 300 business jets, though its growth rate was just 3.8% in 2015, reflecting a significant deceleration from previous years. A number of factors contributed to this deceleration, which are described in detail throughout this report.

After China, the next two largest markets in the Asia Pacific region are Australia with 184 aircraft (7% growth in 2015) and India with 145 aircraft (4% growth in 2015).

Hong Kong saw the largest number of aircraft added to its fleet in 2015, and increase of 16 business jets, which was partly a reflection of ongoing changes in the China market.

Taken together, the key territories of China, Hong Kong, Australia and India represent over two-thirds of the region’s business jet fleet.

The top three OEMs in the Asia Pacific region by market share are Bombardier, Gulfstream and Cessna, with 27%, 23% and 19% of the fleet, respectively.

Examining only fleet additions in 2015, Bombardier saw the largest increase with 51 additional aircraft (28 new and 23 pre-owned). The most popular added model across the region was the Global 6000, and the fastest growing size category was the ‘long range’ segment.

The top 20 operators in the Asia Pacific region fly 35% of the fleet, with 9 of the top 10 being operators in Greater China. Australia and India have the most operators, but these markets are extremely fragmented where 70% and 67% of the operators have just a single aircraft.

From an age perspective, the Asia Pacific region remains one of the world’s youngest, with 63% of fleet being less than 10 years old (Hong Kong has the youngest and Australia the oldest fleet, on average).

The US aircraft (N) registration is still the most popular in the Asia Pacific region, and is currently being utilized in at least 15 countries.

ASIA PACIFIC REGIONBUSINESS REGION BUSINESS BUSINESS JET FLEET JET JET REPORT FLEETFLEET REPORT–REPORT YEAR END –– YEARYEAR 2015 ENDEND 20152015 5 Introduced in October 2014 amid secrecy, fanfare and a cabin. Pedestal-mounted conference tables provide a surprise powered roll-out, the Gulfstream G500 is a long- stable work space that is height adjustable. A wealth of range jet that offers an optimized package of performance, options means each living area can be tailored to create comfort and technology. Most notable among the aircraft’s the perfect combination. The aircraft features both forward attributes is its speed, the result of a highly swept wing and and aft lavatories and a full-sized galley that can be located powerful, yet efficient, Pratt & Whitney Canada PW814GA in either the forward or aft portion of the aircraft unique engines. Taken together, this combination in the G500 plus to this class of aircraft. Ample storage space is prevalent its advanced airframe design propels eight passengers and throughout, especially in the baggage compartment, which their luggage to an altitude of 51,000 feet, 5,000 nautical offers 175 cubic feet of usable volume. miles (9260 km) at Mach 0.85, the perfect balance between altitude, range and speed allowing passengers The cabin environment is further enhanced by an industry- to maximize every minute of their travel time. What’s leading cabin altitude of 4,850 feet/1,578 m at FL510 and more, the G500 offers segment-leading fuel efficiency that 100 percent fresh air that boosts mental alertness and is 11 percent to 26 percent better than its competitors. productivity while reducing fatigue. With the quietest cabin Short takeoff distances mean the aircraft can also deliver in the industry, the G500 provides an ideal environment for outstanding performance when departing from demanding work-related discussion or social conversation. The G500 airports. also offers the same panoramic oval windows found on the G650 and G650ER, allowing natural light to pour into the All of that performance comes in a wide-body package cabin and further enhance the passenger environment, that maximizes passenger comfort. The finished cabin, making it perfect for getting work done or relaxing. If which measures 91 inches wide (2.41m) and 74 inches tall passengers want to watch a movie, they have their choice (1.93m), provides plenty of flexibility, with the ability to carry of options, with a high-definition entertainment system that up to 19 passengers in three living areas. The aircraft’s can stream to 19 different devices simultaneously. uniquely shaped cross-section allows for generous elbow and shoulder room for seated passengers while also In the G500 detail and personalized styling gets special offering plenty of headroom for those moving about the attention too. Owners can choose from the finest materials,

6 ASIAASIA PACIFIC PACIFIC REGION REGION BUSINESS BUSINESS JET JET FLEET FLEET REPORT REPORT – – YEAR YEAR END END 2015 2015 such as handmade carpets of silk or cashmere, hand- PERFORMANCE stitched leather dyed to the color of one’s choosing, and wood veneers sourced from around the world. Gulfstream Maximum Range: 5,000 nm / 9,260 km design teams will assist throughout the cabin design High-Speed: Mach 0.90 / 516 ktas process, helping create an aircraft tailored to the owner’s Long-Range: Mach 0.85 / 488 ktas needs and tastes, utilizing the most elegant materials available. Maximum Operating Speed: Mach 0.925 Takeoff Distance(SL, ISA, MTOW): 5,200 ft / 1,585 m In the flight deck, cutting-edge technology comes in Landing Distance(SL, ISA, MLW): 3,100 ft / 945 m the form of active control sidesticks and integrated Initial Cruise Altitude: 41,000 ft / 12,497 m touchscreen panels. Maximum Cruise Altitude: 51,000 ft / 15,545 m The industry-first active control sidesticks offer enhanced safety and situational awareness over passive sticks WEIGHTS through tactile feedback. The sidesticks enable direct pilot input to be transmitted to the actuators controlling Maximum Takeoff: 76,850 lb / 34,859 kg flight surfaces. Electronic linking of the sidesticks enable Maximum Landing: 64,350 lb / 29,189 kg the pilot and co-pilot to see and feel each other’s control Maximum Zero Fuel: 52,100 lb / 23,632 kg inputs, which helps improve pilot coordination in the cockpit. Basic Operating (including 3 crew): 46,600 lb / 21,137 kg Maximum Payload: 5,500 lb / 2,495 kg Adding to the pilots’ more intuitive interaction with the Payload with Maximum Fuel: 1,800 lb / 816 kg aircraft are 10 integrated touchscreens, which help reduce Maximum Fuel: 28,850 lb / 13,086 kg the number of cockpit switches by 70 percent. These touchscreens will be used for system controls, flight management, communication, checklists and monitoring EXTERNAL weather and flight information. Length: 91 ft 2 in / 27.78 m The G500 is currently undergoing flight test, with four of Overall Span: 87 ft 1 in / 26.55 m five test articles already in flight. Together, the four aircraft Height: 25 ft 6 in / 7.78 m have flown more than 700 hours, achieving a top speed of Mach 0.995 and a maximum altitude of 53,000 feet. On the ground, four labs are dedicated to ground testing INTERNAL and systems integration, with more than 43,000 hours of Total Interior Length: 47 ft 7 in / 14.50 m testing already complete. The G500 is expected to receive Cabin Length (excluding baggage): 41 ft 6 in / 12.65 m Federal Aviation Administration certification in 2017, with entry into service in 2018. Cabin Height: 6 ft 4 in / 1.93 m Cabin Width: 7 ft 11 in / 2.41 m Cabin Volume: 1,715 cu ft / 48.56 cu m Baggage Compartment (usable volume): 175 cu ft / 4.96 cu m

DESIGN STANDARDS Avionics: Gulfstream Symmetry Flight Deck™ Engines: Two Pratt & Whitney Canada PW815GA Rated Takeoff Thrust (each): 15,144 lb / 67.36 kN Passengers (Typical Outfitting): Up to 19 / 3 Crew

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 7 2015 OVERVIEW: ADDITIONS AND DEDUCTIONS

The Asia Pacific region saw the net addition of 66 business jets in 2015, a growth rate of 6.2%.

Underpinning this increase were 140 business jets entering the Asia Pacific region (split 47% / 53% between new and pre-owned additions), and a reduction of 74 aircraft leaving the region.

The leading OEM by number of deliveries in 2015 was Bombardier with 51 additional new and pre-owned aircraft additions (36% market share). This was followed by Gulfstream with 39 and Cessna with 16, for a 28% and 11% market share, respectively.

Whereas Bombardier, Gulfstream and Embraer each delivered more new aircraft than pre-owned into the Asia Pacific region in 2015, Cessna and the rest of the OEMs all saw more pre-owned aircraft added into the region than new.

Similar to the profile of added aircraft, of those that left the region, 25 aircraft were Gulfstream, 18 were Bombardier and 8 were Cessna, due in part to trade-in factors or owners deciding to upgrade but remain with the same OEM.

The most commonly added business jet model to the Asia Pacific fleet in 2015 (for both new and pre-owned deliveries) was the Global 6000, with a total of 15 additional aircraft, followed by the G450 with 12, the G550 with 9, the Global 5000 with 8 and the G650 with 7; further establishing that the Asia Pacific region is a ‘large cabin size and up’ business jet market.

This was further illustrated by combined deliveries of the ‘Global family’ from Bombardier and the ‘G450/550’ family from Gulfstream: 23 Globals and 21 G450s/550s. A key difference however is that 17 of the Global aircraft were new versus only 9 of the G450s/550s. The Global family also saw only 6 deductions whereas the G450/550 family saw 11, though some of these G450/G550 reductions reflected new G650 deliveries and orders.

The territories in the Asia Pacific region with the most activity in 2015 were Hong Kong and China, including for both deliveries and reductions.

Another active pre-owned market was Australia with 18% of all added aircraft, and Singapore, which accounted for 16% of all deductions. As Australia is a very mature business jet market, it is not surprising to see a well-established and thriving pre-owned market.

8 ASIAASIA PACIFIC PACIFIC REIGION REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Fleet Additions – Asia Pacific Region Net Additions - 2015 New Deliveries

Airbus 2 (3%) Dassault 2 (3%)

Boeing 3 (5%) Bombardier 28 (42%) Cessna 5 (8%)

Embraer 6 (9%) +66

Gulfstream 20 (30%) 42+30+9+8+5+3+3+G Pre-owned Additions

Boeing 2 (3%) Hawker 1 (1%) Embraer 2 (3%) Others 1 (1%) Airbus 7 (9%)

Dassault 8 (11%)

+74 Bombardier 23 (31%)

Cessna 11 (15%) Gulfstream 19 (26%)

Deductions 30+26+15+111031+G

Boeing 4 (5%)

Embraer 5 (7%) Airbus 3 (4%)

Dassault 5 (7%) Gulfstream 25 (34%)

Hawker 6 (8%) -74

Cessna 8 (11%) 34+2511754+G Bombardier 18 (24%) ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 9 ASIA PACIFIC REGION Net Additions Per Model – New vs Pre-owned 66 in total The most popular business jet models to be added to the Asia Pacific region fleet in 2015 were the Bombardier Global 6000, Gulfstream G450 and G550.

ACJ319 -1 1 4 Deductions (-74) +6 ACJ318 1

Airbus ACJ320 -1 2 New Deliveries (66) ACJ330 -1 1 Pre-owned (74)

BBJ -3 3 2 +1 737-200 ADVANCED -1 Boeing

Global 6000 -2 12 3 Challenger 605 -1 5 1 Challenger 604 4 Global 5000 -4 5 3 Challenger 800/850 -1 1 2 Learjet 31/A 2 Challenger 300/350 -2 3 +33 Challenger 870 1 Global Express XRS -4 5 Bombardier Learjet 75 1 Learjet 45/XR -1 1 Learjet 35/A/36/A -1 1 Learjet 60/XR -1 1 Global Express -1

Citation CJ4 -1 3 1 Citation S/II/Bravo/II/SP 3 Citation 500/I/SP 2 +8 Citation Excel/XLS/+ -1 2 1 Cessna Citation Mustang -3 4 Citation CJ2/+ -1 Citation Sovereign/+ -2

Falcon 2000/DX/EX EASy 2 Falcon 2000LX/LXS 1 +5 Falcon 2000S 1 Falcon 900EX/EASy 1 Dassault Falcon 7X -4 1 3 Falcon 900LX -1 1

Phenom 100 2 +3 Legacy 500 1 Legacy 650 -2 3 Embraer Legacy 600 -2 2 Lineage 1000 -1 G450 -6 2 10 G650 -1 6 1 G550 -5 7 2 G280 3 G650ER -1 2 1 G300/G350 1 +14 G500 -1 1

Gulfstream G200 -3 2 G-II -1 G-III -1 G-V -3 1 G-IV/IV-SP -3

Hawker 1000A/B -1 -5 Hawker 800A/B/850XP/XPI/125-A -3 1

Hawker Hawker 900XP -2

Nextant 400XT/XTi 1 +1 Nextant

10 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

2015 New Deliveries by Country and Aircraft Model 66 in Total Philippines Australia Japan Singapore India Indonesia Hong Kong China Taiwan Malaysia Samoa Total % of Total

Airbus ACJ318 1 1 2% ACJ319 1 1 2% Boeing BBJ 3 3 5% Bombardier Challenger 300/350 1 1 1 3 5% Challenger 605 2 2 1 5 8% Challenger 800/850 1 1 2% Challenger 870 1 1 2% Global 5000 2 1 1 1 5 8% Global 6000 5 1 2 2 1 1 12 18% Learjet 75 1 1 2% Cessna Citation CJ4 3 3 5% Citation Excel/XLS/+ 1 1 2 3% Dassault Falcon 2000LX/LXS 1 1 2% Falcon 7X 1 1 2% Embraer Legacy 500 1 1 2% Legacy 650 2 1 3 5% Phenom 100 1 1 2 3% Gulfstream G280 1 2 3 5% G450 2 2 3% G550 2 2 1 1 1 7 11% G650 5 1 6 9% G650ER 1 1 2 3% Total 18 17 6 6 4 4 4 3 2 1 1 66 % of Total 27% 26% 9% 9% 6% 6% 6% 5% 3% 2% 2%

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 11 ASIA PACIFIC REGION 2015 Pre-Owned Additions by Country and Aircraft Model 74 in Total Hong Kong Australia China Indonesia Philippines Singapore India Zealand New Malaysia South Korea Taiwan Thailand Total % of Total

Airbus ACJ319 3 1 4 5% ACJ320 1 1 2 3% ACJ330 1 1 1% Boeing BBJ 2 2 3% Bombardier Challenger 604 4 4 5% Challenger 605 1 1 1% Challenger 800/850 2 2 3% Global 5000 2 1 3 4% Global 6000 1 1 1 3 4% Global Express XRS 1 1 1 1 1 5 7% Learjet 31/A 1 1 2 3% Learjet 35/A/36/A 1 1 1% Learjet 45/XR 1 1 1% Learjet 60/XR 1 1 1% Cessna Citation 500/I/SP 1 1 2 3% Citation CJ4 1 1 1% Citation Excel/XLS/+ 1 1 1% Citation Mustang 1 3 4 5% Citation S/II/Bravo/II/SP 2 1 3 4% Dassault Falcon 2000/DX/EX EASy 1 1 2 3% Falcon 2000S 1 1 1% Falcon 7X 1 1 1 3 4% Falcon 900EX/EASy 1 1 1% Falcon 900LX 1 1 1% Embraer Legacy 600 2 2 3% Gulfstream G200 1 1 2 3% G300/350 1 1 1% G450 3 3 1 1 2 10 14% G500 1 1 1% G550 1 1 2 3% G650 1 1 1% G65OER 1 1 1% G-V 1 1 1% Hawker Hawker 800A/B/850XP/XPI 1 1 1% Nextant Nextant 400XT/XTi 1 1 1% Total 14 13 13 7 6 6 6 4 2 1 1 1 74 % of Total 19% 18% 18% 9% 8% 8% 8% 5% 3% 1% 1% 1%

12 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION 2015 Deductions by Country and Aircraft Model 74 in Total China Hong Kong Singapore Malaysia Australia India Philippines Taiwan Indonesia Thailand Japan Vietnam South Korea Macau Total % of Total

Airbus ACJ319 1 1 1% ACJ320 1 1 1% ACJ330 1 1 1% Boeing BBJ 1 1 1 3 4% 737-200 ADVANCED 1 1 1% Bombardier Challenger 300/350 2 2 3% Challenger 605 1 1 1% Challenger 800/850 1 1 1% Global 5000 2 1 1 4 5% Global 6000 1 1 2 3% Global Express 1 1 1% Global Express XRS 3 1 4 5% Learjet 35/A/36/A 1 1 1% Learjet 45/XR 1 1 1% Learjet 60/XR 1 1 1% Cessna Citation CJ2/+ 1 1 1% Citation CJ4 1 1 1% Citation Excel/XLS/+ 1 1 1% Citation Mustang 3 3 4% Citation Sovereign/+ 1 1 2 3% Dassault Falcon 7X 2 1 1 4 5% Falcon 900LX 1 1 1% Embraer Legacy 600 1 1 2 3% Legacy 650 1 1 2 3% Lineage 1000 1 1 1% Gulfstream G200 1 1 1 3 4% G450 1 1 2 1 1 6 8% G500 1 1 1% G550 1 4 5 7% G650 1 1 1% G650ER 1 1 1% G-II 1 1 1% G-III 1 1 1% G-IV/IV-SP 2 1 3 4% G-V 2 1 3 4% Hawker Hawker 800/850 Family 1 1 1 3 4% Hawker 900XP 1 1 2 3% Hawker 1000A/B 1 1 1% Total 19 16 12 7 5 4 3 2 1 1 1 1 1 1 74 % of Total 26% 22% 16% 9% 7% 5% 4% 3% 1% 1% 1% 1% 1% 1% 1%

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 13 14 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 2015 FLEET BREAKDOWN BY COUNTRY & SIZE CATEGORY

With 66 net aircraft added to the Asia Pacific business jet fleet in 2015, the total fleet has now grown to 1,134 aircraft.

The largest market is China, representing 26% of the total fleet (300 aircraft), followed by Australia with 16% (184 aircraft), India with 13% (145 aircraft) and Hong Kong with 12% (132 aircraft). Combined, the top 4 territories represent 67% of the total fleet.

The top 3 OEMs in terms of market share are Bombardier with 27%, Gulfstream with 23% and Cessna with 19%, together representing nearly 70% of the total Asia Pacific business jet fleet. This 1-2-3 ranking mirrors the net additions for each of the OEMs in 2015: Bombardier +33 aircraft, Gulfstream +14 aircraft and Cessna +8 aircraft.

Examining the top 4 markets individually and the top 3 largest OEM’s in each by market share: • China Gulfstream 32%, Bombardier 25% and Cessna 13% - total 70% • Australia Cessna 40%, Bombardier 35% and Hawker 7% - total 82% • Hong Kong Gulfstream 47%, Bombardier 36% and Dassault 5% - total 88% • India Cessna 22%, Bombardier 22% and Hawker 21% - total 65%

The three largest OEMs by market share represent 65% or more of the fleet in each of the top 4 Asia Pacific markets.

Bolstered by its diverse product range, Bombardier is the only OEM with a top 3 market share position in all 4 top markets, and leading to its overall market share ranking for the Asia Pacific region.

Gulfstream’s long range aircraft and dedicated branding efforts have positioned it with the leading market share in the Greater China region, which includes 171 of its aircraft and represents 65% of its total Asia Pacific fleet.

A similar mission profile and dedicated customer base to that of the United States has factored into Cessna’s leading market share in Australia.

The Indian market is relatively fragmented compared to the other top markets, and as a result all three of the OEMs referenced above have significant but effectively identical market share.

Given the significance of the China market and that 27% of its total fleet is made up of long-range category aircraft, it is not too surprising that for the total Asia Pacific region ‘long-range’ aircraft constitute the largest market share overall (with 24% of the total fleet). This is followed by the ‘large’ aircraft category with 22% (26% of the China fleet) and the ‘light’ aircraft category with 19% of the total fleet (41% of the Australian fleet).

