Saudi Arabia’s NasJet claims it is poised to grow revenues by 20 percent next year, after a healthy 6 percent gain during 2012. The increase, according to CEO Ghassan Hamdan, is due to growing aircraft management and operations support and more local charter agreements and charter business. In the first quarter of 2013, NasJet will open a new FBO at King Khalid International Airport in Riyadh in conjunction with Switzerland’s ExecuJet.
NasJet is one of four National Air Services (NAS) Holdings Group companies, which also include low-cost carrier Nasair, maintenance company Nastech and specialty charter provider Nas Charters, which flies Hajj/Umrah pilgrims into Saudi Arabia.
The company was formed in 1999 and partnered with fractional-share provider NetJets to launch NetJets Middle East. That agreement ended in November 2011, Hamdan explained, and “therefore we decided to make a change in the business model.” With the NetJets partnership, the emphasis was on fractional shares and aircraft leases. Now NasJet focuses on aircraft management, support operations and charter, he said, although the company does still offer fractional shares.
NasJet’s retooling of its business model and diversification of service offerings, he added, “means that our review of the business model has succeeded. During 2011 and 2012, the Egyptian market, which was a high portion of our market, negatively affected business aviation in the region. We are hopeful that the region will start a recovery in 2013. We are hopeful and anticipate that in 2013 we will have an increase of almost 20 percent,” said Hamdan.
The NasJet fleet of about 65 aircraft consists of 25 percent available for charter and the rest managed for company and private owners. During the coming year, NasJet will add a Cessna Citation and a Boeing BBJ to its fleet, and more additions are expected. “Our strategy in general is adding aircraft under the management program,” Hamdan said, “aircraft which can satisfy the needs of the market.”
The new FBO alliance with ExecuJet is part of NasJet’s plan for growth in 2013. “This is also a way to ensure the superior quality of service for clients who use our services in private aviation,” he said. Also important is hiring high-quality personnel. “We have been successful in selecting a super quality staff and this is what we feel is our main advantage–that we provide our clients with super quality service.”
NasJet is not only promoting its products here at Chalet A3 but also taking advantage of the opportunity to meet with other companies and partners. “This is MEBA’s first time in Jebel Ali,” Hamdan said. “Dubai has good experience in organizing these aviation exhibitions and airshows, and we are confident that MEBA 2012 will be another success for the organizers and the exhibitors.” o