Small jet makers see big chance as China prepares to open skies

Ferraris and Rolls-Royces have become common sights in China's cities as a new class of super-rich indulge a growing appetite for luxury, but tight regulation has meant the private jet, the ultimate status symbol of the global elite, remains rare. Recent rules changes, however, indicate that China is preparing to open its skies to private aircraft, in a move that may herald the greatest expansion of business and private aviation in the last 30 years. Last month, China's aviation regulator simplified flight approval procedures for private aircraft and lowered the threshold for obtaining a private pilot license. For companies such as Cessna, Gulfstream, Dassault Aviation SA and Bombardier Inc, which have spent the last decade trying to build their China business, it may present a unique opportunity to expand in the world's fastest-growing aviation market.

via Business News - Yahoo Finance http://finance.yahoo.com/news/small-jet-makers-see-big-210732518.html