EBACE Convention News

Saudi Arabian operator inks $650 million deal for 20 G450s

 - May 21, 2007, 5:57 PM

Gulfstream kicked off its EBACE press conference yesterday with a contract signing for 20 G450s (three firm and 17 options) destined for National Air Services of 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. Other deliveries will continue for the following five years. NAS has another G450 order, announced two years ago, for three aircraft scheduled for delivery  before year-end.

“The Gulfstream deal is crucial for NAS future fleet plans and a landmark for our company,” said CEO Taher Agueel. “We serve an increasingly growing market
and this deal is a demonstration of our commitment toward our customers.”
NAS has its operational headquarters in Riyadh and satellite offices in Jeddah and Cairo, Egypt.

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. The company is showing examples of its G150, G200, G450 and G550 here at EBACE.