KSA captures 30% of Middle East private aircraft market

Saudi Arabia has captured 30 percent of aircraft owned by individuals and companies in the Middle East with 150 aircraft registered inside the Kingdom and another 700 owned by Saudi businessmen abroad, Sabq.com online paper said.
Meanwhile, a media report said a Saudi businessman normally expends between 150-200 hours per year during his air trips while the price of a private aircraft is estimated at nearly $26 million (SR97.5 million).
Recently, the Kingdom joined the Middle East Business Aviation Show in Dubai, represented by Alfa Star Aviation Services Company, the paper said.
Chief Executive Officer (CEO) of Alpha Star Salim Al-Muzaini stressed the Kingdom’s capability in developing the aviation industry, which he said has made considerable contributions to the development of economies of countries. He noted the development made by the private aviation sector in the Kingdom through the introduction of world class air carriers.
Referring to his company, Al-Muzaini said that Alpha Star had added seven new aircraft to its fleet in 2014 and was expecting further expansion in the coming years.
It is to be recalled that business aviation is witnessing a remarkable growth in the Middle East. The sector is poised to achieve an annual growth rate of nearly 15 percent to hit $1.3 billion (SR4.8 billion) by 2020, the paper said.