Deer Jet, China’s largest fleet operator, has launched its “General Aviation Equity Fund,” with the goal of increasing investment in general aviation services, such as FBOs and MROs, in China. The fund is anticipated to generate 2 billion RMB in investment capital in the first round, towards a total of 5 billion RMB. Deer Jet announced the fund here at ABACE 2014
The minimum initial contribution by organizations and qualified individuals will be 50 million RMB. After joining the fund, investors will become “VIPs” of all of Deer Jet’s tourist offerings, which include hotels, golf, yachts and, of course, aviation services. Those who invest 100 million RMB can take 100 flight hours annually in one of the company’s Gulfstream G550s in return of their investment; alternatively, they can receive their compensation in other luxury services, such as private yachts, cruises or helicopters.
Last month, the company formed a joint venture with aeromedical provider China SOS International to form Deer Jet Medical, the country’s largest air-ambulance provider. The new company, the first such provider in China to operate to international emergency medical standards, according to chairman and CEO Dennis Lu, will provide medical crews and operate three intensive-care-unit-equipped Hawkers (a pair of 800s and one 850) on 24-hour standby from bases in Beijing, Shanghai and Shenzhen. In addition to the air ambulances, Deer Jet Medical can also draw from the Deer Jet fleet, if larger, longer-range business jets, such as the Gulfstream G550 or even a Boeing Business Jet, are needed. The company has an international medical team with more than 20 ICU members on call.
In a change of structure, Deer Jet at the beginning of the year, took over management of sister company Beijing Capital Helicopter, which operates the fifth-largest rotorcraft fleet in China, consisting of 10 Airbus Helicopters (A350B3s and EC135s). In addition to providing pilot training, its helicopters are used in a variety of roles, such as agricultural operations, sightseeing, photo flights, airborne prospecting/land sensing and power-line inspection.
The first company to offer aircraft management in China, Deer Jet currently has a fleet of nearly 80 aircraft, 50 under management and the rest company-owned. Deer Jet claims the benefits of aircraft management through its Hong Kong Jet management services: operators in the region can reduce or avoid the high taxes placed on business aircraft importation by basing them in Hong Kong; and the company can accept China- and U.S.-registered aircraft on its certificate.