Middle East: From Camel to Cadillac to Charter

The graph for the Middle East is on an upsurge in almost every field for the past several decades. The region of the world that probably is the most gifted one when it comes to the natural resources, has witnessed a yet another transition in the mode of movement. Business jet charter in the Middle East is growing at a fast pace and accounts for about 10 per cent of the global market, according to top industry official.

The region has about 100 private business jets, out of a global 45,000 units, said Hugh Courtenay, chief executive of International Air Charter plc, which opened its Middle East regional office at Dubai Airport Free Zone (DAFZ) in February this year to tap the regional market. Middle East's aircraft charter business is fast growing and has a high potential for development. There are lots of opportunities and the demand for business jets is slated to grow further as the region hosts a lot of international events attended by high-profile visitors.

The flourishing presence of ExecuJet and BexAir, coupled with Qatar Airway's business jet wing proves the point. They have been active in this industry for 11 years and based on their own experience, it can be inferred that the market has a very high potential.
Though Saudi Arabia is the largest market in the region for the aircraft charter business, more aircraft companies are opening their offices in Dubai, as it is emerging as a regional hub. The excellent infrastructure and high-profile events make it an ideal place for any business.

Besides, a lot of multinationals, European and American companies have set up their regional bases here which promises a growing corporate clientele who will require business jets for business travel. Courtenay said his organisation is making contacts with all leading travel agents, large business organisations and high-profile corporate entities to help them in sourcing the right aircraft for business jets.

Realising the potential of gains in the business of jet aircrafts, many other regional carriers, including Emirates, like Qatar Airways are likely to set up their own business jet wing to serve the corporate travel market.

Earlier the requests for private jets were sent to Europe or the US but now with a number of operators in the very region, serving the customers, is providing for the demand of charters that is bound to increase in the near future. The market study indicates that the demand for the private jets has seen an increase after the terrorist attacks in the US. Courtenay said "More and more business executives now opt for private jets, rather than travel by scheduled flights, after September 11, because of safety and security reasons.”