Global Jet Capital: Mideast Bizav Fleet Ripe for Upgrade | Aviation International News

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Global Jet Capital: Mideast Bizav Fleet Ripe for Upgrade

Global Jet Capital Survey finds 10 pc of fleet for sale as owners look to trade up

About 10 percent of the Middle East’s corporate aircraft fleet of midsize and large-cabin business jets and private airliners, worth almost $1 billion, is currently for sale, according to new research from financing firm Global Jet Capital (GJC). (Photo: David McIntosh/AIN)

By James Wynbrandt • Contributor - Business Aviation

December 7, 2016

About 10 percent of the Middle East’s corporate aircraft fleet of midsize and large-cabin business jets, as well as bizliners—worth almost a combined $1 billion—is currently for sale, according to new research released here at MEBAA by financing firm Global Jet Capital (GJC). Based on an analysis of JetNet data, about 732 jets in total are registered in the region and around 73 are on the block, the research finds: Some 26 in the UAE, 23 in Saudi Arabia, 14 in Turkey, the remainder scattered around the region, with their value totaling an estimated $939 million. Many owners of the for-sale aircraft “are looking to upgrade to a more modern aircraft,” said Simon Davies, GJC Sales Director for the Middle East.

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