Refurbs and rental planes in vogue in China

Shanghai

CHINA'S rich are foregoing fancy new private jets in favour of second-hand planes or rentals, reflecting how the country's business elite are increasingly shunning flashy signs of wealth amid slower economic growth.

Planemakers such as Embraer and Bombardier are shifting focus to after-sales services in response, while brokers are refurbishing older jets or hiring out planes as the once high-flying industry braces for its weakest growth in a decade.