Nearly 293 mid to large private jets were delivered to the Middle East between 2006 and 2015, with an estimated combined value of over $14.65 billion, according to research from Global Jet Capital.
Global Jet Capital says private jets typically cost between $25 million and $75 million each, and up to 80% of the funding used to purchase these is sourced through external financing.
The largest number of deliveries were to Turkey (77), followed by the United Arab Emirates (63) and Saudi Arabia (58).
A survey of over 200 business aviation professionals commissioned by Global Jet Capital reveals that over the next three years, 41% expect this market to become more attractive, compared to 13% who believe it will become less appealing.
Over the next 10 years, Global Jet Capital estimates that as many as 350 new business jets could be delivered to the Middle East worth an estimated $10.5 billion. It believes that 220 of these jets could be medium to large in categories.
Global Jet Capital data reveals that there is currently 739 business jets in the Middle East.
Launched in 2014, Global Jet Capital is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners; The Carlyle Group; and AE Industrial Partners. In January 2016 Global Jet Capital completed the purchase of GE’s corporate aircraft lease and loan book in the Americas.
The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.