National Air Services (NAS) has announced plans to invest millions of dollars in expanding the NetJets Middle East (NJME) fleet in the next five years.
The private Riyadh-based aviation company has also renewed its agreement with NetJets. Taher Agueel, CEO of NAS, said: “We will invest more than US$800m in expanding the NetJets Middle East fleet in the Middle East over the next five years.
“Growth in the Middle East market is estimated at almost 8% annually, and this investment will enable NAS to serve the ever increasing demand for private and executive aviation services in the Gulf region.” Agueel added that fractional aircraft ownership is “poised for increased regional growth” in 2007.
NetJets Middle East is an operating business division of NAS, based in Jeddah, Saudi Arabia. NAS and NetJets launched the NJME programme in 1999. Since then, NetJets’ has provided private aviation services to business executives in the Gulf and the wider Middle East region. The NJME fractional aircraft ownership programme allows individuals and companies to buy a portion of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice.
Vincent Santulli, chairman of NetJets Middle East, said that the business was “very proud” of its growing reputation in the region.
“For customers wishing to fly to, from or within the Middle East, NJME offers guaranteed availability of aircraft, access to the NetJets fleet worldwide, world-class service and an unparalleled safety record — all with none of the responsibilities of managing a fleet.
“Our renewed partnership with NAS will enable NJME to continue serving the private aviation needs of the growing Middle East region.”
The NJME programme is operated under the same principles as the NetJets programme in the US, which was created in 1986 by NetJets chairman and CEO Richard Santulli and regarded as the world’s first fractional aircraft ownership scheme.
Follow us on
