With China’s general aviation sector seeing rapid growth in recent years, the country has welcomed a joint venture agreement between China National Aviation Fuel Group (CNAF) and Air BP, to operate a general aviation fuel business in southwest China.
The Chinese government has stated by 2020 it expects general aviation in the country will reach two million hours flown and the fleet size will exceed 5,000 aircraft. The new venture will cover Sichuan Province, Guizhou Province and Chongqing Municipality and will support the growth and development of China’s general aviation sector with the intention to expand the scope further in the future.
Although China’s general aviation is still in its early stage, we are confident that it will grow into a tower tree and become the two wings of China’s aviation industry together with commercial aviation, said Zhou Qiang, chairman of CNAF.
“The cooperation between CNAF and Air BP will support the development of China’s general aviation industry,” he continued.
The latest agreement builds on Air BP’s successful existing relationship with CNAF through its Shenzhen Chengyuan Aviation Oil Co. Ltd and South China Blueksy Aviation Oil Co. Ltd joint ventures as a long-term partner in China’s commercial aviation sector.
“This newly-signed joint venture agreement not only underlines BP’s continued confidence and commitment in the Chinese market, but also reaffirms our dedication to support the transformation of China’s industry through innovation and growth,” added Xiaoping Yang, BP China chairman and president.