Business aircraft financial solutions provider Global Jet Capital (GJC) has opened a regional office in Hong Kong. The office is designed to help the company to meet the growing demand for business aviation financing solutions in the region and develop its growth strategies across Asia Pacific.

GJC estimates that over the next 10 years, as many as 581 new mid to heavy business jets with a combined estimated value of US$20.9 billion could be delivered across Asia Pacific. Over the same period, the company expects to see at least 2,200 mid to heavy used aircraft transactions valued at over US$13 billion. Between 2019 and 2028, it says the value of new deliveries to the Asia Pacific region will grow 10.9 per cent at an annualised rate, the fastest in the world.

Global Jet Capital estimates that there were around 364 new and used transactions involving mid to heavy private jets in Asia Pacific between 2015 and 2018, with a combined value estimated at nearly US$12 billion. Overall, around 71 per cent of the region's fleet of business aircraft is in the mid to large cabin category.

The new GJC office is based in Hong Kong's Lippo Centre, a skyscraper complex situated in the heart of Admiralty. The team based there will undertake local legal and underwriting capabilities, and will be led by greater China and north Asia sales director Violet Kwek.

She comments: “The opening of this new office in this rapidly growing market is a pivotal step in our expansion strategy across Asia. 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 capitalise on the huge opportunities that this key market has to offer.”

COO Dave Labrozzi adds: “The Hong Kong base reflects our continued commitment to the Asia Pacific region, where we have a strong customer base and a long track record in supporting our clients business aviation needs. With our permanent presence in Hong Kong and our newly expanded team we look forward to continuing to provide dedicated support to our clients and growing Global Jet Capital's footprint in the region.”