Red star rising?

China’s crackdown on corruption in 2014 sent the country’s nouveau riche, potential buyers of business jets, scurrying for cover. Three years later it seems they are re-emerging and executive aircraft makers are drooling over the potential for increased sales.

Legendary martial arts movie icon Jackie Chan was definitely an exception to the rule back in 2015 when he splashed out around $20 million to become the first Chinese customer to take delivery of Brazilian aircraft manufacturer Embraer’s new, state-of-the-art Legacy 500 Business Jet. He may have been accustomed to the limelight but most of his compatriots were trying to avoid it.

The reason was simple. What had been a highly promising market hit a wall in 2014 after then Chinese President Xi Jinping launched a fierce crackdown on corruption that discouraged conspicuous displays of wealth. Commercial airlines saw their business traffic fall and orders for new executive jets slowed to a crawl as the super-rich and their high-flying businesses kept their heads down in an attempt to escape the attention of graft investigators.