Mideast business jet travel 'to fly through global crisis'

PRIVATE JETS: Business jet travel will not suffer during the global crisis, an industry chief claims.

Demand for business jet travel to the Middle East will not suffer in the current climate, an industry chief has claimed.

John Pitcher, head of Europe for charter operator Palm Aviation, said travellers seeking “attractive business opportunities” will continue flying to the Middle East region.  

“The US and European markets for private aviation are currently a disaster,” he said. “There has been a very steep drop in aircraft flying hours and in aircraft sales, with many distressed sales coming to the market.

"Conversely, there is still a lot of interest in flying into the Middle East, from operators based in the US and Europe as the region still offers some of the most attractive business opportunities, at this time.”

Palm Aviation executive vice president Mohammad Saideh believes affluent executives will continue boarding business jet flights while searching for business opportunities.  

He added: “The sharp decline, panic, fear and volatility witnessed in the global financial markets during October and November of 2008 was simply unprecedented.

“Such sentiment in the US, Europe and Asia signals a period of brief consolidation to allow the dust to settle, followed by a recovery in business activity as a result of low bank interest rates kick starting the global economy, which will spill over into the Middle East and add further growth to the business aviation market in the region.”

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