The number of private aircraft in the Kingdom is poised to reach 480 in the next five years compared to the current number of 240, an expert told Al-Eqtisadiyah daily.

The Middle East and Gulf region has the highest growth rates in the private aircraft industry globally at an annual rate of 8 percent compared to global projected rate of 6 percent, said Faisal Ghazi Kayyal, the CEO of Saudia Private Aviation (SPA).

Speaking to reporters on the sidelines of a signing ceremony of a partnership deal between SPA and Semaco Porsche, Kayyal said the number of private aircraft at the global level reached 15,000 by the beginning of the current year (2015) and expected to double to 30,000 by 2020.

Meanwhile, the number of private aircraft in the Middle East region is projected to hit 800 from their current number of 400, he said.

The SPA is the investment wing of Saudi Arabian Airlines (Saudia), which is assigned to provide private aviation services to clients.

Kayyal said the Kingdom market represents 60 percent of the Middle East private aviation market. “In its new concept, the Saudi private aviation tries to offer an integrated model in private aviation industry in the sense of providing leasing and ground services for private aircraft as well as management and maintenance services,” he said.

As one of key player in the private aviation in the Kingdom, SPA is endeavoring to support this industry and to have a considerable share in the Kingdoms gross domestic product (GDP), he said.

The strategic ties between the SPA and Semaco Porsche come within the strategic plans adopted by the Saudi private aviation which is aimed to unify quality of services received by clients at King Abdulaziz International Airport in Jeddah, King Khalid International Airport in Riyadh, Prince Mohamed bin Abdulaziz Airport in Madinah, and King Fahad International Airport in Dammam, he said.