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 15 ASIA PACIFIC REGION Fleet by OEM & Country – Asia Pacific Region

300

184

145 132

63 52 49 49 46 33 India China Japan Thailand Australia Malaysia Indonesia Singapore Hong Kong Philippines

Airbus 14 1 2 4 1 1 1 2 2 3 1 1 1 34 3% +21% Boeing 8 1 1 6 2 2 1 2 2 1 5 2 33 3% +6% Bombardier 75 64 31 48 29 13 10 5 15 1 6 3 4 1 1 306 27% +12% Cessna 39 73 32 1 4 11 26 9 8 8 6 2 1 220 19% +4% Dassault 34 8 19 7 2 4 2 7 3 1 1 2 1 91 8% +6% Embraer 20 5 17 3 7 13 1 1 2 69 6% +5% Gulfstream 98 9 12 62 18 7 10 11 8 10 8 2 3 2 3 1 264 23% +6% Hawker 12 14 31 2 3 10 9 3 1 7 3 1 1 1 98 9% -5% Others 9 2 1 4 1 2 19 2% +6% Total 300 184 145 132 63 52 49 49 46 33 22 20 12 12 3 3 3 3 1 1 1 1,134 % of Total 26% 16% 13% 12% 6% 5% 4% 4% 4% 3% 2% 2% 1% 1% % Change from 2014 +3% +7% +4% +14% +16% +11% +11% -4% +16% -8% +50%

16 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Boeing 33 (3%) Others 19 (2%)

Airbus 34 (3%) Bombardier 306 (27%)

Embraer 69 (6%)

Dassault 91 (8%)

Hawker 1,134 98 (9%)

Cessna 22027+ (19%) Gulfstream 264 (23%)23+19+9+8+6+3+2+G

22 20 12 12 3 3 3 3 1 1 1 Brunei Macau Taiwan Samoa Guinea Myanmar Cambodia Papua New New Papua Bangladesh South Korea New Zealand New New Caledonia New

% of % Change Total Total From 2014

Airbus 14 1 2 4 1 1 1 2 2 3 1 1 1 34 3% +21% Boeing 8 1 1 6 2 2 1 2 2 1 5 2 33 3% +6% Bombardier 75 64 31 48 29 13 10 5 15 1 6 3 4 1 1 306 27% +12% Cessna 39 73 32 1 4 11 26 9 8 8 6 2 1 220 19% +4% Dassault 34 8 19 7 2 4 2 7 3 1 1 2 1 91 8% +6% Embraer 20 5 17 3 7 13 1 1 2 69 6% +5% Gulfstream 98 9 12 62 18 7 10 11 8 10 8 2 3 2 3 1 264 23% +6% Hawker 12 14 31 2 3 10 9 3 1 7 3 1 1 1 98 9% -5% Others 9 2 1 4 1 2 19 2% +6% Total 300 184 145 132 63 52 49 49 46 33 22 20 12 12 3 3 3 3 1 1 1 1,134 % of Total 26% 16% 13% 12% 6% 5% 4% 4% 4% 3% 2% 2% 1% 1% % Change from 2014 +3% +7% +4% +14% +16% +11% +11% -4% +16% -8% +50%

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 17 ASIA PACIFIC REGION Fleet by OEM & Countries – Top Markets

China Hong Kong

Hawker 12 (4%) Boeing 8 (3%) Boeing 6 (5%) Airbus 4 (3%) Airbus 14 (5%) Gulfstream 98 (32%) Embraer 3 (2%) Hawker 2 (2%)

Embraer 20 (7%) Dassault 7 (5%)

Dassault 34 (11%) 300 132

Cessna 39 (13%)

Bombardier Bombardier33+ 75 (25%) 25+13+11+7+5+4+2+G 48 (36%)47+Gulfstream36+5+3+2+2+G 62 (47%)

Macau Taiwan

Dassault 1 (8%) Bombardier 4 (34%) Boeing 1 (4%) Embraer 1 (5%)

Airbus 3 (14%) Gulfstream 8 (36%)

Airbus 1 (8%)

Hawker 1 (8%) 12 36+22 27+14+4+5+G Embraer 2 (17%)

Hawker 3 (14%) Bombardier 6 (27%) Gulfstream34+ 3 (25%) 25+17+8+8+G

18 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Japan South Korea

Dassault 2 (4%) Boeing 1 (2%) Hawker 1 (5%) Airbus 1 (5%) Hawker 3 (6%) Airbus 1 (2%) Gulfstream 2 (10%)

Bombardier Bombardier 5 (10%) 3 (15%) Cessna 8 (40%) 49 20

Gulfstream 11 (23%)

Cessna 2653+ (53%) 23+10+6+4+2+2+G Boeing38+ 5 (25%) 29+14+9+5+5+G

India Thailand

Gulfstream 12 (8%) Airbus 2 (1%) Boeing 2 (6%) Bombardier 1 (3%) Embraer 17 (12%) Boeing 1 (1%) Airbus 2 (6%) Gulfstream 10 (31%)

Cessna 32 (22%) Dassault 3 (9%)

Dassault 19 (13%) 145 33

Hawker 3124+ (21%) Bombardier 3121+13+11+8+1+1+G (22%) Hawker31+ 7 (21%) Cessna24+21+9+6+3+G 8 (24%)

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 19 ASIA PACIFIC REGION

Philippines Malaysia

Westwind 3 (6%) Airbus 1 (2%) Hawker 1 (2%) Eclipse 1 (2%) Dassault 4 (8%) Dornier 1 (2%) Airbus 2 (4%) Embraer 1 (2%) Cessna Boeing 2 (4%) Bombardier 11 (23%) 15 (33%)

Hawker Dassault 9 (18%) 7 (15%)

49 46

Bombardier Gulfstream22+ 10 (20%) 1022+20+18+8+6+2+2+G (20%) Gulfstream33+ 8 (18%) Cessna20+18+15+4+2+2+G 9 (20%)

Singapore Indonesia

Nextant 1 (2%) Cessna 1 (2%) Dassault 2 (4%) BAE 1 (2%)

Sabreliner 1 (1%) Airbus 1 (2%) Boeing 2 (4%)

Boeing 2 (3%) Bombardier 29 (46%)

Cessna 4 (8%) Bombardier 13 (25%) Hawker 3 (5%) Gulfstream 7 (13%) Embraer 7 (11%) 63 52

Gulfstream 44+18 (28%) 29+11+5+3+2+2+G Hawker25+ 10 (19%) Embraer25+19+13+8+4+2+G 13 (25%)

20 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Australia New Zealand

Dassault 8 (4%) Embraer 5 (3%) Bombardier 1 (8%) Dassault 1 (8%)

Westwind 8 (4%) Others 3 (2%) Westwind 1 (8%)

Gulfstream 9 (5%) Cessna 73 (40%) Cessna 6 (50%)

Hawker 14 (7%) 184 12

Nextant Bombardier40+ 64 (35%) 34+8+5+4+3+2+G 1 (9%)50+Gulfstream17+9+8+8+G 2 (17%)

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 21 ASIA PACIFIC REGION Fleet by Size Category – Asia Pacific Region

Very Light 86 (8%) Corp. Airliner 123 (11%)

Medium 175 (15%)

Long Range 277 (24%)

1,134

Light 220 (20%) Large 253 (22%) 300 11+242220158+G

184

145 132

63 52 49 49 46 33 22 20 12 12 3 3 3 3 1 1 1 India China Japan Brunei Macau Taiwan Samoa Guinea Thailand Australia Malaysia Myanmar Indonesia Singapore Cambodia Philippines Hong Kong Hong Papua New Papua Bangladesh South Korea South

New Zealand New % Change Total New Caledonia New From 2014

Corp. Airliner 60 2 8 15 3 4 2 3 4 4 5 6 3 3 1 123 +8%

Long Range 81 31 18 71 17 9 12 2 9 7 7 4 3 3 1 1 1 277 +11%

Large 79 26 33 34 22 18 5 10 11 3 2 1 5 1 1 1 1 253 +7%

Medium 38 21 36 12 11 7 4 14 13 10 5 1 1 1 1 175 -2%

Light 24 78 35 7 12 20 16 7 6 3 5 4 2 1 220 +6%

Very Light 18 26 15 3 2 6 4 2 3 3 4 86 +4%

Total 300 184 145 132 63 52 49 49 46 33 22 20 12 12 3 3 3 3 1 1 1 1,134

% Change +4% +7% +4% +14% +16% +11% +11% -4% +16% -8% +50% from 2014

22 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Size Category Description

Corporate Airliner Long Range Large

Dornier 328JET Falcon 7X Challenger 600/601 Boeing 727-100 Gulfstream G500* Challenger 604 Boeing 737-400 Gulfstream G550 Challenger 605 Boeing 747-400 Gulfstream G650 Falcon 2000/DX/EX EASy Boeing 757-200 Gulfstream G650ER Falcon 2000LX/LXS Boeing 767-200ER Global 5000 Falcon 2000S Boeing 787-8 Global 6000 Falcon 900/C/DX Airbus A319ER Global Express Falcon 900EX/EASy Airbus 340-200 Global Express XRS Falcon 900LX ACJ318 Gulfstream V Gulfstream G300/G350 ACJ319 Gulfstream G450 ACJ320 Gulfstream II ACJ330 Gulfstream III BBJ Gulfstream IV/IV-SP BBJ2 Legacy 600 Challenger 800/850 Legacy 650 Challenger 870 CRJ100/200/VIP ERJ135ER/LR Lineage 1000 BAE 146

Medium Light Very Light

Challenger 300/350 Citation 500/I/SP Citation 525/CJ1/+/M2 Citation Sovereign/+ Citation CJ2/+ Citation Mustang Citation X/+ Citation CJ3 Eclipse 500 Falcon 20D/F-5 Citation CJ4 Learjet 24/B/D/E/25B Falcon 50 Citation Encore/+ Phenom 100 Gulfstream G100/G150 Citation Excel/XLS/+ Premier I/IA Gulfstream G200 Citation III/VI/VII Gulfstream G280 Citation S/II/Bravo/II/SP Hawker 1000A/B Citation Ultra/V Hawker 4000 Falcon 10 Hawker 700A/B/750 Hawker 400/A/B/Diamond I Corp. Airliner 60 2 8 15 3 4 2 3 4 4 5 6 3 3 1 123 +8% Hawker 800A/B/850XP/XPI/125-1A Hawker 400XP Long Range 81 31 18 71 17 9 12 2 9 7 7 4 3 3 1 1 1 277 +11% Hawker 900XP Learjet 31/A Large 79 26 33 34 22 18 5 10 11 3 2 1 5 1 1 1 1 253 +7% Learjet 60/XR Learjet 35/A/36/A Medium 38 21 36 12 11 7 4 14 13 10 5 1 1 1 1 175 -2% Legacy 500 Learjet 40 Light 24 78 35 7 12 20 16 7 6 3 5 4 2 1 220 +6% Learjet 45/XR Very Light 18 26 15 3 2 6 4 2 3 3 4 86 +4% Learjet 75 Total 300 184 145 132 63 52 49 49 46 33 22 20 12 12 3 3 3 3 1 1 1 1,134 Nextant 400XT/XTi % Change +4% +7% +4% 14% 16% 11% 11% -4% 16% -8% 50% Phenom 300 from 2014 Sabreliner 65 * Gulfstream G500 is a former variant of the G550, introduced into service in 2004. Westwind 1/2

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 23

Kevin Wu, Vice President International Sales Greater China and Mongolia

24 ASIA PACIFICASIA REGION PACIFIC BUSINESS BUSINESS JET JET FLEET FLEET REPORT REPORT – – YEAR YEAR END END 2015 2015

Kevin Wu is the International Vice President, Greater China Western, corporate environment of Lockheed Martin, but & Mongolia Sales for Textron Aviation. He also services I enjoyed it,” says Wu. When asked about the challenges as Chairman of the Asian Business Aviation Association and obstacles that he had to overcome during this (AsBAA) and Co-Chairman of the Aerospace Forum under transition, Wu says that there were “language and cultural the American Chamber of Commerce (AmCham) in China. challenges, and the adjustment of understanding why people from different cultures think so differently. But Wu’s 30-year aviation career had its seeds planted as early that was the value I brought to the table too - my technical as his high school days when during the high education background combined with an understanding of both the examination periods in China, he had to pick a field as East and the West, including from my experience abroad in his career. “Aviation at the time was a dream that was Sweden.” far out of reach of most ordinary people’s lives,” he said. Naturally drawn to breaking new ground and overcoming After half a decade with Lockheed Martin, Kevin left obstacles, Kevin saw opportunities where others saw as Business Development Director, Greater China hurdles. “I decided that it was worth taking the chance to Region to join Textron Inc., the global leader in general apply into the aviation sector. If I applied, at least I would aviation, as VP for Strategy, Business Development and have a fighting chance,” recalled Wu. Government Affairs, and later transferred to the Cessna Aircraft Company to oversee North Asia for Sales & With a degree in Air Traffic Management from the Market Development. Following Cessna and Beechcraft’s prestigious Civil Aviation University of China (CAUC) in consolidation into Textron Aviation Inc in 2014, Wu Tianjin, for the next six years following his graduation Wu currently leads and coordinates the sales, marketing, honed his skills as an air traffic controller in the Xi’an and and customer service efforts in North Asia. “I see great Guilin international airports. “It was during this time that prospects ahead for Textron Aviation. We are not just here I developed so many skills that are still serving me to this to receive, but here to give and share. We have a strong day, including clear, concise, and precise communications, team with localized insights that meet real demands,” says self discipline, multitasking, having sound understanding Wu. of what’s happening around you, understanding other people, and able to quickly find a solution.” Wu also In Wu’s spare time, he continues to inspire and shape spent a considerable amount of time doing ATC on-the-job the next generation’s minds at the request of various training at the Malmo and Arlanda International Airport in universities, providing first class instruction and training. Sweden, as well as the Copenhagen International Airport Wu also spends time inspiring the youth through AsBAA in Denmark. All of these opportunities had offered him initiatives, most recently with visiting selected schools in first hand exposure to the Western culture, broadening his Beijing, Tianjin, Chengdu, Nanjing, and Shanghai to provide scope in the industry that eventually became critical for his seminars. In asking what advice he could give to the next later endeavors. generation, Wu says, “at first, try everything - learn as much as you can beyond your own designated major or subjects With China’s goal of establishing world class aviation so that you become well-rounded. Then in the next few standards in the 1990’s, Wu’s skills and broad years, identify your real passions and gradually focus on international experience saw him become Senior Lecturer one or two of them so that you become a specialist. Then at the same university he had just graduated from six when you have the opportunity, become a generalist so years prior. For the next five years, Wu trained some of the that you move into management with the solid foundation brightest and most ambitious minds that went on to serve and insight of a specialist.” Wu reminds the youth that “In China’s aviation industry, including air force ATC officers, the end, all fields have their commonality in where they as well as international ATC officials from Southeast Asia began. That is why you must take your time to find yours and Africa. At the same time, Wu became Deputy to ICAO and nurture it.” Project Director, establishing training curriculums and courses that are still in place and taught to this day.

By the time that Wu had 15 years of lecturing under his belt, he was Executive Director of the International Department at the Civil Aviation University of China, with extensive experience in U.S.-China programs and negotiations in both the government and private sectors. It was at this time that Wu found his next calling with the American global aerospace and defense company Lockheed Martin, where he served in sales and business development capacities. “It was perhaps the biggest change for me psychologically, making the switch from providing training programs at the CAUC to working in the

ASIA PACIFIC REGIONBUSINESS BUSINESS JET FLEET JET REPORT FLEET REPORT– YEAR END – YEAR 2015 END 2015 25 ASIA PACIFIC REGION 2015 FLEET BREAKDOWN BY OEM

The top three ranked OEMs in the Asia Pacific region, by market share, are Bombardier, Gulfstream and Cessna.

• Bombardier’s share of the Asia Pacific market at the end of 2015 was 27% (306 aircraft) – with its top 3 markets being China (75 aircraft), Australia (64 aircraft) and Hong Kong (48 aircraft). Its most popular models in the Asia Pacific region are the Challenger 605 (39 aircraft), Global 6000 (35 aircraft) and the Global 5000 (33 aircraft).

• Gulfstream’s share of the Asia Pacific market was 23% (264 aircraft) – with itstop 2 markets being China (98 aircraft) and Hong Kong (62 aircraft). Its most popular models in the Asia Pacific region are the G550 (94 aircraft) and the G450 (72 aircraft).

• Cessna’s share of the Asia Pacific market was 19% (220 aircraft) – with its top market being Australia (73 aircraft) and its most popular models being the Citation II / Bravo family (38 aircraft).

• Hawker’s share of the Asia Pacific market was 9% (98 aircraft) – with its best market being India (31 aircraft) and its most popular models being the Hawker 800/850 family (38 aircraft). *

• Dassault’s share of the Asia Pacific market was 8% (91 aircraft) – with its best market being China (34 aircraft) and its most popular model being the Falcon 7X (36 aircraft).

• Embraer’s share of the Asia Pacific market was 6% (69 aircraft) – with its largest markets being China (20 aircraft), India (17 aircraft) and Indonesia (13 aircraft). Its most popular models are the Legacy 600/650 family (41 aircraft).

• Airbus’s share of the Asia Pacific market was 3% (34 aircraft) with its best market being China (14 aircraft) and its most popular model being the ACJ319 (18 aircraft).

• Boeing’s share of the Asia Pacific market was 3% (33 aircraft), with its best markets being China (8 aircraft), Hong Kong (6 aircraft) and Korea (5 aircraft). Its most popular model in the Asia Pacific region is the BBJ1 (22 aircraft).

*Note: Hawker was acquired by Cessna’s parent company, Textron, 2014; and the Hawker business jet line has since been discontinued.

