Business aviation professionals are optimistic about ME private jet market
New research from Global Jet Capital, reveals that 59% of business aviation professionals believe the Middle East private jet market is currently attractive for finance companies. Only 15% think it is unattractive.
The survey of over 200 business aviation professionals reveals that over the next three years, 41% expect this market to become more attractive, compared to 13% who believe it will become less appealing.
Over the next 10 years, Global Jet Capital estimates that as many as 350 new business jets could be delivered to the Middle East worth an estimated $10.5 billion. It believes that 220 of these jets could be medium to large in categories, which are the types it prefers to finance.
Analysis by Global Jet Capital reveals that there is currently 739 business jets in the Middle East.
|Type of private jet||Number of aircraft of this type in the Middle East|
|Medium sized jet||537|
|Very light jet||3|
“We specialise in funding the purchase of mid to large private jets, and these typically cost between $25 million and $75 million each.”
Simon Davies, Global Jet Capital’s sales director for the Middle East said: “We specialise in funding the purchase of mid to large private jets, and these typically cost between $25 million and $75 million each. Up to 80% of the purchase price is sourced through external financing and if over 200 of these aircraft are going to be delivered to the Middle East between now and 2025, this becomes an increasingly attractive market for us.”
Global Jet Capital’s research among business aviation professionals reveals that 51% expect the availability of finance for the global business aviation sector will increase between now and 2019, with 8% predicting the increase to be dramatic. Just 21% expect the level of funding to purchase business aircraft to fall over the period, with 23% believing that it will remain at current levels until 2019.