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Business trends

Chartered private jets find friendly skies in China

High cost of plane ownership forces companies to make down-to-earth decisions

 A round-trip charter flight between Hong Kong and Osaka costs about $5,000 per passenger on a private jet, about the same as first-class airfare on a commercial airline.   © Reuters

HONG KONG -- Demand for chartered private jets is soaring in China as companies adopt more cost-effective travel polices for their high-flying executives.

The rapid expansion of Chinese companies into overseas markets has driven demand for corporate jets, both for convenience and as symbols of status. But as companies realize their high cost of ownership and the economy begins to cool, many have sold off their private planes and turned to more economical charter jets.

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