Two powerhouse business aviation companies based on opposite sides of the world have agreed to combine their expertise in aircraft charter and management in Asia and Greater China.

While many strategic agreements to develop the market have come and gone, this one stands out above the rest: both companies are related under the umbrella of China Minsheng Investment Group (CMIG),

Luxaviation Group, the world’s second-largest private aviation operator with a fleet of more than 260 aircraft and the owner of Execujet, which manages 25 world-class fixed-based operator (FBO) facilities and 15 maintenance centers worldwide, will partner with Business Aviation Asia Ltd. (BAA), to apply Western expertise to the Asian and Chinese markets.

CMIG, through its CMIG Aviation company, owns BAA, one of the largest business jet management operators in the Asia Pacific region with hubs all over China, Hong Kong, Macau and Taiwan. CMIG is a 33% owner of Luxaviation after investing in the company in 2015.

Zhu Yimin, President of CMIG Aviation, believes the new strategic partnership in aviation services will play a highly important role in the further growth and development of China’s business aviation market.

“The agreement will bring the combined private and business aviation expertise of East and West in one unified service offering, with the kindred companies able to support and complement each other’s operations across Europe and Asia,” he said.

China Minsheng Investment Group is a leading international private investment group based in Shanghai.