26 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Fleet by Major OEM – Asia Pacific Region

Airbus

Macau 1 (3%) Philippines 1 (3%) Japan 1 (3%) Singapore 1 (3%) Brunei 1 (3%) South Korea 1 (3%)

Australia 1 (3%)

Thailand 2 (6%)

Malaysia 2 (6%) 34 China 14 (41%) India 2 (6%)

Taiwan 3 (9%)

41+11+9+6+3+3+G Hong Kong 4 (11%)

14

4 3 2 2 2 1 1 1 1 1 1 1 India China Japan Brunei Macau Taiwan Thailand Australia Malaysia Singapore Hong Kong Philippines

South Korea Change Total from 2014

A319ER 3 3 A340-200 1 1 ACJ318 3 2 2 1 8 +1 ACJ319 7 2 1 2 1 1 1 1 1 1 18 +4 ACJ320 1 1 1 3 +1 ACJ330 1 1 Total 14 4 3 2 2 2 1 1 1 1 1 1 1 34

Change from 2014 +4 -2 +1 +1 +1 +1 +6

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 27 ASIA PACIFIC REGION

Boeing

Australia 1 (3%) India 1 (3%) Thailand 2 (6%) Japan 1 (3%) Taiwan 1 (3%)

Singapore 2 (6%) China 8 (23%)

Malaysia 2 (6%) 33 Indonesia 2 (6%) 23+17+18+6+3+3+G Hong Kong 6 (18%) Brunei 2 (6%) South Korea 5 (15%)

8 6 5 2 2 2 2 2 1 1 1 1 India China Japan Brunei Taiwan Thailand Australia Malaysia Indonesia Singapore Hong Kong

South Korea Change Total from 2014

B727-100 1 1 2 B737-400 1 1 B747-400 1 1 B757-200 1 1 B767-200ER 1 1 BBJ 7 5 5 1 1 1 1 1 22 +2 BBJ2 1 1 1 1 1 5 Total 8 6 5 2 2 2 2 2 1 1 1 1 33

Change from 2014 +3 +1 -1 -1 -1 +1*

* includes one B737-200 ADVANCED which left Malaysia

28 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Bombardier

Japan 5 (2%) Macau 4 (1%) Taiwan 6 (2%) South Korea 3 (1%) Philippines 10 (3%) Others 3 (1%) Indonesia 13 (4%) Malaysia 15 (5%)

Singapore 29 (9%) China 75 (24%) 306

India 31 (10%) Australia 64 (21%)

75 64 24+20+16+12+9+4+2+1+1+G (16%) Hong Kong 48 48 31 29 15 13 10 6 5 4 3 1 1 1 India China Japan Macau Taiwan Thailand Australia Malaysia

Myanmar Change Indonesia Singapore Hong Kong Philippines from South Korea Total New Zealand New 2014

Challenger 300/350 5 2 6 3 1 1 18 +1 Challenger 600/601 4 1 1 1 7 Challenger 604 2 13 3 4 2 24 +4 Challenger 605 13 9 3 7 2 1 1 1 2 39 +5 Challenger 800/850 15 4 1 1 1 22 +2 Challenger 870 12 12 +1 CRJ100/200/VIP 7 1 1 1 10 Global 5000 3 12 5 6 3 3 1 33 +4 Global 6000 7 4 11 3 5 1 1 1 2 35 +13 Global Express 2 8 3 1 1 2 1 18 -1 Global Express XRS 1 13 3 2 2 2 1 2 2 1 1 30 +1 Learjet 40 1 1 Learjet 75 1 1 +1 Learjet 24/B/D/E/25B 1 2 1 4 Learjet 31/A 1 3 2 1 7 +2 Learjet 35/A/36/A 5 15 2 2 1 25 Learjet 45/XR 4 2 1 7 Learjet 60/XR 3 1 1 3 3 2 13 Total 75 64 48 31 29 15 13 10 6 5 4 3 1 1 1 306

Change from 2014 -1 +10 +10 +4 +5 +4 -1 +2 +1 -1 +33

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 29 ASIA PACIFIC REGION

Cessna

Indonesia 4 (2%) Others 4 (2%) New Zealand 6 (3%) Thailand 8 (3%)

South Korea 8 (4%)

Malaysia 9 (4%)

Philippines 11 (5%) Australia 73 (33%) 220 Japan 26 (12%)

India 32 (14%) China 39 (18%)

73 33+17+14+12+5+4+3+2+2+G

39 32 26

11 9 8 8 6 4 2 1 1 India China Japan Guinea Thailand Australia Malaysia Indonesia Singapore

Philippines Change Papua New Papua South Korea New Zealand New Total from New Caledonia New 2014

Citation CJ3 3 1 1 5 Citation CJ4 3 1 1 1 1 7 +3 Citation Mustang 9 4 1 3 1 2 4 24 +1 Citation Encore/+ 2 2 4 Citation Sovereign/+ 5 4 3 2 4 18 -2 Citation X/+ 2 1 2 1 6 Citation 500/I/SP 9 1 1 1 12 +2 Citation S/II/Bravo/II/SP 20 4 7 1 3 2 1 38 +3 Citation CJ2/+ 3 11 7 21 -1 Citation Excel/XLS/+ 1 12 9 4 3 29 +2 Citation III/VI/VII 5 1 1 1 1 1 10 Citation Ultra/V 4 1 4 1 4 14 Citation 525/CJ1/+/M2 10 13 2 3 1 3 32 Total 73 39 32 26 11 9 8 8 6 4 2 1 1 220 Change from 2014 +2 +3 +1 +1 +1 +3 -2 +8*

* includes one aircraft which left Hong Kong

30 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Dassault

Indonesia 2 (2%) New Zealand 1 (1%) Bangladesh 2 (2%) Macau 1 (1%) Japan 2 (2%) Papua New Guinea 1 (1%) Thailand 3 (3%) China 34 (37%)

Philippines 4 (5%)

Malaysia 7 (8%)

Hong Kong 7 (8%) 91

Australia 8 (9%) 37+21+9+8+5+3+2+1+1+G India 19 (21%) 34

19 8 7 7 4 3 2 2 2 1 1 1 India China Japan Macau Guinea Thailand Australia Malaysia Indonesia Hong Kong Philippines Papua New Papua Bangladesh New Zealand New

Change Total from 2014

Falcon 10 1 1 Falcon 2000S 1 1 2 +1 Falcon 50 1 1 2 Falcon 7X 26 2 2 4 1 1 36 Falcon 900LX 4 2 1 7 Falcon 2000/DX/EX EASy 11 1 1 13 +2 Falcon 2000LX/LXS 2 3 1 2 1 2 1 1 13 +1 Falcon 20D/F-5 2 2 4 Falcon 900/C/DX 1 1 1 1 2 6 Falcon 900EX/EASy 3 1 1 1 1 7 +1 Total 34 19 8 7 7 4 3 2 2 2 1 1 1 91 Change from 2014 +2 +2 +1 -1 +1 +1 +5*

* includes one aircraft which left Singapore

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 31 ASIA PACIFIC REGION

Embraer

Macau 2 (3%) Malaysia 1 (2%) Hong Kong 3 (4%) Taiwan 1 (1%) Australia 5 (7%) China 20 (29%)

Singapore 7 (10%)

69 Indonesia 13 (19%) 29+25+19+10+7+4+3+2+1+G India 17 (25%)

20 17 13 7 5 3 2 1 1 India China Macau Taiwan Australia Malaysia Indonesia Singapore Hong Kong

Change Total from 2014 Legacy 500 1 1 +1 Legacy 600 2 7 6 1 1 1 1 19 Legacy 650 14 5 2 1 22 +1 Lineage 1000 4 1 1 1 1 8 -1 Phenom 100 1 6 1 3 1 12 +2 Phenom 300 1 1 3 5 ERJ135ER/LR 2 2 Total 20 17 13 7 5 3 2 1 1 69 Change from 2014 +2 +1 +1 +1 -1 +3*

* includes one aircraft which left Vietnam

32 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Gulfstream

Indonesia 7 (3%) Cambodia 3 (1%) Macau 3 (1%) Taiwan 8 (3%) New Zealand 2 (1%) Malaysia 8 (3%) South Korea 2 (1%) Australia 9 (4%) Samoa 1 Thailand 10 (4%)

China 98 (37%) Phillippines 10 (4%)

Japan 11 (4%) 264 India 12 (5%)

Singapore 18 (8%) Hong Kong 62 (23%)

98 37+23+8+5+4+3+2+1+1+G 62

18 12 11 10 10 9 8 8 7 3 3 2 2 1 India China Japan Macau Taiwan Samoa Thailand Australia Malaysia Indonesia Cambodia Singapore Hong Kong Philippines Change South Korea New Zealand New from Total 2014 G100/G150 1 1 1 2 5 G200 10 6 2 4 2 4 2 1 1 1 33 -1 G280 4 1 2 7 +3 G300/G350 1 1 2 +1 G450 40 16 6 3 1 2 2 1 1 72 +6 G500 1 1 G550 41 26 5 3 1 1 3 2 1 3 2 1 2 2 1 94 +4 G650 9 5 1 1 2 18 +6 G650ER 2 1 3 +2 G-II 1 1 -1 G-III 1 1 -1 G-V 1 1 1 1 2 2 1 9 -2 G-IV/IV-SP 2 2 2 2 2 4 3 1 18 -3 Total 98 62 18 12 11 10 10 9 8 8 7 3 3 2 2 1 264 Change from 2014 +1 +9 -1 +1 +3 -1 -2 +3 +1 +14

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 33 ASIA PACIFIC REGION

Hawker Bangladesh 1 (1%) Macau 1 (1%) Hong Kong 2 (2%) Malaysia 1 (1%) Taiwan 3 (3%) South Korea 1 (1%) Singapore 3 (3%)

Japan 3 (3%) India 31 (32%) Thailand 7 (7%)

Philippines 9 (9%) 98

Indonesia 10 (10%)

Australia 14 (15%) 31 32+15+12+10+9+7+3+2+1+1+G China 12 (12%)

14 12 10 9 7 3 3 3 2 1 1 1 1 India China Japan Macau Taiwan Thailand Australia Malaysia Indonesia Singapore Hong Kong Philippines Bangladesh South Korea

Change from Total 2014 Hawker 4000 2 1 1 4 Hawker 400XP 1 1 2 2 6 Hawker 900XP 7 2 2 5 16 -2 Hawker 400/A/B/Diamond I 2 2 1 2 2 2 1 12 Hawker 1000A/B 1 1 2 -1 Hawker 700A/B/750 2 5 1 8 Hawker 800A/B/ 11 6 8 1 3 4 1 1 2 1 38 -2 850XP/XPI/125-1A Premier I/IA 6 2 2 1 1 12 Total 31 14 12 10 9 7 3 3 3 2 1 1 1 1 98 Change from 2014 -1 -2 -2 +1 -1 -5

34 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 35 Taj Air Metrojet Aviation (TAMA)

Prashant Bhushan, CEO

TAMA provides maintenance, repair and overhaul (MRO) and an extensive spare parts inventory, TAMA is ready to provide services for business jets based in India. It is a joint venture immediate maintenance support around the clock to Asia’s high between Taj Air, an executive charter service in India which flyers. is part of the publicly-listed multinational conglomerate TATA Group, and Metrojet, a business jet operator in Asia which is TAMA manages most of the India-registered Falcon 2000 and part of the Kadoorie group. The joint venture brings together Falcon 2000EX EASy aircraft in the country. Besides its affiliate nearly 40 years of combined business jet and aviation Taj Air, its customers include top corporate business entities in maintenance expertise into a single company, committed to India and other discerning private customers. providing unparalleled service to customers. The scope of services offered by the company include: TAMA is a fully certified CAR 145 maintenance repair station with approvals from the DGCA in India to maintain the Falcon • Line & Base maintenance 2000, Falcon 2000EX, P.180 Avanti II, Gulfstream G550, • Avionics line maintenance G200, and Hawker (700/800/900) business jets. TAMA is an • Interior & exterior cleaning Authorized Service Center for Dassault Falcon for the Falcon • Tyre change and maintenance on aircraft wheels 2000 and 2000EX and manages the largest fleet of Dassault • Maintenance of Ni-Cd batteries installed in aircraft Falcon business jets in India. TAMA can carry out maintenance • CVR and DFDR readout on Falcon 2000 aircraft fitted with CFE738-1-1B engines, • AD, SB & Modification Compliance Falcon 2000EX EASy aircraft fitted with Pratt & Whitney 308C engines and Piaggio P180 Avanti II aircraft fitted with P&W Prashant Bhushan is the CEO of Taj Air Metrojet Aviation, PT6A-66B engines. having taken over the reins in 2015. A general management professional with the TATA Group, Prashant is one of the few TAMA currently operates out of a state-of-the-art hangar in young professionals to have moved laterally into this sector Mumbai and also provides line maintenance at other key after a decade in telecommunications with the TATA Group and locations in India such as Kolkata, Chennai and Delhi. With a with experience in several general management roles in both team of over 30 highly experienced and skilled maintenance retail and enterprise business. professionals, combined with top quality infrastructural support

36 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 What has been your experience of the Indian General criticism. Airports in Delhi, Mumbai, Bengaluru and Hyderabad Aviation market? are all world-class in terms of passenger amenities. What is missing perhaps is the scale to allow for creating the all-important In the last 12 months, I have traveled extensively and had the ecosystem for MROs by way of earmarking specific space for opportunity to interact with most of the major OEMs. Over the hangars, parking bays, MRO back shops, warehouses, etc. last few years, it seems that most OEMs have seen India as a potential long-term market, but are fraught with caution given How do you think the Government is responding to manage the need to create adequate infrastructure in order to realize the demand on Aviation infrastructure in India? the suppressed demand clearly present in the country. It is important for this perception to change for the better and the on- The Ministry of Civil Aviation (MoCA) is trying to implement clear ground investments in airports & supporting ecosystems such as steps to manage the growth of aviation. For the MRO industry MRO will be the key to translating this promise into reality. in particular, there is a realization that most of the opportunity (estd 90%) of MRO on Indian aircraft is being lost offshore, both India has one of the youngest and fastest-growing wealthy because of the high-quality and OEM-approved status of MROs populations in the world. A recent report states billionaires in outside India and the lack of infrastructure and high-capability India grew 333% in the last 10 years, compared to the global MROs in the country. The issue is a dilemma because currently average of 68%. This suggests that India is a strong and high- certain tax norms and customs duties are stacked against Indian potential market for business jets but the question in people’s MROs. But at the same time if no Indian MRO invests in creating mind is about whether the infrastructure will enable some of this significant capability, it may give the government little confidence “suppressed demand” to manifest itself adequately or not. to reduce existing taxes and duties.

What do you see as some of the unique challenges or The recently released draft civil aviation policy (tabled in Oct features of the General Aviation market in India? 2015) identified the need to correct long-pending issues such as the waiver of customs duty on toolkits, spares, equipment; I see the same unique characteristic exhibited in India in General exemption of service tax; and the reduction of royalties on MRO. Aviation as I experienced for a decade in my previous industry Some of these have been ratified in the recently released Union (telecommunications): an extreme attentiveness to the price- Budget. Others, we hope, would follow in due course. for-value equation. Indian owners (not just individuals, but also corporate clients) are extremely careful about money spent, even What is the potential for the MRO industry in India? on an item such as a $20-$50M business jet. It is the DNA that is embedded in the Indian psyche, in that of its people, to not The total industry size is about $800 M at the moment and is be profligate. Hence there is a compelling need to translate the expected to increase to $2B in 2020. Naturally 90% of this is promise of a brand or of great quality, into a clear and tangible commercial MRO, given the huge expectation for fleet growth (from value proposition for customers here. I think that also presents currently 400 commercial aircraft to 1000). Today around 90% a great opportunity for an MRO like us, an upcoming challenger of this is ‘exported’ out of the country. The short-term opportunity in the Indian market, to build a MRO of high quality & global for Indian MROs is to retain a significant portion of this business standards, yet with a strong price-to-value offering. In our minds, in the country, but that would mean investment in capability to high quality and efficient costs are not tradeoffs. One could at least match that of neighboring MROs such as in Dubai & lead to the other with the right attention to processes, quality Singapore. In the long-term I believe that India can, and should, standards, and through satisfied and motivated employees. capitalize on two significant advantages – its geographical positioning within Asia-Pacific; and perhaps more importantly, its The fleet fragmentation in India is also quite unique. In most young, trainable workforce which can deliver quality efficiently. markets, the top 10 types of jets make up 50-60% of the volume. In India, which has a total market of about 150 business jets, What do you see as the short-term strategy for MROs such there are 50-60 different types of aircraft, with several aircraft as your organization? types being just one or 2-3 of each type. This puts immense pressure on creating an associated ecosystem, whether it’s I would hesitate to say there is a short-term strategy that is the outfitting of the internal team to manage operations, MRO, different from the long-term, since the aviation business overall pilots, or even the regulator (who too has to invest in managing is a capital-intensive, long-cycle industry. I would say the path is and understanding these multitude of aircraft types with limited the same – build stellar quality and infrastructure, while investing resources). judiciously and in a phased manner; invest in people, systems and processes; and keep customer service and satisfaction at We also need to keep in mind that the high growth in domestic the heart of it all. commercial passenger traffic in India is among the highest in the world. As per the DGCA, Indian airlines flew 81 million Above all, I believe that the Indian MRO industry must first passengers in 2015, a 23% increase over 2014 (67.4 million). collaborate, then compete given the small size of the available This growth is putting immense pressure on the available airport market today. Poaching (clients, employees) from each other will infrastructure in the country and it is a reality that General only lead to a race to the bottom. We must first help to generate Aviation has to compete for this with commercial aviation. I think enough confidence in potential buyers so as to make incremental the airport authorities have done a great job, keeping pace with aircraft purchases, then we can compete once the pie grows! this growth so far, despite there being areas where they face

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 37 Aircraft Operation Highlights – India Landing and Overflight Permit

Landing permit lead time: 3 business days, or 1 business day for DGCA opens from 10:00-18:00 local Monday-Friday (no holidays) and overflight & refueling stops. does not issue permits after 16:00. Representative must visit, pilot in command must sign in person. Permits provided 24-48 hours in advance and valid for 48 hours and only 2 revisions are allowed. Permits for aircraft from China, Afghanistan, Pakistan or Somalia: lead time of 7 business days for landing permits and 3 business days for At military airports: overflight permits. - Permits require 15-20 bus. days lead time, valid +/- 2 hours - Requires each passenger & crew’s address and father’s name Valid vaccination certificate needed for passengers/crew from a country - Security clearance valid for 1 hour endemic for yellow fever. - Approach Plates not public – ATC will assist on approach Additional document for international departures can take 3 hours to complete

Srinagar

Airport Parking & Amenities Amritsar Most airports in India not operated 24/7 Chandigarh Larger airport of entry requires airport slots Delhi Only 2 FBOs in India: New Delhi and Mumbai Agra Slots can be requested via either email or fax and will be known Varanasi within 12 hours Udaipur Guwahati

Aircraft doors are sealed once parked and early access require Ahmedabad a letter and many hours of delay Kolkata Nagpur

Airport Restrictions Mumbai Pune Hyderabad Vishakhapatnam Mumbai (BOM / VABB): • Most challenging airport in India

• GA cannot operate between 08:00-10:00, 17:30-19:30 & Goa 21:15-23:15

• 72-hour GA parking limitation Bangalore Chennai Port Blair • Slots are hard to obtain and valid for -15/+45 min only • Pilot in command and handler need go physically confirm a flight

Chandigarh (IXC / VICG) & Goa (GOI / VAGO): • Parking limitations – should be confirmed in advance • Military airport with limited GSE availability

Port Blair (IXZ / VOPB): General Aviation Operations • No Chinese national is permitted unless special clearance Foreign-registered aircraft can only remain in India a maximum of 14 days. • Military airport with limited GSE Availability Private flights can have no more than 14 passengers, special clearance Bangalore (BLR / VOBL) & Delhi (DEL / VIDP) : needed if more than 14 pax for charters. ATC checks pax count to issue flight plan. • Requires Slots to confirm parking In Indian airspace, aircraft must be RVSM compliant and equipped with TCAS II. Indian-registered aircraft and spare parts are subject to 12.5 VAT + 18.5% duty (if private) or +3% duty (if charter).

*information provided by Nexus Aviation

38 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 2015 GROWTH BY OEM, SIZE & COUNTRY

The Asia Pacific region grew a net* 6.2% in 2015 with the addition of 66 aircraft.

Even though New Zealand had the highest growth rate (50%), surprisingly Hong Kong was the territory which added the most net aircraft (16 aircraft) throughout the region. So despite all the operational challenges in operating to and from HK International Airport, the appeal of Hong Kong as a business jet base remains strong.

