Weak Dollar Spurs Double-Digit Growth In Asian Market
This week at the 2008 Singapore Air
Show, Hawker Beechcraft Corporation announced an order from BJETS
for 11 new Hawker 900XP and nine 850XP jets, with options for an
additional 10 aircraft. The total value of the order with options
is in excess of $450 million. The aircraft will serve throughout
India and Southeast Asia.
BJETS is a private company that provides business aviation
services to corporations and high net-worth individuals in Asia.
Offering their services in India and Southeast Asia, the new
company is based in Mumbai, India and Singapore, with a flight
operations center based in the new Hyderabad International Airport
in India, and focuses on fractional, block charter and aircraft
management services.
Operations in India are scheduled to begin by the end of the
first quarter 2008. BJETS was founded by entrepreneur Bala
Ramamoothry and the Tata Group, one of India’s largest and
most respected business conglomerates. Mark Baier, a well known and
highly experienced leader in the business aircraft industry, will
lead BJETS as CEO.
"BJETS represents the entrepreneurial spirit that is prevalent
in India and Southeast Asia, and we are excited that they will
utilize our Hawker aircraft for their new service," said Jim
Schuster, Hawker Beechcraft Corporation chairman and CEO. "With the
increase in general aviation activity in the region and their
experienced team, BJETS is a pioneer in introducing fractional
ownership in the region and is well positioned to become a leading
service provider of private jet travel."
The growing Indian economy, which is now the third largest in
Asia behind China and Japan, has created a dramatic increase in
general aviation activity and travel needs throughout the region.
In 2007 India grew to become the third largest market for HBC
products behind the United States and Brazil. HBC is committed to
growing its brand in the region through world class, in-country
sales and support partnerships. Hawker aircraft are supported in
the region by InterGlobe, who will be holding a ribbon cutting
ceremony on Thursday, February 28th to open their new Hawker
Beechcraft Authorized Service Center in Delhi. The Government of
India Minister for Commerce and Industry, Kamal Nath and Minister
for Aviation, Praful Patel will be participating in this important
event.
"The Hawker 900XP and 850XP are the latest evolution of the best
selling midsize jet of all time," said Mark Baier, chief executive
officer, BJETS. "Their industry leading performance and exceptional
reliability is legendary and we want only the best for our
customers. In addition, Hawker Beechcraft’s global network of
authorized service centers will ensure our customers receive the
service and support they deserve."
As a result of the double digit Asian market growth in 2007,
Hawker Beechcraft has also strengthened its international presence
across the region and opened a Divisional headquarters in Singapore
with outlying offices in Australia, China, Middle East and Africa.
The combination of increasing global wealth, a weak US dollar and
the realization by global leaders that private jets are key assets
to their success, has helped Hawker Beechcraft grow its percentage
of international business to approximately 60 percent.
The Hawker 800-series is the world’s best-selling mid-size
business jet of all time, and the Hawker 900XP is part of a
strategically planned sequence of upgrades for the Hawker fleet of
airplanes.
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