News

Official launch of Faisal Aviation

Faisal Aviation—a new private jet charter company—was officially launched in Dubai last Wednesday.

The $40 million company is based at Sharjah International Airport. Faisal Aviation will charter private jet flights using a Gulfstream G200, a large-cabin, mid-range aircraft.

The company bought the jet for $20 million last November from Gulfstream. In addition to that jet, company spokespersons said that they will be receiving a Challenger 604 within the upcoming weeks.

Ebrahim Ahram, Faisal Aviation director of flight operations, said that the company will base the second aircraft in Vienna, Austria, to target the Far East and Eastern Europe markets.

“The market [for business travel] still looks good. People still have to move,” Ahram commented, “We are hitting the Far East market because there is more activity there, even with the financial crisis.”

According to Faisal Aviation execs, they will also be working with Gain Jet and Direct Air to set-up offices in Syria.

“We have steady clients but things have slowed down now. The demand is still there. All you have to do is instead of flying four times a month, now fly two times a month,” said Ahram.

Business aviation in UAE has been recording steady growth rates, despite the recession. The regional private jet industry is expected to grow an annual rate of $500M to $800M until 2012.