Asia’s ASA Group and L’VOYAGE agree merger
Geneva May 29, 2018 – Asia’s leading business aviation specialists, the ASA Group and L’VOYAGE, announced today at EBACE, they are to merge their operations, capitalizing on the region’s double-digit growth for private jet charter and on-the-ground services.
They will combine under a new brand – ALLAVITA – meaning ‘towards a good life’, reflecting that private jet usage in the region is shifting with more high net worth, younger individuals chartering for leisure – than ever before.
ALLAVITA Holdings Ltd will hold interests in ASA’s ground handling supervision, security, protection and luxury concierge services, plus L’VOYAGE’s expertise in travel curation and private jet charter activity. L’VOYAGE will take over all charter and luxury services activity, with ASA focusing on handling, permits and security.
The combined business will merge staff from both companies and continue to have its HQ in Hong Kong, plus offices in China, Thailand, Singapore, Malaysia, Indonesia and The Philippines.
Since 1999 ASA, founded by chairman Simon Wagstaff, has focused on FBO and charter service, security knowledge, travel risk management, including journey planning and lifestyle service. With the latter. ASA has enjoyed a long and close association with Remote Lands, Inc in New York and Simon is a small minority shareholder in the business. L’VOYAGE’s strength is its ability to have direct access to ultra HNWI across the region and tailor charter and lifestyle solutions to their needs. During the four and a half years of its existence it has built up a strong and loyal international client base.
Simon will oversee all operational expertise as chairman of ALLAVITA, ASA Group and L’VOYAGE, supported by his long serving senior management colleague Julie Ambrose, who becomes Chief Operating Officer. L’VOYAGE founder, Diana Chou, will continue to be chairman of her DGA Group, overseeing the business’ unique bespoke customer relationships and data technology of her aviation portfolio.
“Over the next six months we are looking forward to consolidating our sales and on-the-ground operations to offer our clients a wider range of services in Greater China and South East Asia,” added Simon Wagstaff.
Asia’s business aircraft fleet is expected to grow further by a compound annual growth rate of 13% in Greater China, 12% in South Asia and 6% in Asia Pacific up to 2027, according to a recent study by the European Business Aviation Association (EBAA).
A wide concern however, is that the expansion of specialised aviation talent is not keeping up. “Enticing new talent is the biggest challenge we face in Asia. Combining our skillsets, and encouraging more young people into the sector is one of our key objectives within this partnership,” said Diana Chou.
Business aviation travel in Asia is still dominated by the luxury travel demands of its billionaires, she noted. In 2017, billionaires in Asia outnumbered their US counterparts for the first time. A joint report by UBS Group AG and PwC estimates that on average, a new billionaire is created in Asia every two days. The total number of Asian billionaires rose by almost a quarter to 637 in 2017, compared with 563 in the US, with China being the lead source of new billionaires.
“South Asia and Greater China are expected to lead global growth with 5.7% and 4.6% CAGR over the next 20 years, respectively, so Asia’s business aviation sector needs to catch up compared with other markets. Switzerland for example, has at least three registered business jets per billionaire, compared with less than one jet per billionaire in China currently. ALLAVITA is our response to this exciting development and enticing the new super class travellers,” Diana added.