By Andy Sambidge
Private Jet Charter sets up in Riyadh, Jeddah as demand grows from kingdom's wealthy customers
Private Jet Charter, one of the world's largest independent jet brokers and consultants, has set up a presence in Saudi Arabia to cater to rising demand from wealthy customers in the kingdom.
Company founder and CEO Hugh Courtenay said Saudi Arabia now commanded half of the air charter business in the Middle East.
"Businessmen in Saudi Arabia make 10-15 charter trips a year on average. This certainly demands a strong presence in such a vibrant private jet market," he said in a statement
Offices have been set up in Jeddah and Riyadh, adding to Private Jet Charter's existing Middle East presence in Dubai.
"Our largest business volumes come from the Gulf due to the strong concentration of high net worth individuals and affluent families and we felt the need to cater to their needs at a closer proximity," Courtenay said.
Private Jet Charter' Saudi presence is the company's sixth in its global network, complementing locations in London, Nice, Dubai, Florida and Moscow.
Courtenay said the demand for private jets in the kingdom was down to the recession that has forced some companies to halt their flight operations or sell off their corporate jets.
"This has encouraged us to make new investments in KSA. The Gulf market offers great long-term potential for us. Our client base of royal families, CEOs, and other members of the region's affluent segment has been steadily increasing."For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.