BEXAIR in major Dubai air show deals

The company used the show to announce the addition of two new Citation XLS aircraft to its fleet, in a deal valued at approximately US $24 million and it also signed at the show a Memorandum of Understanding with Canada's Star Navigation Systems Group for the sale and installation of its flagship In-flight Safety Monitoring System (ISMS) for BEXAIR's entire aircraft fleet.

"A formalised contract is expected to be concluded at the end of November the value of which is estimated at around US $1.5 million at list prices," said a Star Navigation Systems Group spokesperson.

And the BEXAIR Group also announced that it has set up its own aircraft leasing company, Arabian Aircraft & Equipment Leasing Co - AAELCO - which not only provides aircraft leasing for its own fleet but now provides services to customers throughout the region.

"We anticipate providing a vehicle for large amounts of Islamic investments via AAELCO, as these kinds of asset-based financing transactions are particularly well suited to Sharia-compliant investing," said Mansour Al-Tassan, Chairman and CEO of both BEXAIR and AAELCO.

The ISMS for which BEXAIR has signed the MOU is the first system in the world to feature in-flight data monitoring and diagnostics with real-time, secure connection between aircraft and the ground, made possible through current technology and satellite transmission.

"Real-time information enables a proactive approach which not only further impacts safety, but also significantly enhances profitability by reducing overall maintenance and operating costs. As an established market leader, BEXAIR is committed to delivering the highest levels of air safety and customer satisfaction, while enhancing operating profitability. Our dedication to passenger safety and comfort is the driving force behind the implementation of the best technology available in the marketplace and the ISMS is cutting edge technology in the aviation industry,"

said Faisal Alam, Head of Maintenance and Development, BEXAIR.

The Star Navigation Systems Group says the BEXAIR MOU is an example of increasing regional demand for its products.

"This announcement is yet another great example of the traction and product acceptance that we are currently experiencing. We are now in discussions with multiple operators and expect to report further progress in the coming days," said the Group's Chairman and CEO, Viraf Kapadia.

The BEXAIR announcements were the latest in four hectic days of business deals at Dubai 2005, which is the largest Dubai air show in the event's history. Some 726 exhibitors from 46 countries and over 100 aircraft, including close to 40 business jets are taking part in the show which is organised by Fairs & Exhibitions (F&E).

And Dubai 2005 has proved to be a record-breaking show in terms of declared on-site business deals with the exhibition's announcement tally now running at US $20.8 billion - over US $5 billion more than the previous record set at Dubai 2001.

Meanwhile, South Korean Prime Minister Lee Hoe Chan is due to visit Dubai 2005 on Thursday (November 24) to support the international exhibition debut of the T-50 Golden Eagle advanced trainer/fighter-lead-in trainer produced by Korean Aerospace Industries.

The T-50, jointly produced by KAI and Lockheed Martin, is performing in the Dubai 2005 daily flying display.

Dubai 2005 is organised by F&E in conjunction with the Department of Civil Aviation, Government of Dubai and in co-operation with the UAE Armed Forces.