Abu Dhabi's Prestige Jet buys 3 corporate planes

Company aiming for more than 20 aircraft by 2009, says utilisation 40% above target.
Abu Dhabi's Prestige Jet buys 3 corporate planes
By Mohamed Ezz Ed-Din
Wed 10 Sep 2008 12:13 AM

Abu Dhabi-based private company Prestige Jet said on Tuesday it added three corporate aircraft to its fleet to meet increasing demand for high-end charter services.The addition of the Cessna Citation Sovereign , Challenger 604 , and Embracer Legacy 600 , raised to 11 a fleet, which Prestige Jet plans to double by 2009, the company said in a statement.

"This summer period has witnessed an increase in demand for our aircraft, with the utilisation of the airline's fleet... running on average at 40 percent above target," said Faris Deeb, Prestige Jet's managing director, in the statement .

A source close to the company told newswire Reuters that Prestige Jet will finance 30 percent of the deal with local and regional banks, without giving details.

Prestige Jet was set up in 2007 by Abu Dhabi's private Al-Yasi Group. (Reuters)

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