Times of Oman
Jun 25, 2017 Last Updated at 18:23 AST
Oman has 15 registered private jets
November 8, 2015 | 5:39 PM
by A. E. [email protected]
Some 19 of these aircraft are registered in Saudi Arabia, and 18 are in the United Arab Emirates. The remainder is spread out across the Middle East. Photo - Bloomberg News
 
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Muscat: Oman has 15 mid-to-large sized private jets registered in the country, according to a research report released by Global Jet Capital. Of the 15 jets, one is for sale.

The findings reveal that in total, there are around 559 mid- to large-sized private jets in the Middle East and North Africa (Mena) region, meaning that around 11 per cent of the fleet is currently on the market for sale.

Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, reveals there are around 62 aircraft of this size for sale in the Middle East, with a combined value of around $646.9 million.

Some 19 of these aircraft are registered in Saudi Arabia, and 18 are in the United Arab Emirates. The remainder is spread out across the Middle East.

The aviation finance specialist, which recently agreed to purchase the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas representing approximately $2.5 billion of net assets, has around $1billion to lend to clients to purchase relevant business aircraft in the Middle East and elsewhere around the world.

The aircraft Global Jet Capital funds typically cost between $25 million and $75 million each, and it says up to 80 per cent of the funding used to purchase these is sourced through external financing.

“Over the long term, we expect to see growth in the sale of mid- to large-sized business jets in the region, and we are well positioned to meet the finance demand to help facilitate this,” said Shawn Vick, executive director of Global Jet Capital.

“Many potential clients will be looking to upgrade to a more modern aircraft, but as the region’s wealth increases, we expect to see more first-time buyers.”

Global Jet Capital, which was launched last year, is capitalised by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners; The Carlyle Group; and AE Industrial Partners.

The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.


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