16 Feb '12, 11am

S'pore aviation sector set to benefit from luxury jet demand

SINGAPORE: Singapore's aviation industry is set to benefit from an increasing demand for luxury jets, fuelled by the growing number of tycoons in the region. And analysts said the role of Seletar Airport, as a secondary airport, is also set to grow in importance. Industry players at the Singapore Airshow said the Asian market for luxury jets is set to soar, as the number of high net-worth individuals in Malaysia, Indonesia, and particularly China, increases. Analysts say Asian tycoons are increasingly drawn to private jets compared to commercial flights. And that it is more than just a status symbol, but a practical and economical choice. Christophe Degoumois, vice president of Bombadier, said: "What they are buying is not just about having a luxury cabin size, like purchasing a luxury car, or buying a luxury yacht. They are buying time and efficiency with it." As such, Si...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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