What does the COVID-19 pandemic mean for China’s Belt and Road Initiative? The Belt and Road Initiative is one of the biggest development projects in history, but the pandemic has had a huge impact on the economies of the countries involved in it.
Until now, only billionaires, world leaders, and James Bond villains flew to work, but someday soon, you too may have a faster commute: many companies around the world are hard at work on electric vertical takeoff and landing (eVTOL) aircraft, essentially super-sized drones designed to whisk two to four people from one side of a […]
Few in the expat business community can rival Patrick Horgan’s depth and range of experience in the Chinese market. Since first coming to China as a volunteer in 1989, Horgan’s career has spanned business, diplomacy and cultural relations. Since 2011, he has been Regional Director of Northeast Asia for Rolls-Royce. As he tells CKGSB Knowledge, he believes China’s development ambitions make this an exciting time to be at the British manufacturing giant. China now has about 2,800 aircraft while in the US the number is 7,000 and there is a massive opportunity for international air framers and engine providers.
HNA Group is the most acquisitive Chinese conglomerate in China. Through acquisitions, the group quadrupled its size and made its debut on the Fortune 500 list as the world’s 464th biggest firm in terms of revenue. And it aims higher: becoming one of the top 10 by 2025 with holdings of $5–6 trillion in assets—more than double the assets held today by JPMorgan, the biggest bank in the United States. What is its business model like? How did the Group, which started as a small regional airline company in China’s southernmost island, with only two jets, make it? What are the risks behind the buying spree?
Seven years ago, around 70% of passengers in US-China air trips were American. But today, more than 50% of travelers are Chinese. Flying used to be a luxury mode for travel in China, but now is for the masses. Data shows that by 2029 China will overtake the US as the world’s largest passenger market. The increasing passenger demand has not only brought Chinese airlines big successes in the past decade but also some real challenges like lengthy delays and poor service. In fact, Chinese airlines are struggling to keep up with growth in demand, and compared to foreign counterparts, they are not as global nor as profitable as they should be.
The Airlander 10, part plane and part airship, is the world’s longest aircraft in operation today. Roughly the size of a football field, it has a shape different from any airship of decades past. Developed by British manufacturer Hybrid Air Vehicles, the Airlander 10 can ascend from anywhere with no need for an airport or runway and maintain a capacity of transporting a large amount of goods. According to Stephen McGlennan, CEO of HAV, over 100 million pounds has been invested in the project and it is preparing another test flight in the coming Spring, after it failed in a August test flight this year.
Laurence Barron, Chairman of Airbus Group China, on the company’s growth in China’s expanding aviation sector
A look at the airlines that call the shots, the busiest airports and the state of aviation in China
This week, China’s factory activity improved a little even as factory employment figures slumped; Adobe announced its intention to shutter its China R&D center while other MNCs remain upbeat; and the Alibaba share price fell after last week’s spectacular IPO.
Patrick Horgan, Regional Director, North-East Asia, on how Rolls-Royce diversified in China. Unknown to many, China’s engagement with Rolls-Royce, the iconic British multinational company, goes back nearly a century. In 1919 the first airmail service between Beijing and Tianjin was powered by Rolls-Royce engines on a Handley Page aircraft. In 1963, Rolls-Royce sold Dart engines […]