KSA’s private jet market on growth mode
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The Kingdom of Saudi Arabia will soon have close to 480 private aircraft within the next five years compared to the current 240, as reported by Al-Eqtisadiyah.
The Middle East and Gulf region has the highest growth rates in private aircraft globally at an annual rate of eight percent compared to global projected rate of six percent, said Faisal Ghazi Kayyal, CEO of Saudia Private Aviation (SPA).
Kayyal mentioned that number of private aircraft at the global level reached 15,000 by beginning of 2015 and is expected to double to 30,000 by 2020. Meanwhile, number of private aircraft in the Middle East region is projected to hit 800 from their current number of 400, he said.
Kayyal further added that the Kingdom market represents 60% of the Middle East private aviation market.
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