Private Jet Operator Sets Up In New Zealand

Vanessa Doctor

21 December 2010

ExecuJet Aviation has recently received a New Zealand Air Operator's Certificate, which will allow it to tap the country's expanding high net worth population.

The first to be managed in the region is a Gulfstream G550, which is privately owned and will be available for third-party charter with immediate effect.

"This region is an especially buoyant one with a high proportion of ultra high net worth individuals who recognise the time-saving benefits and ease of aircraft charter. We look forward to introducing our international experience into the New Zealand market," Darren McGoldrick, managing director of ExecuJet Australasia, said in a statement.

The aviation market is seeing a boom in Asia with the rising number of HNW individuals. In a recent study conducted by Frost & Sullivan, the region recorded 291 business jets as of 2009, with a compounded growth rate of 5 per cent expected until 2018. Asia also accounts for 21 per cent of the global air traffic in terms of revenue per kilometre. The region houses more than 3 million HNW individuals, the study said.

ExecuJet already holds an Australian AOC and sees the addition of an NZ licence as an ideal complement to its growth strategy in the region. The operation will run under the management of ExecuJet Australasia.