Update | Hutchison Whampoa eyes take-off in private jet joint venture
The venture will add business aircraft management to a CK Hutchison Holdings’ aviation operation that already spans aircraft maintenance to leasing
Gama Hutchison, a new private jet venture between Hutchison Whampoa China (HWCL) and London-listed Gama Aviation, is adding business aircraft management to a CK Hutchison Holdings’ aviation operation that already spans aircraft maintenance to leasing.
HWCL’s managing director Simon To and Gama’s chief executive Marwan Khalek said they were untroubled about entering the market at a time when austerity measures on the mainland have resulted in the slowest growth in its private jet fleet in years.
“Even if we didn’t have the anti-corruption campaign and everything, it wouldn’t have grown at the pace people were expecting, because the problem in the region is the infrastructure is lacking, de-regulated airspace is lacking,” said Khalek, who founded the global air and ground services company in 1983.
Two client-owned Bombardier jets the joint venture will start operating from Hong Kong this month will bring Gama’s managed fleet to 147 planes and introduce CKH Holdings to private aviation.
“The market slowdown is only temporary,” To said. “We believe private aviation has great potential, and it comes together well with the group’s other aviation investments: we are already involved in aircraft maintenance in Hong Kong, in Guangzhou, and there is the aircraft leasing business” – HWCL’s Guangzhou Aircraft Maintenance Engineering and China Aircraft Services (CASL) in Hong Kong.
To said the venture would develop into a jet management and charter operator in the greater China region, and was looking to buy its own planes – a prerequisite for an air operator’s certificate it is applying for.
