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Royal Jet Upbeat About 2010 Growth Prospects
DUBAI — Royal Jet is upbeat about prospects for the luxury charter airline in 2010, and expects new revenue from the operation of a $15 million maintenance facility at the Abu Dhabi International Airport.
Royal Jet President and Chief Executive Officer Shane O’Hare said the company was able to maintain in 2009, its regional market share of 20 per cent amid a declining market.
“The outlook for the coming months is looking extremely positive. 2010 will be another excellent year and we are confident we will boost our profitability,” Shane O’Hare said in a press briefing at the Dubai Air Show.
He said revenue this year was propped up by the contribution of its business units – the luxury charter services, Royal Jet Charter Brokerage, Royal Jet Medical Evacuation Service and its fixed-based operations of the VIP terminal at the Abu Dhabi International Airport.
“All are making positive contributions to the financial health of the company. The Royal Jet Charter Brokerage in particular has exceeded our forecasts in terms of the amount of bookings handled and the revenue generation it has achieved,” O’Hare said without disclosing details.
The Royal Jet Charter Brokerage which was introduced this year, provides travel solutions by sourcing appropriate aircraft for charter through a network of audited operators. With the brokerage being a global service, Royal Jet can find the right aircraft at the best price for any request for any journey.
For 2010, O’Hare said demand for luxury charter services will continue to come mostly from its upscale customers in Saudi Arabia, which accounts for 40 per cent of its market, followed by the UAE at 30 per cent.
“They will continue to be our strongest markets in the years ahead as they account for 25 per cent of our total business.”
Royal Jet which is jointly owned by the Abu Dhabi Aviation and the Presidential Flight Authority, is also diversifying its business.
By mid-2010, it will start operating a $15-million maintenance, repair and overhaul facility at the Abu Dhabi International Airport. The service will also be offered to third parties..
Overseas, Royal Jet is also looking into positioning a GulfStream 300 aircraft , in addition to a Boeing business jet at the key hubs in Jeddah and Riyadh of ARABASCO – the top fixed based operations and maintenance facility in Saudi Arabia.
O’Hare said the company is also expecting additional revenue next year following the $50-million refurbishment and upgrade of the company’s five Boeing business jets.
Royal Jet which began operations in 2003, also runs a fleet of two mid-range Gulfstream 300s, a long-range Gulfstream IVSP and a Learjet 60.rocel@khaleejtimes.com
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