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EXECUJET MIDDLE EAST PROFILE

Andrew Hoy, Managing Director, ExecuJet Aviation Trading is optimistic about aircraft trading in the Middle East. “In terms of the market right now, China is of course the number one target territory, but there remains plenty of confidence in the Middle East also. There is certainly a good deal of opportunity to be had if you seek it out, and we’ve never been busier,” Hoy explained.

AvBuyer   |   1st January 2011
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Andrew Hoy, Managing Director, ExecuJet Aviation Trading is optimistic about aircraft trading in the Middle East. “In terms of the market right now, China is of course the number one target territory, but there remains plenty of confidence in the Middle East also. There is certainly a good deal of opportunity to be had if you seek it out, and we’ve never been busier,” Hoy explained.

From an aircraft sales point of view, ExecuJet is on a roll with many enquiries coming from recommendations from previous clients around the world. In the Middle East, ExecuJet is becoming as dependable for its aircraft sales expertise as for the first-class service it offers through its charter activity and its thirteen FBOs. The business now has a global footprint through its international offices and Hoy himself relocated from the UK to Dubai earlier in the year to be closer to his customers.

This is paying dividends: there is a lot of emphasis on face-to-face contact in the Middle East, he outlines. Once trust is built, there is willingness for repeat business. Despite the impact of the Arab Spring on Business Aviation, and some operators flying less hours there remains a buoyant market in the financing of aircraft sales within the region. This is mainly because the aircraft traded in the region are primarily midsize to wide-body $25 million-plus units, appealing to high net worth individuals or established corporate operator buyers.

The important association of status with the ownership of a BBJ or Global Express-size business jet in the region keeps prices strong - and during these past six months values have even begun to creep upwards again. The main players for financing locally include Beirut Bank and GE, while Guggenheim is pushing hard into the territory at present.

Last month ExecuJet reported a much stronger sales year for 2010/2011 than in 2009/2010 (up almost 100%) and the company predicts the trend will continue well into 2012. This year ExecuJet delivered an all-new Challenger 850 and a 605 to the region. Both have been added to ExecuJet’s managed fleet, enabling it to demonstrate to clients the turnkey solution it offers (from sourcing aircraft, working with the client through the funding/financing, registration, paperwork and regulations hurdles and into a supportive management arrangement)

As well as highlighting the Middle East and China as significant growth areas, ExecuJet is also witnessing plenty of activity in the Stahns and sub-continent, and cites the respective Government bodies as being influential in this growth area. Indian clients are actively buying, but there is a trend towards registering the aircraft outside of India while the infrastructure grows in accordance with the demands of the owners.

Earlier this year ExecuJet opened an FBO in Turkey to bridge the gap between Europe and the Middle East, and this is proving to be an interesting new market. ExecuJet Turkey is currently talking to a private customer about a fleet of pre-owned aircraft. The Turkish office is also receiving many enquiries for single aircraft purchases, another growth area predicted.

Now in its 11th year of operations in Dubai, ExecuJet Middle East employs around 240 staff in total locally. An additional 30 employees, primarily flight crews, were recruited in January alone. “For aircraft sales we will continue to explore opportunities, but we are also mindful of growing too big, too quickly,” Hoy concluded. “The future is bright in the ME region.”

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