China, the largest business jet market in the Asia Pacific region, continued its slowdown from a high in 2012 to growth of just 4% in 2015. In contrast, the 2nd biggest market in the Asia Pacific region – Australia – experienced a healthy growth of 7%, and the 4th largest – Hong Kong – 14% growth.

The smaller markets of Indonesia, the Philippines and Japan all added additional aircraft and in doing so, all experienced double digit growth. Notably, markets which performed poorly in 2015 were Malaysia and Macau, both of which actually contracted, and South Korea, Thailand and Singapore which all remained stagnant registering no growth at all.

The best performing OEM in 2015 in the Asia Pacific region by growth rate was Airbus with a 21% increase of its fleet. However, in regards to the most net aircraft added, this honour goes to Bombardier with 33 additional aircraft in total, thus achieving an impressive growth rate of 12%. Gulfstream was second with 14 net aircraft added and a corresponding growth rate of 6%. Hawker was the only OEM which saw its Asia Pacific region fleet contract, which it did by 5% in 2015. All other OEM’s fleets grew from 3% to 6%.

Honours also go to Bombardier for the most popular aircraft model added to the region, which was the Global 6000 with 13 more aircraft added throughout 2015, for an impressive model fleet growth of 59%. The second highest growth was for the G650/650ER from Gulfstream with 8 additional aircraft added in total for a remarkable +62%.

Given the growing popularity of the G6000 and G650, it’s not too surprising that the Asia Pacific region size category growing the fastest in 2015 was the ‘long-range’ category with 11% (+27) more aircraft. The ‘large’ category fleet also performed well with growth of +7% in 2015 - a net addition of 17 aircraft, generally either Challengers or G450s.

The only size category where the fleet contracted in 2015 was the ‘medium’ category – a drop of 2% – and this was despite some strong growth in the Asia Pacific region for the G280.

* Net = New aircraft deliveries & pre-owned additions less aircraft that left the region (deductions).

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 39 ASIA PACIFIC REGION Fleet Breakdown – Asia Pacific Region Net Fleet Growth by Major OEM

+12% 2014 2015

306 +6%

273 264 +4% 250

220 212

-5% +6% +5% 103 98 86 91 +21% +3% 66 69

34 33 28 32

Bombardier Gulfstream Cessna Hawker Dassault Embraer Airbus Boeing

Net Fleet Growth by Size Category +11%

+7% 277 +6% 250 253 236 -2% 220 207

178 175 +8%

+4% 123 114

83 86

Corp. Airliner Long Range Large Medium Light Very Light

40 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Corp. Airliner

2014 2015 Largest Fleet Additions

+4

22 22 20 20 18 14 12 11 10 10 7 8 9 8 5 5 3 3 2 3

BBJ Challenger ACJ319 Challenger CRJ100/ ACJ318 Lineage BBJ2 A319ER ACJ320 800/850 870 200/VIP 1000

2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

ERJ 727-100 737-400 747-400 757-400 767-200ER A340-200 ACJ330 BAE 146 Dornier 737-200 135ER/LR 328 JET ADVANCED

Long Range

94 90

Largest Fleet Additions

+13

36 36 35 33 29 29 30

22 18 19 18

12 11 9

3 1 1 1

Gulfstream Falcon 7X Global Global Global Gulfstream Global Gulfstream Gulfstream Gulfstream G550 6000 5000 Express G650 Express V G650ER G500 XRS

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 41 ASIA PACIFIC REGION Large Largest Fleet +6 Additions 72 2014 2015 66

39 34

24 20 21 22 21 19 19 18 13 13 11 12

Gulfstream Challenger Challenger Legacy Legacy Gulfstream Falcon Falcon G450 605 604 650 600 IV/ 2000/DX/ 2000LX/ IV-SP EX EASy LXS

7 7 6 7 7 7 6 6 2 2 1 2 1 2 1 1

Challenger Falcon Falcon Falcon Falcon Gulfstream Gulfstream Gulfstream 600/601 900EX/ 900LX 900/C/DX 2000S G300/G350 II III EASy Medium

40 38 34 33

20 18 18 18 17 16 13 13 8 8

Hawker 800A/ Gulfstream Challenger Citation Hawker Learjet 60/ Hawker B/850XP/XPI G200 300/350 Sovereign 900XP XR 700A/B/ Highest /125-1A /+ 750 Growth +75%

7 6 6 5 5 4 4 4 4 4 3 2 2 2 1

Gulfstream Citation Gulfstream Falcon Hawker Falcon 50 Hawker Legacy 500 G280 X/+ G100/ 20D/ F-5 4000 1000A/B G150

42 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Light Largest Fleet Additions

+3 2014 2015 38 35

27 29 25 25 22 21

14 14 12 12 12 10

Citation S/ Citation Learjet 35/ Citation Citation Citation Hawker II/Bravo/ Excel/ A/36/A CJ2/+ Ultra/V 500/I/SP 400A/B/ II/SP XLS/ + Diamond I Largest Fleet Additions

12 12 +3 10 10 7 7 7 7 6 6 4 5 5 5

Westwind Citation Learjet 45/ Citation Learjet Hawker Citation 1/2 III/V/VII XR CJ4 31/A 400XP CJ3

5 5 4 4 1 2 1 1 1 1 1 1 1

Phenom Citation Nextant Falcon 10 Learjet 40 Learjet 75 Sabreliner 300 Encore/+ 400XT/XTi 65

Very Light

32 32 Highest Growth

24 23 +20%

12 12 12 10

4 4 2 2

Citation Citation Phenom Premier Learjet EA500 525/ Mustang 100 I/IA 24/B/D/E/ CJ1/+/M2 25B

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 43 ASIA PACIFIC REGION Fleet Breadown by Country

Japan

by Major OEM 2014 2015 +13%

26 23

10 11 5 4 3 3 2 2 1 1 1 1

Cessna Gulfstream Bombardier Hawker Dassault Airbus Boeing

by Size Category +18%

+20% 20 17 12 10 6 6 5 5 4 4 2 2

Corp. Airliner Long Range Large Medium Light Very Light

South Korea by Major OEM

7 8 6 5 3 3 2 2 1 1 1 1

Cessna Boeing Bombardier Gulfstream Hawker Airbus

by Size Category

7 6 5 4 4 4 3 3 1 1 1 1

Corp. Airliner Long Range Large Medium Light Very Light

44 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Thailand by Major OEM 2014 2015

11 10 8 8 7 7 3 2 2 2 2 2 1 1

Gulfstream Cessna Hawker Dassault Airbus Boeing Bombardier by Size Category

10 10 8 7 6 4 4 6 2 3 3 3

Corp. Airliner Long Range Large Medium Light Very Light

Philippines by Major OEM +43%

10 11 11 10 10 9 9 7 3 4 1

Cessna Bombardier Gulfstream Hawker Dassault Airbus by Size Category

+43% 15 16 13 14 10 7 4 4 2 3 3 2

Corp. Airliner Long Range Large Medium Light Very Light

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 45 ASIA PACIFIC REGION Malaysia by Major OEM

2014 2015 -20% 15 15 10 8 9 8 7 7 3 2 1 2 2 1 1 1

Bombardier Cessna Gulfstream Dassault Boeing Airbus Hawker Embraer

by Size Category

-27% +29% 15 14 13 11 9 7 7 7 4 4 1 2

Corp. Airliner Long Range Large Medium Light Very Light

Singapore by Major OEM +21%

29 24 19 18 -40% -67% 6 7 5 3 3 3 2 1 1 1

Bombardier Gulfstream Embraer Hawker Boeing Cessna Airbus Dassault

by Size Category +10% +13% 22 -21% 20 17 15 14 11 8 7 3 3 3 3

Corp. Airliner Long Range Large Medium Light Very Light

46 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Indonesia by Major OEM

+44% 2014 2015 +75% 13 13 13 9 10 10 8 7 4 4 4 2 2 2 2

Embraer Bombardier Hawker Gulfstream Cessna Dassault Boeing by Size Category

+125% 17 18

11 12 9 7 7 4 4 4 2 2

Corp. Airliner Long Range Large Medium Light Very Light

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 47 GREATER CHINA

GREATER CHINA OVERVIEW

Greater China (China, Hong Kong, Macau and Taiwan) is the largest business jet market in the Asia Pacific region. It therefore warrants its own special section and analysis. It is also the market that ASG has followed the longest – since 2012.

In 2015, Greater China only added 29 net aircraft – 39 new deliveries, 28 pre-owned deliveries but 38 aircraft also left the region. This total of 29 is down 50% versus 2014. The pre-owned additions & deductions have only marginally changed versus 2014 (up 8% and 9% respectively). So 2015’s poor performance is strictly due to a decline in new aircraft deliveries which were 28 fewer than in 2014, a drop of 42%.

New aircraft deliveries peaked in 2014 with an addition of 67 new aircraft. Given that new deliveries are a consequence of OEM orders placed years before, these deliveries were probably the result of orders placed before 2013 and prior to the implementation of certain PRC Government initiatives and policy actions which decreased the demand for new business jets. 2015’s drop of 42% in new aircraft deliveries is therefore a worrying sign for 2016 and on, as it would seem to signify that the OEM sales funnel for Greater China has little backlog.

Of the 29 additions, Hong Kong was responsible for 16 aircraft, China 11, Taiwan 3 and Macau’s fleet contracted by 1 aircraft.

On a net basis in 2015, the most popular aircraft addition in Greater China was the Global 6000 (+7 aircraft) followed by the G650 (+6 aircraft).

Looking just at new aircraft deliveries, Gulfstream was the OEM who delivered the most aircraft into Greater China in 2015 (+15 aircraft), and the top 4 aircraft models delivered were the Global 6000 (+6), G650 (+5) and the Challenger 605 and G550 (+4 each). Deliveries of most other models were similar or down from 2014.

For pre-owned additions, again Gulfstream had the most deliveries (10 aircraft) and the most popular types were the G450 (+6 aircraft) followed by the ACJ319 (+3 aircraft).

Gulfstream suffered the most deductions too in 2015 (-15 aircraft) with the prevalent models leaving the Asia Pacific region being the G550 (-5 aircraft), Global Express XRS (-4 aircraft), the G450 and G200 (both -3 aircraft each).

Examining the operators in Greater China, those which saw significant gains in 2015 included BAA, Jet Aviation, SinoJet and Hong Kong Jet. Those that saw decreased results were Deer Jet, TAG Aviation and Metrojet (however it should be noted that Hong Kong jet is a division of Deer Jet, so considering the combined group’s results, Hong Kong Jets’ gains functioned to minimise the impact of reduced mainland activity on Deer Jet’s fleet.

48 ASIA PACIFIC REIGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA

Aircraft Additions and Deductions

2015 29 Net Additions

39 New Deliveries 28 Pre-owned Additions 67

-38 Deductions

Net Additions 29

2014 58 Net Additions

67 New Deliveries 26 Pre-owned Additions 93

-35 Deductions

Net Additions 58

2013 64 Net Additions

56 New Deliveries 50 Pre-owned Additions 106

-42 Deductions

Net Additions 64

ASIA PACIFIC BUSINESS JET FLEET REPORT – YEAR END 2015 49 GREATER CHINA Net Additions in 2015 29 in total

ACJ319 -1 1 3 Deductions (-38) ACJ318 1 +3 New Deliveries (39) Airbus ACJ320 -1 1 ACJ330 -1 Pre-owned (28)

+4 BBJ -1 3 2 Boeing

Global 6000 6 1 Challenger 605 -1 4 Challenger 800/850 -1 1 2 +10 Challenger 870 1

Bombardier Global 5000 -2 2 Global Express XRS -4 2 Challenger 300/350 -2 1

Citation Mustang 1 +1 Citation Excel/XLS/+ 1 Cessna Citation Sovereign/+ -1

Falcon 7X -3 1 2 +1 Falcon 2000LX/LXS 1 Dassault Falcon 900LX -1 1

Legacy 650 -1 2 +1 Phenom 100 1 Embraer Lineage 1000 -1

G450 -3 2 6 G650 5 1 G550 -5 4 1 +10 G280 3

Gulfstream G650ER 1 1 G200 -3 1 G-IV/IV-SP -2 G-V -2

-1 Hawker 800A/B/ 850XP/XPI/125-1A -1 1 Hawker Hawker 900XP -1

50 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA New Deliveries by OEM

25 2013 2014 2015 19 16 15 14 13 10 8 8 9 5 3 3 1 2 2 2 2 2 2 1

Gulfstream Bombardier Embraer Boeing Dassault Airbus Cessna

OEM MODEL 2013 2014 2015 ACJ318 1 1 ACJ319 1 1 Airbus ACJ320 1 ACJ330 1 BBJ 1 3 Boeing BBJ2 2 Challenger 300/350 1 1 Challenger 605 4 4 Challenger 800/850 1 1 Bombardier Challenger 870 6 1 Global 5000 1 3 Global 6000 3 7 6 Citation CJ1 1 Citation Excel/XLS/+ 1 Cessna Citation Mustang 2 Citation Sovereign/+ 1 Citation XLS/+ 3 Falcon 2000 1 1 Falcon 2000LX/LXS 1 Dassault Falcon 7X 11 7 1 Falcon 900LX 2 1 Legacy 650 5 5 2 Lineage 1000 2 3 Embraer Phenom 100 1 Phenom 300 1 G280 4 3 G450 13 8 2 Gulfstream G550 5 11 4 G650 1 2 5 G650ER 1 Total 56 67 39

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 51 GREATER CHINA Pre-owned Additions by OEM

19 2013 2014 2015 17

10 9 7 6 5 2 4 3 3 4 2 2 1 1 1 1 1

Gulfstream Bombardier Boeing Embraer Dassault Airbus Cessna

OEM MODEL 2013 2014 2015 ACJ318 1 Airbus ACJ319 2 3 ACJ320 1 Boeing BBJ 2 2 2 Challenger 604 3 Challenger 605 3 Challenger 800/850 5 1 2 CRJ200VIP 1 Bombardier Global 5000 3 1 2 Global 6000 2 1 1 Global Express 1 1 Global Express XRS 2 1 2 Learjet 60/XR 1 Citation Mustang 1 Citation Sovereign/+ 2 1 Cessna Citation VI 1 Citation X 1 Citation XLS 1 Falcon 2000LX 1

Dassault Falcon 7X 1 2 2 Falcon 900LX 1 1 Legacy 600 1 Embraer Lineage 1000 1 G100 1 G200 3 3 1 G450 6 3 6 Gulfstream G550 7 3 1 G650 1 G650ER 1 Hawker 400/A/XP 1 Hawker Hawker 4000 1 Hawker 800A/B/850XP/XPI/125-1A 2 1 Total 50 26 28

52 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA Deductions by OEM

2013 2014 2015 15 15 11 11 10 10 9 6 3 3 4 3 4 3 1 1 2 2 1 1

Gulfstream Bombardier Dassault Airbus Embraer Hawker Cessna Boeing

OEM MODEL 2013 2014 2015 ACJ318 1 ACJ319 1 Airbus ACJ320 1 ACJ330 1 Boeing BBJ 1 Challenger 300/350 1 2 Challenger 601 2 Challenger 605 4 2 1 Challenger 800/850 1 CRJ200VIP 1 Bombardier Global Express 3 2 Global Express XRS 2 4 Global 5000 1 2 Global 6000 1 1 Learjet 60/XR 1 Citation CJ3 1 Citation XLS/+ 5 Cessna Citation Sovereign/+ 1 1 1 Citation VI/VII - 1 Falcon 900LX 1 Falcon 2000 3 Dassault Falcon 2000LX 2 Falcon 7X 1 3 Legacy 650 1 Embraer Lineage 1000 1 1 G200 4 4 3 G450 6 5 3 Gulfstream G550 6 5 G-IV/IV-SP 1 2 G-V 2 Hawker 750 4 Hawker 800A/B/XP/850XPI/125-1A 2 1 Hawker Hawker 900XP 2 1 1 Hawker 4000 1 3 Total 42 35 38

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 53 GREATER CHINA Fleet by Operator & Models Deer Jet 2013 2014 2015 212020 66 68 59

14 1213

7 6 6 6 5 3 4 4 4 4 4 3 3 3 2 2 2 1 1 2 2 2 1 1 1 1 1 1 1 1 1 1 2 1 1 2 1

BBJ 4000 G550 900XP Hawker Hawker ACJ319 ACJ320 IV/IV-SP Falcon 7X Falcon Gulfstream Gulfstream Global 6000 Global Gulfstream V Gulfstream Falcon 900LX Falcon Falcon 2000S Falcon XP/XPI/125-1A Challenger 605 Hawker 800A/B/ Hawker Gulfstream G200 Gulfstream G450 Gulfstream

TAG Aviation 2013 2014 2015 25 35 30

6 7 6 7 6 4 4 3 4 3 3 1 1 2 2 1 1 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 1 1 1

ACJ319 Falcon 7X Falcon Legacy 650 Legacy Global 5000 Global 6000 Global Falcon 900LX Falcon Lineage 1000 Lineage Learjet 60/XR Learjet Global Express Global Falcon 2000LX Falcon Challenger 604 Challenger 605

Gulfstream G450 Gulfstream G550 Gulfstream G650 Gulfstream Global Express XRS Express Global Challenger 800/850

BAA 2013 2014 2015 40 45 54

11 9 8 8 7 8 8 8 5 5 4 4 3 3 3 3 4 3 2 1 2 1 1 1 2 1 1 1 1 1 1 2 1 1 1 2 2 1 2 2 1 2 2

G200 /+/M2 ACJ319 ACJ318 Falcon 7X Falcon Gulfstream Legacy 650 Global 6000 Global Hawker 4000 Hawker Falcon 900LX Falcon Lineage 1000 Lineage Learjet 60/XR Learjet Challenger 605 Citation 525/CJ1 Citation Gulfstream G280 Gulfstream G450 Gulfstream G550 Gulfstream Falcon 900EX/EASy Falcon Challenger 800/850

54 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA

2013 2014 2015 Jet Aviation 17 21 29

9 7 7 5 6 3 3 2 2 1 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1

Falcon 7X Falcon Citation CJ3 Citation Global 5000 Global 6000 Global Falcon 900LX Falcon Global Express Global Challenger 605 Gulfstream G450 Gulfstream G550 Gulfstream G650 Gulfstream Gulfstream G200 Gulfstream Gulfstream G650ER Gulfstream

Metrojet 2013 2014 2015 28 31 26

1313 9 5 3 4 1 1 1 1 2 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 2 1 1 1 1

BBJ Legacy 650 Legacy 600 Legacy Global 5000 Global Gulfstream V Gulfstream Lineage 1000 Lineage Global Express Global Challenger 604 Challenger 605 Gulfstream G200 Gulfstream G450 Gulfstream G550 Gulfstream G650 Gulfstream Global Express XRS Express Global Gulfstream G650ER Gulfstream Citation Sovereign/+ Citation Challenger 800/850

Sino Jet 2013 2014 2015 8 10 18

3 3 1 2 1 1 1 2 2 1 1 1 1 1 1 2 1 1 2 2 1 2 2 1

BBJ Legacy 650 Legacy Global 5000 Global Falcon 900LX Falcon Global Express Global Challenger 605 Gulfstream G200 Gulfstream Gulfstream G450 Gulfstream G550 Gulfstream G650 Gulfstream Challenger 300/350

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 55 GREATER CHINA Hongkong Jet 2013 2014 2015 7 12 17

3 3 1 1 1 2 2 1 1 1 1 1 1 1 2 1 1 1 1 3 1 2 2 1 1

BBJ ACJ319 ACJ318 Falcon 7X Falcon Legacy 650 Legacy Global 5000 Global Lineage 1000 Lineage Challenger 605 Gulfstream G450 Gulfstream G550 Gulfstream G650 Gulfstream Global Express XRS Express Global

China Eastern 2013 2014 2015 14 16 14

5 5 3 3 3 3 3 1 1 1 1 1 1 1 1 1 1 1 1 2 2 1 1 1

ACJ318 Legacyy 650 Legacyy Falcon 2000LX Falcon Hawker 800A/B/ Hawker Gulfstream G200 Gulfstream G450 Gulfstream G550 Gulfstream Global Express XRS Express Global 800XP/XPI/125-1A Citation Sovereign/+ Citation Challenger 300/350

Lily Jet 2013 2014 2015 11 12 13

5 4 5 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2

CRJ200 VIP CRJ200 Global 5000 Global Global Express Global Challenger 604 Challenger 605 Gulfstream G200 Gulfstream Global Express XRS Express Global Challenger 800/850

Global Jet

2 2 2013 2014 2015 1 1 1 1 1 1 1 1 1 1 1 1 1 1 4 6 8

ACJ319 Falcon 7X Falcon Global 6000 Global Gulfstream G450 Gulfstream G650 Gulfstream Global Express XRS Express Global Falcon 2000LX/LXS Falcon

56 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA 2015 Growth & 2016 Forecast

The Greater China market has seen its business jet fleet growth rate decline for 3 consecutive years now – from a high achieved in 2012 of almost 50% growth, to a mere 6.6% in 2015There are early signs from 2016 though that business aviation activity levels are picking up:

• ASG’s market survey for its 1st quarter 2016 “Quarterly” magazine, saw 33% of the respondents from Greater China report that their aircraft utilisation had increased versus the last quarter of 2015. Also those reporting their aircraft utilisation decreased shrunk to 39% versus 49%. • Business aviation activity levels at Shanghai’s 2 airports – Pudong & Hongqiao – are up over 30% versus a year ago. January & February 2016 were the strongest start to a year ever with nearly 900 movements.

