By Barbara Cockburn
Riyadh-based National Air Services (NAS) is investing $2 billion to quadruple the size of its fleet.
Riyadh-based National Air Services (NAS) is to add 75 aircraft to its fleet, bringing its size to over 100 by 2010, at a cost of over US$2 billion.
NAS, which has investments worth $2 billion, is to initially acquire Airbus, Gulfstream and Raytheon aircraft and a statement from the firm said that the purchase of the 75 aircraft will be financed by a number of Saudi, regional and international investors.
"The company is expanding its target base to include a wide range of customers with varying needs and providing them with innovative services and tailor-made solutions, all delivered at the highest service levels by committed employees," said Ayed Al Jeaid, NAS chairman.