Dubai: French aircraft maker Dassault Aviation is upbeat about business prospects in the Middle East despite low oil prices, a top executive of the company said in Dubai on Tuesday.
“The region is growing. Oil is a problem but at the same time all the countries are making changes to depend less on oil. We see positive opportunities in the Middle East,” said Renaud Cloatre, regional sales and marketing director at Dassault Aviation speaking to Gulf News at the Middle East and North Africa Business Aviation Association show.
Gulf economies are focusing on diversification as oil prices drop in the last few years. The UAE is planning to reduce its dependence on oil revenue and increase the contribution of manufacturing sector.
Other countries like Saudi Arabia have also announced plans to open up the economy for more foreign direct investment as low oil price hurt its economy.
“We are looking at the future. It’s a very strong company with dedicated clients. Travel industry is going to grow in future with more people travelling.”
The company has 70 business jets flying in the Middle East currently with Saudi Arabia being the biggest market followed by the UAE and other countries.
Globally, the aviation firm has 2100 business jets with 1300 operators with 60 per cent of the fleet being operated in the US.
The company’s ultra-long range business jet Falcon 8X made its debut at the Mebaa show on Tuesday. According to the company, the first delivery of Falcon 8x took place in mid-November following its certification by the UAE’s GCAA.
“The delivery of a Falcon 8X to a regional operator — barely a month after the entry into service of the first aircraft — says a lot about the important role the Middle East is expected to play in the success of our new flagship,” he added.
