UAE corporate leaders go big on
business jets
Nation tops in taking delivery of most number of large aeroplanes
The UAE is the second-largest buyer of mid- to-large private jets out of a
total of 293 aircraft that were delivered to the Middle East between 2006
and 2015, data released at the Middle East Business Aviation Association (Mebaa)
show said.
The largest number of deliveries were to Turkey (77), followed by the UAE
(63) and Saudi Arabia (58), while the UAE tops in taking delivery of the
most number of large jets.
New research from Global Jet Capital, a financier for large-cabin,
long-range private jets, reveals that 293 mid to large private jets with an
estimated combined value of over $14.65 billion were delivered to the Middle
East between 2006 and 2015.
These aircraft typically cost between $25 million and $75 million each, and
up to 80 per cent of the funding used to purchase these is sourced through
external financing.
In large private jet delivery, the UAE was recipient of 56 jets, followed by
Turkey (45), Saudi Arabia at (39) and Qatar (19).
The region received a total of 49 midsize jets, 222 large jets and 22 jet
airliners between 2006 and 2015, data shows.
Simon Davies, Global Jet Capital's sales director for the Middle East, said
around 40 per cent of the fleet of mid to large private jets in the Middle
East were delivered between 2006 and 2015.
Over the next 10 years, as many as 350 new business jets could be delivered
to the Middle East worth an estimated $10.5 billion, said a Global Jet
forecast. Some 220 of these jets could be medium to large in categories.
A new research from Global Jet Capital also reveals that 59 per cent of
business aviation professionals believe the Middle East private jet market
is currently attractive for finance companies. Only 15 per cent think it is
unattractive.
There are currently 739 business jets in the Middle East. These include 83
business airliners, 112 large jets, 537 medium-sized jets, four light jets,
three very light jets.
December 7, 2016 |