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Paras Dhamecha says Empire will have a fleet of 15 aircraft by the end of the year.

Empire Aviation Group has added a Gulfstream G450 intercontinental business jet to its managed fleet of aircraft.

The latest delivery takes its fleet size to 12 jets and the company has confirmed it plans to add further aircraft in 2009.

The Dubai-based company manages a fleet of private jets on behalf of owners, and the Gulfstream has been bought on behalf of a corporation based in the Middle East.

Empire Aviation confirmed that it expects to grow its aircraft fleet to 15 by the end of the year “as the new and pre-owned business jet sales pipeline remains healthy”.

Empire Aviation Group executive director Paras Dhamecha said: “Our asset management approach to aircraft ownership means that we can help the owner to optimise the return on the investment by offering the aircraft to the charter market, which continues to perform well in the Middle East, and offsetting some of the fixed costs of aircraft ownership.”

According to Empire Aviation Group, the current aircraft buying opportunity is especially attractive to private individuals who are cash buyers, as multinational companies continue to downsize and sell off assets.

The company is continuing to work with buyers who are still keen to invest in the sector, Dhamecha said and he confirmed that the company is actively looking around for aircraft on behalf of clients.

“It is a buyers’ market for aircraft right now and this represents a tremendous opportunity. With aviation fuel prices at less than half their peak levels in 2008, and charter prices adjusted accordingly, private aviation continues to hold its own in the region and we are expecting 2009 to be a very strong year for us,” Dhamecha said.

Comments (5)

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Bias towards the UAE?
Posted by W Grigsby, Dubai, UAE on 19 August 2009 at 21:28 UAE time

Could that possibly be because the UAE accounts for over 65% of the passenger and freight movements through the Middle East Region??

Aviation power 50
Posted by Ali on 19 August 2009 at 07:12 UAE time

I do not agree with your list, I believe that its totally biased towards the UAE, the reason is simple. Arabian business is in UAE, hence being biased. if you notice your daily news too biased towards the UAE. If you want to publish such list it should be done by a professional survey firm.

Aviation top 50
Posted by AmaJ, London, UK on 17 August 2009 at 13:48 UAE time

J Marsh,
In terms of it being a subjective list, I'll agree with you, but in order for it not to be a random list of names with no criteria to their ranking makes it a stupid man's guess
As for the baby airlines, I also agree that it is those niche carriers that will be carrying the industry in a new direction, and will probably be much more profitable than the established in the long run, but this list is specifically about influence. By the very nature of the attribute, "new" "niche", whatever you want to call it, it may have the potential for being more influential in the future, but definitely not now, as you say with the current status quo.
By heavy industry executives I mean established airline executives, rather than airport executives. You state that "Airports are more complex, more capital intensive and in most cases face greater challenges than most airlines", maybe, probably not, but maybe. In any case, it is airline chiefs and other aerospace executives that control the planes, the flow of traffic, and every other revenue driver that airports need to operate, and so they have by far more influence. The only bargaining chip that airports have with regards to airlines is the distribution of the slots. This is even less true in the Middle East (where I'm from and have lived most of life) where airports are controlled by their respective ministries of transports who in turn allocate slots based on the political manifesto of the country. Regardless of whether they are tougher to run as you as you say, it doesnt make them more influential.

Aviation Top 50
Posted by J Marsh, Doha, Qatar on 17 August 2009 at 00:20 UAE time

Amaj, it clearly says in the article that it is a (subjective) list of the most influential leaders in Middle East Aviation - the only part of the industry that is not in the dolrums at the moment. And it's the baby airlines with new business models that are taking the industry in a new direction, not the established businesses who are trying to keep their slice of the status quo. And why do you think that airport directors are any less influential than 'heavy industry executives', whatever that means? Airports are more complex, more capital intensive and in most cases face greater challenges than most airlines. Perhaps your view of the Middle East from London is more obscure than those of us who are actually in the region - and the list seems pretty accurate from here.

Aviation top 50
Posted by AmaJ, London, UK on 14 August 2009 at 15:59 UAE time

I believe this list provides an inaccurate and poor assessment of the industry's leaders. How can this list have airport directors more influential heavy industry executives who actually influence the global industry? How is it possible that new baby airlines with CEOs who are equally relatively new to the scene be more influential than other established leaders? More over, some of the personal biographical and professional information shown for the some of the executives are factually incorrect.
Please give an explanation towards how this list came to be. I work in the aviation industry myself, and find it to be close to a joke amongst many of my peers.
Good luck on the next one

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