With rising demand for charter and business jet services in the Middle East, more organizations and high net-worth individuals are investigating the possibility of buying business aircraft, attracted by private aviation's convenience and greater security.
But the current shortfall of financing options in the Middle East is preventing the private aviation market from reaching its full potential in the region.
"ExecuJet used the forum to review challenges facing the financing of business jets, discuss alternatives to traditional financing, and identifying certain initiatives to overcome obstacles to ownership," said Patrick Kleu, executive director, finance, ExecuJet Aviation Group.
"Business leaders in the Middle East have increasingly witnessed the utilization of private jets as an important business tool for people who regularly travel and need to maximize the time they have on the ground. At ExecuJet, our challenge is to source financing for our customers' investments," said Khader Mattar, sales director, ExecuJet Middle East.
"Traditionally, the private jet market has been dominated by 'cash only' transactions, where private jets have been paid for with one-off, lump sums. However, as the industry matures, it becomes incumbent upon those of us in a sales role to formulate affordable financing solutions," added Mattar.
At the forum, members of the ExecuJet management team discussed the changing nature of ownership structures with leading banking officials.
"The challenge for the industry now is to develop more advanced acquisition procedures, a reflection of the private jet's status as a valuable commercial asset. By bringing together leading industry figures at this event, we have been able to contribute positively to the development of this sector," said Mattar.
Following the meeting, ExecuJet plans to partner with financial institutions in order to develop options that will further widen the availability of business travel to more people in the Middle East. One measure that was discussed at the conference was payment in stages, with customers providing a deposit, several instalments over time, and a final balloon payment for full ownership.
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- United Arab Emirates: Tuesday, March 30 - 2004 at 15:37
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ExecuJet Middle East, the leading business aviation services company and part of the global ExecuJet Aviation Group, today hosted a high-level forum in Dubai, meeting with a number of local and international banking groups to discuss the challenges of effective financing within the Middle East's private jet market.
From left to right: Khader Mattar, sales director, ExecuJet Middle East, Patrick Kleu, executive director, finance, ExecuJet Aviation Group, Mike Berry, finance director, ExecuJet Middle East.
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Posted by Christine H. Andersen, Assistant News EditorTuesday, March 30 - 2004 at 15:37 UAE local time (GMT+4)
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About ExecuJet Middle East
ExecuJet Middle East was established in 1998 and is based at Dubai International Airport. The company provides a complete set of aviation services associated with the sale, operation, management, charter and support of modern high-technology business jets, serving Customers throughout the Middle East, North Africa and Europe.
ExecuJet specialises in the sale and support of business aircraft to suit most mission profiles. The company is the official sales and distribution agent for Bombardier Aerospace's entire range of Learjet business jet aircraft in 10 Middle Eastern countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, United Arab Emirates and Yemen. Bombardier Aerospace is a world leader in the design and manufacture of innovative aviation products and services for the regional, business and amphibious aircraft markets.
Furthermore, ExecuJet is also an appointed Pilatus distributor for the PC-12 turboprop aircraft in the same sales territory.
In recognition of its highly professional aviation service standards and products, ExecuJet Middle East was the first independent business aviation service provider to have received an air operators' certificate from the UAE civil aviation authority. Under this certification, ExecuJet operates and manages a selection of aircraft for charter including a Bombardier Learjet 60 mid-size business jet and a Challenger 604 wide-body business jet.
ExecuJet Middle East and Bombardier Aerospace, expect to complete construction of a dedicated aircraft service centre and spare parts depot at Dubai International Airport in early 2005. This venture is unique in that Bombardier (as an Original Equipment Manufacturer) and ExecuJet (as a service provider) will be the first to offer full representation and support in the region.
ExecuJet Middle East is a member of the ExecuJet Aviation Group, a global aviation group of associated companies located in Australia, the Middle East, Scandinavia, South Africa & Switzerland, providing a comprehensive range of services including aircraft sales, charter, maintenance, flight operations, aviation services & fleet management. Globally, the ExecuJet Aviation Group represents the entire Bombardier Aerospace portfolio of products in more than 30 countries worldwide, and currently manages more than 90 executive jets.
ExecuJet Middle East was established in 1998 and is based at Dubai International Airport. The company provides a complete set of aviation services associated with the sale, operation, management, charter and support of modern high-technology business jets, serving Customers throughout the Middle East, North Africa and Europe.
ExecuJet specialises in the sale and support of business aircraft to suit most mission profiles. The company is the official sales and distribution agent for Bombardier Aerospace's entire range of Learjet business jet aircraft in 10 Middle Eastern countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, United Arab Emirates and Yemen. Bombardier Aerospace is a world leader in the design and manufacture of innovative aviation products and services for the regional, business and amphibious aircraft markets.
Furthermore, ExecuJet is also an appointed Pilatus distributor for the PC-12 turboprop aircraft in the same sales territory.
In recognition of its highly professional aviation service standards and products, ExecuJet Middle East was the first independent business aviation service provider to have received an air operators' certificate from the UAE civil aviation authority. Under this certification, ExecuJet operates and manages a selection of aircraft for charter including a Bombardier Learjet 60 mid-size business jet and a Challenger 604 wide-body business jet.
ExecuJet Middle East and Bombardier Aerospace, expect to complete construction of a dedicated aircraft service centre and spare parts depot at Dubai International Airport in early 2005. This venture is unique in that Bombardier (as an Original Equipment Manufacturer) and ExecuJet (as a service provider) will be the first to offer full representation and support in the region.
ExecuJet Middle East is a member of the ExecuJet Aviation Group, a global aviation group of associated companies located in Australia, the Middle East, Scandinavia, South Africa & Switzerland, providing a comprehensive range of services including aircraft sales, charter, maintenance, flight operations, aviation services & fleet management. Globally, the ExecuJet Aviation Group represents the entire Bombardier Aerospace portfolio of products in more than 30 countries worldwide, and currently manages more than 90 executive jets.
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