Examining the growth in Greater China further, it is essentially Hong Kong & Taiwan propping up the numbers in 2015 with 14% and 16% growth respectively. China’s growth itself was a mere 3.8% in 2015, down from 26% in 2013, and Macau contracted by reducing its fleet by 1 aircraft.

The OEM with the highest fleet growth in Greater China in 2015 was Boeing with 36%, and the only OEM who grew more in 2015 than in 2014 was Airbus with its fleet increasing 16%. Given these 2 growth rates, it is no surprise that the ‘corporate airliner’ size category was one of the highest growing segment in 2015 at 11%.

But the facts above are not necessarily good news for business jet sales in Greater China and in ASG’s opinion, don’t project well for 2016 and on. Business jet fleet growth in Greater China in the past came from the ‘long range’ and ‘large’ size market segments, not the ‘corporate airliner’ one. In particular, growth used to come from the G550s, Falcon 7Xs, Global 6000s and G450s being added to the fleet, not ACJs and BBJs. But in 2015, the markets for G550s and F7Xs were stagnant, the G450 only added 5 aircraft, and although the Global 6000 had 7 net additions, it alonecould not make up for the ground lost in other markets.

ASG sees a difficult year ahead in 2016 and no growth recovery in Greater China. The expectation is that business jet fleet growth will continue to decline but be moderated somewhat by continued positive activity levels in the pre-owned market. ASG is forecasting a high of 5.2% growth for 2016 but this could go even lower depending on China’s economic performance.

600 60%

+49.3% 490 500 466 50% 437 +41.5% +42.6% 400 379 40% 315 +28.3% 300 30% +25.4% No. of Aircraft 211 +20.3% % Rate Growth 200 20% 148 +15.3% 118 100 92 +6.6% 10% 65 +5.2%

0 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 57 GREATER CHINA Net Fleet Growth – Per Aircraft Base

2013 2014 2015

300 289

250

132 116 99

22 13 13 12 17 19

China Hong Kong Macau Taiwan

% Growth Per Aircraft Base

143%

26% 16% 17% 14% 12%16% 4% 6% 0%

-8% -19%

China Hong Kong Macau Taiwan

58 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA Net Fleet Growth by Major OEM

171 2013 2014 2015 161

142 133 123

111

41 42 38 39 35 31 25 26 22 20 19 18 19 16 17 15 11 7

Gulfstream Bombardier Dassault Cessna Embraer Hawker Airbus Boeing

% Growth by Major OEM

100% 75% 63% 56% 57% 16 32% 36% 21% 21% 31% 13% 11% 9% 12%16% 6% 8% 2% 3% 3% 4%

-5% -5% -29%

Gulfstream Bombardier Dassault Cessna Embraer Hawker Airbus Boeing

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 59 GREATER CHINA Net Fleet Growth by Size Category

2013 2014 2015 162

151

123 120 112 103

83 74

57 58 58 56

24 26 27 14 16 18

Corp. Airliner Long Range Large Medium Light Very Light

% Growth by Size Category

34% 19%30% 23% 36% 12% 9% 8% 8% 14% 13% 7% 7% 4%

-3% -14%

Corp. Airliner Long Range Large Medium Light Very Light

60 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA Net Fleet Growth by Aircraft Model Corp. Airliner 2013 2014 2015

20 17 17 13 11 12 11 9 8 8 9 8 7 8 7 7 5 6 6 6 3 3 3 3 2 2 1 1 1

Challenger Challenger CRJ100/ Lineage 800/850 BBJ 870 ACJ319 200/VIP ACJ318 1000 A319ER BBJ2 ACJ320 ACJ330

Long Range

72 72

64

30 30

22 19 16 16 12 13 9 7 8 7 5 6 6 6 3 4 4 1 2 2

Gulfstream Gulfstream Global Global Gulfstream G550 Falcon 7X Global 6000 Global 5000 G650 Express XRS Express Gulfstream V G650ER

Large

57 52

46

25 25 23

14 15 9 6 6 5 4 4 4 3 3 3 3 3 4 4 2 2 2 2 2 1 1 1 1 1 2

Gulfstream Challenger Legacy Falcon Challenger Falcon Legacy Gulfstream Falcon Falcon Gulfstream Challenger 450 605 650 900LX 604 2000LX/LXS 600 IV/IV-SP 900DX/EX 2000S G300/G350 601

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 61 GREATER CHINA Medium

2013 2014 2015

20 19 17

10 10 9 8 8 7 7 5 5 5 4 4 4 4 4 4 3 2 2 2 2 2 2 1 1 1

Gulfstream Hawker Challenger Gulfstream Learjet Citation Gulfstream Hawker Hawker G200 800A/B/ 300/350 G280 60/XR Sovereign/+ G100/G150 900XP 4000 Citation X/+ 850XP/ XPI/ 125-1A

Light Very Light

13 13 13 11 12 8 5 5 5 4 4 4 3 4 4 3 4 1 1 1 2 1 1 1 1 1

Citation Excel/ Learjet Citation S/II/ Hawker Phenom 300 Citation Citation Citation 525/ Citation Phenom 100 XLS/+ 35/A/36/A Bravo/II/SP 400/A/B/XP III/VI/VII CJ3 CJ1/+/M2 Mustang

62 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 63 GREATER CHINA Net Fleet Change by Model 2013-2015

2013 2014 2015 +64 +58 +29

7

4 2 8 3 5 1 1 4 4 2 2 7 1 6 6 1 5 1 1 4 3 1 3 1 3 1 3 2 2 2 2 1 1 1 1 1 1 1 1 1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -2 -2 -1 -3 -1 -2 -4 -2 -1 -2 -4 -2 -1

BBJ BBJ2 ACJ319 ACJ318 ACJ320 ACJ330 CRJ200VIP Citation CJ1 Citation CJ3 Global 5000 Global 6000 Citation VI/VII Learjet 60/XR Learjet Global Express Challenger 870 Challenger 601 Challenger 604 Challenger 605 Citation Mustang Citation Soveign/+ Global Express XRS Challenger 300/350 Challenger 800/850 Citation Excel/XLS/+

64 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 GREATER CHINA

8

5

11

3

14

9

2 19

1 12 5 12 6 3 1 3 4 2 3 1 2 4 4 2 3 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 -1 -1 -1 -1 -1 -1 -2 -2 -2 -3 -1 -3 -4 -2 -4 -5 -3 -1 -1 -6 -6 -1 -2

-4

-5 -5 -3

-3

Citation X Falcon 7X Falcon Legacy 650 Legacy 650 Hawker 750 Hawker Falcon 2000 Falcon Gulfstream V Phenom 100 Phenom 300 Hawker 4000 Hawker Falcon 900LX Falcon Lineage 1000 Citation XLS/+ Hawker 900XP Hawker Gulfstream G450 Gulfstream G100 Gulfstream G550 Gulfstream G200 Gulfstream G280 Gulfstream G650 Hawker 400/A/XP Hawker Gulfstream IV/IV-SP Falcon 2000LX/LXS Falcon Gulfstream G650ER Hawker 800A/B/850XP/XPI/125-A Hawker

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 65 66 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 2015 OPERATOR OVERVIEW

The top 20 operators in the Asia Pacific region fly 35% of the total business jets, with 9 of the top 10 being based in Greater China.

Australia has the most number of operators with 105, followed by India with 91 and then China with 54. But in Australia and India, the largest operator has a fleet of just 10 and 11 aircraft versus Deer Jet in China which operates 59 aircraft.

The Australian and Indian markets are extremely fragmented with 73 and 61 operators in each country flying just 1 aircraft. The top 5 operators in China operate 55% of the local fleet. In Hong Kong, the top 5 represents 68% of the fleet. The top 5 operators in Australia and India represent only 21% and 22% of their respective fleets.

Examining the top 10 operators in more detail:

• BAA added 9 aircraft in 2015 for a total of 54 aircraft and now operates by far the largest fleet of F7Xs in the Asia Pacific region (11 aircraft), as well as 18 Gulfstream aircraft. BAA’s fleet is split 83%/17% between China and Hong Kong. • Jet Aviation added 7 aircraft for a total of 39 aircraft, of which 25 are Gulfstreams, including 5 G650s. Jet Aviation’s fleet is largely based in Hong Kong (72%), but it also has aircraft based in Australia (1), Indonesia (3), Japan (3), Macau (1), Malaysia (1) and Singapore (2). • SinoJet also added 8 aircraft for a total fleet of 18 aircraft but operates 11 different models. Its fleet is split 44%/56% between China and Hong Kong. • Hongkong Jet added 7 aircraft for a total of 19 aircraft and is the largest operator of single aisle corporate airliners with a fleet of 4 Airbus’ and 4 Boeings. Its fleet is largely based in Hong Kong (11 aircraft) but it also has aircraft based in China (6) and Indonesia (2). • Deer Jet’s fleet shrank by 9 aircraft to a total of 59 mainly through a reduction in older Gulfstreams (GIVs and GVs) and Hawkers (800s and 900s). Deer Jet still remains a huge Gulfstream operator with 40 aircraft in its fleet. Its whole fleet is based in Mainland China. • TAG Aviation saw its fleet contract by 4 aircraft to 45 – F7Xs and Challengers mostly. TAG’s fleet remains dominated by Bombardier models (22 aircraft) and is the most diversely based with aircraft under management in 8 countries in the Asia Pacific region: Hong Kong (15), China (14), Singapore (7), Cambodia (3), Malaysia (3) and also Indonesia, Macau and The Philippines with 1 aircraft each. • Metrojet lost a net 5 aircraft through 2015 to end the year with a fleet of 30 aircraft. Most of the losses were Bombardier aircraft. Metrojet operates 19 Gulfstreams, including 3 G650s. 26 aircraft (87%) are based in Hong Kong, with the remaining aircraft being based in the Philippines. • China Eastern’s fleet contracted by 2 aircraft in 2015, down to 14 in total. Its fleet is dominated by the Legacy 650 and G450/G550 family with 5 aircraft of each. Its fleet is based in China. • Lily Jet grew by 1 aircraft in 2015 to 13 in total. 11 aircraft in its fleet are Bombardier models including 5 Challenger 800/850s with 11 aircraft are based in China and 3 in Hong Kong. • Execujet has a fleet of 18 aircraft, spread amongst 5 different bases, with the biggest fleets being in Australia (8) and Singapore (5).

ASIA PACIFIC REGIONBUSINESS BUSINESS JET FLEET JET REPORT FLEET REPORT– YEAR END – YEAR 2015 END 2015 67 ASIA PACIFIC REGION Top 20 Operator Fleets by OEM – Asia Pacific Region 35% of total Asia Pacific fleet

The Top-20 operators in Asia Pacific fly 35% of the total business jet fleet in the region. Deer Jet, BAA, TAG Aviation, Jet Aviation, Metrojet and Hongkong Jet remain the top five jet operators in the region while many Chinese and Hong Kong operators follow, making Greater China count for 10 out of the top 20 Asia Pacific operators.

59

54

45

39

30

19 18 18 14 14 BAA Lily Jet Sino Jet Deer Jet Metrojet Execujet Jet Aviation Jet TAG Aviation TAG Hongkong Jet Hongkong China Eastern

Airbus 3 3 1 1 4 1 1 2 16 Boeing 2 1 4 2 1 1 11 Bombardier 1 11 31 10 4 1 5 14 1 12 4 4 1 3 1 1 1 1 8 114 Cessna 1 1 1 6 6 4 19 Dassault 6 14 4 2 2 1 3 2 1 3 38 Embraer 7 1 2 1 2 5 2 6 26 Gulfstream 40 18 8 25 23 7 8 3 6 2 5 2 2 4 1 154 Hawker 7 1 1 4 13 Westwind 6 6 Total 59 54 45 39 30 19 18 18 14 14 11 10 9 9 8 8 8 8 8 8 397

68 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 11 10 9 9 8 8 8 8 8 8

MJETS Aero Air Aero Asia Jet Vista Jet Premiair Reliance Reliance Korean Air Korean Challenger AR Airways Global Jet Asia Global Jet Pel-Air Aviation

Transport & Travels Transport Total

Airbus 3 3 1 1 4 1 1 2 16 Boeing 2 1 4 2 1 1 11 Bombardier 1 11 31 10 4 1 5 14 1 12 4 4 1 3 1 1 1 1 8 114 Cessna 1 1 1 6 6 4 19 Dassault 6 14 4 2 2 1 3 2 1 3 38 Embraer 7 1 2 1 2 5 2 6 26 Gulfstream 40 18 8 25 23 7 8 3 6 2 5 2 2 4 1 154 Hawker 7 1 1 4 13 Westwind 6 6 Total 59 54 45 39 30 19 18 18 14 14 11 10 9 9 8 8 8 8 8 8 397

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 69 Hawker Pacificker Pacific Aircraft Manage- ment

The Hawker Pacific Aircraft Management team is made up of aviation specialists whose combined aircraft operations experience spans more than 200 years and 5 continents. The company’s state of the art Operations Control Centre in Sin- gapore is in charge of managing the fleet around the clock, serving as the center for its clients aircraft that are based throughout the region, in- cluding in cities like Sydney, Singapore, Jakarta, and Manila.

Senior Vice President Patrick Enz, who has spearheaded Hawker Pacific’s Aircraft Manage- ment services out of Singapore since 2012, says the group’s heritage dates back to 1978 and Hawker Pacific’s name comes from the entrepre- neurial activities of Australian aviation pioneer Harry Hawker.

Hawker Pacific’s basic mission is to find solu- tions for aircraft owners’ needs. It delivers a full service that combines the mentality of tra- ditional private banking with a modern asset management approach. The company focuses on its clients’ global travel needs, helping aircraft owners find the most effective ways to take the hassle out of aircraft ownership and protect the value of their investment. “The company at all times represents the owner’s interests and of- fers full transparency of operational costs, with no markups, commissions, or added fees, as it brings clients the peace of mind that comes with a tailor-made solution,” says Enz.

Hawker Pacific’s Operation Management System integrates the latest quality and safety systems to ensure consistent levels of product and service delivery. Hawker Pacific’s administration offers customers a snapshot of operations and finan- cial data along with the status of past and up- coming maintenance inputs at all times. These quality services are delivered through a modular approach to aircraft management tailored to fit each individual situation. These modules can be Patrick Enz, combined to take a customer from aircraft eval- uation through the purchase and delivery stage Senior Vice President to aircraft operation, and can even be extended to include the stage of aircraft re-evaluation and sale, when that time comes.

70 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 With such extensive services customized to a client’s about the specific needs of his Asian customers, Enz re- particular needs, the aircraft owner can enjoy all the plied, “In Asia, end users tend to utilize their aircraft for prestige, flexibility and convenience of private aircraft private use rather than just as a business tool. For this ownership while minimizing the complex and time-con- reason, we tailor our services to cater to their personal suming tasks involved with the operation, administra- requirements. For instance, we have a customer who tion and meeting regulatory requirements. prefers that the flight attendant prepares and cooks complex meals on-board, or procures their favorite dish- The services Hawker Pacific Aircraft Management of- es from a specific restaurant. Every crew is assigned fers span the full range of needs any aircraft owner will one aircraft only, and Hawker Pacific is committed to encounter over his or her’s years of owning an aircraft. going the extra mile for our customers.” Hawker Pacific’s dedicated team of experts help aircraft owners monitor their aircraft’s utilization and mainte- Hawker Pacific’s investment and focus in the region nance planning functions; bring professional oversight gives it a competitive advantage in the dynamic Asia-Pa- to the maintenance performed on the aircraft; review cific market. It will be exciting to see this company’s Airworthiness Directives and OEM Service Bulletins; plans become a firm reality in the upcoming years, given monitors the performance of flight crews; ensure that a steadily growing market at its doorstep and Hawker all records and regulatory requirements are completely Pacific’s ability to deliver a turn-key solution to suit any compliant; offer financial and accounting services; intro- Aviation customer’s needs. duce competitive insurance solutions, and most impor- tantly, assist the client in all their trip planning needs. The customer’s flight activities are managed through a sophisticated flight operations system that provides se- cure, round-the-clock access to all the aircraft’s details, while allowing pilots and crew to update flying hours and relevant information from any point on the globe.

Enz points to Hawker Pacific’s competitive advantage, saying “Hawker Pacific is a market leader in integrated civil and military aerospace sales and product support in South East Asia, Australia, the Pacific and the Middle East and is one of the largest independent companies of its type in the region with over 700 employees. The company’s Asian operations include established busi- nesses in Singapore, China, the Philippines, Thailand, Indonesia and Malaysia. Hawker Pacific has the whole package to deliver a turn-key solution to end users.”

When asked where he expects Hawker Pacific’s Aircraft Management business to be in the next five to ten years, Enz says “We started our aircraft management business in 2012 and have assembled a team that provides a seamless service that takes the burden of out aircraft ownership for the owner. So far, we have 10 management and support contracts in the region and are quite optimistic with growing 3-4 contracts per year.”

