Release date: 24 June 2019
Air BP and China National Aviation Fuel Group (CNAF) today announced the signing of a joint venture agreement to operate a general aviation fuel business in Southwest China, covering Sichuan Province, Guizhou Province and Chongqing Municipality.
The agreement was signed by Alan Wilson, China strategic project director of Air BP and Shi Haiping, executive director of CNAF GA Development Company Ltd and witnessed by Jon Platt, CEO Air BP, Xiaoping Yang, BP China chairman and president, Zhou Qiang, Chairman of CNAF and Xi Zhengping, General Manager of CNAF.
Subject to regulatory approvals, the joint venture, CNAF Air BP General Aviation Fuel Company, intends to support the growth and development of China's general aviation sector – civil aviation other than commercial air transportation – with the intention to expand the scope further in future.
The Chinese general aviation sector has seen rapid growth in recent years and this is expected to continue. China's government has said that by 2020 it expects general aviation in China will reach two million hours flown and the fleet size will exceed 5,000 aircraft.
"We are delighted to extend our existing successful partnership with CNAF from commercial aviation into general aviation," said Jon Platt, CEO Air BP. "Combining Air BP's globally renowned global aviation fuels, best practices and innovative fuelling technologies with CNAF's strong presence and local expertise, we look forward to jointly contributing to the sustainable development of China's aviation industry over the long term."
Zhou Qiang, Chairman of CNAF, said, "Although China's general aviation is still in its early stage, we are confident that it will grow into a towering tree and become the two wings of China's aviation industry together with commercial aviation. The cooperation between CNAF and Air BP will support the development of China's general aviation industry."
Air BP has been a long-term partner, in China's commercial aviation sector, with CNAF through its Shenzhen Chengyuan Aviation Oil Co., Ltd. and South China Bluesky Aviation Oil Co. Ltd joint ventures. The two joint ventures currently supply aviation fuel to 29 airports in central and southern China.
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.
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