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Asia-Pacific Mood & Intentions – Asian Sky Quarterly Q1 2024

by Asian Sky Team
Asia-Pacific Mood & Intentions – Asian Sky Quarterly Q1 2024 
This article is extracted from the most recent edition of The Asian Sky Quarterly.
To read the full article, please download our Asian Sky Quarterly Q1 2024 Report.

Quarterly Survey Respondent Breakdown

Q1 2024 Survey Highlights

  1. Optimism levels increased across all Asia-Pacific subregions when compared to the last quarter of 2023. The Middle East & North Africa, South Asia, and Southeast & Northeast Asia were above the average optimism level while Greater China and Oceania were lower.
  2. A total of 61.3% of respondents reported that their aircraft utilization increased in Q1, whilst only 17.9% reported lower aircraft utilization.
  3. A total of 61.7% of respondents expressed their intention to purchase aircraft in the next 12 months. Purchase intentions for pre-owned aircraft increased to 35.8%, whilst interest in new aircraft dropped from 29.1% to 25.8%. Large Jets and Twin Turbines were still the most popular categories for fixed wing aircraft and helicopters respectively.
  4. 42.1% of respondents believe it is a buyer’s market for the preowned aircraft. Only 21.1% believe it is a seller’s market.
  5. More than half of all respondents expressed their intention to charter aircraft in the next three months.

In Asian Sky Group’s Q1 2024 survey on the industry’s mood and intentions, we received more than 200 responses from business aviation professionals. The regions with the most respondents included:

  1. Southeast Asia and Northeast Asia (30.6%)
  2. Greater China, mainly covering mainland China and Hong Kong SAR (24%)
  3. South Asia (8.2%)
  4. Oceania (8.2%)
  5. Middle East and North Africa (3.8%)

Half of the respondents (50.2%) worked in business jet related operations, whilst the others were mainly from businesses related to turbine helicopters (22.6%) and business turboprops (18.7%).

Among all the respondents, 34.3% were aircraft operators, while aircraft sales and services providers came second and third, accounting for 27.7% and 24.8%, respectively.

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To read the full article, please download our Asian Sky Quarterly Q1 2024 Report.

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