Hawker Pacific is the only full service aircraft manage- ment provider based in Singapore offering also in-house maintenance and hangarage services. When we asked

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 71 ASIA PACIFIC REGION Top Operator Fleets – by Aircraft Model China – 54 Operators in Total • 5 Operators shown represent 48% of the fleet • 14 Operators - 3-8 aircraft each • 14 Operators - 2 aircraft each 59 • 21 Operators - 1 aircraft each 45

14 14 11 BAA TAG Lily Jet China Deer Jet Eastern Aviation Change Total from 2014

ACJ318 1 1 2 ACJ319 2 1 3 ACJ320 1 1 +1 BBJ 2 2 Challenger 604 2 2 Challenger 605 1 3 1 5 -1 Challenger 300/350 1 1 Challenger 800/850 3 2 4 9 Global 5000 3 3 Global 6000 4 1 1 6 Global Express 1 1 2 Global Express XRS 1 1 -1 Learjet 60/XR 1 1 2 Citation 525/CJ/+/M2 1 1 Falcon 2000S 1 1 Falcon 7X 4 10 3 17 Falcon 900LX 1 1 1 3 +1 Lineage 1000 1 1 Legacy 650 5 5 1 11 +5 Gulfstream G200 4 1 1 6 -3 Gulfstream G280 2 2 +2 Gulfstream G450 14 7 2 1 24 +1 Gulfstream G550 20 5 3 28 Gulfstream V 1 1 -2 Gulfstream IV/IV-SP 1 1 -3 Hawker 4000 1 1 Hawker 800A/B/850XP/XPI/125-1A 5 1 6 -1 Hawker 900XP 1 1 -1 Total 59 45 14 14 11 143 Change from 2014 -8 +10 -2 -3 +1 -2

* The top 5 operators are shown unless many operators share the same number of aircraft at the 4th and 5th place.

72 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Hong Kong – 24 Operators in Total • 5 Operators shown represent 68% of the fleet • 1 Operators - 9 aircraft • 2 Operators - 4 aircraft each • 3 Operators - 3 aircraft each • 3 Operators - 2 aircraft each • 10 Operators - 1 aircraft each

28 26

15 11 10 Sino Jet Metrojet Jet Aviation Jet TAG Aviation TAG Hongkong Jet Hongkong

Change Total from 2014

ACJ318 1 1 ACJ319 2 2 -1 BBJ 1 3 1 5 +2 Challenger 300/350 1 1 Challenger 604 1 1 -1 Challenger 605 1 1 1 1 2 6 -1 Challenger 800/850 1 1 2 Global 5000 2 1 3 6 -1 Global 6000 3 6 9 +6 Global Express 1 1 2 -1 Global Express XRS 1 1 2 -1 Falcon 7X 1 1 2 -1 Falcon 900LX 1 1 -1 Legacy 600 1 2 Legacy 650 1 1 Gulfstream V 1 1 Gulfstream G200 1 1 1 3 Gulfstream G450 5 5 1 2 13 +1 Gulfstream G550 9 9 2 1 21 -3 Gulfstream G650 3 2 1 1 1 8 +5 Gulfstream G650ER 1 1 2 Total 28 26 15 11 10 90 Change from 2014 +9 -5 -1 +3* * include one Citation Sovereign/+ and one Lineage 1000 which left Hong Kong

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 73 ASIA PACIFIC REGION Macau – 7 Operators in Total • 3 Operators shown represent 67% of the fleet • 4 Operators - 1 aircraft each 4 2 2 Jet Asia Jet Fortuna Jet Management Change Macau Landmark Macau Landmark Total from 2014 Challenger 605 1 1 CRJ100/200/VIP 1 1 Global Express 1 1 Legacy 600 1 1 Lineage 1000 1 1 Gulfstream G550 2 2 Hawker 4000 1 1 +1 Total 4 2 2 8 Change from 2014 +1 +1

Taiwan – 12 Operators in Total • 4 Operators shown represent 64% of the fleet • 8 Operators - 1 aircraft each 6 4 2 2 Taiwan Win Air Jet EVA Airways EVA Development

Executive Aviation Aviation Executive Change Total Aerospace Industrial Aerospace from 2014 ACJ318 2 2 ACJ319 1 1 +1 BBJ 1 1 Global 5000 1 1 Global 6000 1 1 +1 Global Express XRS 2 2 +1 Legacy 600 1 1 Gulfstream G100/G150 2 2 Gulfstream G550 2 2 Hawker 400XP 1 1 Total 6 4 2 2 14 Change from 2014 +2 +1 -1 +2* * include one G450 which left Taiwan

74 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 75 ASIA PACIFIC REGION Japan – 28 Operators in Total • 6 Operators shown represent 45% of the fleet • 5 Operators - 2 aircraft each • 17 Operators - 1 aircraft each

5 4 4 3 3 3

Serice Asia Jet Jet Avaition Jet Coast Guard Japan - Civil Nakanihon Air Nakanihon Transportation Gov’t of Japan - Gov’t

Avaition Bureau Avaition Change Total

Ministry of Land & from 2014 ACJ318 1 1 BBJ 1 1 Global 6000 2 2 +1 Global Express 2 2 Citation CJ4 3 3 +3 Citation Ultra/V 3 3 Falcon 900/C/DX 2 2 Gulfstream G650 2 2 4 Gulfstream IV/IV-SP 2 2 Gulfstream V 2 2 Total 5 4 4 3 3 3 22 Change from 2014 +1 +3 +4

South Korea – 9 Operators in Total • 5 Operators shown represent 80% of the fleet • 4 Operators operate 1 aircraft

8 2 2 2 2 Center Korean Air Korean SK Telecom

Hyundai Motor Change

Flight Inspection Total

Samsung Techwin from 2014 ACJ319 1 1 BBJ 1 2 1 4 -1 Challenger 600/601 1 1 Global Express XRS 1 1 2 Citation 525/CJ/+/M2 2 2 Citation Ultra/V 4 4 Gulfstream G550 1 1 Hawker 700A/B/750 1 1 Total 8 2 2 2 2 16 Change from 2014 -1 -1

76 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION India – 91 Operators in Total • 5 Operators shown represent 21% of the fleet • 2 Operators - 3 aircraft each • 23 Operators - 2 aircraft each • 61 Operators - 1 aircraft each

11

9

4 4 4 Travels Aviation Services AR Airways India Fly Safe Airmid Aviation Airmid Aviation Air One Aviation Reliance Transport & Transport Reliance

Change Total from 2014 ACJ319 1 1 Challenger 604 1 1 Challenger 800/850 1 1 CRJ100/200/VIP 1 1 Global 5000 1 1 2 +1 Global 6000 1 1 2 +1 Global Express 1 1 Global Express XRS 1 1 Citation Excel/XLS/+ 2 1 1 4 Citation S/II/Bravo/II/SP 4 1 5 Falcon 2000/DX/EX EASy 1 2 3 +1 Falcon 7X 1 1 +1 Falcon 900EX/EASy 2 2 ERJ135ER/LR 1 1 2 Legacy 650 1 2 3 +1 Lineage 1000 1 1 Hawker 800A/B/850XP/XPI/125-1A 1 1 Total 11 9 4 4 4 32 Change from 2014 +2 +1 +1 +4*

* include one Citation CJ2/+ which left India

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 77 78 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Thailand – 16 Operators in Total • 4 Operators shown represent 58% of the fleet • 2 Operators - 2 aircraft each • 10 Operators - 1 aircraft each

8 4 4 3 MJETS AC Aviation AC Royal Air Force Royal Gov’t of Thailand Gov’t Siam Land Flying Change Total from 2014 ACJ319 1 1 ACJ320 1 1 BBJ2 1 1 B737-400 1 1 Global Express XRS 1 1 Citation CJ3 1 1 Citation S/II/Bravo/II/SP 2 2 +1 Citation X/+ 1 1 Falcon 2000LX/LXS 1 1 Gulfstream G200 2 2 Gulfstream G550 1 1 +1 Gulfstream V 1 1 Hawker 400/A/B/Diamond I 2 2 Hawker 800A/B/850XP/XPI/125-1A 2 1 3 Total 8 4 4 3 19 Change from 2014 +2 +2

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 79 ASIA PACIFIC REGION Philippines – 28 Operators in Total • 5 Operators shown represent 45% of the fleet • 4 Operators - 2 aircraft each • 19 Operators - 1 aircraft each

8 4 4 3 3 Lionair Metrojet Subic Int'l Air Charter Royal Star Aviation Royal Challenger Aero Air Challenger Aero

Change Total from 2014 Challenger 300/350 1 1 CRJ100/200/VIP 1 1 Learjet 35/A/36/A 1 1 Learjet 40 1 1 Learjet 75 1 1 +1 Citation 500/I/SP 1 1 Citation Excel/XLS/+ 1 1 2 Dornier 328JET 1 1 Falcon 900/C/DX 1 1 Gulfstream G200 1 1 Gulfstream G300/G350 1 1 +1 Gulfstream G450 1 1 Gulfstream G550 1 1 Gulfstream IV/IV-SP 1 1 2 Hawker 700A/B/750 1 1 2 Hawker 800A/B/850XP/XPI/125-1A 3 3 Westwind 1/2 1 1 Total 8 4 4 3 3 22 Change from 2014 -1 +1

80 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Malaysia – 34 Operators in Total • 6 Operators shown represent 39% of the fleet • 28 Operators - 1 aircraft each

4 4 3 3 2 2 Gov’t of Gov’t Air Alsie Execujet Malaysia Berjaya Air Berjaya TAG Aviation TAG Smooth Route Smooth Change Total from 2014 ACJ319 1 1 Challenger 300/350 1 1 Global 5000 1 1 2 +1 Global Express XRS 2 2 Learjet 60/XR 2 2 Citation S/II/Bravo/II/SP 2 2 Citation Sovereign/+ 2 2 Falcon 7X 1 1 Falcon 900LX 1 1 Gulfstream G200 1 1 Gulfstream G450 1 1 Gulfstream IV/IV-SP 1 1 2 Total 4 4 3 3 2 2 18 Change from 2014 +1 +1

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 81 ASIA PACIFIC REGION Singapore – 34 Operators in Total • 6 Operators shown represent 44% of the fleet • 7 Operators - 2 aircraft each • 21 Operators - 1 aircraft each 7 6 5 4 3 3

Jet Pacific Hawker Execujet Services Precious Company Change Total TAG Aviation TAG Pacific Flight Pacific Asia Aviation from 2014 ACJ319 1 1 +1 Challenger 300/350 1 2 3 +1 Challenger 605 1 2 1 4 Global 5000 3 1 4 +1 Global 6000 1 1 2 +1 Learjet 35/A/36/A 2 2 Learjet 45/XR 1 1 Learjet 60/XR 1 2 3 Legacy 600 2 2 +2 Gulfstream G100/G150 1 1 Gulfstream G450 1 1 2 +1 Gulfstream G550 1 1 Gulfstream III 1 1 Gulfstream V 1 1 +1 Total 7 6 5 4 3 3 28 Change from 2014 +2 +1 +2 +3 +8 Indonesia – 31 Operators in Total • 4 Operators shown represent 33% of the fleet • 8 Operators - 2 aircraft each 8 • 19 Operators - 1 aircraft each 3 3 3 Jet

Pacific Change Hawker Hawker Gov’t of Gov’t Aviation Premiair Total from 2014 Indonesia BBJ2 1 1 Global 5000 1 1 2 +2 Global 6000 1 1 +1 Global Express XRS 1 1 Learjet 31/A 2 2 Falcon 2000LX/LXS 1 1 +1 Legacy 600 2 2 Legacy 650 2 1 3 +1 Lineage 1000 1 1 Phenom 300 1 1 2 Gulfstream G550 1 1 Total 8 3 3 3 17 Change from 2014 +2 +2 +4* * include one BBJ which left Indonesia 82 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Australia – 105 Operators in Total • 5 Operators shown represent 21% of the fleet • 1 Operator - 5 aircraft • 4 Operators - 4 aircraft each • 8 Operators - 3 aircraft each • 14 Operators - 2 aircraft each • 73 Operators - 1 aircraft each 10 8 7 7 6 Pel-Air Aviation Revesco Execujet Aviation Air Affair Australia (Australia) Change Flight Options Total from 2014 Challenger 600/601 1 1 Challenger 604 3 3 Global 6000 1 1 +1 Global Express XRS 3 3 Learjet 35/A/36/A 4 6 10 Citation III/VI/VII 1 1 2 Citation Mustang 4 4 +2 Citation S/II/Bravo/II/SP 1 2 3 Citation Ultra/V 1 1 Phenom 100 3 3 Gulfstream IV/IV-SP 1 1 Westwind 1/2 6 6 Total 10 8 7 7 6 38 Change from 2014 +1 +2 +3

New Zealand – 10 Operators in Total • 2 Operators shown represent 33% of the fleet • 8 Operators - 1 aircraft each 2 2 Pacific Jets Pacific

Air Hawkes Bay Air Hawkes Change Total from 2014

Citation CJ4 1 1 Citation Mustang 2 2 +1 Westwind 1/2 1 1 Total 2 2 4 Change from 2014 +1 +1

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 83 Gulfstream has a long history of seeking the best range cruise speed of Mach 0.8, frequent flyers in the combination of speed, comfort and efficiency to meet G600 will save hours of flying time per year. The G600 customer’s demands. In the newly crafted G600, also maximizes efficiency with an advanced wing design Gulfstream’s goal was to combine new wing technology and a pair of Pratt & Whitney Canada engines, which and airframe advances, new engines and a uniquely can operate for 10,000 hours between overhauls. shaped cabin to transport travelers 11,482 kilometers These engines feature greatly reduced noise levels at a speed of Mach 0.85, faster than any aircraft in its and emissions, which ultimately lower operating costs class. And Gulfstream intended to do all that without and ensure the aircraft will continue to conform to sacrificing fuel efficiency or passenger comfort. environmental standards.

The G600 has certainly risen to the challenge. With a The G600’s cabin is 2.41 meters wide and 1.93 meters maximum operating speed of Mach 0.925 and a long- high, the optimal size and shape to promote a balance

84 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 of speed and efficiency. The G600 can be configured with up to PERFORMANCE four living areas in its 13.77 meter long cabin, offering options for either a forward or aft galley, and even the possibility of a Maximum Range: 6,200 nm / 11,482 km shower. The 68.5 centimeter wide seats offer plenty of space High-Speed: Mach 0.90 / 516 ktas to spread out, and the divans and seats can all be converted to Long-Range: Mach 0.85 / 488 ktas beds for sleeping. Conference tables can be added for meetings or dining. There are 10 individual cabin designs for living areas Maximum Operating Speed: Mach 0.925 that owners can opt for, making the jet completely configurable Takeoff Distance(SL, ISA, MTOW): 5,700 ft / 1,737 m for a variety of needs, including work, leisure, dining, or sleep. Landing Distance(SL, ISA, MLW): 3,100 ft / 945 m Initial Cruise Altitude: 41,000 ft / 12,497 m Maximum Cruise Altitude: 51,000 ft / 15,545 m

WEIGHTS Maximum Takeoff: 91,600 lb / 41,549 kg Maximum Landing: 76,800 lb / 34,836 kg Maximum Zero Fuel: 57,440 lb / 26,054 kg Basic Operating (including 3 crew): 51,440 lb / 23,333 kg Maximum Payload: 6,000 lb / 2,722 kg Payload with Maximum Fuel: 1,800 lb / 816 kg Maximum Fuel: 38,760 lb / 17,581 kg

EXTERNAL Length: 96 ft 1 in / 29.29 m Overall Span: 95 ft / 28.96 m Height: 25 ft 3 in / 7.70 m

The cabin can also be designed to reflect the owner’s unique style, choosing from hand-woven rugs, bamboo flooring, and a INTERNAL wide variety of colors for the upholstery. High definition monitors Total Interior Length: 51 ft 3 in / 15.62 m serve both business and entertainment needs, while satellite Cabin Length (excluding baggage): 45 ft 2 in / 13.77 m communications and the optional Broadband Multilink (BML) high-speed data system make staying in touch a breeze. Cabin Height: 6 ft 4 in / 1.93 m Cabin Width: 7 ft 11 in / 2.41 m The Gulfstream Cabin Management System gives travelers Cabin Volume: 1,884 cu ft / 53.35 cu m control of lighting, window shades, temperature and Baggage Compartment (usable volume):175 cu ft / 4.96 cu m entertainment through touchscreen devices. The G600 is engineered to provide a quiet journey, keeping the air fresh and atmosphere serene with its low cabin altitude. The cabin is so DESIGN STANDARDS quiet passengers can converse in normal voices, even when Avionics: Gulfstream Symmetry Flight Deck™ flying near the speed of sound. Engines: Two Pratt & Whitney Canada PW815GA The Gulfstream G650, from which the G600 was developed, has Rated Takeoff Thrust (each): 15,680 lb / 69.75 kN long been a favorite in its class of business jet. With the release Passengers (Typical Outfitting): Up to 19 / 4 Crew of the newer, better G600, customers are sure to be that much more impressed by its perfect blend of comfort, speed, and efficiency.

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 85 ASIA PACIFIC

86 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 2015 OVERVIEW: FLEET AGE & REGISTRATION

The vast majority (63.2%) of the business jets in the Asia Pacific region were manufactured in 2006 or later i.e. are 10 years old or less. Only Cessna, Bombardier and Boeing have more than 30% of their Asia Pacific Region fleet which is older than 10 years old. 55% of Cessna’s fleet is older than 10 years, 40% of Bombardier’s and 36% of Boeing’s.

The business jet fleet in Greater China is very young – 87% of the aircraft based in Hong Kong are less than 10 years old and 78% of the aircraft based in Mainland China are less than 10 years old. For Japan, the percentage less than 10 years old is 87%, Taiwan 73%, South Korea 70% and New Zealand 67%, which also illustrates the newness of business aviation in these various markets.

Looking at the average age of markets and fleets, Hong Kong has the youngest fleet with an average year of manufacture (YOM) of 2010 and Australia has the oldest with an average YOM of 1997. For the OEMs, Embraer has the youngest fleet with an average YOM of 2010 and Cessna has the oldest fleet with an average YOM of 2001.

The top 4 registrations in the Asia Pacific region are China, the USA, Australia and India. Not including the US, the top registrations match the top business jet markets, with 23% of the Asia Pacific Region fleet being Chinese registered, 14% Australian and 13% Indian.

However, a US registration (“N” registered aircraft) is still the most popular with aircraft based in 15 countries across the Asian Pacific region. The next most popular foreign registries are Cayman, Isle of Man and Bermuda. The appeal of these registration are their low costs, ease of registration and operation flexibility.

