demand likely to rise in middle east for business jets
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Demand likely to rise in Middle East for business jets

Arab Today, arab today

Arab Today, arab today Demand likely to rise in Middle East for business jets

business jets
Dubia - Xinhua

 Providers of executive jets in the Middle East Business Aviation Association (Mebaa) show expected rise in demand for business jets in the Middle East due to the recent oil production cut deal.

Speaking to Xinhua at the ongoing 10th edition of Mebaa show at Dubai's Al-Maktoum International Airport, Manal Obeid, Head of Sales and Marketing at Jordanian business aviation provider Arab Wings, said "the last two years were challenging as the rout in oil prices weighed on the business sentiment in the region."

However, following the agreement by the 13 oil exporting states of the OPEC cartel last Wednesday, oil prices climbed from 45 U.S. dollars per barrel last week to nearly 55 dollars per barrel earlier Tuesday.

"Therefore we are optimistic for 2017. We expect the Gulf Arab economies to recover by next year, hence demand for executive jet services will pick up, too."

According to Japan's Honda Aircraft, whose new HA-420 HondaJet made its debut at the Mebaa, the bizav sector in the region is a 4.85 billion dollar market.

UBS, the largest Swiss bank UBS, said "The energy sector is set to remain an important source of wealth in the years ahead," as diversification in the Gulf states remains "a long road ahead."

Mike Berry, Vice President Middle East at global bizav provider ExecuJet from Switzerland, said while he also expects a recovery, "we see 2017 as a rather flat year as the economic recovery will take time." Therefore, he would see rising demand among the "happy few" from 2018 onward.

David Chang, Director Customer Flight Support at China's Saint Royal Aviation, which is specialized in private jet service in China, said "demand for business jet flights from Mainland China to the Gulf is not so dependent on oil because bilateral trade between China and the Gulf. Since 2014, China is the biggest trade partner of Dubai.

"We do a lot of bizav flights from Beijing to Dubai and Abu Dhabi," said Chang.

Statistics show trade between the UAE and China is expected to hit 60 billion U.S. dollars by the end of 2016, up from 54.8 billion dollars in 2014.

The Mebaa show 2016 which attracted 460 exhibitors from 45 countries along with 50 aircraft on display runs from Tuesday to Thursday.

source: Xinhua

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

demand likely to rise in middle east for business jets demand likely to rise in middle east for business jets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

demand likely to rise in middle east for business jets demand likely to rise in middle east for business jets

 



GMT 12:49 2017 Wednesday ,06 September

Senegal wants to buy 10 units of ship from PT PAL Indonesia

GMT 22:57 2017 Wednesday ,01 March

Trump lays out his vision of America to Congress

GMT 21:08 2017 Sunday ,17 September

OIC condemns suicide attack in Cameroon

GMT 00:59 2017 Sunday ,10 December

hmad Zahid's Visit To Rohingya Camp

GMT 02:25 2017 Friday ,24 February

Pope in emotion-charged visit to Italy quake zone

GMT 22:26 2016 Thursday ,22 September

Indian market closes higher

GMT 05:52 2016 Wednesday ,05 October

Robin Williams’ widow details actor’s final days

GMT 18:42 2017 Saturday ,07 October

Education, Works ministries discuss cooperation

GMT 03:11 2017 Friday ,14 April

5 Sudanese soldiers killed in Yemen

GMT 15:35 2017 Saturday ,25 February

United Nations chief arrives in Saudi

GMT 20:47 2017 Saturday ,07 October

PM asserts to bolster relations with Egypt
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday