Thai business aircraft operator MJets is seeking to expand its fledgling operation through a combination of aircraft ownership and aircraft management in an effort to expand its share of Asia's business aviation market.
The Bangkok-based company - owned by William Heinicke, founder and chief executive of the Minor Corporation and Kirit and Nishita Shah owners of Precious Shipping - have taken delivery of South-East Asia's only commercially operated Cessna Citation X. The high-speed, midsize business jet joined MJets' light-cabin CJ3 in service.
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"We were formed in 2006 and are beginning to build up steam," says MJets general manager Stephen Lake. "Another two to three aircraft, including a Citation Encore+ are expected to join the fleet by July." Lake says the demand is split between high net-worth individuals travelling for private and leisure purposes to destinations within Asia Pacific, Australia and South-East Asia, and multinational companies that have bases within the region. "Around 70% of our customers are US and European and the remainder are from with Asia and the Middle East," Lake says.
He adds that while the global economic recession has cut demand, the recent anti-government protests in Thailand, which forced the closure of Bangkok's two main airports and halted airline services, could have a lasting impact. "The airport closures served us well in the short term," Lake says.
MJets repositioned to nearby civil/military and secondary airports Utapao and Hua Hin, both inaccessible to airline traffic, and "we were able to offer a solution to some stranded passengers" wanting to fly into and out of the capital, Lake says. "Yet in the long term the actions of the protesters may have tarnished the image of Thailand as a stable market for tourism and business and this could take some time to erase."
Source: Flight International