Sharjah: Gama Aviation, a business jets servicing company, on Tuesday opened its executive terminal at Sharjah International Airport, marking its phase of a $15 million investment in the airport.
The new terminal, located in the Department of Civil Aviation building, will cater to executive jet customers. It is the only executive jet terminal at the airport.
The second phase will be a hangar facility to be opened by the end of 2015. The hangar will cater to business jets and air medical services. Marwan Khalek, chief executive of UK headquartered Gama Aviation, said the $15 million in funding for the two phases is secured.
Crescent Enterprises and Growthgate Capital injected a combined $7.65 million, or 51 per cent, which is the combined stake the companies hold in Gama Aviation’s Middle East and North Africa (Mena) operations, Khalek said. The two companies own a combined 33 per cent of the global operations.
Khalek said the other 49 per cent of capital came from other investors, local banks and debt financing.
Six aircraft
Gama Aviation will base six owned and managed aircraft at its executive terminal at the Sharjah airport. Khalek said that the terminal will boost Sharjah’s “role in business aviation”.
Gama Aviation has operated out of Sharjah International for two years.
The UK headquartered company is tight-lipped on the number of flights it operates out of Sharjah; some of its clientele include members of the UAE ruling families. However, it said that there has been a 20 per cent month-on-month increase this year on operated flights.
The new terminal will mean that executive jet passengers will be able to pass through customs and passport control and board the aircraft within 15 minutes after reaching the terminal, according to a Gama Aviation representative.
