GCC private jet fleet to climb to 300 by 2007, forecasts Sheikh Ahmed

Delivering the keynote address at the inaugural Middle East Business Aviation conference held at Le Meridien Dubai, His Highness said: "Currently it is estimated that around 250 private jets are operated in the GCC - and our forecasts are that this should reach 300 by the end of next year.

"The Middle East is emerging as a key market for executive aviation, with growth estimated by as much as 22% in some months."

His Highness said demand would fuel change and enhance competition in the local business aviation scene.

"Joint ventures and partnerships will be the order of the day in the coming years.

"As the industry grows, so will the competition -but that's something we in the Middle East thrive on, believing it develops the market more quickly - and it is interesting to note that key regional banks are now becoming more open to the financing of private jets."

But Sheikh Ahmed warned the business aviation operators that scheduled carriers would also be eyeing parts of their business.

"I expect the established carriers will also compete in this sector. I suspect you will see further investment in premium product development by scheduled carriers as they strive to secure customer loyalty and win increasing numbers of executive travellers."

A one-day conference, MEBA, which was attended by upwards of 300 delegates, was launched to address the requirements of the growing business aviation market. Organised by Fairs & Exhibitions (F&E), which is the name behind the Dubai air show, Sheikh Ahmed said the initiative was timely.

"It struck me very forcefully as the right event, in the right place at the right time.

"I was extremely confident of the success of this first MEBA conference - and the support that both the regional and international industry has lent, combined with the turnout today has justified my optimism. This optimism I know is shared by MEBA's host Royal Jet and its Chairman, His Highness Sheikh Hamdan Bin Mubarak Al Nahyan, the UAE Minister for Public Works, who also lent his valued patronage to the conference."