Dubai Aerospace Enterprise (DAE) has arranged $800 million in loans and revolving credit to fund “general corporate purposes.” The fresh capital, available on a three-year term, has come from a group of banks including Citibank, Deutsche Bank, Emirates Bank International, Lloyds TSB Bank and Noor Islamic Bank.
United Arab Emirates
Al Jaber Aviation’s $1.2 billion order for 21 new aircraft placed during November’s MEBA show in Dubai confirmed the business aviation industry’s hopes that rising demand in the Middle East will compensate for slowing sales in western markets that are more directly affected by the ongoing financial crisis.
Falcon Aviation Services is opening a Sikorsky S-76 customer support center in Abu Dhabi, the first in the Middle East. The company is a provider of helicopter charter and maintenance services based in Abu Dhabi, United Arab Emirates.
Bell 212, Persian Gulf, United Arab Emirates, Sept. 3, 2008–All seven people aboard the Aerogulf Services Bell 212 were killed when the helicopter hit a crane while taking off from an oil rig in the Persian Gulf. The helicopter had flown cargo from Dubai. After unloading the cargo, it lifted off the helipad, hovered and moved backward into the crane.
Avjet has partnered with Executive Aircraft Sales of Abu Dhabi, UAE. The alliance, which expands Avjet’s global presence into Dubai, Abu Dhabi and Moscow, will focus on sales, acquisitions, management and charter operation of large-cabin aircraft, including the BBJ, Gulfstreams and Globals.
ExecuJet Middle East is planning to expand its maintenance capabilities in Dubai with a new maintenance facility at Dubai World Central’s Al Maktoum International Airport. The new airport is just part of the DWC complex, which covers 54 sq mi and includes the airport and residential, golf and business zones.
Al Jaber Aviation (Stand No. 415) yesterday unveiled details of its entry into the VIP and corporate aviation market and announced a $1.2 billion investment for the acquisition of no fewer than 21 aircraft. The first of its mixed fleet of large-cabin aircraft will enter service in February 2009 and will be based at the AJA initial base at City Airport Abu Dhabi (the former Al Bateen military air base).
New business announced on the first day of MEBA 2008 vastly exceeded expectations with fast-approaching $2 billion worth of new aircraft orders announced in just a few hours yesterday. The sales stampede has set MEBA on course to become the true fulcrum for the world’s fastest growing business aviation marketplace.
Real Executive is to start a new venture in the United Arab Emirates based at the City Airport Abu Dhabi. There it will be partnered with Elite Aviation and initially draw on the existing fleet comprising a Challenger 601 and Falcon 900EX Easy. These will shortly be joined by a Global Express and Gulfstream 200 and there are plans to add a Gulfstream 150 in January.
Dubai Airports unveiled the new branding of its Executive Flights Centre during the first day at MEBA, and also revealed that part of the first terminal being built at the new Al Maktoum International Airport at Jebel Ali (also known as Dubai World Central) will be reserved for corporate aviation.