Air China To Tap Business Jet Market

Air China Limited, the country's flagship carrier, plans to team up with the Beijing municipal government to tap the business jet market, according to a report by local media.

Reportedly, the two sides are likely to sign an agreement soon to form a joint venture that rents jets to businesses.

China's business jet market is in its infancy, with the number of business jets in the country less than 1% than that of the U.S. market. However, it is estimated that the country will need 600 to 1,200 business jets in the next 10 years.