New research from Global Jet Capital, a global provider of financing solutions for corporate aircraft, reveals there are around 73 aircraft of this size for sale in the Middle East, with a combined value of around $939 million. Some 26 of these aircraft are registered in the United Arab Emirates, and 23 are in Saudi Arabia. The remainder is spread out across the Middle East.
The findings reveal that in total, there are around 732 midsize, large and airliner-sized private jets in the region, meaning that around 10% of the fleet is currently on the market for sale. Global Jet Capital, which has over $1 billion to lend to clients purchasing business jets, says the bulk of these purchases will be based on leases and loans. The company currently finances over 200 business aircraft for clients.
The aircraft Global Jet Capital funds typically cost between $25 million and $75 million each, and it says up to 80% of the funding used to purchase these is sourced through external financing. Simon Davies, Global Jet Capital’s Sales Director for the Middle East, said: “Many potential clients in the Middle East are looking to upgrade to a more modern aircraft, and we can help them finance their new jets. Some 350 business jets are expected to be delivered to the Middle East over the next 10 years."
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