Royal Jet Foresees Rapid Growth

 - March 28, 2008, 6:07 AM

Abu Dhabi-based executive charter operator Royal Jet plans to double the size of its fleet by 2013, which will mark the fast-growing operator’s 10th anniversary. By then it expects to have two dozen aircraft and predicts that the total will reach 50 by 2020. Annual revenues are projected to reach $500 million within five years. Royal Jet currently operates five Boeing Business Jets–making it the world’s largest single operator of the type–a pair of Gulfstream G300s, a GIV-SP, two Learjet 35s, a Learjet 55 (with a medevac cabin) and a British Aerospace Avro RJ85. The Middle East charter market is currently seeing growth of between 25 and 30 percent each year, and Royal Jet believes this growth rate will reach 40 percent annually over the next five years, with much of this concentrated in Saudi Arabia and the United Arab Emirates.