NasJet, a leading private aviation operator and services provider in the Middle East predicts the market is set to grow in the coming years as private jet travel becomes more convenient and flexible.
NasJet CEO Saad Saleh Alazwari’s commented on current trends at the 35th edition of the World Travel Market (WTM) - the pre-eminent trade event for the international travel industry held in London, which is set to welcome more than 50,000 global travel professionals and 5,000 international exhibitors this year. Last year’s WTM generated more than £2.2 billion of travel industry deals.
Alazwari said a number of unique operational programs are offering the corporate and leisure market greater access to private jet travel.
The robust GCC economy, estimated by the Institute of International Finance to grow by 4.2% in 2014, has also been held responsible for a surge in corporate business, with many companies opting for private jet travel over commercial travel for top executives. In addition, easier access to aircraft ownership through fractional ownership programs and lease agreements is further boosting uptake of services. NasJet is the only company to offer a fractional ownership model to the Middle Eastern market.
Alazwari added that collaborations with luxury lifestyle brands from the travel and hospitality sphere is also spurring usage as the industry moves towards a greater appreciation and demand for personalization. He added that there has always been a natural synergy between luxury lifestyle brands and the private aviation industry and NasJet is keen to explore new partnerships at WTM that can build on this potential.
“Having a presence at WTM will also help build stronger connections with airport authorities across the globe which will help us develop our operations so that we can facilitate a more seamless travel experience for our clients,” added Alazwari.
According to the Middle East Business Aviation Association (MEBAA), the Middle East and North Africa region continues to be a high growth market, estimated to be worth USD 1.3 billion by the year 2020. According to Honeywell data collected for a Middle East Business Aviation Conference (MEBAC) 2014 report, the MENA region today accounts for 4% of the entire global fleet in the business aviation industry with market share expected to remain stable across the region for the near term, based upon operator purchasing plans.
MEBAA also stated that out of the total number of registered business aircraft in the entire MENA region, almost half are registered in Saudi Arabia, which is considered to be the most promising market in the GCC with an annual growth rate of 7 %.
“Our experience in one of the world’s busiest private aviation markets puts us in a strong position to leverage our products to clients and potential partners from the international community,” added Turki Abdullah Al Jawini, Chief Commercial Officer of NasJet.
Al Jawini added that NasJet currently manages and supports in access of 67 fixed-wing aircraft based in the GCC, with an insured value exceeding $US2b, flying hundreds of VIPs to more than 10,000 airports around the world with 280 aviation experts, of which 120 are full-time crew based in the Middle East.
NasJet is participating at WTM, which will be held 3 - 6 November 2014 at the ExCel Exhibition Centre in London, with a prominent presence at exhibition stand number ME470.