The UAE-based Al Habtoor Group is acquiring a Lineage 1000, highlighting a regional investment trend in managed aircraft by companies and high net worth individuals that are servicing pressing international commitments.
Shane O´Hare, president and ceo of the Abu Dhabi-based Royal Jet which handled the acquisition and will provide the management services, says: "Al Habtoor is a prime example of a hugely successful company that is developing globally. It has, for example, entered into a joint venture with Leighton, one of the biggest construction companies in Australia."
Al Habtoor Group has construction, hotel, automotive, real estate, education, insurance and publishing divisions and its chairman Khalaf Al Habtoor was Royal Jet´s first client. O´Hare says: "The Al Habtoor agreement is one of three management contracts that Royal Jet has concluded in just six months. We are talking to six more potential customers and these include not only corporations but high net worth individuals facing increasing travel demands.
"Destinations very often include developing countries where scheduled travel may not be straightforward and we are confident that demand will continue to grow."
Royal Jet, chaired by H.E. Sheikh Hamdan bin Mubarak Al Nahyan, says that the Lineage 1000 was chosen after in-depth due diligence on the purchase agreement, technical specifications and the associated financial, commercial and technical requirements.