Asian Business Aviation Association (AsBAA) recently invited Hong Kong based Partner – Jackson Chow to participate as a panel speaker at the Macau Business Aviation Exhibition.
A common theme amongst speakers presenting at the Exhibition was “co-ordination and collaboration” in order to optimise on the opportunities of growth in the context of business aviation in the Greater Bay Area (comprising Hong Kong, Macau and several Chinese cities in the Pearl River Delta), whether applying to passenger transitions and using technology to streamline such processes, infrastructure, slot availabilities at airports or legal regulation.
General and Business Aviation continues to grow in the Greater Bay Area. In order to sustain and effectively manage such growth, private participants as well as government institutions in the region will need to co-operate towards developing co-ordinated strategies. Macau plays a vital role in the business aviation industry for the Greater Bay Area. As demand for business aviation continues to grow, Hong Kong International Airport will be under increased pressure to adequately accommodate such growth. Recent tax concessions introduced by the Hong Kong government specifically applying to qualifying aircraft lessors and managers in Hong Kong will further give rise to more international aircraft financing and leasing institutions actively entering and participating in this region. Ancillary to these developments, Macau is well positioned to take full advantage of such initiatives and developments. Following completion of the Hong Kong – Zhuhai – Macau Bridge, travel time between these regions will potentially allow Macau International Airport to become as busy as Hong Kong International Airport to support the region.
Macau could also provide tailored and bespoke regulations to further develop business aviation in the Greater Bay Area. Looking to Guernsey by comparison, who has recently introduced laws to allow private corporate aircraft owners the opportunity to efficiently apply for Air Operator’s Certificates, Macau could look to such international examples to developing its own niche, where business aviation could be encouraged and fostered specifically in this region, but strategically coordinated and balanced with developments in greater China and Hong Kong.