WHILE THE WORLD’S EXPECTANT EYES look to China, Russia, India and Brazil for continued growth and wealth, the Middle East enjoys enviable prospects for the ultimate symbol of prosperity — private aviation. The region reports stability and a positive outlook on purchasing trends, not just for private aircraft ownership but increasingly for private charter services, especially so in Saudi Arabia. Saudi Arabian Airlines’ charter arm, Saudi Private Aviation (SPA) is one of the key charter operators breaking ground in the region. Head of SPA and Vice President of Royal and VIP affairs Wadji Abdullah Al-Idrissi tells Jetgala that the Middle East’s private aviation industry has performed well in the past three years. This has been brought about by regional economic growth, new governmental development projects and increased GNP due to surging oil prices. The number of high net worth individuals in the Middle East grew by 10.4 per cent to 0.4 million in 2010, while wealth jumped by 12.5 per cent to USD1.7 trillion, according to the World Wealth Report 2011 by Capgemini and Merrill Lynch Global Wealth Management. All this points to an increased potential market for companies like SPA. Its parent company is almost 70 years old, yet SPA is a relatively new player in private aviation, having been formed only in 2009. But Al-Idrissi says that its strategic geographical location and a regularly upgraded private jet fleet have helped SPA meet the region’s demands. From 2010 to 2011, it saw steady growth in flights to domestic destinations, such as Jeddah, Riyadh and Dammam. Its customers have also marked Dubai, Bahrain, Paris, Geneva and London as preferred leisure and business destinations. SPA’s recent addition of the Hawker 400XP to its fleet represents a strategy to further break into the market and offer more versatile flight options. Its spacious cabin, a cruise speed of 400 knots and fuel-efficient engines make it an ideal choice for businessmen who travel not more than three hours within the Middle East and between domestic airports. “We did select the Hawker 400XP due to its reasonable price for private air charter,” says Al-Idrissi. Avinode, a Sweden-based >>
SPA’S RECENT ADDITION OF THE HAWKER 400XP TO ITS FLEET REPRESENTS A STRATEGY TO FURTHER BREAK INTO THE MARKET
A new addition to SPA’s fleet, the Hawker 400XP is the fastest of light business jets Lightweight executive jets are an ideal choice for shorter flights, which are gaining popularity among countries such as Egypt and Turkey
JETGALA
45