Global Jet Capital has expanded its Asia Pacific presence with the opening of a new, larger office in Hong Kong, citing increasing demand for business aviation financing solutions in the region. The office, located in the Lippo Centre in the Admiralty district, and expanded team will be headed by Violet Kwek, the company’s sales director for Greater China and North Asia.
The company—which has more than $2 billion in assets under management and is backed by The Carlyle Group, FS/KKR Advisor, and AE Industrial Partners—believes as many as 581 new midsize to large-cabin business jets, worth an estimated $20.9 billion, could be delivered to the region over the next decade, with more than 2,000 used aircraft transactions in those categories during the same period.
Currently, midsize to large-cabin jets make up about 71 percent of the Asia Pacific business aircraft fleet, and Global Jet Capital estimates that between 2015 and 2018 the region saw around 364 new and used transactions in those categories, with a combined value of nearly $12 billion.
“The opening of this new office in this rapidly growing market is a pivotal step in our expansion strategy across Asia,” Kwek explained. “As one of the world’s most globally connected cities, Hong Kong represents a major strategic location for business aviation in Asia-Pacific, and our dedicated presence in Hong Kong will be vital to capitalize on the huge opportunities that this key market has to offer.”