Singapore 2010: BJETS has hard landing

BJETS.jpgWe’ve been busy preparing for next week’s Singapore Airshow, when we’ll have a fantastic online presence. We have done a comprehensive overview of the Asian aerospace industry ahead of next week’s show. Do especially look out for our digital daily next week, something the Flightglobal team is trying for the first time – I’ll provide more details later this week.

Along the way, I began to dig more into BJETS – a business aviation start-up that made a big splash at the 2008 Singapore Airshow. Two years later, the dream has turned sour with the company rapidly shrinking its expansion plans.

The economic crisis of the last 18 months was partly to blame, but the reality is that the company also over-estimated the market potential and under-estimated the challenges. This does not just apply to the business aviation market, but to the wider aerospace industry as well.

Multi-national companies that come to Asia have increasingly found that they can’t necessarily apply the way they do business in their home countries in this region. You need to adapt your business plan, and a slowly, slowly approach usually works much better.

There are many lessons to be learnt from the problems faced by BJETS.

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