Royal Jet to overhaul fleet in $1b exercise

Abu Dhabi: Royal Jet on Tuesday announced that it will replace the nine jets it operates with 11 new aircraft at a cost of $1 billion (Dh3.67 billion).

The an international luxury flight services company, which is jointly owned by Abu Dhabi Aviation and the Presidential Flight Authority, said the exercise will take place during a five-year period from 2015 to 2020.

“In order to position Abu Dhabi globally on the world tourism and business maps, we will buy 11 new jets to replace the current nine which are operating right now. We have proposed a budget of $1 billion for that and the final decision on this matter has to be taken by the board,” Shane O’Hare, president and chief executive officer of Royal Jet, told Gulf News on the sidelines of celebrations to mark the company’s 10th anniversary.

Fahd Wali, chief commercial officer at Royal Jet, told Gulf News that Royal Jet is currently renovating its fleet of nine jets.

“As of the beginning of 2015, the company will receive two brand new aircraft. With this the company will have 11 aircraft. Then we will start replacing the old planes with new ones to meet the increase in demand [for] luxury flights,” Wali said.

O’Hare said this year’s turnover will top $160 million, rising by 6 per cent compared to 2012.

“This is attributed to the expansion process and to the hiking demand [for] private jet businesses,” he said.

“This year it is expected that the private jet business in the Middle East and North Africa region to grow by 6 per cent,” O’hare said, describing the market as “maturing” and adding that Royal Jet are the strongest player in the region.

The company was set up in 2003 with 57 employees, one Boeing Business Jet (BBJ) and two Gulfstreams. Now the company has 331 employees from 57 nationalities and a fleet of nine aircraft.

“When Royal Jet was established government flights consisted 80 per cent of the company’s businesses. Right now, things are quite different: 55 per cent for corporate businesses, 25 per cent for government and 20 per cent for Medevac missions. We flew 333 patients last year as part of our Medevac missions and are increasingly being referred to as the Medevac operator of choice for emergency situations,” O’Hare said.

Wali, the company’s chief commercial officer, said that by end of 2013, Royal Jet will be moving from Abu Dhabi International Airport to Al Batween Executive Airport.

“Working hand in hand with Abu Dhabi Airports Company, Royal Jet will be moving to Al Bateen Executive Airport by end of 2013. This will provide all line maintenance facilities and will include office space, aircraft parking, VIP terminal facilities and land for future development of Royal Jet’s operations,” he said.