Makers of helicopters and small business jets are predicting a major jump in sales after China opened up its skies to private flights.
Frank Lee, chairman of China Private Aviation, said the private air travel industry "will be one of the fastest-growing sectors in the next 10 years."
Recognizing this trend, France’s Dassault Falcon just moved its Asia office from Kuala Lumpur to Beijing.
The airspace over China is under strict military control, but the People’s Liberation Army recently loosened its grip over the skies. In the past, authorities needed a week’s notice for approval of a private flight. Now it can be done in a day, sometimes in just a few hours.
MSN News reports, however, that private aviation sales will be starting at pretty close to zero, since more than two-thirds of the 15,000 business jets in operation around the world are in the US, while just 150 are in China.