GREAT POTENTIAL AHEAD - Nicole Wang, ASG Sales Manager, Greater China
Nicole Wang, Asian Sky Group’s newly appointed Sales Manager based in Beijing, is preparing to help ASG’s development with her fresh perspective on the industry. After focusing her work on Greater China for more than four years, she is positive about the great potential and promising future ahead of the aviation industry in this market.
What triggered your interest in business aviation?
I more or less stumbled into my aviation career. When I was about to graduate from college, with a degree in English, I was informed of a career opportunity at Dassault Aviation SA, an international French aircraft manufacturer and I thought I should give it a whirl. At last, I kicked off my career in aviation as an assistant intern to the Senior Vice President.
As a new graduate, I had little knowledge about the industry and hesitated about my career choice. I didn’t realize the fun and bright prospect of this industry, until I worked for a while. As far as I’m concerned, business aviation presents the economy trend of a country or region through the flight hours and the number of aircraft transactions, and inspired me to think in a more comprehensive way. That’s why I love this industry. Additionally, I have met a lot of experienced people from Dassault, operators, aircraft leasing companies and other firms in the downstream chain, most of whom have made a lifelong commitment to developing their careers in this industry. I was deeply inspired by them and would like to grow together with business aviation.
How did you end up with Asian Sky Group?
Its superb reputation in the industry attracted me most. The reports on business aviation, exclusively compiled and published by Asian Sky Group, fill the gap for industry information and provide easy access to significant industry data and insights. Also, Asian Sky Group, with its various business segments, is committed to its clients and prioritizes their interests, while considering all perspectives. Another significant reason is, for me, working in Asian Sky Group is interesting since it is possible for me to gain more knowledge about aircraft models, better understand aircraft remarketing and involve in the procedures that I am interested in such as registration, financing and management of business jets.
Why is Greater China a market that should be paid attention to?
First of all, the market of business jets in Greater China embodies great potential. There is a large number of entrepreneurs in China, which reveals a strong demand for business jets. Consequently, a promising future is in store for business jets in Greater China with the increasing
improvement in aviation infrastructure and policies. Although many entrepreneurs are concerned about whether their ownership of business jets will exert negative influence on their public images, an increasing number of clients have paid more attention to the convenience and efficiency of business jets and showed their willingness of purchase. I am quite optimistic about the future of this industry in Greater China.
What are the recent trends of the business jet market in China?
The buyers in Greater China, prevailingly, show their interest in the ultralong-range business jet with a large cabin. The second-hand market has demonstrated its vitality since last year. Among the earlier owners of business jets in China, many of them have transformed from buyers into sellers in business aviation. Clients in China, to my knowledge, who update their business jets much more frequently than what clients in European and American do, typically replace their aircraft every five years. In addition, the latest aircraft models developed by manufacturers also stimulates the desire to purchase among clients. The majority of earlier clients in China tend to choose brand-new or the top-class jets, but an increasing number of our current or potential Chinese clients are willing to accept second-hand aircraft, which boosts the balance between supply and demand in second-hand aircraft market.
Furthermore, I noticed that many jet owners have no clue about selling their business jets, which highlights the importance of the role a broker, like Asian Sky Group, plays. Recent years witnessed the establishment of aircraft management companies launched by jet owners, as they would rather manage their aircraft by themselves rather than rely on large aircraft management companies. It not only provides better service of aircraft management in a more economical way for jet owners, but also marks the increasing maturity of Chinese business aviation market. I am very glad to see this trend.
What are some of the challenges of operating an aircraft in China?
The challenge that we meet first is insufficient aviation infrastructure. The slots and schedules for business jets to take off and land in airports of China are far from sufficient, especially when business flights are arranged between hub airports in large cities such as Beijing, Shanghai, Shenzhen, Guangzhou. The limited routes, significant cost and deficient talent also cause difficulties in business aircraft management. The challenge lies in the misunderstanding of the usage of business jets, as well. Allowing for the fact that business jets are deemed by most people as the toy of the well-off, many entrepreneurs worry that their public images will be affected through their ownership of business jets. I hope the public can soon realize that business jets, in essence, are a means of transportation used to facilitate efficiency in business.
Are you optimistic about the Asia-Pacific industry’s future?
Yes! I am quite optimistic about the future because the rapid improvement of business aviation is a must, particularly with continuous economic development and growing number of wealthy people in this region, which is generally followed by a strong demand for business aviation. Among Asia-Pacific countries and regions, China, as the second biggest economy, enjoys a continuous and stable increase of GDP, target customers and purchasing power, as well as favorable policies implemented around the country. It is embracing a great opportunity for developing business aviation. Extensive opportunities lie ahead for business aviation market in Asia Pacific.
What’re you hoping to achieve in your new role at ASG?
I hope I can make good use of my industry knowledge accumulated in my previous work to help my current or potential clients have an objective understanding about business jets – a carrier of a new lifestyle and a means of transportation with safety, efficiency, convenience, coupled with privacy for business. I would like to be helpful to my clients in terms of decision making, and also expect to bring convenience and create value for them.