Private jet market expected to grow by 20%

International Air Charter (IAC) predicts the regional market to expand between 15 to 20% this year, driven strongly by the increasing use of chartered jets by the region's affluent in lieu of commercial airline services, it said.

IAC revealed that the Middle East market offers great long-term potential that will enable the company to achieve its targets in 2009, sustaining IAC's growth trajectory as it builds on an impressive 40% growth in 2008.

Elie Abdo, Managing Partner - Middle East, International Air Charter, said: “IAC's charter jet services have been designed to enable our VIP customers to benefit from instant access to a reliable, fast, luxurious and hassle-free transport solution that can bring them to any destination around the world. Moreover, there is a growing awareness about the practical value of using private aircraft charters as customers can certainly enjoy a range of premium value-added benefits.

“The Middle East has emerged as the new frontier for our growth initiatives as an increasing number of the region's elite and affluent are shifting to our charter jet services as a convenient means of transport. We have particularly noted a significant increase in traffic between the Middle East and Europe and we intend to leverage our strong presence in key European destinations to deliver the most convenient and flexible services to our Middle East clients, who have certainly shown great satisfaction for the enhanced privileges and more personalised and customised services that they get compared with regular commercial airline offerings. Moreover, with a whole range of aircraft readily available, availing of our charter services is like owning your own fleet,” Abdo said.