Business jets to propel aircraft care industry in 2023
The aircraft maintenance, repair and overhaul (MRO) industry in the Philippines and the rest of Asia is expected to have a positive trajectory this year, according to ExecuJet MRO Services, which is banking on the increasing activities of business jets.
“We expect the MRO market in the Asia region to be bullish this year due to increased business jet utilization and ownership,” the Malaysia-based company told the Inquirer.
The MRO firm said it was able to cap off 2022 with a stronger performance compared to 2021 with mobility restrictions further eased. This trend was expected to continue this year, it said.
“The recent news of China reopening its international borders certainly adds optimism to the market,” ExecuJet added.
The company said it was able to reach its full-year target for the Philippine market in 2022.
Previously, ExecuJet regional vice president for Asia Ivan Lim told the Inquirer they were eyeing to provide service for up to six aircraft last year. It maintained around two to three units in 2021 due to a dip in demand as several flights were grounded.
“We managed to achieve our overall 2022 target as far as the Philippines market is concerned,” the company said.
ExecuJet has been certified by the Civil Aviation Authority of the Philippines to conduct line and heavy maintenance on Falcon 900/2000 series, Gulfstream G200/GIV series and Bombardier Challenger 300/350 and the Learjet 45. Its certification is valid until Oct. 31, 2026.
ExecuJet has been servicing the Philippine market since 2014.