ASIA PACIFIC REGIONBUSINESS BUSINESS JET FLEET JET REPORT FLEET REPORT– YEAR END – YEAR 2015 END 2015 87 ASIA PACIFIC REGION

Fleet Age Distribution – Asia Pacific 1,134 Total

100

90

80

70

60

50

40

30

20

10

0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

88 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Age Distribution by OEM by Year of Manufacture

Airbus – 34 in Total

20 15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Boeing – 33 in Total

20 15 10 5 0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

Bombardier – 306 in Total

30 25 20 15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Cessna – 220 in Total

20 15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 2015 1981 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 89 ASIA PACIFIC REGION

Dassault – 91 in Total

20 15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Embraer – 69 in Total

20 15 10 5 0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

Gulfstream – 264 in Total

45 40 35 30 25 20 15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Hawker – 98 in Total

20 15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 2015 1981 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

90 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Age Distribution by Region by Year of Manufacture China – 300 in total

60

50

40

30

20

10

0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

Hong Kong – 132 in total

20

10

0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 2015 1981 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 91 ASIA PACIFIC REGION

Taiwan – 22 in Total

5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Macau – 12 in Total

5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Japan – 49 in Total

5 0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

South Korea – 20 in Total

5 0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

India – 145 in Total

20 15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Thailand – 33 in Total

5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 2015 1981 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

92 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION

Philippines – 49 in Total

5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Malaysia – 46 in Total

5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

Indonesia – 52 in Total

10 5 0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

Singapore – 63 in Total

10 5 0 1974 1971 1976 1977 1978 1979 1997 1970 1972 1973 1975 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1965 1966 1967 1968 1969 1984 2000 2002 2003 2004 2005 2006 2008 2009

Australia – 184 in Total

15 10 5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 1981 2015 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

New Zealand – 12 in Total

5 0 1974 1971 1976 1977 1970 1972 1973 1975 1978 1979 1997 2010 2014 2007 2011 1991 1987 2015 1981 2013 2001 2012 1994 1965 1966 1967 1968 1969 1980 1982 1983 1985 1986 1988 1989 1990 1992 1993 1995 1996 1998 1999 1984 2000 2002 2003 2004 2005 2006 2008 2009

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 93 ASIA PACIFIC REGION FLEET REGISTRATIONS – ASIA PACIFIC REGION USA (N) Japan (JA) (HL) South Korea India (VT-) Bangladesh (S2-) (B-XXXXX) Taiwan (B-K/B-LXX) Hong Kong Macau (B-MXX) China (B-XXXX) Philippines (RP-C) Thailand (HS-) (XY,XZ) Myanmar Guinea (P2-) New Papua Indonesia (PK-) (9M-) Malaysia Brunei (V8-)

10 (20%) 39 (80%)

Japan 20 (100%)

South Korea 147 (97%) 2 (1%) India

1 (33%) Bangladesh

3 (100%) 254 (85%) Brunei 28 (9%) 1 China

8 (67%) 1 (8%) Macau 7 (32%) 13 (59%) 1 (5%) Taiwan 24 (18%) 49 (37%) 4 (3%) 1 (1%) Hong Kong

1 (100%) Myanmar 27 (82%) 5 (15%)

Base Country Thailand

2 (67%) Cambodia 13 (28%) 22 (48%) 2 (4%) 1 (2%) Malaysia 37 (73%) 10 (20%) 1 (2%) Philippines 36 (57%) 1 (2%) 1 (2%) Singapore 32 (62%) 13 (25%) Indonesia

3 (100%) Papua New Guinea 24 (13%)

Australia 4 (33%) New Zealand

New Caledonia

1 (100%) Samoa

% of fleet 19% 3% 2% 13% 1% 3% 23% 3% 2% 3% 1%

94 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION Singapore (9V-) Bermuda (VP-B, VQ-B) Islands (VP-C) Cayman Isle of Man (M-) (OE-) Austria Aruba (P4-) Canada (C-) (OY-) Denmark Finland (OH-) (F-) France (LX-) Luxemberg Malta (9H-) (VH-) Australia Zealand (ZK-) New San Marino (T7-)

Japan

South Korea

1 (1%) 1 (1%) India

2 (67%) Bangladesh

Brunei 6 (2%) 8 (3%) 1 2 (1%) China

1 (8%) 1 (8%) 1 (8%) Macau

1 (5%) Taiwan Base Country 33 (25%) 11 (8%) 4 (3%) 1 (1%) 1 (1%) 1 (1%) 3 (2%) Hong Kong

Myanmar

1 (3%) Thailand

1 (33%) Cambodia

3 (7%) 2 (4%) 2 (4%) 1 (2%) Malaysia

1 (2%) 1 (2%) Philippines 1 (2%) 6 (10%) 1 (2%) 4 (6%) 9 (14%) 1 (2%) 2 (3%) 1 (2%) Singapore

1 (2%) 4 (8%) 2 (4%) Indonesia

Papua New Guinea 153 (83%) 1 (1%) 1 (1%) 2 (1%) 3 (2%) Australia 8 (67%) New Zealand

1 (100%) New Caledonia

Samoa

2% 4% 2% 1% 14% 1% % of fleet

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 95 ASIA PACIFIC REGION

Popular Aviation Registrations – Asia Pacific Region Characteristics Comparison

Country Cost of Time for Effective Ease Sale Value New AC Type Crew International of Registering Registration Import of Attractiveness Delay Licensing Operational Registration an Aircraft (Weeks) Taxes Financing Internationally (Months) & Training Flexibility

AUSTRALIA Average Reasonable Low Good Good Reasonable Difficult Good

AUSTRIA Medium Short None Good Good Short Medium Medium

BERMUDA Average Reasonable None Good Good Short Easy Reasonable

CAYMAN ISLANDS Average Reasonable None Good Good Short Easy Reasonable

CHINA Average Very Long Very High Mostly Local Medium Very Long Very Difficult Medium

HONG Expensive Very Long None Good Good Long Difficult Medium KONG

INDIA Medium Long High Mostly Local Medium Long Very Difficult Medium

INDONESIA Average Long High Restricted Low Reasonable Difficult Low

ISLE OF Average Reasonable None Good Good Short Reasonable Reasonable MAN

JAPAN Expensive Long Medium Good Good Long Very Difficult Medium

KOREA Medium Medium None Reasonable Good Reasonable Medium Medium

MALTA Reasonable Reasonable None Good Good Short Reasonable Medium

MALAYSIA Average Reasonable High Mostly Local Good Medium Medium Medium

NEW Reasonable Reasonable None Good Good Reasonable Medium Good ZEALAND

PHILIPPINES Reasonable Reasonable High Restricted Low Medium Difficult Reasonable

TAIWAN Reasonable Reasonable None Good Reasonable Long Medium Medium

THAILAND Reasonable Medium Medium Mostly Local Reasonable Reasonable Reasonable Reasonable

USA Average Short None Good Good Short Easy Good

Applicable tax rates & regulations may change without notice and vary depending on the structure of the transaction, the timing and place of entering into agreements. It is therefore advised to retain professional advice before entering into any transaction.

96 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 97 ASIA PACIFIC SUPPORT INFRASTRUCTURE BY OEM

Airbus Maintenance Service Centres – Asia Pacific Region Line Heavy Spare Facility Location Aircraft Model Maintenance Maintenance Parts Refurbishment Beijing Support Service Centre Beijing, China ● AMECO Beijing, China ACJ318/319 ● HNA Aviation Technik Haikou, China ACJ318/319/320 ● ● China Eastern Technik Shanghai, China ACJ318/319/320 ● ● STARCO Shanghai, China ACJ318/319/320 ● ● STAECO Jinan, China ACJ318/319/320 ● ●

ACJ318/319/320/ HAECO Xiamen, China 321/330/340 ● ● ● ●

HAECO Hong Kong ACJ319/320 ● ● CASL Hong Kong ● ● ● EVA Air - Evergreen Aviation Technologies Taoyuan, Taiwan ACJ318/319/320 ● ● Airbus India New Delhi, India ACJ318/319/320 Airworks Mumbai, India ACJ320 ● ● ● Indamer Aviation Mumbai, India ACJ320 ● ● Lufthansa Technik Philippines Philippines ACJ319/320 ● ● Sepang Engineering Sepang, Malaysia ACJ318/319/320 ● ● ● ● ST Aerospace Singapore ACJ318/319/320 ● ● SIA Engineering Singapore ACJ318/319/320 ● ● AMSA Pinkenba, Australia ACJ319/320 ● ● Air New Zealand Auckland, New Zealand ACJ320 ● ● Hamilton Aero Maintenance Hamilton, New Zealand ACJ320 ● ● OEM Training Centres Worldwide

Hamburg, Germany

Toulouse, France Beijing, China

Miami, Florida, USA

Bangalore, India

98 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 Boeing Maintenance Service Centres – Asia Pacific Region Line Heavy Spare Facility Location Aircraft Model Maintenance Maintenance Parts Refurbishment Beijing Spare Distribution Centre Beijing, China BBJ/BBJ2 ● Boeing Shanghai Aviation Service Co. Shanghai, China BBJ/BBJ2 ● ● ● AMECO Beijing, China BBJ/BBJ2 ● ● STARCO Shanghai, China BBJ ● STAECO Jinan, China BBJ ● BBJ/BBJ2/BBJ3/ HAECO Xiamen, China BBJ777/BBJ747-8/ ● ● ● ● BBJ787 HAECO Hong Kong BBJ/BBJ2 ● ● SMECO Chengdu, China BBJ ● Airworks Mumbai, India BBJ ● ● Indamer Aviation Mumbai, India BBJ ● ● Jet Aviation Singapore BBJ/BBJ2 ● ● ST Aerospace Singapore BBJ/BBJ2 ● ● SIA Engineering Singapore BBJ/BBJ2 ● ● AMSA Pinkenba, Australia BBJ ● ● Airwork Flight Operations Brisbane, Australia BBJ ● ● Air New Zealand Auckland, New Zealand BBJ ● ●

OEM Training Centres Worldwide

Stockholm, Sweden London Gatwick, UK Seattle, Washington, USA Istanbul, Turkey Incheon, South Korea Atlanta, Georgia, USA Gimpo, South Korea Casablanca, Morocco Shanghai, China Miami, Florida, USA Mexico City, Mexico

Singapore

Buenos Aires, Argentina

Brisbane, Australia Sydney, Australia Melbourne, Australia

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 99 Bombardier Maintenance Service Centres – Asia Pacific Region Line Heavy Spare Facility Location Aircraft Model Maintenance Maintenance Parts Refurbishment Beijing Airlines Beijing, China Learjet, Challenger and Global ● Shanghai Hawker Pacific Shanghai, China Global ● Learjet 60, Challenger 300, ExecuJet Haite Tianjin, China Challenger 605, Global ● Metrojet Hong Kong Challenger 300, Challenger 800, Global ● ● JAMCO Sendai, Japan Global ● Learjet 60, Challenger 300, Airworks Mumbai, India Challenger 605, Global ● ● ● Indamer Aviation Ahmadabad, India Global ● Kuala Lumpur, Challenger 300, Challenger 605, ExecuJet Malaysia Malaysia Challenger 800, Global ● ● Bombardier Service Centre Singapore Learjet, Challenger and Global ● ● ● ● ExecuJet Australia Sydney, Australia Learjet 40/45, Challenger 605, Global ● ● ● ExecuJet Australia Melbourne, Australia Challenger 605, Global ● ●

OEM Training Centres Worldwide

Amsterdam, Netherlands

Montreal, Canada Burgess Hill, West Sussex, UK Morristown, New Jersey, USA Dallas, Texas, USA

Dubai, UAE Toluca, Mexico

100 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 101 Cessna Maintenance Service Centres – Asia Pacific Region

Line Heavy Spare Facility Location Aircraft Model Maintenance Maintenance Parts Refurbishment Citaiton Excel/ XLS, Citation Sovereign, Beijing Dingshi GA Beijing, China Citation X ● ● China Flight GA Xi'an, China Citation Excel/XLS/+ ● ● Citation Sovereign, Hawker Shanghai Hawker Pacific Shanghai, China 750/800/850/900, Hawker 4000 ● ● Okayama Air Service Okayama, Japan All Citation aircraft ● ● Airworks Mumbai, India Citation CJ1+, Citation CJ2/+ ● ● Mjets Bangkok, Thailand All Citation aircraft ● ● Kuala Lumpur, SR Aviation Malaysia Citation Bravo, Citation Sovereign ● ● Cessna Service Centre Singapore All Citation and Hawker aircraft ● ● ● ●

Hawker Pacific Asia Singapore Hawker 400XP, Hawker 700/750, Hawker 800A/B, Hawker 850XP, Hawker 900XP ● ● Bankstown, Aus- Aeromil Pacific tralia All Citation aircraft ● ● Airflite Jandakot, Australia All Citation aircraft ● ● Citation I, Citation II, Citation III, Hawker ExecuJet Australia Sydney, Australia 400XP, Hawker 700/750, Hawker 800A/ ● ● B, Hawker 850XP, Hawker 900XP Citation I, Citation II, Citation III, Hawker ExecuJet Australia Melbourne, 400XP, Hawker 700/750, Hawker 800A/ ● ● Australia B, Hawker 850XP, Hawker 900XP Citation I, Citation II, Citation III, Hawker ExecuJet Australia Perth, Australia 700/750, Hawker 800A/B, Hawker ● ● 850XP, Hawker 900XP

OEM Training Centres Worldwide

Fairbanks, Alaska, USA Antwerp, Belgium British Columbia, Canada Hradec Kralove, Czech Republic Aurora, Oregon, USA Snohomish, Washington, USA Gig Harbor, Washington, USA Zurich, Switzerland Creswell, Oregon, USA Bend, Oregon, USA Seosan, South Korea Kapolei, Hawaii USA Maui, Hawaii, USA Riyadh, Saudi Arabia

New South Wales, Australia

102 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 Embraer Maintenance Service Centres – Asia Pacific Region

Line Heavy Spare Facility Location Aircraft Model Maintenance Maintenance Parts Refurbishment STAECO Jinan, China Legacy 600/650, Lineage 1000 ● ● Embraer China Aircraft Technical Services Beijing, China All Embraer models ● ExecuJet Haite Tianjin, China Legacy 600/650, Lineage 1000 ● China Eastern Shanghai, China Legacy 600/650 ● Metrojet Hong Kong Legacy 600/650, Lineage 1000 ● Indamer Aviation New Delhi, India Legacy 600/650, Lineage 1000 ● ● Indamer Aviation Mumbai, India Legacy 600/650 ● Indamer Aviation Hyderabad, India Legacy 600/650 ● Airworks Mumbai, India Phenom 100/300 ● Phenom 100/300, Legacy 600/650, Airworks Hosur, India Lineage 1000 ● ● Airworks Chennai, India Phenom 100, Legacy 600/650 ● Phenom 100/300, Legacy 500, Legacy Hawker Pacific Asia Singapore 600/650, Lineage 1000 ● ● ExecuJet Singapore Singapore Legacy 600 ● Jakarta, WJA Aviation Indonesia Legacy 600/650 ● Phenom 100/300, Legacy 500, Legacy ExecuJet Australia Sydney, Australia 600/650, Embraer 135/145 ● Melbourne, Phenom 100/300, Legacy 600/650, Em- ExecuJet Australia Australia braer 135/145 ● Phenom 100/300, Legacy 600/650, Em- ExecuJet Australia Perth, Australia braer 135/145 ● Airflite Perth, Australia Phenom 100 ●

OEM Training Centres Worldwide

Paris, France St. Louis, Missouri, USA Longbeach, California USA Atlanta, Georgia, USA Houston, Texas, USA

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 103 Falcon Maintenance Service Centres – Asia Pacific Region

Line Heavy Spare Facility Location Aircraft Model Maintenance Maintenance Parts Refurbishment Beijing Capital Airlines Beijing, China Falcon 7X ● ● Spares Depot - Beijing Beijing, China All Falcon Aircraft ● Falcon DX/EX/EX EASy/LX, Shanghai Hawker Pacific Shanghai, China Falcon 2000DX/EX EASy/LX/LXS/S, ● ● Falcon 7X Jet Aviation Hong Kong Falcon 900DX/EX EASy/LX, Falcon 7X ● ● Spares Depot - Hong Kong Hong Kong All Falcon Aircraft ● Ligare Aviation Engineering New Delhi, India Falcon 7X ● Airworks Mumbai, India Falcon DX/EX/LX, Falcon 900EX EASy ● Taj Air Metrojet Aviation Mumbai, India Falcon 2000/DX/EX/EX EASy/LX/LXS/S ● ● Siddhartha Logistics Mumbai, India All Falcon Aircraft ● Falcon 10, Falcon 20/20-5, Falcon 50/EX, Falcon 200, Hawker Pacific Asia Singapore Falcon 900/DX/EX/ EX EASy/LX, ● ● ● ● Falcon 2000/DX/EX/EX EASy/LX/LXS/S, Falcon 7X Falcon 10, Falcon 20/20-5, Falcon 50/EX, Falcon 200, Hawker Pacific Pty Bankstown, Falcon 900/DX/EX/ EX EASy/LX, ● ● ● Australia Falcon 2000/DX/EX/EX EASy/LX/LXS/S, Falcon 7X Falcon 20, Falcon 50/EX, Falcon 900EX/EX ExecuJet Australia Sydney, Australia EASy/DX ● ● Melbourne, Falcon 20, Falcon 50/EX, Falcon 900EX/EX ExecuJet Australia Australia EASy/DX ● ● Falcon 20, Falcon 50/EX, Falcon 900EX/EX ExecuJet Australia Perth, Australia EASy/DX ● ●

OEM Training Centres Worldwide

West Sussex, UK Bordeaux, France Merignac, France Colombus, Ohio, USA Wilmington, Delaware, USA Whippany, New Jersey, USA Little Rock, Arkansas, USA Teterboro, New Jersey, USA Fort Worth, Texas, USA Dallas, Texas, USA Dubai, UAE

104 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 Gulfstream Maintenance Service Centres – Asia Pacific Region

Line Heavy Spare Facility Location Aircraft Model Maintenance Maintenance Parts Refurbishment Gulfstream Service Centre Beijing, China G-V, G200, G280, G450, G550 ● ● ● ● STAECO Jinan, China G450 ● ● G-V, G-IV/GIV-SP, G100, G150, G200, Metrojet Hong Kong ● ● G300, G350, G450, G550, G650 G-IV/GIV-SP, G100, G150, G200, G300/ Jet Aviation Hong Kong ● G400, G450, G500/550, G650 G-V, G-IV/GIV-SP, G300/G400, G500/ JAMCO Sendai, Japan ● ● G550 G-V, G-IV/GIV-SP, G100, G200, G300/ Airworks Mumbai, India ● ● G400, G450, G500/G550 Kuala Lumpur, ExecuJet Malaysia Malaysia G-IV, G200, G450 ● ● G-V, G-IV/GIV-SP, G100, G150, G200, Jet Aviation Pte Singapore ● ● G280, G300/G400, G450, G500/G550 G-V, G-IV, G300/G350, G450, G550, ExecuJet Australia Sydney, Australia ● ● G650 G-V, G-IV, G300/G350, G450, G550, ExecuJet Australia Melbourne, ● ● Australia G650 ExecuJet Australia Perth, Australia G-V, G-IV, G300/G350, G450, G550 ● ● Wellington, ExecuJet Australia Australia G550, G650 ● ●

OEM Training Centres Worldwide

Farnborough, Hants, UK Colombus, Ohio, USA Dallas, Texas, USA Wilmington, Delaware, USA

Long Beach, California, USA Savannah, Georgia, USA Hong Kong

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 105 106 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 FIXED-BASE OPERATORS (FBO) – ASIA PACIFIC REGION

IASS AVJET Asia Flightrans Jet Okayama Okayama Air Service AA Corporation Seoul Kobe Kobe Air Center Nakanihon Air Service Nagoya Chubu Centrair Business Aviation Terminal Fuji Dream Aviation Engineering C-jet FBO Beijing Shizuoka IASS Aero Asahi Narita Premier Gate Business Aviation Terminal

Shanghai Hawker Pacific Business Aviation Centre Shanghai Shaurya Aeronanutics Shenzhen Business Aviation Terminal Shenzhen Deer Jet Changsha Macau Business Aviation Centre Macau Deer Jet FBO New Haikou Delhi Eva Sky Jet Centre Taiwan Taoyuan Business Aviation Centre ASE Handling Pattaya Taipei Executive Aviation FBO Mumbai MJets Royal Skyways Bangkok Hong Kong Hong Kong Business Aviation Centre Celebi Airport Services Sanya Deer Jet

SkyPark Bali ExecuJet Indonesia AeroHandlers Execujet Smooth Route Sydney Hawker Pacific Nusantara Aviation Services Kuala Lumpur Jet Aviation Wings Over Asia Platinum Business Aviation Center Hawker Pacific Asia Gold Coast Singapore IndoAsia Ground Services Jarkarta

Contrails Hawker Pacific Brisbane Jet Base Archerfield Jet Base Airflite Brisbrane Hawker Pacific Perth Hawker Pacific Calms

Execujet Avia JetCity Ausjet Blue Demon Aviation Melbourne

Air Center One SkyCare International Auckland

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 107 108 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 Financing Institutions Name Office Location Finance Lease Operating Lease CIT International ● ● BNP Paribas International ● UBS International ● Citi Bank International ● Bank of America International ● ● Credit Suisse International ● Goldman Sachs International ● Global Jet Capital International ● ● SMBC Aviation Capital International ● ● Wells Fargo Bank Northwest, N.A. International ● LaserLine Lease Finance Corporation International ● Minsheng Bank China ● ● ICBC China ● Bank of China (BOC Aviation) China ● Industrial Bank China ● ● China Development Bank China ● China Merchants Bank China ● ● Agriculture Bank of China China ● ● Changjiang Leasing China ● ● AVIC Leasing China ● Shanghai Guojin Leasing China ● Anbang Insurance China ● China Huarong Financial Leasing China ● CITIC Futong China ● China Trust Taiwan ● Chailease Finance Taiwan ● ● ITC-Leasing, Inc. Japan ● ● Sumitomo Mitsui Finance and Lease Co., Ltd Japan ● Capital Finance Australia ● MACQUARIE Australia ● Westpac Australia ● ANZ Australia ● Commonwealth Bank of Australia Australia ● ● National Australia Bank Australia ● Legal Firms Involving an experience lawyer or law firm in the early stages of an aircraft sales and purchase is key to minimise both costs and potential problems relating to the aircraft for the long run. Aircraft transactions are complicated and involve a sizable number of documents, including sales and purchase agreement, financing agreement, aircraft management agreement, and all specification, registration, and importation documents, just to name a few. Due to the unique nature of aircraft transactions, industry experts and specialists in both the legal and commercial aspects of transactions will be needed to scrutinise each transaction to ensure that seller or buyer’s legal interests are best protected and the best commercial terms are obtained.

