Abu Dhabi's Royal Jet and Jordanian operator Arab Wings are teaming up on an aircraft management deal in a move that could signal a trend towards more consolidation among the region's major players.
The companies say the agreement, to jointly market an Arab Wings-managed Bombardier Challenger 605, may lead to further co-operation. Arab Wings chief executive Ahmad Abu Ghazaleh says: "We look forward to a profitable and close relationship with Royal Jet... the benefits to the owner of this aircraft are enormous as two companies in different geographical areas will be marketing its chartering.
"In this case two managing companies are really better than one."
Royal Jet chief executive Shane O'Hare said at MEBA that the company, the biggest operator of Boeing Business Jets with five on its books, is embarking on a period of significant growth with plans to open bases throughout the region. Details of these will be announced in coming weeks.
Royal Jet intends to be operating 20 aircraft by 2012 and 50 by 2020, predominantly VIP and super-midsize types.
"We have one of the healthiest balance sheets in the industry and strong liquidity as a company," says O'Hare.
Source: Flight International
