Gulfstream Lands Middle East Order

AINalerts » May 23, 2007
May 23, 2007, 11:40 AM

Gulfstream kicked off EBACE with an order for three G450s (and options on another 17) from National Air Services (NAS) of Riyadh, Saudi Arabia. The agreement, potentially worth more than $650 million if all options are exercised, calls for delivery of the first aircraft in the third quarter of 2009. Deliveries will continue for the following five years. NAS ordered three G450s in 2005 for delivery before the end of this year. "The Gulfstream deal is crucial for NAS's future fleet plans and a landmark for our company," said CEO Taher Agueel. As the only licensed private aircraft operator in Saudi Arabia, NAS directs four business units: fractional-ownership operations as the Middle East representative of NetJets; aircraft management services; Al Khayala airline, a scheduled all-business-class service between Riyadh and Jeddah, and to Dubai; and NAS Air, a low-cost domestic carrier. Gulfstream president Joe Lombardo said the next available delivery slot for a new G450 is in the fourth quarter of 2010.

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