Diana Chou: first lady of Asian aviation

The other aviation connections came through one of our business partners, who was the neighbour of Pierre Beaudoin – whose family owns Bombardier – and the fact that we were very close friends with the Ojjeh family, who are owners of TAG Aviation/TAG Aeronautics. TAG has been representing Bombardier now for over 40 years, as they were the agent for Bombardier in the Middle East.

So, when Bombardier was looking for an agent to represent them in China, in the late 1990s, it was quite natural for them to ask us – my brother, his partner and TAG, whether they were interested. The three boys got together and agreed to represent Bombardier in Hong Kong, Macau and China. I was pulled in because, of the partners, one lived in Europe, one lived in Montreal, and my brother was travelling between Hong Kong, Europe and North America, so who was actually going to sell the aircraft? My brother approached me, while I was Brand Manager – Clinique for Estée Lauder, and he said: “Since you are working so hard, making money for other people, why don’t you start this business for us?” And that was how I started, at the end of 1998. That was the beginning of Sino Private Aviation. We signed a representation agreement and have never looked back since.

It must have been very tough at the beginning, as private aviation was a new concept to China. I understand that it took close to two years for you to sell your first aircraft and another four years to sell the second. However, the market has grown and you have thrived in it. What other opportunities have you explored in the region?

Because of my involvement in private jets, I started to look at helicopters. The market had begun to mature, and I wanted to be involved, so I set up Aerochine in 2010, working for Bell Helicopters. And then later on moved into charter, which is when I started L’Voyage.

The concept for L’Voyage started in mid 2013, when we were having a lot of fights with the OEM. We realised that we had accumulated a huge customer base and had a large number of customers who had bought aircraft, thinking that they needed to fly a lot more than they really did. Many were flying less than 100 hours per year, so there were a lot of excess hours on the aircraft, which were wasted. These customers began to come to us and ask if there was any way we could help them to charter the aircraft.

In the beginning we were doing all the charter referrals on a pro bono basis. But when it began to become the norm, we decided we should turn it into a business, and that was how L’Voyage started.

The aircraft were not under our management, they were with different operators, but we had maintained a very close relationship with the customer. They liked the services that we provided and they knew that we are extremely well connected.

As a charter business, it does mean that you have to get owners’ permission for each flight, which makes it more challenging, but it offers a lot more options to the client who is looking to charter. They can choose the aircraft that fits the mission. It is more economical and you are not bound to one aircraft or one aircraft type.

Aircraft owners sometimes have a vision of how many hours they will use on the plane, but things change. They may have bought the aircraft for short-haul trips, but then they end up needing more long-haul operations. What do you do? Change your aircraft? Retrain your staff? That process can quickly lose you a lot of money. Chartering is a really good solution for a lot of people.

I always tell my clients, if you don’t have more than 300 hours flying need per year, then don’t even contemplate buying a plane. Because it can be a real headache and you will not get the value. Always try chartering before buying.

The latest company to join DGA is Aero Infinity. What does that do?

At Aero Infinity we target smaller helicopters and turboprops – workhorses not business jets – for operating leases. They have incredible residual values, there is a huge demand for them now in Asia, and there aren’t many financial institutions that will look into operating leases. Many of the operators do need an option. They can’t buy the helicopters or jets and put it into their assets because it ties up their cash. They may not have large lump sums, but they have regular turnover. So, we really feel that there is a market niche for that. A lot of the big banks and leasing companies, even the big leasing helicopter companies, like Milestones and Waypoint, they only go after the helicopters that are US$20 million and above. It is too costly to go after the small operators, and the small aircraft, because the value is very low. It does not make economic sense.

I felt that since I have been in the marketplace for 19 years, and both of my partners have been in aviation for over 20 years, together we know all the major clients in Asia, and we have a better marketing advantage.

So, what is left in Asian aviation for you to develop?

There are a lot of areas, like Part 91 or part 135 operations. We have not looked into that, as we do not have that kind of expertise and I think it is better that we work hand in hand with the operators, because we can’t conquer the whole market, and take over the whole food chain. We would rather work with operators and support them as partners, than compete for their business.

However, there are still lots of areas available, because the foodchain is so long, and in mainland China it is still quite new.

You are a founder member and executive committee member of AsBAA, Director the Pacific Basin Economic Council, China Airport General Aviation, The Better HK Foundation and others. You are involved in things that influence the industry and how it operates and have become a leading voice in the general aviation industry in Greater China. Do you think it is important to get involved?

I am very passionate. I have been ever since I have been involved in aviation and I have spent 20 years in the industry. To be honest, if I had done something else I could have made a lot more money. It is constant headaches, because you are in virgin territory. You are the pioneer; you are always pushing against a head wind, swimming upstream. But I have such passion. Aviation is a drug. Once you are on it, you can’t get off.

Additionally, basically, I am a Buddhist in upbringing. I believe in karma. I believe that helping other people and the wider industry is helping myself. I enjoy sharing and I enjoy helping other people to succeed. We can then create a much bigger pie. If you grow the pie not just your slice, everybody has a good share in it. That is my philosophy.

When it comes to helping others, you are also very involved in charity.

Yes, we have our Corporate Social Responsibility work with Unicef [Chou’s companies supported Unicef’s ‘28 days to save a child’s life’ fundraising campaign], because I believe that whatever we take from society, we have to give back. And I particularly feel that the next generation is the most important, as they will be the pillars of our society in the future. They will be leaders, so that is why I would like to give back and support youth and children. It is about education and alleviation of poverty; to give everybody a chance to realise their potential and their dream.

In this region, in private aviation, there are a lot of strong women – Sino Jet, TAG Aviation, HK Business Aviation Centre, JSSI, among others. Do you see yourself as a pioneer and a role model to these women?

I don’t think that I have been a role model. I think that in Asia we just have very strong women! I really feel that not just in Asia, but worldwide the female movement has liberated women to look at their careers from a different perspective. In the US, in the UK, Europe, you see very powerful women as Prime Ministers and heads of state. These people are our role models really. I would encourage other people to go after their dream. Male or female.

However, you were the first woman to sell aircraft in China, and have been successful in a very male-dominated industry. Do you support each other?

The women in aviation in the region do get together every now and again to encourage each other, because it is not easy. The most difficult thing in our industry for women is to balance your work life and your family life, especially when we travel so much. Some of us have kids, like Jolie [Howard of TAG Aviation]. She has three sons, so it is not easy to balance that. Some of us are lucky and some are not so lucky. You have got to have a very understanding partner to support you.

In whatever spare time you have, what do you like to do?

I personally do a lot of spiritual work. I meditate, to find balance and centre myself. I enjoy nature very much and I like to go hiking in Hong Kong, which has many beautiful spots. And I like to travel in my spare time. I don’t have an aircraft of my own, but the extended family does, which is useful.

Finally, what is your proudest achievement?

There is a lot of money moving in the aviation industry, especially when you are in the brokerage business. My proudest achievement is that I was able to follow through with my values, and to stay true to myself and not be blinded by the fame or money. I think that is what I am proudest of, that I have kept my integrity intact. It is not easy. In this high rolling world, you can lose yourself, and I am happy that I haven’t.