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Gulfstream Aerospace celebrates flight test program milestone

Gulfstream Aerospace has reflected on the first ten flight tests for the Gulfstream G500 and Gulfstream G600 jets. The jets are twin-engine, with the G500 replacing the G450. The G500 has a range of 5,000 nautical miles (9,260km) at Mach 0.85, with nonstop flights connecting distant cities such as Istanbul to Cape Town, Los Angeles to London, and San Francisco to Tokyo. The G600 can fly 4,800 nautical miles (8,890km) at a high-speed cruise of Mach 0.90, and seats up to 19 passengers, with room for nine to sleep.

19th September 2017



Dassault's Falcon 5X jet takes its first flight

Fractional-share provider PlaneSense has completed a five-yearly functional test of its emergency fire extinguishing system in its 40,000ft2 hangar at its Portsmouth International Airport headquarters in New Hampshire.

29th August 2017

This month (October), Business Airport International would like to know, which of these statements best describe your awareness of GDPR?

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Global Jet Capital investigates Middle East market

Global Jet Capital, a global provider of financing solutions for corporate aircraft, has been conducting its own research into the growing business aviation market in the Middle East. Its findings show that there are around 73 mid to large private jets for sale in the region, with a combined value of US$939m, and that 59% of business aviation professionals believe the market to be attractive currently for finance companies.

Of the 73 aircraft for sale, Global Jet Capital found 26 registered in the UAE, with 23 in Saudi Arabia, while the remainder spread out in countries including Turkey and Kuwait. The findings also show that in total, there are around 732 mid-size, large and airliner-size private jets in the region, which means roughly 10% of the market is currently for sale. The bulk of these purchases will be based on leases and loans.

In terms of the attractiveness of the market, Global Jet Capital surveyed 200 business aviation professionals, and discovered that over the next three years 41% expected its appeal to increase and 13% said it would decrease. While 59% called the regional market attractive, 15% said it was currently unattractive.

Simon Davies, Global Jet Capital’s sales director for the Middle East, said, “Many potential clients in the Middle East are looking to upgrade to a more modern aircraft, and we can help them finance their new jets. Some 350 business jets are expected to be delivered to the Middle East over the next 10 years.

“We specialize in funding the purchase of mid to large private jets, and these typically cost between US$25m and US$75m each. Up to 80% of the purchase price is sourced through external financing and if over 200 of these aircraft are going to be delivered to the Middle East between now and 2025, this becomes an increasingly attractive market for us.”

December 13, 2016

 


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