Emivest gets a PR boost from Morgan Freeman

Dubai: After taking off from Nairobi, American actor Morgan Freeman flew his new private jet to Dubai on Tuesday. Freeman showed off his new SJ30, manufactured by Emivest Aerospace, a UAE-owned aircraft manufacturer, at a press conference Wednesddayat the Dubai Airport Free Zone.

"It's a really outstanding aircraft," said Freeman, who earned his private pilot's licence in 2002 at the age of 65.

The SJ30 is the world's fastest, longest range and highest flying light jet. It can maintain sea level cabin pressure at 41,000 feet and has a maximum flying altitude of 49,000 feet.

"I travel a lot, and I wanted an aircraft that would do it cheaper and a lot quicker," Freeman said. "I read about the SJ30 and I thought, there it is."

Headed by Emirati Butti Saeed Al Gandi, Emivest Aerospace is a US-based company that was originally known as the Sino Swearingen Aviation Corporation (SSAC), and is today a subsidiary of the Emirates Investment and Development Company (Emivest). In June 2008, Emivest acquired an 80 per cent stake, making SSAC the first company in the Middle East to manufacture private jets.

Investment

Al Gandi said investment in aircraft manufacturing came as a unique investment opportunity.

"We needed to invest in something different," he said. "So the aviation industry was a different investment for us. It was a challenge at the same time. Today I think we proved that we have succeeded."

Freeman's visit to Dubai gave Emivest much publicity for its aircraft manufacturing business.

"It's not really about the airplane itself," said Al Gandi. "It's a statement of success."

To date, Emivest Aerospace has sold four SJ30 aircraft and the company is looking forward to better sales next year. The aircraft has a price tag of $7.4 million (Dh27.18 million) and up, depending on specifications.

Private jets are not a luxury for those who are involved in it, Freeman said.

"It's a big necessity. It's a huge money-saver and time-saver business-wise."

"It's a very economical plane," said Al Gandi, considering the current regional and global economic situation,

When asked about opportunities to expand investment in aircraft manufacturing, he said that Emivest has no plans to expand, but that the company's main target today is to deliver aircraft.

He explained the aviation manufacturing sector is still not as popular in the Middle East as it is in other parts of the world. Business jets need open skies policies to enable a businessman to get on a plane and fly to a four-hour destination.