ASG iaises with top law firms when legal services are required, and thereby ensures a smooth transaction both legally andcommercially.

Law Firm Region Law Firm Region Herbert Smith Freehills Australia Shook Lin & Bok Indonesia Allens Australia Makarim & Taira S. Indonesia Minter Ellison Australia Bae, Kim & Lee Korea Allen & Overy LLP Australia Kim & Chang Korea King & Wood Mallesons Australia and China Lee & Ko Korea Run Ming Law Offices China Yulchon LLC Korea Jun He Law Offices China Yoon & Yang LLC Korea Clifford Chance Hong Kong Bell Gully New Zealand Clyde & Co Hong Kong Chapman Tripp New Zealand Bird & Bird Hong Kong Russell McVeagh New Zealand Holman Fenwick William Hong Kong Appleby Offshore Mayer Brown JSM Hong Kong Bedell Cristin Offshore Stephenson Harwood Hong Kong Carey Olsen Offshore William K K Ho & Co. Hong Kong Conyers Dill & Pearman Offshore Lee and Li Taiwan Harney Westwood & Riegels Offshore Tsar & Tsai Law Firm Taiwan Maples and Calder Offshore Bhasin & Co India Mourant Ozannes Offshore Wadia Ghandy & Co India Walkers Offshore Gagrats India SyCip Salazar Hernandez & Gatmaitan Philippines Mulla & Mulla & Craigie Blunt & Caroe India Hogan Lovells Singapore Anderson Mori & Tomotsune Japan Milbank Singapore Nagashima Ohno & Tsunematsu Japan Watson Farley & Williams Singapore and Hong Kong Nishimura & Asahi Japan Siam Premier Thailand Squire Sanders Japan ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 109 INTERIOR COMPLETION CENTRES

Elliott Aviation

Gulfstream Completion Centre

Standard Aero Associated Air Centre Embraer Completion Centre Flying Colours Cascade Aerospace Jet Aviation Flying Colours Duncan Aviation Innotech Aviation Hillaero Modification Centre Bombardier Aerospace Asociated Air Center

Canada Bombardier Aerospace USA

Comlux Completion

PATS Aircraft Systems

Greenpoint Technologies

Cessna Completion Centre

Aeria Luxury Interiors

GDC Technics

L-3 Platform Integration

Aloft AeroArchitects Embraer Completion Centre Brazil Dassault Falcon Jet

New Zealand Altitude Aerospace Interiors

110 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 Fokker Air Services

Kvand Aircraft Interiors Lufthansa Technik Russia

Germany Netherlands

Switzerland France Italy

Delta Interior Design

HAECO SR Technics China Amac Aerospace

Jet Aviation

Airbus Corporate Jet Centre

JCB Aero Singapore Sabena Technics Flying Colours

Air France Industries ST Aerospace

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 111 OEM Completion Centres

NAME AIRCRAFT CAPABILITIES Airbus Corporate Jet Centre Airbus ACJs Bombardier Aerospace Bombardier Dassault Falcon Jet Falcon Embraer Completion Centre Embraer Gulfstream Service Centres Gulfstream Cessna Completion Centre Cessna

Independent Completion Centres

NAME AIRCRAFT CAPABILITIES Aeria Luxury Interiors Airbus ACJs, Boeing BBJs Altitude Aerospace Interiors Boeing BBJs AMAC Aerospace Boeing BBJs, Airbus ACJs Associated Air Center Boeing BBJs Air France Industries Boeing BBJs Aloft AeroArchitects Boeing BBJs Cascade Aerospace Boeing BBJs Comlux Completion Airbus ACJs, Boeing BBJs Delta Interior Design Airbus ACJs, Boeing BBJs Duncan Aviation Falcon, Gulfstream, Global, Challenger, Hawker, Learjet, Citation, Embraer, King Air, Astra, Westwind Elliott Aviation Hawker, Beechjet, Bombardier Fokker Aircraft Services B.V. Boeing BBJs Flying Colours Corporation Bombardier Learjet, Challenger and Global GDC Technics Boeing BBJs, Airbus ACJs Greenpoint Technologies Boeing BBJs Innotech Aviation Bombardier Challenger and Global HAECO Hong Kong Boeing BBJs HAECO Xiamen Airbus ACJs, Boeing BBJs Hillaero Modification Centre Learjet, King Air, Citation, Pilatus, Hawker, Beechjet, Diamond, Falcon, TBM, Meridian, Westwind JCB Aero Airbus ACJs, Boeing BBJs Jet Aviation Airbus ACJs, Boeing BBJs, Bombardier, Gulfstream, Falcon, Hawker L-3 VIP/HOS Platform Integration Airbus ACJs, Boeing BBJs, Gulfstream, Lockheed Lufthansa Technik Airbus ACJs, Boeing BBJs PATS Aircraft Systems Boeing BBJs, Embraer Sabena Technics Airbus, ATR, Boeing, Bombardier, Embraer, Fokker SR Technics Airbus ACJs, Boeing BBJs ST Aerospace Airbus ACJs, Boeing BBJs Standard Aero Associated Air Centre Airbus ACJs, Boeing BBJs

112 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 113 Flying Colours Corp. has built an international reputation since founder John Gillespie repainted his first King Air just over thirty years ago. It is now a global Eric Gillespie, aviation company providing a service led by the core philosophies of technical Vice President innovation, business integrity and service flexibility. This has underpinned the work ethic at the family owned-and-run business. At its Peterborough, Ontario Business Development headquarters in Canada the company specializes in green completions, interior refurbishment, maintenance, component services, avionics installations and upgrades and, staying loyal to its roots, exterior paint work.

In 2015, the company launched Flying Colours Corp. Asia PTE when Bombardier Aerospace selected the company to provide full service interior refurbishment capabilities on Learjet, Challenger and Global business jets at Bombardier’s wholly owned Singapore Service Centre located at Seletar Airport in Singapore.

“The local facility brings real benefits to aircraft owners and operators in the region who no longer have to experience lengthy downtimes whilst aircraft are sent to Europe or the USA for interior upgrades. With our local base we are fulfilling a strong market demand,’ says Eric Gillespie, VP Business Development. Since opening, the facility has worked on over 50 aircraft supporting a range of projects including refurbishing and refinishing woodwork and cabinetry, repairing and restoring upholstery, and upgrading interior furnishings. The aim is to employ a mainly local workforce with each employee benefiting from a specially developed three-month training program in Canada. Through additional on-

114 ASIA PACIFICASIA REGION PACIFIC BUSINESS JET FLEET REPORT – YEAR END 2015 the-job training and specific aircraft project-led work, it is of the certification paperwork, registration process, STCs expected employees will then become proficient in all the and extensive modification knowledge complements our interior skills currently provided by Flying Colours. “We partnership and supports our ambitions to further develop are always looking for the right candidates and are keen our business in the region,” says Gillespie. The next three to ensure their development. Right now the skills needed aircraft are currently in process and are expected to be to deliver the quality expected for Bombardier aircraft are finished by the autumn. rare, which is why we wanted to recruit team members who really understood the challenges and could rise to them,” The final five will be redelivered in a Flying Colours CRJ said Gillespie. ExecLiner VIP format with a 15 seat configuration, a style mirroring a Bombardier Challenger 850. The CRJ Flying Colours has extensive experience in Asia. It has ExecLiner is a format developed by Flying Colours that has completed or refurbished for Asian clients over 30 aircraft already proved popular in the Asian region with a dozen

in the last four years, including a number of special of the aircraft type already delivered. The VIP jets will mission projects. In 2014 it confirmed its strong position incorporate an advanced inflight entertainment system in the Asian market when it announced a joint venture with and the installation of a supplemental fuel auxiliary system China-based Sparkle Roll Technik Co., Ltd. (“SRT”), a total engineered by Flying Colours Corp. specifically for CRJ technical solution provider for business aviation based conversions. out of Beijing, China. The partnership launched with the ambition of converting eight B-registered CRJ-200 regional During the conversions, a team of three SRT technicians jets into VIP configurations. have been, and will continue to be, present on site in The first of the aircraft has just been completed with a Canada to learn the skills and techniques required to mixed class shuttle format. Sparkle Roll and Flying Colours complete the cabin to the high standards expected by jointly created the striking cabin, incorporating black private jet passengers. ”We think it’s important to share furnishings and rose gold accents. The cabin has been our technical expertise with our partners in Asia. The divided into three separate areas incorporating a 20-seat region has huge potential and we are proud to continue to economy section, a central two double club layout, and a strengthen the human resource infrastructure.” three seat divan alongside a double club business class seat in the front cabin. An aft lavatory and small forward Looking to the future, Flying Colours Corp. continues to galley complete the layout. bolster its team with new sales, engineering and technical representatives joining on a regular basis. “We have a The Chinese Civil Aviation Authority (CAAC) awarded a unique position in the aviation environment and we intend new STC for the format and certified the B registered to continue growing our Asian customer base whilst, aircraft. “As far as we know, this is the first time that a of course, remaining focused on our existing loyal and B-registered aircraft has been reconfigured outside of valuable customers,” concludes Gillespie. China and then returned on the same registry with all the approvals obtained outside of China. Our understanding

ASIA PACIFIC REGIONBUSINESS BUSINESS JET FLEET JET REPORT FLEET REPORT– YEAR END – YEAR 2015 END 2015 115 ASIA PACIFIC CHARTER AVAILIABILITY New New Total India China Japan Macau Taiwan Zealand Thailand Australia Malaysia Indonesia Singapore Hong Kong Philippines South Korea South

Corp. Challenger 850 3 4 1 3 1 12 Airliner (28) BBJ 4 2 1 7 ACJ319 1 1 1 3 ACJ318 1 1 1 3 B727-100 1 1 RJ70 1 1 Lineage 1000 1 1 Long Gulfstream G550 1 11 2 2 1 17 Range (53) Global Express/XRS 3 2 5 1 1 1 13 Global 6000 2 2 2 6 Gulfstream G650 1 4 1 6 Global 5000 1 1 2 1 1 6 Gulfstream V 1 1 1 3 Falcon 7X 1 1 2 Large Legacy 600/650 6 3 1 1 6 1 18 (72) Challenger 604 4 2 8 14 Gulfstream G450 7 1 1 1 1 11 Gulfstream IV/SP 2 2 1 1 6 Challenger 605 1 2 1 1 1 6 Falcon 2000 4 1 5 Challenger 600/601 3 1 4 Falcon 2000LX/LXS 2 1 3 Falcon 900DX/EX 1 1 Falcon 2000EX/EASy 1 1 Falcon 900LX 1 1 Gulfstream G300 1 1 Falcon 900/C 1 1 Medium Hawker 800A/B/XP/XPI 3 3 2 1 1 10 (59) Hawker 850XP 6 1 1 2 10 Gulfstream G200 1 2 4 3 10 Hawker 900XP 2 2 1 4 9 Challenger 300 3 2 1 6 Citation Sovereign 3 2 5 Citation X/+ 2 2 4 Gulfstream G100 1 1 Gulfstream G150 1 1 Hawker 750 1 1 Gulfstream G280 1 1 Hawker 1000B 1 1

116 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 New New Total India China Japan Macau Taiwan Zealand Thailand Australia Malaysia Indonesia Singapore Hong Kong Philippines South Korea South

Light Citation VI/VII 2 1 1 4 (28) Hawker 400/A/XP 1 2 1 4 Citation CJ2 1 1 2 Citation V 2 2 Citation Bravo 2 2 Citation Excel 2 2 Citation III 2 2 Learjet 45/XR 1 1 Citation CJ2+ 1 1 Sabreliner 65 1 1 Citation CJ3 1 1 Learjet 35/A 1 1 Citation CJ4 1 1 Nextant 400XT/XTi 1 1 Citation Encore+ 1 1 Citation XLS/XLS+ 1 1 Citation Ultra 1 1 Very Citation CJ1 1 1 2 Light (10) Citation Mustang 1 1 Premier I 1 1 Citation CJ1+ 1 1 Learjet 24A/E/F 1 1 Citation I 1 1 Premier IA 1 1 Citation I/SP 1 1 Citation II/SP 1 1 Total 56 49 42 19 19 17 15 12 7 6 3 2 2 1 250 % of Total 22% 20% 17% 8% 8% 7% 6% 5% 3% 2% 1% 1% 1%

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 117 118 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 AIRCRAFT MODELS POSITIONING Aircraft Total Yearly Cost vs Maximum Range

20 19 18 ACJ321 17 BBJ3 BBJ2 16 ACJ320 ACJ319 15 14 BBJ 13 ACJ318 12 G650ER Global 6000 11 G650 G550 Lineage 1000E 10 Global 5000

9 G500 F8X

G450 8 F7X Global Express XRS Legacy 600 F900LX 7 Legacy 650 CL890 CS CL850 G350 F2000LXS Global Express 6 CL605 CL870 CS F900EX EASy G-V CL350 F900EX Cit. X+ F2000S 5 Legacy 500 G280 F2000LX CL300 G300 G-IVSP Cit. X F2000DX Cit. Sovereign+ G-IV F2000 4 Cit Latitude CL604 Legacy 450 F2000EX G150 F50EX Cit. Sovereign G200 Cit. XLS+ H4000 3 L75 L45XR L70 L60XR H900XP Estimated Total Yearly Cost (Million USD/Year) Cost (Million Yearly Total Estimated H850XP Phenom 300 Cit. VII H800XP L40XR H800 Cit. Excel G100 Cit. Encore+ Cit. CJ4 Cit. CJ3 Cit. CJ3+ Cit. XLS Diamond 1A Astra SP 2 Cit. CJ2+ Cit. Bravo H400XP Cit. Encore Beechjet 400A Nextant 400XTi Corp. Airliner Cit. Ultra Premier IA Cit. M2 Long Range

Cit. CJ1 Cit. CJ2 Large Phenom 100E Medium

HondaJet Light Cit. CJ1+ Cit Mustang Very Light Eclipse 550 1 0 1000 2000 3000 4000 5000 6000 7000 8000 Max. Range (N.M.) * Total Yearly Cost estimated includes Conklin & de Decker 2015 industrial figures for aircraft acquisition cost on 10 years, plus yearly operating cost, plus adjustments to account for regional differences and financing costs.

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 119 RECENT & UPCOMING AIRCRAFT MODELS By Maximum Range

9000 Recent Upcoming Delivery 8000 Global 8000 G650ER ACJ319neo Global 7000 7000 BBJ MAX 8 Falcon 8X G600 6000 BBJ MAX 9 ACJ320neo

5000 G500 Falcon 5X Sukhoi SBJ 4000 Citation X+ Challenger 650 Citation Longitude Challenger 350 3000 Citation Latitude Legacy 500 Learjet 85

Maximum NBAA IFR Range (N.M.) Legacy 450 2000 PC-24 Nextant 400XTi Citation M2 Cirrus Vision SF50 1000 Hondajet

0 2014 2015 2016 2017 2018 2019 2020

Expected First Delivery Year

By Cabin Volume

8192 Recent Upcoming BBJ MAX 9 Delivery Sukhoi SBJ BBJ MAX 8 4096 Global 7000

ACJ320neo G650ER ACJ319neo Global 8000 2048 Falcon 5X G500 G600 Falcon 8X Challenger 650

1024 Challenger 350 Citation Longitude Legacy 500 Legacy 450 Learjet 85 Cabin Volume (ft3) Cabin Volume Citation X+ Citation Latitude 512 PC-24

Cirrus Vision SF50* 256 Nextant 400XTi Hondajet

Citation M2

128 2014 2015 2016 2017 2018 2019 2020 * Estimated Cabin Volume Expected First Delivery Year

120 ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 PRE-OWNED AIRCRAFT FOR SALE

Pre-owned Business Jet Global Availability– % of Fleet for Sale

15%

14%

13% Hawker Bombardier

12% Gulfstream Embraer 11% Dassault

Cessna 10% Boeing Airbus 9%

8%

7%

6% Jan-2015 Feb-2015 Mar-2015 Apr-2015 May-2015 Jun-2015 Jul-2015 Aug-2015 Sep-2015 Oct-2015 Nov-2015 Dec-2015 Pre-owned Business Jet for Sale Global Availability– Average Days on Market

600

550

500

Hawker

450 Bombardier Gulfstream

Embraer 400 Dassault

Cessna 350 Boeing Airbus 300

250

200 Jan-2015 Feb-2015 Mar-2015 Apr-2015 May-2015 Jun-2015 Jul-2015 Aug-2015 Sep-2015 Oct-2015 Nov-2015 Dec-2015

Source: JetNet

ASIA PACIFIC REGION BUSINESS JET FLEET REPORT – YEAR END 2015 121 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 December 2015, 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.

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