The business jet market involving key-players like Boeing, Airbus and Bombardier are targeting the Gulf buyers for trade involving million dollar aircraft purchase agreements.
The Middle East Business Aviation (MEBA) show, which took place from 7-9 December, 2010 reflected the region´s strong business aviation industry, attracting over 6,000 visitors from 77 countries.
"It is a case of see, buy and fly in the Middle East market, which is the world´s most important for top-of-the-line and wide-body corporate jets," said John Leahy, Airbus´ Chief Operating Officer.
The company recently reported a delivery of more than half of its corporate jets in 2010 to Persian Gulf clients. In fact, the only privately owned Airbus A380 jet belongs to a billionaire from Saudi, Prince Alwaleed bin Talal.
At MEBA this year, a number of deals and purchases were made including a 5 million agreement between Bombardier Aerospace and two middle-east firms.
One of the firms ordered for two Bombardier Global 7000 business aircraft, in a deal worth 0 million at list price while a second one ordered for five mid-size Learjet 85s and two large-cabin Challenger 605 jets, worth a total of 5 million at list price.
The concept of "fractional jet" ownerships has also witnessed a rise in the region. With a number of companies like Cessna offering options for fractional ownerships, growing interest is seen among Gulf clients in investing in the business jet market.
Business Aviation has truly “taken it on the chin” over the past 2 years. A combination of poor public perception, endless negative press and an historic recession had left business aviation in one of its worst downturns in recent memory