Many aviation majors were at MEBA 2010. There was a stunning array of aircraft ranging from very light jets to corporate jetliners from top manufacturers such as Airbus, Boeing, Bombardier, Cessna, Embraer and Gulfstream

The Middle East is slowly bouncing back. Testimony to that has been the enhanced interest generated in the aviation sector, a key sector in the region, by different players. The recently concluded Middle East Business Aviation 2010 (MEBA 2010) event in Dubai was a pointer in this direction. The event was big, having attracted 338 exhibitors from 33 countries. Over 50 business aircraft were on display and there was new found enthusiasm in the region.

Consequently, industry experts revised the forecast for the region, predicting 10 to 15 per cent growth over the next four years for a market that currently has 450 business jets, spurred mostly by two dominant economies—the United Arab Emirates (UAE) and Saudi Arabia. The two countries account for nearly 70 per cent of the regional business growth.

Frost and Sullivan has reported that the Middle East will get over 450 business aircraft by 2018, of which Saudi Arabia alone will buy more than 150, about 37 per cent of the market potential, followed by the UAE (24 per cent). The report expects a compound annual growth rate of 6.21 per cent in business aircraft movements, touching 1,60,000 by 2018.

Excited about such potential, the Managing Director of F&E Aerospace (organisers of MEBA 2010), Alison Weller said that business aviation companies from across the globe evinced “strong interest” in MEBA 2010.

“With a recent report predicting an annual growth rate for the Middle East business aviation market of over six per cent the next 10 years, the region will surely see an increase in business aviation service providers to cater to this demand,” she said and reminded how MEBA 2008 had reportedly struck deals worth $1.5 billion (Rs. 6,750 crore).

There is a big spurt in demand for private jets from corporations, high net worth individuals (HNWI) and other agencies. The Middle East, especially the UAE, has been witnessing a growing demand for private charter flights as the responsibilities of top executives based in the region involve quick and frequent trips abroad. Ali Al Naqbi, the founding Chairman of MEBAA, said that the number of registered Middle Eastern business jets has risen by 30-40 per cent over the last couple of years to around 500 aircraft, of which 114 are based in Saudi Arabia, with 78 registered in UAE. From 1975 to 1998, there was one business jet operator, now there are over 25.

Many aviation majors were at MEBA 2010. There was a stunning array of aircraft ranging from the very light jets (VLJs) to corporate jetliners from top manufacturers such as Airbus, Boeing, Bombardier, Cessna, Embraer and Gulfstream were on static display at the world’s third largest business aviation show.

Bombardier clinches orders worth $285 million

The leading manufacturer of bizjets closed purchase agreements worth $285 million (Rs. 1,280 crore) at list price during the show. This included a firm order by Comlux The Aviation Group for two Bombardier Global 7000 business aircraft worth $130 million (Rs. 585 crore) at list price.

“We were honoured to have Comlux endorse the Global 7000 and Global 8000 aircraft at the recent launch, and it is fitting that now, here at MEBA, they are ratifying their order for two Global 7000 jets,” said Bob Horner, Senior Vice President, Sales, Bombardier Business Aircraft.

Bombardier also received a firm order for five mid-size Learjet 85s and two large-cabin Challenger 605 jets, worth a total of $155 million (Rs. 698 crore) at list price, from multiple companies of the same group, for principal operation in Germany by Munich-based Jet Air Flug.