DUBAI // The Middle East Business Aviation Association (MEBAA) believes deals at next week's business-jet air show in Dubai will top last year's total sales of US$907 million (Dh3.33 billion).
This optimistic forecast comes despite jet order cancellations by regional chartered-flight operators and difficulties in raising finance for aircraft.
With this year's show three times the size of last year's debut event, business-jet makers are seeking lucrative deals in the region to compensate for declining sales in Europe and North America.
MEBAA estimates 5,000 people will attend the three-day business-to-business exhibition, and predicts the regional business aviation sector will grow 15 per cent annually for the next five years.
"The financial crisis has not directly affected the business-jet market. The orders were placed years ago," said Ali Ahmed al Naqbi, the founding chairman of MEBAA. "We expect to see new aircraft orders placed during the show. There will be more regional buyers."
However, Amar Balker, the chief executive of MEBAA, admitted that there had been some cancellations by the chartered-flight operators on previous orders, and that regional banks were finding it difficult to finance the purchase of aircraft.
"We have learned from the operators and manufacturers about some cancellations," he said. However, he did not say how many orders were placed during the past year, nor did he reveal the scale of cancellations.
"We don't have full figures yet. We will have them when we meet the operators and manufacturers at the show," he said.
According to Mr Balker, there were few regional banks financing the purchase of business jets. Most of the funds were raised from European and North African financial institutions.
Mr Naqbi said: "There were some casualties in the business due to funding problems and high oil prices, but many more new names have entered the market. A lot of airlines are also starting their own chartered services, so growth of the business-jet sector is not in question."
According to MEBAA data there would be 14,000 new business jets delivered between this year and 2018 at a combined value of $3bn. Last year was the first time that 50 per cent of the aircraft sales had taken place outside the US. A major portion of those were in the Middle Eastern and North African markets.
"The chartered-flight sector has grown rapidly here. There was one operator in the region between 1975 and 1998, and now we have 22 operators," Mr Naqbi said.
There are 500 business jets operating in the region, of which 50 per cent are operated from Saudi Arabia and the UAE. "We expect this number to double within the next six years, but it will all depend on the availability of finance and the economic situation," he said.
The air show will involve 250 exhibitors from 29 countries. It will have 79 aircraft on display, ranging from the very light jets used for air taxis to long-haul corporate aircraft.
skhan@thenational.ae
European arms
Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons. Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.
The bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
MATCH INFO
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
Jebel Ali Dragons 26 Bahrain 23
Dragons
Tries: Hayes, Richards, Cooper
Cons: Love
Pens: Love 3
Bahrain
Tries: Kenny, Crombie, Tantoh
Cons: Phillips
Pens: Phillips 2
Company%20profile
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
RESULTS
6pm: Al Maktoum Challenge Round-2 – Group 1 (PA) $55,000 (Dirt) 1,900m
Winner: Rajeh, Antonio Fresu (jockey), Musabah Al Muhairi (trainer)
6.35pm: Oud Metha Stakes – Rated Conditions (TB) $60,000 (D) 1,200m
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7.45pm: Firebreak Stakes – Group 3 (TB) $150,000 (D) 1,600m
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8.20pm: Al Maktoum Challenge Round-2 – Group 2 (TB) $350,000 (D) 1,900m
Winner: Hot Rod Charlie, William Buick, Doug O’Neill
8.55pm: Al Bastakiya Trial – Conditions (TB) $60,000 (D) 1,900m
Winner: Withering, Adrie de Vries, Fawzi Nass
9.30pm: Balanchine – Group 2 (TB) $180,000 (T) 1,800m
Winner: Creative Flair, William Buick, Charlie Appleby
Company%20Profile
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Results:
Men's wheelchair 800m T34: 1. Walid Ktila (TUN) 1.44.79; 2. Mohammed Al Hammadi (UAE) 1.45.88; 3. Isaac Towers (GBR) 1.46.46.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY%20PROFILE%20
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The%20specs
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The biog
Job: Fitness entrepreneur, body-builder and trainer
Favourite superhero: Batman
Favourite quote: We must become the change we want to see, by Mahatma Gandhi.
Favourite car: Lamborghini
'The Last Days of Ptolemy Grey'
Rating: 3/5
Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro
Writers: Walter Mosley
Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins
Company%20profile
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COMPANY%20PROFILE
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The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
COMPANY%20PROFILE
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million